Financial Accounting Tools for Business Decision Making 8th Edition by Paul Kimmel, Jerry Weygandt, Donald Kieso ISBN 1118953819 9781118953815

Financial Accounting Tools for Business Decision Making 8th Edition by Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso – Ebook PDF Instant Download/Delivery: 1118953819, 9781118953815
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Product details:

ISBN 10: 1118953819
ISBN 13: 9781118953815
Author: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

Starting with the big picture of financial statements first, Paul Kimmel shows students why financial accounting is important to their everyday lives, business majors, and future careers. This best-selling financial accounting program is known for a student-friendly writing style, visual pedagogy, the most relevant and easy to understand examples, and teaching the accounting cycle through the lens of one consistent story of Sierra Corp, an outdoor adventure company.

Financial Accounting Tools for Business Decision Making 8th Table of contents:

1 Introduction to Financial Statements

Knowing the Numbers

LO 1: Study the forms of business organization and the uses of accounting information.

Forms of Business Organization

Users and Uses of Financial Information

Ethics in Financial Reporting

LO 2: Explain the three principal types of business activity.

Financing Activities

Investing Activities

Operating Activities

LO 3: Describe the four financial statements and how they are prepared.

Income Statement

Retained Earnings Statement

Balance Sheet

Statement of Cash Flows

Interrelationships of Statements

Other Elements of an Annual Report

A Look at IFRS

2 A Further Look at Financial Statements

Just Fooling Around?

LO 1: Identity the sections of a classified balance sheet.

Current Assets

Long-Term Investments

Property, Plant, and Equipment

Intangible Assets

Current Liabilities

Long-Term Liabilities

Stockholders’ Equity

LO 2: Use ratios to evaluate a company’s profitability, liquidity, and solvency.

Ratio Analysis

Using the Income Statement

Using a Classified Balance Sheet

Using the Statement of Cash Flows

LO 3: Discuss financial reporting concepts.

The Standard-Setting Environment

Qualities of Useful Information

Assumptions in Financial Reporting

Principles in Financial Reporting

Cost Constraint

A Look at IFRS

3 The Accounting Information System

Accidents Happen

LO 1: Analyze the effect of business transactions on the basic accounting equation.

Accounting Transactions

Analyzing Transactions

Summary of Transactions

LO 2: Explain how accounts, debits, and credits are used to record business transactions.

Debits and Credits

Debit and Credit Procedures

Stockholders’ Equity Relationships

Summary of Debit/Credit Rules

LO 3: Indicate how a journal is used in the recording process.

The Recording Process

The Journal

LO 4: Explain how a ledger and posting help in the recording process.

The Ledger

Chart of Accounts

Posting

The Recording Process Illustrated

Summary Illustration of Journalizing and Posting

LO 5: Prepare a trial balance.

Limitations of a Trial Balance

A Look at IFRS

4 Accrual Accounting Concepts

Keeping Track of Groupons

LO 1: Explain the accrual basis of accounting and the reasons for adjusting entries.

The Revenue Recognition Principle

The Expense Recognition Principle

Accrual versus Cash Basis of Accounting

The Need for Adjusting Entries

Types of Adjusting Entries

LO 2: Prepare adjusting entries for deferrals.

Prepaid Expenses

Unearned Revenues

LO 3: Prepare adjusting entries for accruals.

Accrued Revenues

Accrued Expenses

Summary of Basic Relationships

LO 4: Prepare an adjusted trial balance and closing entries.

Preparing the Adjusted Trial Balance

Preparing Financial Statements

Quality of Earnings

Closing the Books

Summary of the Accounting Cycle

LO *5: APPENDIX 4A: Describe the purpose and the basic form of a worksheet.

A Look at IFRS

5 Merchandising Operations and the Multiple-Step Income Statement

Buy Now, Vote Later

LO 1: Describe merchandising operations and inventory systems.

Operating Cycles

Flow of Costs

LO 2: Record purchases under a perpetual inventory system.

Freight Costs

Purchase Returns and Allowances

Purchase Discounts

Summary of Purchasing Transactions

LO 3: Record sales under a perpetual inventory system.

Sales Returns and Allowances

Sales Discounts

LO 4: Prepare a multiple-step income statement and a comprehensive income statement.

Single-Step Income Statement

Multiple-Step Income Statement

Comprehensive Income Statement

LO 5: Determine cost of goods sold under a periodic inventory system.

LO 6: Compute and analyze gross profit rate and profit margin.

Gross Profit Rate

Profit Margin

LO *7: APPENDIX 5A: Record purchases and sales of inventory under a periodic inventory system.

Recording Merchandise Transactions

Recording Purchases of Merchandise

Freight Costs

Recording Sales of Merchandise

Comparison of Entries—Perpetual vs. Periodic

A Look at IFRS

6 Reporting and Analyzing Inventory

“Where Is That Spare Bulldozer Blade?”

LO 1: Discuss how to classify and determine inventory.

Classifying Inventory

Determining Inventory Quantities

LO 2: Apply inventory cost flow methods and discuss their financial effects.

Specific Identification

Cost Flow Assumptions

Financial Statement and Tax Effects of Cost Flow Methods

Using Inventory Cost Flow Methods Consistently

LO 3: Explain the statement presentation and analysis of inventory.

Presentation

Lower-of-Cost-or-Market

Analysis

Adjustments for LIFO Reserve

LO *4: APPENDIX 6A: Apply inventory cost flow methods to perpetual inventory records.

First-In, First-Out (FIFO)

Last-In, First-Out (LIFO)

Average-Cost

LO *5: APPENDIX 6B: Indicate the effects of inventory errors on the financial statements.

Income Statement Effects

Balance Sheet Effects

A Look at IFRS

7 Fraud, Internal Control, and Cash

Minding the Money in Madison

LO 1: Define fraud and the principles of internal control.

Fraud

The Sarbanes-Oxley Act

Internal Control

Principles of Internal Control Activities

Limitations of Internal Control

LO 2: Apply internal control principles to cash.

Cash Receipts Controls

Cash Disbursements Controls

LO 3: Apply the control features of a bank account.

Electronic Funds Transfer (EFT) System

Bank Statements

Reconciling the Bank Account

LO 4: Explain the reporting of cash and the basic principles of cash management.

Reporting Cash

Managing and Monitoring Cash

Cash Budgeting

LO *5: APPENDIX 7A: Explain the operation of a petty cash fund.

Establishing the Petty Cash Fund

Making Payments from Petty Cash

Replenishing the Petty Cash Fund

A Look at IFRS

8 Reporting and Analyzing Receivables

What’s Cooking?

LO 1: Explain how companies recognize accounts receivable.

Types of Receivables

Recognizing Accounts Receivable

LO 2: Describe how companies value accounts receivable and record their disposition.

Valuing Accounts Receivable

Disposing of Accounts Receivable

LO 3: Explain how companies recognize, value, and dispose of notes receivable.

Determining the Maturity Date

Computing Interest

Recognizing Notes Receivable

Valuing Notes Receivable

Disposing of Notes Receivable

LO 4: Describe the statement presentation of receivables and the principles of receivables managemen

Financial Statement Presentation of Receivables

Managing Receivables

Evaluating Liquidity of Receivables

Accelerating Cash Receipts

A Look at IFRS

9 Reporting and Analyzing Long-Lived Assets

A Tale of Two Airlines

LO 1: Explain the accounting for plant asset expenditures.

Determining the Cost of Plant Assets

Expenditures During Useful Life

To Buy or Lease?

LO 2: Apply depreciation methods to plant assets.

Factors in Computing Depreciation

Depreciation Methods

Revising Periodic Depreciation

Impairments

LO 3: Explain how to account for the disposal of plant assets.

Sale of Plant Assets

Retirement of Plant Assets

LO 4: Identity the basic issues related to reporting intangible assets.

Accounting for Intangible Assets

Types of Intangible Assets

LO 5: Discuss how long-lived assets are reported and analyzed.

Presentation

Analysis

LO *6: APPENDIX 9A: Compute periodic depreciation using the declining-balance method and the units-o

Declining-Balance Method

Units-of-Activity Method

A Look at IFRS

10 Reporting and Analyzing Liabilities

And Then There Were Two

LO 1: Explain how to account for current liabilities.

What Is a Current Liability?

Notes Payable

Sales Taxes Payable

Unearned Revenues

Current Maturities of Long-Term Debt

Payroll and Payroll Taxes Payable

LO 2: Describe the major characteristics of bonds.

Types of Bonds

Issuing Procedures

Determining the Market Price of Bonds

LO 3: Explain how to account for bond transactions.

Issuing Bonds at Face Value

Discount or Premium on Bonds

Issuing Bonds at a Discount

Issuing Bonds at a Premium

Redeeming Bonds at Maturity

Redeeming Bonds before Maturity

LO 4: Discuss how liabilities are reported and analyzed.

Presentation

Analysis

LO *5: APPENDIX 10A: Apply the straight-line method of amortizing bond discount and bond premium.

Amortizing Bond Discount

Amortizing Bond Premium

LO *6: APPENDIX 10B: Apply the effective-interest method of amortizing bond discount and bond premiu

Amortizing Bond Discount

Amortizing Bond Premium

LO *7: APPENDIX 10C: Describe the accounting for long-term notes payable.

A Look at IFRS

11 Reporting and Analyzing Stockholders’ Equity

Oh Well, I Guess I’ll Get Rich

LO 1: Discuss the major characteristics of a corporation.

Characteristics of a Corporation

Forming a Corporation

Stockholder Rights

Stock Issue Considerations

Corporate Capital

LO 2: Explain how to account for the issuance of common and preferred stock, and the purchase of tre

Accounting for Common Stock

Accounting for Preferred Stock

Treasury Stock

LO 3: Explain how to account for cash dividends and describe the effect of stock dividends and stock

Cash Dividends

Dividend Preferences

Stock Dividends

Stock Splits

LO 4: Discuss how stockholders’ equity is reported and analyzed.

Retained Earnings

Retained Earnings Restrictions

Balance Sheet Presentation of Stockholders’ Equity

Analysis of Stockholders’ Equity

Debt versus Equity Decision

LO *5: APPENDIX 11A: Prepare entries for stock dividends.

A Look at IFRS

12 Statement of Cash Flows

Got Cash?

LO 1: Discuss the usefulness and format of the statement of cash flows.

Usefulness of the Statement of Cash Flows

Classification of Cash Flows

Significant Noncash Activities

Format of the Statement of Cash Flows

LO 2: Prepare a statement of cash flows using the indirect method.

Indirect and Direct Methods

Indirect Method—Computer Services Company

Step 1: Operating Activities

Summary of Conversion to Net Cash Provided by Operating Activities– Indirect Method

Step 2: Investing and Financing Activities

Step 3: Net Change in Cash

LO 3: Use the statement of cash flows to evaluate a company.

The Corporate Life Cycle

Free Cash Flow

LO *4: APPENDIX 12A: Prepare a statement of cash flows using the direct method.

Step 1: Operating Activities

Step 2: Investing and Financing Activities

Step 3: Net Change in Cash

LO *5: APPENDIX 12B: Use the T-account approach to prepare a statement of cash flows.

A Look at IFRS

13 Financial Analysis: The Big Picture

It Pays to Be Patient

LO 1: Apply the concept of sustainable income and quality of earnings.

Sustainable Income

Quality of Earnings

LO 2: Apply horizontal analysis and vertical analysis.

Horizontal Analysis

Vertical Analysis

LO 3: Analyze a company’s performance using ratio analysis.

Price-Earnings Ratio

Liquidity Ratios

Solvency Ratios

Profitability Ratios

LO *4: APPENDIX 13A: Evaluate a company comprehensively using ratio analysis.

Liquidity Ratios

Solvency Ratios

Profitability Ratios

A Look at IFRS

A Specimen Financial Statements: Apple Inc.

B Specimen Financial Statements: Columbia Sportswear Company

C Specimen Financial Statements: VF Corporation

D Specimen Financial Statements: Amazon.com, Inc.

E Specimen Financial Statements: Wal-Mart Stores, Inc.

F Specimen Financial Statements: Louis Vuitton

G Time Value of Money

LO 1: Compute interest and future values.

Nature of Interest

Future Value of a Single Amount

Future Value of an Annuity

LO 2: Compute present values.

Present Value Variables

Present Value of a Single Amount

Present Value of an Annuity

Time Periods and Discounting

Present Value of a Long-Term Note or Bond

LO 3: Use a financial calculator to solve time value of money problems.

Present Value of a Single Sum

Present Value of an Annuity

Useful Applications of the Financial Calculator

H Reporting and Analyzing Investments

LO 1: Explain how to account for debt investments.

Why Corporations Invest

Accounting for Debt Investments

LO 2: Explain how to account for stock investments.

Holdings of Less than 20%

Holdings Between 20% and 50%

Holdings of More than 50%

LO 3: Discuss how debt and stock investments are reported in the financial statements.

Categories of Securities

Balance Sheet Presentation

Presentation of Realized and Unrealized Gain or Loss

Statement of Cash Flows Presentation

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