Chapter 1 Financial Accounting and Accounting Standards: We Can Do Better |
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2 | (38) |
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Financial Statements and Financial Reporting |
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4 | (3) |
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Accounting and Capital Allocation |
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4 | (1) |
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What Do the Numbers Mean? It's the Accounting |
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5 | (1) |
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Objective of Financial Reporting |
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5 | (1) |
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What Do the Numbers Mean? Don't Forget Stewardship |
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6 | (1) |
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The Need to Develop Standards |
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7 | (1) |
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Parties Involved in Standard-Setting |
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7 | (6) |
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Securities and Exchange Commission (SEC) |
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7 | (2) |
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American Institute of Certified Public Accountants (AICPA) |
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9 | (1) |
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Financial Accounting Standards Board (FASB) |
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10 | (3) |
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Generally Accepted Accounting Principles |
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13 | (3) |
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What Do the Numbers Mean? You Have to Step Back |
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14 | (1) |
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14 | (2) |
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Issues in Financial Reporting |
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16 | (7) |
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GAAP in a Political Environment |
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16 | (1) |
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Evolving Issue Fair Value, Fair Consequences? |
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17 | (1) |
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17 | (1) |
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Financial Reporting Challenges |
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18 | (2) |
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International Accounting Standards |
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20 | (1) |
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What Do the Numbers Mean? Can You Do That? |
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21 | (1) |
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Ethics in the Environment of Financial Accounting |
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21 | (1) |
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21 | (2) |
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23 | (8) |
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31 | (9) |
Chapter 2 Conceptual Framework for Financial Reporting: What Is It? |
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40 | (42) |
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42 | (3) |
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Need for a Conceptual Framework |
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42 | (1) |
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What Do the Numbers Mean? What's Your Principle? |
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43 | (1) |
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Development of a Conceptual Framework |
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43 | (1) |
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Overview of the Conceptual Framework |
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44 | (1) |
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First Level: Basic Objective |
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45 | (1) |
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Second Level: Fundamental Concepts |
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45 | (8) |
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Qualitative Characteristics of Accounting Information |
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45 | (3) |
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What Do the Numbers Mean? Living in a Material World |
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48 | (2) |
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What Do the Numbers Mean? Show Me the Earnings! |
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50 | (2) |
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52 | (1) |
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Third Level: Recognition and Measurement Concepts |
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53 | (12) |
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54 | (1) |
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What Do the Numbers Mean? Whose Company Is It? |
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54 | (2) |
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Basic Principles of Accounting |
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56 | (5) |
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What Do the Numbers Mean? You May Need a Map |
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61 | (1) |
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61 | (2) |
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63 | (2) |
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65 | (13) |
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78 | (4) |
Chapter 3 The Accounting Information System: Needed: A Reliable information System |
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82 | (76) |
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Accounting Information System |
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84 | (2) |
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84 | (1) |
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85 | (1) |
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86 | (28) |
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Financial Statements and Ownership Structure |
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88 | (1) |
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89 | (1) |
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Identifying and Recording Transactions and Other Events |
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89 | (2) |
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91 | (1) |
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92 | (4) |
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96 | (1) |
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96 | (11) |
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What Do the Numbers Mean? Am I Covered? |
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107 | (1) |
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108 | (1) |
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Preparing Financial Statements |
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108 | (2) |
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What Do the Numbers Mean? 24/7 Accounting |
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110 | (1) |
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110 | (3) |
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Post-Closing Trial Balance |
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113 | (1) |
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Reversing Entries-An Optional Step |
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113 | (1) |
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The Accounting Cycle Summarized |
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114 | (1) |
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What Do the Numbers Mean? Hey, It's Complicated |
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114 | (1) |
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Financial Statements for a Merchandising Company |
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114 | (4) |
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114 | (1) |
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Statement of Retained Earnings |
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115 | (1) |
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115 | (2) |
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What Do the Numbers Mean? Statements, Please |
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117 | (1) |
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117 | (1) |
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Appendix 3A Cash-Basis Accounting versus Accrual-Basis Accounting |
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118 | (6) |
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Conversion from Cash Basis to Accrual Basis |
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120 | (3) |
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Service Revenue Computation |
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121 | (1) |
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Operating Expense Computation |
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122 | (1) |
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Theoretical Weaknesses of the Cash Basis |
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123 | (1) |
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Appendix 3B Using Reversing Entries |
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124 | (3) |
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Illustration of Reversing Entries-Accruals |
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124 | (1) |
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Illustration of Reversing Entries-Deferrals |
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125 | (1) |
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Summary of Reversing Entries |
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126 | (1) |
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Appendix 3C Using a Worksheet: The Accounting Cycle Revisited |
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127 | (26) |
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127 | (1) |
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127 | (1) |
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127 | (1) |
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Adjustments Entered on the Worksheet |
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127 | (3) |
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129 | (1) |
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Income Statement and Balance Sheet Columns |
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129 | (1) |
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Preparing Financial Statements from a Worksheet |
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130 | (23) |
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153 | (5) |
Chapter 4 Income Statement and Related Information: Financial Statements Are Changing |
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158 | (54) |
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160 | (2) |
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Usefulness of the Income Statement |
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160 | (1) |
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Limitations of the Income Statement |
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160 | (1) |
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161 | (1) |
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What Do the Numbers Mean? Four: The Loneliest Number |
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162 | (1) |
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Format of the Income Statement |
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162 | (6) |
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Elements of the Income Statement |
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162 | (2) |
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Intermediate Components of the Income Statement |
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164 | (2) |
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What Do the Numbers Mean? Top Line or Bottom Line? |
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166 | (1) |
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Condensed Income Statements |
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166 | (1) |
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Single-Step Income Statements |
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167 | (1) |
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Reporting Various Income Items |
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168 | (11) |
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What Do the Numbers Mean? Are One-Time Charges Bugging You? |
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169 | (1) |
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169 | (1) |
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170 | (3) |
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173 | (2) |
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What Do the Numbers Mean? Extraordinary Times |
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175 | (1) |
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176 | (1) |
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Summary of Various Income Items |
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176 | (1) |
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177 | (2) |
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What Do the Numbers Mean? Different Income Concepts |
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179 | (1) |
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179 | (9) |
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Accounting Changes and Errors |
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179 | (2) |
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Retained Earnings Statement |
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181 | (1) |
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182 | (3) |
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Evolving Issue Income Reporting |
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185 | (3) |
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188 | (17) |
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205 | (7) |
Chapter 5 Balance Sheet and Statement of Cash Flows: Hey, It Doesn't Balance! |
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212 | (74) |
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214 | (14) |
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Usefulness of the Balance Sheet |
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214 | (1) |
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Limitations of the Balance Sheet |
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215 | (1) |
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What Do the Numbers Mean? Grounded |
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215 | (1) |
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Classification in the Balance Sheet |
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215 | (8) |
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What Do the Numbers Mean? "Show Me the Assets!" |
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223 | (3) |
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What Do the Numbers Mean? Warning Signals |
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226 | (1) |
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226 | (2) |
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228 | (8) |
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What Do the Numbers Mean? Watch That Cash Flow |
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228 | (1) |
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Purpose of the Statement of Cash Flows |
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228 | (1) |
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Content and Format of the Statement of Cash Flows |
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229 | (1) |
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Overview of the Preparation of the Statement of Cash Flows |
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230 | (2) |
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Usefulness of the Statement of Cash Flows |
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232 | (3) |
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What Do the Numbers Mean? "There Ought to Be a Law" |
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235 | (1) |
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236 | (9) |
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236 | (2) |
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What Do the Numbers Mean? What About Your Commitments? |
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238 | (1) |
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239 | (4) |
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Evolving Issue Balance Sheet Reporting: Gross or Net? |
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243 | (2) |
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Appendix 5A Ratio Analysis-A Reference |
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245 | (1) |
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Using Ratios to Analyze Performance |
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245 | (1) |
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Appendix 5B Specimen Financial Statements: The Procter & Gamble Company |
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246 | (9) |
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255 | (22) |
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277 | (9) |
Chapter 6 Accounting and the Time Value of Money: How Do I Measure That? |
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286 | (58) |
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Basic Time Value Concepts |
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288 | (6) |
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Applications of Time Value Concepts |
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288 | (1) |
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289 | (1) |
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290 | (1) |
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290 | (1) |
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What Do the Numbers Mean? A Pretty Good Start |
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291 | (3) |
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294 | (1) |
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294 | (5) |
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Future Value of a Single Sum |
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295 | (1) |
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Present Value of a Single Sum |
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296 | (2) |
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Solving for Other Unknowns in Single-Sum Problems |
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298 | (1) |
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299 | (12) |
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Future Value of an Ordinary Annuity |
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300 | (2) |
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What Do the Numbers Mean? Don't Wait to Make That Contribution! |
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302 | (1) |
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Future Value of an Annuity Due |
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303 | (1) |
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Examples of Future Value of Annuity Problems |
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304 | (2) |
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Present Value of an Ordinary Annuity |
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306 | (2) |
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What Do the Numbers Mean? Up in Smoke |
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308 | (1) |
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Present Value of an Annuity Due |
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308 | (1) |
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Examples of Present Value of Annuity Problems |
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309 | (2) |
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311 | (4) |
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311 | (2) |
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Valuation of Long-Term Bonds |
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313 | (1) |
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Effective-Interest Method of Amortization of Bond Discount or Premium |
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314 | (1) |
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Present Value Measurement |
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315 | (5) |
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Choosing an Appropriate Interest Rate |
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316 | (1) |
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What Do the Numbers Mean? How Low Can They Go? |
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316 | (1) |
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Example of Expected Cash Flow |
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316 | (4) |
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320 | (24) |
Chapter 7 Cash and Receivables: Please Release Me? |
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344 | (70) |
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346 | (3) |
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346 | (1) |
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346 | (2) |
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Summary of Cash-Related Items |
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348 | (1) |
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What Do the Numbers Mean? Luck of the Irish |
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349 | (1) |
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349 | (10) |
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Recognition of Accounts Receivable |
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351 | (1) |
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Valuation of Accounts Receivable |
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352 | (6) |
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What Do the Numbers Mean? I'm Still Waiting |
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358 | (1) |
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359 | (5) |
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Recognition of Notes Receivable |
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359 | (4) |
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Valuation of Notes Receivable |
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363 | (1) |
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What Do the Numbers Mean? Economic Consequences and Write-Offs |
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364 | (1) |
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364 | (12) |
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365 | (1) |
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Disposition of Accounts and Notes Receivable |
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365 | (6) |
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What Do the Numbers Mean? Return to Lender |
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371 | (1) |
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Presentation and Analysis |
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372 | (2) |
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Evolving Issue A Cure for "Too Little, Too Late"? |
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374 | (2) |
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Appendix 7A Cash Controls |
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376 | (5) |
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376 | (1) |
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The Imprest Petty Cash System |
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377 | (1) |
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Physical Protection of Cash Balances |
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378 | (1) |
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Reconciliation of Bank Balances |
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378 | (3) |
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Appendix 7B Impairments of Receivables |
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381 | (4) |
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Impairment Measurement and Reporting |
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382 | (1) |
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382 | (1) |
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Recording Impairment Losses |
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383 | (1) |
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What Do the Numbers Mean? Lost in Translation |
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383 | (2) |
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385 | (23) |
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408 | (6) |
Chapter 8 Valuation of Inventories: A Cost-Basis Approach: To Switch or Not to Switch |
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414 | (58) |
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416 | (5) |
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416 | (1) |
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417 | (2) |
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419 | (1) |
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What Do the Numbers Mean? Staying Lean |
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420 | (1) |
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Basic Issues in Inventory Valuation |
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420 | (1) |
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Physical Goods Included in Inventory |
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421 | (4) |
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421 | (1) |
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422 | (1) |
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422 | (1) |
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What Do the Numbers Mean? No Parking! |
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423 | (1) |
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Effect of Inventory Errors |
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423 | (2) |
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Costs Included in Inventory |
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425 | (3) |
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426 | (1) |
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426 | (1) |
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Treatment of Purchase Discounts |
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426 | (1) |
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What Do the Numbers Mean? You May Need a Map |
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427 | (1) |
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Which Cost Flow Assumption to Adopt? |
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428 | (4) |
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428 | (1) |
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429 | (1) |
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First-In, First-Out (FIFO) |
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430 | (1) |
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Last-In, First-Out (LIFO) |
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431 | (1) |
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Special Issues Related to LIFO |
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432 | (11) |
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432 | (1) |
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What Do the Numbers Mean? Comparing Apples to Apples |
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433 | (1) |
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434 | (1) |
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435 | (5) |
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What Do the Numbers Mean? Quite a Difference |
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440 | (1) |
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Comparison of LIFO Approaches |
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440 | (1) |
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441 | (1) |
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Major Disadvantages of LIFO |
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442 | (1) |
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Basis for Selection of Inventory Method |
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443 | (6) |
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Evolving Issue Repeat LIFO! |
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445 | (1) |
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Inventory Valuation Methods-Summary Analysis |
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445 | (4) |
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449 | (23) |
Chapter 9 Inventories: Additional Valuation Issues: Not What It Seems to Be |
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472 | (64) |
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474 | (7) |
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475 | (1) |
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How Lower-of-Cost-or-Market Works |
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476 | (1) |
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Methods of Applying Lower-of-Cost-or- Market |
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477 | (1) |
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Recording "Market" Instead of Cost |
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478 | (1) |
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479 | (1) |
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Use of an Allowance-Multiple Periods |
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480 | (1) |
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What Do the Numbers Mean? "Put It in Reverse" |
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480 | (1) |
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Evaluation of the Lower-of-Cost-or-Market Rule |
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481 | (1) |
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481 | (4) |
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Valuation at Net Realizable Value |
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481 | (1) |
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Valuation Using Relative Sales Value |
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482 | (1) |
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Purchase Commitments-A Special Problem |
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483 | (2) |
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The Gross Profit Method of Estimating Inventory |
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485 | (3) |
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Computation of Gross Profit Percentage |
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486 | (2) |
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Evaluation of Gross Profit Method |
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488 | (1) |
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What Do the Numbers Mean? The Squeeze |
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488 | (1) |
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488 | (6) |
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489 | (1) |
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Retail Inventory Method with Markups and Markdowns-Conventional Method |
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490 | (3) |
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Special Items Relating to Retail Method |
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493 | (1) |
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Evaluation of Retail Inventory Method |
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493 | (1) |
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Presentation and Analysis |
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494 | (3) |
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Presentation of Inventories |
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494 | (1) |
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495 | (2) |
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Appendix 9A LIFO Retail Methods |
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497 | (7) |
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Stable Prices-LIFO Retail Method |
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497 | (1) |
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Fluctuating Prices-Dollar-Value LIFO Retail Method |
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498 | (2) |
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Subsequent Adjustments Under Dollar-Value LIFO Retail |
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500 | (1) |
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Changing from Conventional Retail to LIFO |
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501 | (3) |
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504 | (21) |
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525 | (11) |
Chapter 10 Acquisition and Disposition of Property, Plant, and Equipment: Watch Your Spending |
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536 | (52) |
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Property, Plant, and Equipment |
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538 | (9) |
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Acquisition of Property, Plant, and Equipment |
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538 | (1) |
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539 | (1) |
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539 | (1) |
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540 | (1) |
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540 | (1) |
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Interest Costs During Construction |
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541 | (5) |
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What Do the Numbers Mean? What's in Your Interest? |
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546 | (1) |
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547 | (1) |
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Valuation of Property, Plant, and Equipment |
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547 | (9) |
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547 | (1) |
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Deferred-Payment Contracts |
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547 | (1) |
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548 | (1) |
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549 | (1) |
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Exchanges of Nonmonetary Assets |
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550 | (5) |
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What Do the Numbers Mean? About Those Swaps |
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555 | (1) |
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Accounting for Contributions |
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555 | (1) |
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Other Asset Valuation Methods |
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556 | (1) |
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Costs Subsequent to Acquisition |
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556 | (4) |
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What Do the Numbers Mean? Disconnected |
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557 | (1) |
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558 | (1) |
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Improvements and Replacements |
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558 | (1) |
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Rearrangement and Reinstallation |
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559 | (1) |
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559 | (1) |
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Summary of Costs Subsequent to Acquisition |
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560 | (1) |
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Disposition of Property, Plant, and Equipment |
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560 | (4) |
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560 | (1) |
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561 | (1) |
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561 | (3) |
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564 | (24) |
Chapter 11 Depreciation, Impairments, and Depletion: Here Come the Write-Offs |
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588 | (60) |
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Depreciation-A Method of Cost Allocation |
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590 | (11) |
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Factors Involved in the Depreciation Process |
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590 | (2) |
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What Do the Numbers Mean? Alphabet Dupe |
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592 | (1) |
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592 | (3) |
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Special Depreciation Methods |
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595 | (2) |
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What Do the Numbers Mean? Decelerating Depreciation |
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597 | (1) |
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Special Depreciation Issues |
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598 | (3) |
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What Do the Numbers Mean? Depreciation Choices |
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601 | (1) |
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601 | (3) |
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601 | (1) |
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602 | (1) |
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Restoration of Impairment Loss |
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603 | (1) |
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Impairment of Assets to Be Disposed Of |
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603 | (1) |
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604 | (5) |
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Establishing a Depletion Base |
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605 | (1) |
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Write-Off of Resource Cost |
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606 | (1) |
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Estimating Recoverable Reserves |
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607 | (1) |
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What Do the Numbers Mean? Reserve Surprise |
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607 | (1) |
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607 | (1) |
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608 | (1) |
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Evolving Issue Full-Cost or Successful-Efforts? |
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609 | (1) |
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Presentation and Analysis |
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609 | (5) |
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Presentation of Property, Plant, Equipment, and Natural Resources |
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609 | (2) |
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Analysis of Property, Plant, and Equipment |
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611 | (3) |
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Appendix 11A Income Tax Depreciation |
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614 | (1) |
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Modified Accelerated Cost Recovery System |
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614 | (2) |
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Tax Lives (Recovery Periods) |
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614 | (1) |
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615 | (1) |
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615 | (1) |
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Optional Straight-Line Method |
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616 | (1) |
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Tax versus Book Depreciation |
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617 | (1) |
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618 | (19) |
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637 | (11) |
Chapter 12 Intangible Assets: Is This Sustainable? |
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648 | (52) |
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650 | (3) |
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650 | (1) |
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650 | (1) |
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Amortization of Intangibles |
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651 | (2) |
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What Do the Numbers Mean? Definitely Indefinite |
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653 | (1) |
|
Types of Intangible Assets |
|
|
653 | (9) |
|
Marketing-Related Intangible Assets |
|
|
653 | (1) |
|
What Do the Numbers Mean? Keep Your Hands Off My Intangible! |
|
|
654 | (1) |
|
Customer-Related Intangible Assets |
|
|
654 | (1) |
|
Artistic-Related Intangible Assets |
|
|
655 | (1) |
|
Contract-Related Intangible Assets |
|
|
655 | (1) |
|
Technology-Related Intangible Assets |
|
|
656 | (1) |
|
What Do the Numbers Mean? Patent Battles |
|
|
657 | (1) |
|
What Do the Numbers Mean? The Value of a Secret Formula |
|
|
658 | (1) |
|
|
658 | (4) |
|
Impairment of Intangible Assets |
|
|
662 | (3) |
|
Impairment of Limited-Life Intangibles |
|
|
662 | (1) |
|
Impairment of Indefinite-Life Intangibles Other Than Goodwill |
|
|
662 | (1) |
|
|
663 | (1) |
|
|
664 | (1) |
|
What Do the Numbers Mean? Impairment Risk |
|
|
665 | (1) |
|
Research and Development Costs |
|
|
665 | (5) |
|
Identifying R&D Activities |
|
|
666 | (1) |
|
Accounting for R&D Activities |
|
|
667 | (1) |
|
Costs Similar to R&D Costs |
|
|
667 | (3) |
|
What Do the Numbers Mean? Branded |
|
|
670 | (1) |
|
Presentation of Intangibles and Related Items |
|
|
670 | (6) |
|
Presentation of Intangible Assets |
|
|
670 | (2) |
|
Presentation of Research and Development Costs |
|
|
672 | (1) |
|
Evolving Issue Recognition of R&D and Internally Generated Intangibles |
|
|
673 | (3) |
|
|
676 | (17) |
|
|
693 | (7) |
Chapter 13 Current Liabilities and Contingencies: Now You See It, Now You Don't |
|
700 | (62) |
|
|
702 | (13) |
|
|
703 | (1) |
|
|
703 | (2) |
|
Current Maturities of Long-Term Debt |
|
|
705 | (1) |
|
Short-Term Obligations Expected to Be Refinanced |
|
|
705 | (2) |
|
What Do the Numbers Mean? What About That Short-Term Debt? |
|
|
707 | (1) |
|
|
707 | (1) |
|
Customer Advances and Deposits |
|
|
707 | (1) |
|
|
708 | (1) |
|
What Do the Numbers Mean? Microsoft's Liabilities-Good or Bad? |
|
|
708 | (1) |
|
|
709 | (1) |
|
|
709 | (1) |
|
Employee-Related Liabilities |
|
|
710 | (5) |
|
|
715 | (11) |
|
|
715 | (1) |
|
|
716 | (6) |
|
What Do the Numbers Mean? Frequent Flyers |
|
|
722 | (4) |
|
What Do the Numbers Mean? More Disclosure, Please |
|
|
726 | (1) |
|
Presentation and Analysis |
|
|
726 | (7) |
|
Presentation of Current Liabilities |
|
|
726 | (2) |
|
Presentation of Contingencies |
|
|
728 | (1) |
|
Analysis of Current Liabilities |
|
|
729 | (1) |
|
Evolving Issue Greenhouse Gases: Let's Be Standard-Setters |
|
|
730 | (3) |
|
|
733 | (20) |
|
|
753 | (9) |
Chapter 14 Long-Term Liabilities: Going Long |
|
762 | (58) |
|
|
764 | (12) |
|
|
764 | (1) |
|
|
764 | (1) |
|
What Do the Numbers Mean? All About Bonds |
|
|
765 | (1) |
|
Valuation of Bonds Payable-Discount and Premium |
|
|
766 | (2) |
|
What Do the Numbers Mean? How's My Rating? |
|
|
768 | (1) |
|
Bonds Issued at Par on Interest Date |
|
|
768 | (1) |
|
Bonds Issued at Discount or Premium on Interest Date |
|
|
768 | (2) |
|
Bonds Issued Between Interest Dates |
|
|
770 | (1) |
|
Effective-Interest Method |
|
|
770 | (4) |
|
|
774 | (1) |
|
|
775 | (1) |
|
What Do the Numbers Mean? Your Debt Is Killing My Equity |
|
|
776 | (1) |
|
|
776 | (7) |
|
Notes Issued at Face Value |
|
|
777 | (1) |
|
Notes Not Issued at Face Value |
|
|
777 | (2) |
|
Special Notes Payable Situations |
|
|
779 | (3) |
|
|
782 | (1) |
|
|
782 | (1) |
|
Reporting and Analyzing Liabilities |
|
|
783 | (7) |
|
Off-Balance-Sheet Financing |
|
|
783 | (2) |
|
What Do the Numbers Mean? Obligated |
|
|
785 | (1) |
|
Presentation and Analysis of Long-Term Debt |
|
|
786 | (2) |
|
Evolving Issue Fair Value of Liabilities: Pick a Number, Any Number |
|
|
788 | (2) |
|
Appendix 14A Troubled-Debt Restructurings |
|
|
790 | (1) |
|
|
791 | (1) |
|
|
791 | (1) |
|
Granting of Equity Interest |
|
|
791 | (1) |
|
|
792 | (4) |
|
Example 1-No Gain for Debtor |
|
|
792 | (3) |
|
Example 2-Gain for Debtor |
|
|
795 | (1) |
|
|
796 | (2) |
|
|
798 | (17) |
|
|
815 | (5) |
Chapter 15 Stockholders' Equity: It's a Global Market |
|
820 | (62) |
|
The Corporate Form of Organization |
|
|
822 | (2) |
|
|
822 | (1) |
|
What Do the Numbers Mean? 1209 North Orange Street |
|
|
822 | (1) |
|
Capital Stock or Share System |
|
|
823 | (1) |
|
Variety of Ownership Interests |
|
|
824 | (1) |
|
|
824 | (10) |
|
|
825 | (4) |
|
What Do the Numbers Mean? The Case of the Disappearing Receivable |
|
|
829 | (1) |
|
|
829 | (1) |
|
What Do the Numbers Mean? Buybacks-Good or Bad? |
|
|
830 | (4) |
|
|
834 | (3) |
|
Features of Preferred Stock |
|
|
834 | (2) |
|
What Do the Numbers Mean? A Class (B) Act |
|
|
836 | (1) |
|
Accounting for and Reporting Preferred Stock |
|
|
836 | (1) |
|
|
837 | (10) |
|
Financial Condition and Dividend Distributions |
|
|
837 | (1) |
|
|
838 | (3) |
|
Stock Dividends and Stock Splits |
|
|
841 | (3) |
|
What Do the Numbers Mean? Splitsville |
|
|
844 | (2) |
|
What Do the Numbers Mean? Dividends Up, Dividends Down |
|
|
846 | (1) |
|
Disclosure of Restrictions on Retained Earnings |
|
|
846 | (1) |
|
Presentation and Analysis of Stockholders' Equity |
|
|
847 | (5) |
|
|
847 | (2) |
|
|
849 | (3) |
|
Appendix 15A Dividend Preferences and Book Value per Share |
|
|
852 | (1) |
|
|
852 | (1) |
|
|
853 | (3) |
|
|
856 | (18) |
|
|
874 | (8) |
Chapter 16 Dilutive Securities and Earnings per Share: Kicking the Habit |
|
882 | (68) |
|
|
884 | (9) |
|
|
884 | (1) |
|
Accounting for Convertible Debt |
|
|
884 | (2) |
|
Convertible Preferred Stock |
|
|
886 | (1) |
|
What Do the Numbers Mean? How Low Can You Go? |
|
|
887 | (1) |
|
|
887 | (3) |
|
Evolving Issue Is That All Debt? |
|
|
890 | (3) |
|
Accounting for Stock Compensation |
|
|
893 | (6) |
|
|
893 | (1) |
|
|
894 | (2) |
|
Employee Stock-Purchase Plans |
|
|
896 | (1) |
|
Disclosure of Compensation Plans |
|
|
897 | (1) |
|
Debate over Stock-Option Accounting |
|
|
897 | (2) |
|
What Do the Numbers Mean? A Little Honesty Goes a Long Way |
|
|
899 | (1) |
|
Computing Earnings per Share |
|
|
899 | (14) |
|
Earnings per Share-Simple Capital Structure |
|
|
900 | (4) |
|
Earnings per Share-Complex Capital Structure |
|
|
904 | (7) |
|
What Do the Numbers Mean? Pro Forma EPS Confusion |
|
|
911 | (2) |
|
Appendix 16A Accounting for Stock-Appreciation Rights |
|
|
913 | (3) |
|
SARS-Share-Based Equity Awards |
|
|
914 | (1) |
|
SARS-Share-Based Liability Awards |
|
|
914 | (1) |
|
Stock-Appreciation Rights Example |
|
|
915 | (1) |
|
Appendix 16B Comprehensive Earnings per Share Example |
|
|
916 | (7) |
|
Diluted Earnings per Share |
|
|
918 | (5) |
|
|
923 | (18) |
|
|
941 | (9) |
Chapter 17 Investments: What to Do? |
|
950 | (90) |
|
Investments in Debt Securities |
|
|
952 | (8) |
|
Debt Investment Classifications |
|
|
952 | (1) |
|
Held-to-Maturity Securities |
|
|
953 | (2) |
|
Available-for-Sale Securities |
|
|
955 | (4) |
|
What Do the Numbers Mean? What Is Fair Value? |
|
|
959 | (1) |
|
|
959 | (1) |
|
Investments in Equity Securities |
|
|
960 | (7) |
|
Holdings of Less Than 20% |
|
|
961 | (3) |
|
What Do the Numbers Mean? More Disclosure, Please |
|
|
964 | (1) |
|
Holdings Between 20% and 50% |
|
|
964 | (2) |
|
Holdings of More Than 50% |
|
|
966 | (1) |
|
What Do the Numbers Mean? Who's in Control Here? |
|
|
967 | (1) |
|
Additional Measurement Issues |
|
|
967 | (3) |
|
|
967 | (1) |
|
Evolving Issue Fair Value Controversy |
|
|
968 | (1) |
|
|
969 | (1) |
|
Reclassifications and Transfers |
|
|
970 | (7) |
|
Reclassification Adjustments |
|
|
970 | (4) |
|
Transfers Between Categories |
|
|
974 | (1) |
|
Summary of Reporting Treatment of Securities |
|
|
975 | (1) |
|
Evolving Issue Classification and Measurement-The Long Road |
|
|
975 | (2) |
|
Appendix 17A Accounting for Derivative Instruments |
|
|
977 | (19) |
|
|
977 | (1) |
|
Who Uses Derivatives, and Why? |
|
|
978 | (2) |
|
|
978 | (1) |
|
Speculators and Arbitrageurs |
|
|
979 | (1) |
|
Basic Principles in Accounting for Derivatives |
|
|
980 | (3) |
|
Example of Derivative Financial Instrument- Speculation |
|
|
980 | (3) |
|
Differences Between Traditional and Derivative Financial Instruments |
|
|
983 | (1) |
|
Derivatives Used for Hedging |
|
|
983 | (6) |
|
What Do the Numbers Mean? Risky Business |
|
|
984 | (1) |
|
|
984 | (3) |
|
|
987 | (2) |
|
|
989 | (2) |
|
|
989 | (1) |
|
Qualifying Hedge Criteria 989. Summary of Derivatives Accounting |
|
|
990 | (1) |
|
Comprehensive Hedge Accounting Example |
|
|
991 | (4) |
|
|
992 | (2) |
|
Financial Statement Presentation of an Interest Rate Swap |
|
|
994 | (1) |
|
Controversy and Concluding Remarks |
|
|
995 | (1) |
|
Appendix 17B Variable-Interest Entities |
|
|
996 | (3) |
|
|
997 | (1) |
|
Consolidation of Variable-Interest Entities |
|
|
997 | (2) |
|
|
998 | (1) |
|
What Is Happening in Practice? |
|
|
999 | (1) |
|
Appendix 17C Fair Value Disclosures |
|
|
999 | (4) |
|
Disclosure of Fair Value Information: Financial Instruments |
|
|
1000 | (3) |
|
Disclosure of Fair Values: Impaired Assets or Liabilities |
|
|
1003 | (1) |
|
|
1003 | (2) |
|
|
1005 | (21) |
|
|
1026 | (14) |
Chapter 18 Revenue Recognition: It's Back |
|
1040 | (76) |
|
Overview of Revenue Recognition |
|
|
1042 | (3) |
|
Guidelines for Revenue Recognition |
|
|
1043 | (1) |
|
Departures from the Sale Basis |
|
|
1044 | (1) |
|
What Do the Numbers Mean? Liability or Revenue? |
|
|
1045 | (1) |
|
Revenue Recognition at Point of Sale (Delivery) |
|
|
1045 | (12) |
|
|
1046 | (1) |
|
Sales with Right of Return |
|
|
1047 | (2) |
|
|
1049 | (1) |
|
|
1050 | (1) |
|
Principal-Agent Relationships |
|
|
1050 | (1) |
|
What Do the Numbers Mean? Grossed Out |
|
|
1051 | (2) |
|
Trade Loading and Channel Stuffing |
|
|
1053 | (1) |
|
What Do the Numbers Mean? No Take-Backs |
|
|
1053 | (1) |
|
Multiple-Deliverable Arrangements |
|
|
1054 | (2) |
|
|
1056 | (1) |
|
Revenue Recognition before Delivery |
|
|
1057 | (11) |
|
Percentage-of-Completion Method |
|
|
1058 | (5) |
|
Completed-Contract Method |
|
|
1063 | (1) |
|
Long-Term Contract Losses |
|
|
1064 | (3) |
|
What Do the Numbers Mean? Less Conservative |
|
|
1067 | (1) |
|
Disclosures in Financial Statements |
|
|
1068 | (1) |
|
Completion-of-Production Basis |
|
|
1068 | (1) |
|
Revenue Recognition after Delivery |
|
|
1068 | (13) |
|
|
1068 | (9) |
|
|
1077 | (1) |
|
|
1078 | (1) |
|
Summary and Concluding Remarks |
|
|
1079 | (2) |
|
Appendix 18A Revenue Recognition for Franchises |
|
|
1081 | (2) |
|
|
1082 | (36) |
|
Example of Entries for Initial Franchise Fee |
|
|
1082 | (1) |
|
Continuing Franchise Fees |
|
|
1083 | (1) |
|
|
1083 | (1) |
|
|
1084 | (1) |
|
|
1084 | (1) |
|
Disclosures of Franchisors |
|
|
1084 | (2) |
|
|
1086 | (23) |
|
|
1109 | (7) |
Chapter 19 Accounting for Income Taxes: How Much Is Enough? |
|
1116 | (66) |
|
Fundamentals of Accounting for Income Taxes |
|
|
1118 | (14) |
|
Future Taxable Amounts and Deferred Taxes |
|
|
1119 | (3) |
|
What Do the Numbers Mean? "Real Liabilities" |
|
|
1122 | (1) |
|
Future Deductible Amounts and Deferred Taxes |
|
|
1123 | (2) |
|
What Do the Numbers Mean? "Real Assets" |
|
|
1125 | (1) |
|
Deferred Tax Asset-Valuation Allowance |
|
|
1125 | (1) |
|
Income Statement Presentation |
|
|
1126 | (1) |
|
|
1127 | (3) |
|
|
1130 | (1) |
|
What Do the Numbers Mean? Global Tax Rates |
|
|
1131 | (1) |
|
Accounting for Net Operating Losses |
|
|
1132 | (6) |
|
|
1132 | (1) |
|
|
1132 | (1) |
|
|
1133 | (1) |
|
Loss Carryforward Example |
|
|
1134 | (4) |
|
What Do the Numbers Mean? NOLs: Good News or Bad? |
|
|
1138 | (1) |
|
Financial Statement Presentation |
|
|
1138 | (6) |
|
|
1138 | (2) |
|
What Do the Numbers Mean? Imagination at Work |
|
|
1140 | (1) |
|
|
1141 | (2) |
|
Evolving Issue Uncertain Tax Positions |
|
|
1143 | (1) |
|
Review of the Asset-Liability Method |
|
|
1144 | (3) |
|
Appendix 19A Comprehensive Example of Interperiod Tax Allocation |
|
|
1147 | (9) |
|
|
1147 | (4) |
|
Taxable Income and Income Taxes Payable-2013 |
|
|
1148 | (1) |
|
Computing Deferred Income Taxes- End of 2013 |
|
|
1148 | (1) |
|
Deferred Tax Expense (Benefit) and the Journal Entry to Record Income Taxes-2013 |
|
|
1149 | (1) |
|
Financial Statement Presentation-2013 |
|
|
1150 | (1) |
|
|
1151 | (33) |
|
Taxable Income and Income Taxes Payable-2014 |
|
|
1152 | (1) |
|
Computing Deferred Income Taxes-End of 2014 |
|
|
1152 | (1) |
|
Deferred Tax Expense (Benefit) and the Journal Entry to Record Income Taxes-2014 |
|
|
1153 | (1) |
|
Financial Statement Presentation-2014 |
|
|
1153 | (3) |
|
|
1156 | (19) |
|
|
1175 | (7) |
Chapter 20 Accounting for Pensions and Postretirement Benefits: Where Have All the Pensions Gone? |
|
1182 | (86) |
|
|
1184 | (3) |
|
Defined Contribution Plan |
|
|
1185 | (1) |
|
|
1185 | (1) |
|
What Do the Numbers Mean? Which Plan Is Right for You? |
|
|
1186 | (1) |
|
The Role of Actuaries in Pension Accounting |
|
|
1187 | (1) |
|
|
1187 | (5) |
|
Alternative Measures of the Liability |
|
|
1187 | (2) |
|
Recognition of the Net Funded Status of the Pension Plan |
|
|
1189 | (1) |
|
Components of Pension Expense |
|
|
1189 | (3) |
|
Using a Pension Worksheet |
|
|
1192 | (12) |
|
2014 Entries and Worksheet |
|
|
1192 | (2) |
|
Amortization of Prior Service Cost (PSC) |
|
|
1194 | (1) |
|
2015 Entries and Worksheet |
|
|
1195 | (2) |
|
|
1197 | (1) |
|
What Do the Numbers Mean? Pension Costs Ups and Downs |
|
|
1198 | (1) |
|
|
1199 | (3) |
|
Evolving Issue Bye Bye Corridor |
|
|
1202 | (1) |
|
2016 Entries and Worksheet |
|
|
1202 | (2) |
|
What Do the Numbers Mean? Roller Coaster |
|
|
1204 | (1) |
|
Reporting Pension Plans in Financial Statements |
|
|
1204 | (13) |
|
Within the Financial Statements |
|
|
1205 | (2) |
|
Within the Notes to the Financial Statements |
|
|
1207 | (1) |
|
Example of Pension Note Disclosure |
|
|
1208 | (2) |
|
2017 Entries and Worksheet-A Comprehensive Example |
|
|
1210 | (1) |
|
|
1211 | (2) |
|
What Do the Numbers Mean? Who Guarantees the Guarantor? |
|
|
1213 | (2) |
|
|
1215 | (2) |
|
Appendix 20A Accounting for Postretirement Benefits |
|
|
1217 | (12) |
|
|
1217 | (1) |
|
Differences Between Pension Benefits and Healthcare Benefits |
|
|
1218 | (1) |
|
What Do the Numbers Mean? OPEBs-How Big Are They? |
|
|
1219 | (1) |
|
Postretirement Benefits Accounting Provisions |
|
|
1219 | (2) |
|
Obligations Under Postretirement Benefits |
|
|
1220 | (1) |
|
|
1220 | (1) |
|
Illustrative Accounting Entries |
|
|
1221 | (4) |
|
2014 Entries and Worksheet |
|
|
1221 | (2) |
|
Recognition of Gains and Losses |
|
|
1223 | (1) |
|
2015 Entries and Worksheet |
|
|
1223 | (1) |
|
Amortization of Net Gain or Loss in 2016 |
|
|
1224 | (1) |
|
Disclosures in Notes to the Financial Statements |
|
|
1225 | (1) |
|
Actuarial Assumptions and Conceptual Issues |
|
|
1225 | (45) |
|
What Do the Numbers Mean? Want Some Bad News? |
|
|
1227 | (2) |
|
|
1229 | (21) |
|
|
1250 | (18) |
Chapter 21 Accounting for Leases: More Companies Ask, "Why Buy?" |
|
1268 | (74) |
|
|
1270 | (4) |
|
|
1270 | (2) |
|
|
1272 | (1) |
|
What Do the Numbers Mean? Off-Balance-Sheet Financing |
|
|
1273 | (1) |
|
Conceptual Nature of a Lease |
|
|
1273 | (1) |
|
|
1274 | (10) |
|
|
1275 | (3) |
|
Asset and Liability Accounted for Differently |
|
|
1278 | (1) |
|
Capital Lease Method (Lessee) |
|
|
1278 | (3) |
|
Operating Method (Lessee) |
|
|
1281 | (1) |
|
What Do the Numbers Mean? Restatements on the Menu |
|
|
1281 | (1) |
|
Comparison of Capital Lease with Operating Lease |
|
|
1282 | (1) |
|
Evolving Issue Are You Liable? |
|
|
1283 | (1) |
|
|
1284 | (5) |
|
|
1284 | (1) |
|
Classification of Leases by the Lessor |
|
|
1285 | (1) |
|
Direct-Financing Method (Lessor) |
|
|
1286 | (3) |
|
Operating Method (Lessor) |
|
|
1289 | (1) |
|
Special Lease Accounting Problems |
|
|
1289 | (17) |
|
|
1290 | (6) |
|
Sales-Type Leases (Lessor) |
|
|
1296 | (2) |
|
What Do the Numbers Mean? Xerox Takes on the SEC |
|
|
1298 | (1) |
|
Bargain-Purchase Option (Lessee) |
|
|
1298 | (1) |
|
Initial Direct Costs (Lessor) |
|
|
1298 | (1) |
|
Current versus Noncurrent |
|
|
1299 | (1) |
|
|
1300 | (2) |
|
Unresolved Lease Accounting Problems |
|
|
1302 | (1) |
|
Evolving Issue Lease Accounting-If It Quacks Like a Duck |
|
|
1303 | (3) |
|
Appendix 21A Sale-Leasebacks |
|
|
1306 | (7) |
|
|
1307 | (1) |
|
|
1307 | (1) |
|
|
1308 | (1) |
|
|
1308 | (5) |
|
|
1313 | (18) |
|
|
1331 | (11) |
Chapter 22 Accounting Changes and Error Analysis: In the Dark |
|
1342 | (68) |
|
|
1344 | (1) |
|
Changes in Accounting Principle |
|
|
1344 | (13) |
|
What Do the Numbers Mean? Quite a Change |
|
|
1346 | (1) |
|
Retrospective Accounting Change Approach |
|
|
1346 | (2) |
|
What Do the Numbers Mean? Change Management |
|
|
1348 | (7) |
|
Direct and Indirect Effects of Changes |
|
|
1355 | (1) |
|
|
1356 | (1) |
|
Changes in Accounting Estimates |
|
|
1357 | (2) |
|
|
1357 | (1) |
|
|
1358 | (1) |
|
Changes in Reporting Entity |
|
|
1359 | (1) |
|
|
1359 | (7) |
|
Example of Error Correction |
|
|
1361 | (2) |
|
Summary of Accounting Changes and Correction of Errors |
|
|
1363 | (1) |
|
What Do the Numbers Mean? Can I Get My Money Back? |
|
|
1364 | (1) |
|
Motivations for Change of Accounting Method |
|
|
1365 | (1) |
|
|
1366 | (11) |
|
|
1366 | (1) |
|
|
1367 | (1) |
|
Balance Sheet and Income Statement Errors |
|
|
1367 | (3) |
|
Comprehensive Example: Numerous Errors |
|
|
1370 | (2) |
|
What Do the Numbers Mean? Guard the Financial Statements! |
|
|
1372 | (1) |
|
Preparation of Financial Statements with Error Corrections |
|
|
1373 | (4) |
|
Appendix 22A Changing from or to the Equity Method |
|
|
1377 | (4) |
|
Change from the Equity Method |
|
|
1377 | (1) |
|
Dividends in Excess of Earnings |
|
|
1377 | (1) |
|
Change to the Equity Method |
|
|
1378 | (3) |
|
|
1381 | (23) |
|
|
1404 | (6) |
Chapter 23 Statement of Cash Flows: Show Me the Money! |
|
1410 | (76) |
|
Preparation of the Statement of Cash Flows |
|
|
1412 | (4) |
|
Usefulness of the Statement of Cash Flows |
|
|
1412 | (1) |
|
Classification of Cash Flows |
|
|
1413 | (1) |
|
What Do the Numbers Mean? How's My Cash Flow? |
|
|
1414 | (1) |
|
Format of the Statement of Cash Flows |
|
|
1415 | (1) |
|
|
1415 | (1) |
|
Illustrations-Tax Consultants Inc. |
|
|
1416 | (18) |
|
Step 1: Determine the Change in Cash |
|
|
1417 | (1) |
|
Step 2: Determine Net Cash Flow from Operating Activities |
|
|
1417 | (2) |
|
What Do the Numbers Mean? Earnings and Cash Flow Management? |
|
|
1419 | (1) |
|
Step 3: Determine Net Cash Flows from Investing and Financing Activities |
|
|
1419 | (1) |
|
Statement of Cash Flows-2013 |
|
|
1419 | (1) |
|
|
1420 | (3) |
|
|
1423 | (3) |
|
Sources of Information for the Statement of Cash Flows |
|
|
1426 | (2) |
|
Net Cash Flow from Operating Activities- Direct Method |
|
|
1428 | (5) |
|
Evolving Issue Direct versus Indirect |
|
|
1433 | (1) |
|
Special Problems in Statement Preparation |
|
|
1434 | (9) |
|
Adjustments to Net Income |
|
|
1434 | (4) |
|
Accounts Receivable (Net) |
|
|
1438 | (1) |
|
What Do the Numbers Mean? Not What It Seems |
|
|
1439 | (1) |
|
Other Working Capital Changes |
|
|
1440 | (1) |
|
|
1440 | (1) |
|
Significant Noncash Transactions |
|
|
1441 | (1) |
|
What Do the Numbers Mean? Cash Flow Tool |
|
|
1442 | (1) |
|
|
1443 | (11) |
|
Preparation of the Worksheet |
|
|
1444 | (1) |
|
|
1444 | (7) |
|
Preparation of Final Statement |
|
|
1451 | (3) |
|
|
1454 | (26) |
|
|
1480 | (6) |
Chapter 24 Full Disclosure in Financial Reporting: High-Quality Financial Reporting-Always in Fashion |
|
1486 | |
|
Full Disclosure Principle |
|
|
1488 | (3) |
|
Increase in Reporting Requirements |
|
|
1489 | (1) |
|
|
1489 | (1) |
|
Evolving Issue Disclosure-Quantity and Quality |
|
|
1490 | (1) |
|
Notes to the Financial Statements |
|
|
1491 | (2) |
|
|
1491 | (1) |
|
|
1491 | (2) |
|
What Do the Numbers Mean? Footnote Secrets |
|
|
1493 | (1) |
|
|
1493 | (15) |
|
Disclosure of Special Transactions or Events |
|
|
1493 | (2) |
|
Post-Balance-Sheet Events (Subsequent Events) |
|
|
1495 | (2) |
|
Reporting for Diversified (Conglomerate) Companies |
|
|
1497 | (4) |
|
|
1501 | (6) |
|
Evolving Issue It's Faster but Is It Better? |
|
|
1507 | (1) |
|
Auditor's and Management's Reports |
|
|
1508 | (5) |
|
|
1508 | (3) |
|
What Do the Numbers Mean? Heart of the Matter |
|
|
1511 | (1) |
|
|
1511 | (2) |
|
|
1513 | (9) |
|
Reporting on Financial Forecasts and Projections |
|
|
1513 | (2) |
|
What Do the Numbers Mean? Global Forecasts |
|
|
1515 | (1) |
|
Internet Financial Reporting |
|
|
1516 | (1) |
|
What Do the Numbers Mean? New Formats, New Disclosure |
|
|
1517 | (1) |
|
Fraudulent Financial Reporting |
|
|
1517 | (2) |
|
What Do the Numbers Mean? Disclosure Overload |
|
|
1519 | (1) |
|
Criteria for Making Accounting and Reporting Choices |
|
|
1520 | (2) |
|
Appendix 24A Basic Financial Statement Analysis |
|
|
1522 | (8) |
|
Perspective on Financial Statement Analysis |
|
|
1522 | (1) |
|
|
1523 | (3) |
|
Limitations of Ratio Analysis |
|
|
1524 | (2) |
|
|
1526 | (1) |
|
Percentage (Common-Size) Analysis |
|
|
1527 | (3) |
|
|
1530 | (18) |
|
|
1548 | |
Index |
|
I-1 | |