Financial Accounting with Myaccountinglab (Global ed of 3rd revised ed)

Financial Accounting with Myaccountinglab (Global ed of 3rd revised ed)

By: Robert Kemp (author), Jeffrey Waybright (author)Mixed Media

1 - 2 weeks availability

Description

For courses in Introduction to Financial Accounting. This package includes MyAccountingLab(R). Understanding financial accounting as the language of business Once students see that accounting is the language of business, they are on their way to academic and professional success. Financial Accounting, Third Edition translates the essentials of accounting to students so they understand why and when financially sound decisions are made in business today. This program will provide a better teaching and learning experience-for you and your students. It will help: *Create a clear learning path with strong pedagogy: Students are able to acquire, understand, and retain important information by completing exercises, learning key terms, participating in discussion questions, following critical thinking activities and more. *Present fundamental accounting principles by using current real-world examples: Up-to-date information prepares students for working in their field. *Illustrate tough concepts using visuals: The text presents the connection between accounting equations and big picture concepts by using striking visuals. *Personalize learning: MyAccountingLab provides instructors with a rich and flexible set of course materials, along with course-management tools that make it easy to deliver all or a portion of your course online. This package includes MyAccountingLab, an online homework, tutorial, and assessment program designed to work with this text to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts. MyAccountingLab is not a self-paced technology and should only be purchased when required by an instructor. Please be sure you have the correct ISBN and Course ID. Instructors, contact your Pearson representative for more information.

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Contents

Chapter 1 Business, Accounting, and You Business, Accounting, and You What Is a Business, and Why Study Accounting? The Definition of a Business 2 The General Concept of Value Business Owners and Other Stakeholders The Goal of a Business How Does a Business Operate? Resources Needed to Start and Operate a Business Operating the Business The Cost of Money How Are Businesses Organized? The Types of Businesses The Legal Forms of Businesses What Is Accounting, and What Are the Key Accounting Principles and Concepts? Generally Accepted Accounting Principles International Financial Reporting Standards The Business Entity Principle The Reliability (Objectivity) Principle The Cost Principle Accounting Ethics: A Matter of Trust What Is the Role of Accounting in a Business? How Do You Recognize a Business Transaction? Cash Accounting Accrual Accounting How Do You Measure a Business Transaction? How Do You Record Business Transactions Using the Accounting Equation? Transaction Analysis Stockholders' Equity How Do You Report Business Transactions Using Financial Statements? The Income Statement The Statement of Retained Earnings The Balance Sheet The Statement of Cash Flows Relationships Among the Financial Statements Accounting, Business, and You-Putting It All Together Summary Accounting Practice Apply Your Knowledge Know Your Business Chapter 2 Analyzing and Recording Business Transactions Business, Accounting, and You How Are Accounts Used to Keep Business Transactions Organized? Organizing Accounts Assets Liabilities Stockholders Equity What Is Double-Entry Accounting? Normal Balance How Are the General Journal and General Ledger Used to Keep Track of Business Transactions? Transaction Analysis Applying Transaction Analysis Balancing the T-Accounts How Is a Trial Balance Prepared, and What Is It Used For? Correcting Errors Preparation of Financial Statements Summary Accounting Practice Apply Your Knowledge Know Your Business Chapter 3 Adjusting and Closing Entries Business, Accounting, and You How Does a Company Accurately Report Its Income? Revenue Recognition and Matching Principles What Is the Role of Adjusting Entries, and When Are They Prepared? Accruing Revenues Accruing Expenses Adjusting Deferred Revenues Adjusting Deferred Expenses How Are Financial Statements Prepared from an Adjusted Trial Balance? The Adjusted Trial Balance Preparing the Financial Statements How Does a Company Prepare for a New Accounting Period? Completing the Accounting Cycle The Three Closing Entries: Revenues, Expenses, and Dividends Post-Closing Trial Balance 120 Summary of the Adjusting and Closing Processes Summary Accounting Practice Apply Your Knowledge Know Your Business Comprehensive Problem Chapter 4 Accounting for a Merchandising Business Business, Accounting, and You What Are the Relationships Among Manufacturers, Wholesalers, Retailers, and Customers? How Do Periodic and Perpetual Inventory Systems Differ? How Do You Account for the Purchase of Inventory? Cash and Credit Purchases Purchase Returns and Allowances Purchase Discounts How Do You Account for the Sale of Inventory? Cash Sales Credit Sales Sales Returns and Allowances Sales Returns Sales Allowances Sales Discounts How Do You Account for Freight Charges and Other Selling Expenses? Costs Related to the Receipt of Goods from Suppliers Costs Related to Delivering Goods to Customers Other Selling Costs How Do You Prepare a Merchandisers Financial Statements? The Income Statement The Statement of Retained Earnings The Balance Sheet Summary Accounting Practice Apply Your Knowledge Know Your Business Chapter 5 Inventory Business, Accounting, and You What Inventory Costing Methods Are Allowed? Cost Flow Versus Physical Flow of Inventory How Are the Four Inventory Costing Methods Applied? Inventory Cost Flows Specific-Identification Method First-In, First-Out (FIFO) Method Last-In, First-Out (LIFO) Method Average Cost Method Journalizing Inventory Transactions What Effect Do the Different Costing Methods Have on Net Income? What Else Determines How Inventory Is Valued? How Is Inventory Reported on the Balance Sheet? Inventory Shrinkage How Do Inventory Errors Affect the Financial Statements? Is It Possible to Estimate the Value of Inventory If the Inventory Is Accidentally Destroyed? Summary Accounting Practice Apply Your Knowledge Know Your Business Comprehensive Problem Chapter 6 The Challenges of Accounting: Standards, Internal Control, Audits, Fraud, and Ethics 256 Business, Accounting, and You What Are the Rules that Govern Accounting? Understandable Relevant Reliable Generally Accepted Accounting Principles (GAAP) in the United States Generally Accepted Accounting Principles Around the World: IFRS Differences Between FASB and IFRS What Is Internal Control? Elements of an Internal Control System What Is Fraud, and Who Commits It? Management Fraud Employee Embezzlement The Factors Usually Present When Fraud Is Committed What Is a Certified Public Accountant (CPA)? Audits 268Audit Opinions What Are the Legal and Ethical Responsibilities of Accountants? The Legal Responsibilities of Accountants Ethical Responsibilities of Accountants Summary Accounting Practice Apply Your Knowledge Know Your Business Chapter 7 Cash and Receivables Business, Accounting, and You What Are the Different Types of Sales? Cash Sales Credit Card Sales Debit Card Sales Credit/Debit Card Processing Sales on Account What Internal Control Procedures Should Be Used for Cash? Internal Controls over Cash Receipts Internal Control over Cash Payments Purchase and Payment Process The Bank Reconciliation Preparing the Bank Reconciliation Book Side of the Reconciliation Online Banking How Is Cash Reported on the Balance Sheet? How Do You Account for Receivables? Types of Receivables Internal Control over Accounts Receivable Accounting for Uncollectible Accounts Receivable How Do You Account for Uncollectible Accounts? The Direct Write-Off Method Direct Write-Off Method: Recovery of Accounts Previously Written Off The Allowance Method Estimating the Amount of Uncollectible Accounts Writing Off Uncollectible Accounts Under the Allowance Method Allowance Method: Recovery of Accounts Previously Written Off How Are Accounts Receivable Reported on the Balance Sheet? How Do You Account for Notes Receivable? Identifying the Maturity Date Origination of Notes Receivable Computing Interest on a Note Accruing Interest Revenue Summary Accounting Practice Apply Your Knowledge Know Your Business Appendix 7A What Is a Petty Cash Fund? Setting Up the Petty Cash Fund Replenishing the Petty Cash Fund Changing the Petty Cash Fund Accounting Practice Chapter 8 Long-Term and Other Assets Business, Accounting, and You What Are the Different Types of Long-Term Assets? How Is the Cost of a Fixed Asset Calculated? Land and Land Improvements Buildings Machinery and Equipment Furniture and Fixtures Lump-Sum (Basket) Purchase of Assets How Are Fixed Assets Depreciated? Measuring Depreciation Depreciation Methods Comparing Depreciation Methods Partial Year Depreciation Changing the Useful Life of a Depreciable Asset Using Fully Depreciated Assets How Are Costs of Repairing Fixed Assets Recorded? Ordinary Repairs Extraordinary Repairs Betterments What Happens When a Fixed Asset Is Disposed? How Do You Account for Intangible Assets? Specific Intangibles Accounting for Research and Development Costs How Are Natural Resources Accounted For? What Are Other Assets? How Are Long-Term Assets Reported on the Balance Sheet? Summary Accounting Practice Apply Your Knowledge Know Your Business Chapter 9 Current Liabilities and Long-Term Debt Business, Accounting, and You What Are the Differences Among Known, Estimated, and Contingent Liabilities? How Do You Account for Current Liabilities of a Known Amount? Accounts Payable Notes Payable Sales Tax Payable Accrued Expenses (Accrued Liabilities) Unearned Revenues Current Portion of Long-Term Debt How Do You Account for Current Liabilities of an Uncertain Amount? Estimated Warranty Liability How Do You Account for a Contingent Liability? How Do You Account for Long-Term Debt? Notes Payable Bonds Payable Lease Liabilities How Are Liabilities Reported on the Balance Sheet? Summary Accounting Practice Apply Your Knowledge Know Your Business Appendix 9A: Payroll.com (Located online at www.pearsonhighered/kemp) 9A-1 Chapter 10 Corporations: Paid-In Capital and Retained Earnings Business, Accounting, and You How Are Corporations Organized? What Makes Up the Stockholders Equity of a Corporation? Stockholders Rights Classes of Stock Par Value, Stated Value, and No-Par Stock How Is the Issuance of Stock Recorded? Issuing Common Stock Issuing Preferred Stock How Are Cash Dividends Accounted For? Dividend Dates Declaring and Paying Dividends Dividing Dividends Between Preferred and Common Shareholders Dividends on Cumulative and Noncumulative Preferred Stock How Are Stock Dividends and Stock Splits Accounted For? Stock Dividends Recording Stock Dividends Stock Splits Stock Dividends and Stock Splits Compared How Is Treasury Stock Accounted For? Treasury Stock Basics Purchase of Treasury Stock Sale of Treasury Stock How Is Stockholders Equity Reported on the Balance Sheet? Summary Accounting Practice Apply Your Knowledge Know Your Business Chapter 11 The Statement of Cash Flows Business, Accounting, and You What Is the Statement of Cash Flows? How Does a Business Create a Statement of Cash Flows? The Logic of How the Statement of Cash Flows Is Prepared Sources and Uses of Cash: Categorizing Changes as Operating, Investing, or Financing Statement of Cash Flows: Two Formats How Is the Statement of Cash Flows Prepared Using the Indirect Method? Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities Net Change in Cash and Cash Balances Noncash Investing and Financing Activities How Is the Statement of Cash Flows Prepared Using the Direct Method? Cash Flows from Operating Activities Summary Accounting Practice Apply Your Knowledge Know Your Business Comprehensive Problem Chapter 12 Financial Statement Analysis Business, Accounting, and You What Is Financial Analysis? Step One: Understand a Businesss Model and Strategy Step Two: Understand the Environment in Which a Business Operates Step Three: Analyze the Content of the Financial Statements and Other Information, Making Adjustments If Desired Step Four: Analyze the Businesss Operations Step Five: Use the Financial Analysis to Make Decisions What Measures Does Someone Use to Analyze the Performance of a Business? The Techniques of Financial Analysis Vertical Analysis Horizontal Analysis Trend Percentages Question 1: Is the Business a Going Concern? An Example: Tucker Enterprises, Inc. Question 2: How Is the Business Earning a Net Income or Loss? An Example: Tucker Enterprises, Inc. Question 3: Where Is the Business Getting Its Money, and Can It Pay ItsDebt Obligations? An Example: Tucker Enterprises, Inc. Question 4: How Is the Business Investing Its Money, and Is It Using ItsAssets Efficiently? An Example: Tucker Enterprises, Inc. Question 5: Is the Business Generating Enough Net Income to Reward theStockholders for the Use of Their Money? An Example: Tucker Enterprises, Inc. How Do You Put Everything Together to Make Decisions? Seeing the Impact of Decisions What Are Red Flags in Financial Statement Analysis? Summary Accounting Practice Apply Your Knowledge Know Your Business Appendix A Columbia Sportswear Company 2012 Annual Report to Shareholders Appendix B Time Value of MoneyFuture and Present Value Concepts Future Value Future-Value Tables Future Value of an Annuity Present Value Present-Value Tables Present Value of an Annuity Accounting Practice Company Index Gl index Credits

Product Details

  • publication date: 06/11/2014
  • ISBN13: 9781292074863
  • Format: Mixed Media
  • ID: 9781292074863
  • weight: 1651
  • ISBN10: 1292074868
  • edition: Global ed of 3rd revised ed

Delivery Information

  • Saver Delivery: Yes
  • 1st Class Delivery: Yes
  • Courier Delivery: Yes
  • Store Delivery: Yes

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