Principles-of-Financial-Accounting
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Description
Contents
Reviews
Language
Unknown
ISBN
978-1-940771-15-1
1Accounting Cycle for the Service Business—Cash Basis
1.1 Introducing Accounts and Balances
1.2 Net Income—A Critical Amount
1.3 The Mechanics of the Accounting Process
1.3.1 The Journal
1.3.2 Rules of Debit and Credit
1.3.3 Journalizing Transactions
1.3.4 Ledger
1.3.5 Posting
1.3.6 Normal Balance
1.3.7 Trial Balance
1.4 Financial Statements
1.4.1 Income Statement
1.4.2 The Accounting Cycle
1.4.3 Temporary Accounts
1.4.4 Closing Entries
1.4.5 Revenue Transactions on Account
1.4.6 Expense Transactions on Account
1.5 Asset, Liability and Stockholders’ Equity Accounts
1.5.1 Assets
1.5.2 Liabilities
1.5.3 Stockholders’ Equity
1.5.4 Balance Sheet Account Transactions
1.6 Account Wrap-Up
1.7 The Accounting Equation
1.7.1 Accounting Equation Broken Out
1.7.2 Accounting Transaction Grid
1.7.3 Retained Earnings Statement
1.7.4 Balance Sheet
1.8 Changes in Stockholders’ Equity
1.9 Wrap up
2Accounting Cycle for the Service Business—Accrual Basis
2.1 Accrual Basis of Accounting
2.2 Matching Principle
2.2.1 Adjusting Entries
2.2.2 Complete Accounting Cycle
2.2.3 Adjusting Entry Accounts
2.3 Adjusting Entries
2.3.1 Adjusting Entries—Deferrals
2.4 Adjusting Entries—Deferrals
2.4.1 Deferred Revenue
2.4.2 Summary of Revenues
2.4.3 Adjusting Entries
2.5 Adjusting Entries—Accruals
2.5.1 Accrued Expenses
2.5.2 Accrued Revenue
3Accounting Cycle for a
Merchandising Business
3.1 Introduction
3.2 Merchandising Income Statement
3.3 Basic Merchandising Transactions (perpetual inventory system)
3.3.1 Merchandising Transactions (perpetual inventory system) with Discounts – The Buyer
3.3.2 Merchandising Transactions (perpetual inventory system) with Discounts – The Seller
3.4 Transportation Costs for Merchandising Transactions
3.5 Basic Merchandising Transactions
(periodic inventory system)
3.5.1 Inventory Shrinkage
3.6 Closing Entries for Merchandising Accounts
4Assets in More Detail
4.1 Inventory
4.1.1 Perpetual Inventory System
4.1.2 Periodic Inventory System
4.1.3 Lower-of-Cost-or-Market Inventory Valuation
4.1.4 Physical Inventory Count
4.2 Cash
4.2.1 Bank Reconciliation
4.2.2 Bank Card Expense
4.3 Note Receivable
4.3.1 Issue Date
4.3.2 Maturity (Due) Date
4.4 Uncollectible Accounts
4.4.1 Direct Write-off Method
4.4.2 Allowance Method
4.5 Fixed and Intangible Assets
4.5.1 Depreciation Terms
4.5.2 Depreciation Methods
4.6 Summary
4.7 Gains and Losses on Disposal of Assets
4.7.1 Disposal of Fixed Assets
4.8 Gains and losses on the income statement
4.8.1 Amortization of an Intangible Asset
4.9 Investments
4.9.1 Investments Overview
4.9.2 Investments in Stock
4.9.3 Investments in Stock on the Financial Statements
4.10 Investments in Bonds
4.10.1 Held-to-Maturity Securities
4.10.2 Purchasing Bond Investments with Accrued Interest and Partial-Year Amortization
4.10.3 Selling Bond Investments with Accrued Interest and Partial-Year Amortization
4.10.4 Trading Securities
5Liabilities in More Detail
5.1 Sales Tax
5.2 Payroll
5.3 Notes Payable
5.3.1 Short-Term Note Payable
5.3.2 Long-Term Note Payable
5.4 Bonds
5.4.1 Bond Transactions When Contract Rate Equals Market Rate
5.4.2 Bond Transactions When Contract Rate is Less Than Market Rate
5.4.3 Carrying Amount of Bonds Issued at a Discount
5.4.4 Bond Transactions When Contract Rate is More Than Market Rate
5.4.5 Carrying Amount of Bonds Issued at a Premium
5.4.6 Calling Bonds
3.4.7 Partial Years
3.4.8 Partial Redemptions
6Stockholders’ Equity in More Detail
6.1 Accounting Equation
6.2 Corporations and Stockholders’ Equity
6.3 Issuing Stock for Cash
6.4 Issuing Stock for Non-Cash Assets
6.4 Treasury Stock
6.5 Cash Dividends
6.6 Stock Dividends
6.7 Stockholders’ Equity Section of the Balance Sheet
6.8 Stock Splits
6.9 Cash Dividends Calculations
7 Capstone Experiences:
7.1 Financial Statements
7.2 Statement of Cash Flows
7.2.1 Types of Business Activities
7.2.2 Cash Inflows and Outflows
7.2.3 Basic Shell of the Statement of Cash Flows
(indirect method)
7.2.4 Basic Shell of the Statement of Cash Flows
(direct method)
7.2.5 Comparative Operating Activities Sections –
Statement of Cash Flows
7.3 Financial Statement Analysis
7.3.1 Horizontal analysis
7.3.2 Vertical Analysis
7.3.3 Common-size Statements
7.3.4 Ratio Analysis
7.4 SUMMARY
7.5 Accounting as a Profession
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