Finance and accounting Books

Book SynopsisFind a method to evaluate stocks and build a record of impressive returns Short Selling for the Long Term describes the methods used by Joseph Parnes, President of Technomart, to obtain consistent returns in the stock market. Most investors fail to exceed the returns represented by the Standard and Poor's Stock Index, but Parnes often does using his investment philosophy. This book outlines his method of stock assessment, providing an understandable formula. If the formula tells a reader to buy a stock, then, as explained, there is a significant chance that stock will go up. If the formula tells a reader to short a stock, then the book shows how there is a significant chance that the stock will go down. Parnes advocates the use of short selling as a long-term strategy in combination with long positions, so advisors and individual investors alike can profit in both rising and falling markets. While most investing books focus on how to make money over the lTable of ContentsPreface ix Chapter 1 Investment Philosophy 1 Chapter 2 The Bank of England Lecture 9 Chapter 3 Portfolio Management—General Principles 19 Chapter 4 Explanation of the Use of the 50-Day Moving Average and 200-Day Moving Average 31 Chapter 5 The Theory Behind the “Parnes Parameters”: Using Pattern Recognition, Retrospective Analysis, and Bayesian Analytics 43 Chapter 6 Variables to Consider for the Parnes Parameters 63 Chapter 7 Shorting for the Long Term 81 Chapter 8 A Case Study for a Stock I Shorted for the Long Term—Chipotle 107 Chapter 9 Case Studies for Integrating Shorts for the Long Term with Longs 121 Chapter 10 Modern Trader Charts 159 Glossary 215 Index 227

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Book SynopsisIntroduction to Finance, 17th Edition offers students a balanced introduction to the three major areas of finance: institutions and markets, investments, and financial management. Updated to incorporate recent economic and financial events, this new edition is an ideal textbook for first courses in financereviewing the discipline's essential concepts, principles, and practices in a clear, reader-friendly manner. Students gain an integrated perspective of finance by learning how markets and institutions influence, and are influenced by, individuals, businesses, and governments. Designed to impart financial literacy to readers with no previous background in the subject, the text provides a solid foundation for students to build upon in later courses in financial management, investments, or financial markets. Equations and mathematical concepts are kept to a minimum, and include understandable, step-by-step solutions. Divided into three parts, the book explainsTable of ContentsPreface iv Author Bios xii Part 1 Institutions and Markets 1 The Financial Environment 5 1.1 What is Finance? 6 1.2 Why Study Finance? 8 1.3 Six Principles of Finance 10 1.4 Overview of the Financial System 13 1.5 Financial Markets: Characteristics and Types 17 1.6 Careers in Finance 18 1.7 The Plan of Study 20 Applying Finance To. . . 21 Summary 21 Key Terms 22 Review Questions 22 Exercises 22 2 Money and the Monetary System 24 2.1 The 2007–2008 Financial Crisis and Subsequent Recovery 25 2.2 Process of Moving Savings into Investments 26 2.3 Overview of the Monetary System 28 2.4 Characteristics and Functions of Money 29 2.5 Development of Money in the United States 31 2.6 Money Market Securities 37 2.7 Measures of the U.S. Money Supply 38 2.8 Money Supply and Economic Activity 41 2.9 International Monetary System 42 Applying Finance To. . . 44 Summary 44 Key Terms 45 Review Questions 45 Exercises 46 Problems 47 3 Banks and Other Financial Institutions 49 3.1 Financial Institution Problems During the 2007–2008 Financial Crisis 50 3.2 Types and Roles of Financial Institutions 51 3.3 Overview of the Banking System 55 3.4 Historical Development of the U.S. Banking System 58 3.5 Regulation of the Banking System 60 3.6 Structure of Banks 65 3.7 The Bank Balance Sheet 66 3.8 Bank Management 71 3.9 International Banking and Foreign Systems 75 Applying Finance To. . . 76 Summary 77 Key Terms 78 Review Questions 78 Exercises 79 Problems 79 4 Federal Reserve System 82 4.1 U.S. Central Bank Response to the Financial Crisis and Great Recession 83 4.2 The U.S. Banking System Prior to the Fed 84 4.3 Structure of the Federal Reserve System 86 4.4 Monetary Policy Functions and Instruments 92 4.5 Fed Supervisory and Regulatory Functions 99 4.6 Fed Service Functions 101 4.7 Central Banks in Other Countries 103 Applying Finance To. . . 104 Summary 104 Key Terms 105 Review Questions 105 Exercises 106 Problems 107 5 Policy Makers and the Money Supply 109 5.1 National Economic Policy Objectives 110 5.2 Four Policy Maker Groups 112 5.3 Government Influence on the Economy 114 5.4 Treasury Cash and General Management Responsibilities 116 5.5 Treasury Deficit Financing and Debt Management Responsibilities 120 5.6 Changing the Money Supply 122 5.7 Factors Affecting Bank Reserves 128 5.8 The Monetary Base and the Money Multiplier 131 Applying Finance To. . . 133 Summary 133 Key Terms 134 Review Questions 134 Exercises 135 Problems 135 6 International Finance and Trade 137 6.1 International Monetary System 138 6.2 European Unification 140 6.3 Currency Exchange Markets and Rates 142 6.4 Factors that Affect Currency Exchange Rates 145 6.5 Conducting Business Internationally 149 6.6 Financing International Trade 151 6.7 Developments in U.S. International Transactions 157 Applying Finance To. . . 161 Summary 161 Key Terms 162 Review Questions 162 Exercises 163 Problems 164 6.8 Exchange Rate Risks in Global Business 166 Hedging Cash Flows 167 Speculating or Taking Educated Guesses on Exchange Rate Movements 168 Where to Invest? 168 Summary 169 Review Questions 170 Part 2 Investments 7 Savings and Investment Process 173 7.1 Gross Domestic Product and Capital Formation 174 7.2 Federal Government Receipts and Expenditures 177 7.3 Role and Major Sources of Savings 180 7.4 Factors Affecting Savings 184 7.5 Capital Market Securities 187 7.6 Mortgage Markets 189 7.7 Role of the Individual in the 2007–2008 Financial Crisis and Today 191 Applying Finance To. . . 193 Summary 193 Key Terms 194 Review Questions 194 Exercises 195 Problems 195 8 Interest Rates 197 8.1 Supply and Demand for Loanable Funds 198 8.2 Components of Market Interest Rates 203 8.3 Default Risk-Free Securities: 8.4 Term or Maturity Structure of Interest Rates 210 8.5 Inflation Premiums and Price Movements 213 8.6 Default Risk Premiums 218 Applying Finance To. . . 220 Summary 220 Key Terms 221 Review Questions 221 Exercises 222 Problems 223 9 Time Value of Money 225 9.1 Basic Time Value Concepts 226 9.2 Compounding to Determine Future Values 228 9.3 Discounting to Determine Present Values 232 9.4 Finding Interest Rates and Time Requirements 237 9.5 Future Value of an Annuity 239 9.6 Present Value of an Annuity 242 9.7 Interest Rates and Time Requirements for Annuities 245 9.8 Determining Periodic Annuity Payments 247 9.9 More Frequent Time Intervals and the Cost of Consumer Credit 249 Applying Finance To. . . 252 Summary 253 Key Terms 253 Review Questions 254 Exercises 254 Problems 254 9.10 Annuity Due Problems 257 Future Value of an Annuity Due 257 Present Value of an Annuity Due 258 Interest Rates and Time Requirements for Annuity Due Problems 259 Summary 260 Questions and Problems 260 10 Bonds and Stocks: Characteristics and Valuations 262 10.1 Long-Term External Financing Sources for Businesses 263 10.2 Bonds 264 10.3 Different Types of Bonds 271 10.4 Corporate Equity Capital 275 10.5 Dividends and Stock Repurchases 279 10.6 Valuation Principles 283 10.7 Valuation of Bonds 286 10.8 Valuation of Stocks 293 Applying Finance To. . . 298 Summary 298 Key Terms 299 Review Questions 300 Problems 301 10.9 Holding Period Returns 305 Annualized Rates of Return 305 Summary 307 Problems 307 11 Securities and Markets 308 11.1 Issuing Securities: Primary Securities Markets 309 11.2 The Facebook IPO 313 11.3 Other Ways to Assist Issuing Firms 316 11.4 Cost of Going Public 318 11.5 Investment Banking Firms: Other Functions Innovations Regulations 321 11.6 Trading Securities – Secondary Securities Markets 323 11.7 Security Transactions 326 11.8 Over-the-Counter Market 330 11.9 What Makes a Good Market? 331 11.10 Security Market Indexes and Trading Foreign Securities 333 11.11 Inside Information and Other Ethical Issues 336 Applying Finance To. . . 338 Summary 339 Key Terms 340 Review Questions 341 Problems 341 11.12 Why Do Derivatives Exist? 344 Futures Contracts 345 Options 346 Option Profit/Loss Diagrams 349 Summary 350 Key Terms 350 Discussion Questions 350 Problems 351 12 Financial Return and Risk Concepts 352 12.1 Historical Return for a Single Financial Asset 353 12.2 Historical Risk Measures for a Single Financial Asset 355 12.3 Where Does Risk Come from? 358 12.4 Expected Measures of Return and Risk 360 12.5 Historical Returns and Risk of Different Assets 364 12.6 Efficient Capital Markets 365 12.7 Portfolio Returns 368 12.8 Variance and Standard Deviation of Return On a Portfolio 369 12.9 Portfolio Risk and the Number of Investments in the Portfolio 372 12.10 Capital Asset Pricing Model 374 Applying Finance To. . . 378 Summary 378 Key Terms 379 Review Questions 379 Problems 380 12.11A Estimating Beta 384 12.11B Security Market Line 386 Summary 387 Problems 387 Part 3 Financial Management 13 Business Organization and Financial Data 391 13.1 Starting a Business 392 13.2 Forms of Business Organization in the United States 394 13.3 Accounting Principles 398 13.4 Income Statement 401 13.5 The Balance Sheet 402 13.6 Statement of Cash Flows 405 13.7 Financial Statements of Different Companies 407 13.8 Goal of a Firm 410 13.9 Corporate Governance 414 13.10 Finance in the Organization Chart 418 Applying Finance To. . . 420 Summary 420 Key Terms 421 Review Questions 421 Problems 422 13.11A Income Tax 427 13.11B Depreciation Basics 429 13.11.1 A Few Words on Depreciation Methods 430 Summary 431 Review Questions and Problems 431 14 Financial Analysis and Long-Term Financial Planning 432 14.1 Financial Statement Analysis 433 14.2 Liquidity Ratios and Analysis 436 14.3 Asset Management Ratios and Analysis 438 14.4 Financial Leverage Ratios and Analysis 441 14.5 Profitability Ratios and Analysis 445 14.6 Market Value Ratios and Analysis 447 14.7 Dupont Method of Ratio Analysis 449 14.8 Long-Term Financial Planning 452 14.9 Cost–Volume–Profit Analysis 455 14.10 Degree of Operating Leverage 456 Applying Finance To. . . 458 Summary 459 Key Terms 460 Review Questions 460 Problems 461 15 Managing Working Capital 466 15.1 Importance of Working Capital 467 15.2 Operating and Cash Conversion Cycles 468 15.3 Investments in Receivables Inventory and Payable Financing 472 15.4 Cash Budgets 475 15.5 Management of Current Assets 480 15.6 Getting – and Keeping – the Cash 488 15.7 Accounts Receivable Management 490 15.8 Inventory Management 494 15.9 Technology and Working Capital Management 495 Applying Finance To. . . 497 Summary 497 Key Terms 498 Review Questions 498 Problems 499 16 Short-Term Business Financing 503 16.1 Strategies for Financing Working Capital 504 16.2 Factors Affecting Short-Term Financing 507 16.3 Providers of Short-Term Financing 512 16.4 Nonbank Short-Term Financing Sources 516 16.5 Additional Varieties of Short-Term Financing 521 16.6 Inventory Financing and Other Secured Loans 525 16.7 The Cost of Short-Term Financing 527 Applying Finance To. . . 528 Summary 528 Key Terms 529 Review Questions 530 Problems 530 17 Capital Budgeting Analysis 533 17.1 Mission, Vision, and Capital Budgeting 534 17.2 Capital Budgeting Process 537 17.3 Capital Budgeting Techniques – Net Present Value 540 17.4 Capital Budgeting Techniques – Internal Rate of Return 543 17.5 Capital Budgeting Techniques – Modified Internal Rate of Return 547 17.6 Capital Budgeting Techniques – Profitability Index 549 17.7 Capital Budgeting Techniques – Payback Period 549 17.8 Conflicts Between Discounted Cash Flow Techniques 550 17.9 Estimating Project Cash Flows 552 17.10 Keeping Managers Honest 558 17.11 Risk-Related Considerations 559 Applying Finance To. . . 561 Summary 561 Key Terms 563 Review Questions 563 Problems 564 17.12 Project Stages and Cash Flow Estimation 567 Initial Outlay 567 Cash Flows During the Project’s Operating Life 568 Salvage Value and NWC Recovery at Project Termination 568 17.13 Applications 569 Cash Flow Estimation for a Revenue Expanding Project 569 Cash Flow Estimation for a Cost-Saving Project 571 Setting a Bid Price 574 Summary 576 Review Questions 576 Problems 576 18 Capital Structure and the Cost of Capital 578 18.1 Why Choose a Capital Structure? 579 18.2 Required Rate of Return and the Cost of Capital 582 18.3 Cost of Capital 583 18.4 Weighted Average Cost of Capital 587 18.5 Planning Growth Rates 592 18.6 EBIT/eps Analysis 594 18.7 Combined Operating and Financial Leverage Effects 597 18.8 Insights from Theory and Practice 601 Applying Finance To. . . 607 Summary 607 Key Terms 608 Review Questions 609 Problems 610 Appendix A-1 Glossary G-1 Index I-1

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Book SynopsisTable of ContentsBrief Contents iii Author Biographies iv Preface v The Development Story xiii Acknowledgments xvi Dedication xvi 1 Accounting as a Tool for Management 1-1 Unit 1.1 What is Managerial Accounting? 1-2 Reality Check Checking out the new checkout 1-10 Unit 1.2 Different Strategies, Different Information 1-12 Reality Check What’s the price tag for a new strategy? 1-13 Reality Check When Just-In-Time Isn’t 1-16 Unit 1.3 Ethical Considerations in Managerial Accounting 1-18 Reality Check Blowing the whistle 1-23 Learning Objective Summary 1-24 Key Terms / Exercises / Problems / Cases / Endnotes TF1 C&C Sports, Managerial Accounting Context TF1-1 Learning Objective Summary TF1-7 Endnotes 2 Cost Behavior and Cost Estimation 2-1 Unit 2.1 Cost Behavior Patterns 2-2 Data Analytics in Action 2-5 Reality Check If it looks like a variable cost . . . 2-7 Unit 2.2 Cost Estimation 2-10 Reality Check Making the relevant range irrelevant 2-15 Unit 2.3 Contribution Margin Analysis 2-17 Reality Check The contribution margin recipe 2-19 Learning Objective Summary 2-24 Key Terms / Exercises / Problems / Cases / Data Analytics Problems / Endnotes 3 Cost–Volume–Profit Analysis and Pricing Decisions 3-1 Unit 3.1 Breakeven Analysis 3-3 Reality Check Who really uses breakeven analysis? 3-4 Unit 3.2 Cost–Volume–Profit Analysis 3-8 Data Analytics in Action 3-11 Reality Check Don’t let ghost restaurants scare you 3-13 Unit 3.3 Multiproduct CVP Analysis 3-16 Reality Check Mixing it up on a high flyer 3-17 Unit 3.4 Pricing Decisions 3-21 Reality Check Big data brings dynamic pricing strategies 3-24 Learning Objective Summary 3-26 Key Terms / Exercises / Problems / Cases / Data Analytics Problems / Endnotes 4 Product Costs and Job Order Costing 4-1 Unit 4.1 Product and Period Costs 4-2 Data Analytics in Action 4-5 Reality Check Showing cost classifications in published financial statements 4-7 Unit 4.2 Product Cost Flows 4-9 Reality Check What’s satisfying your sweet tooth going to cost? 4-14 Unit 4.3 Job Order Costing 4-17 Reality Check Will robots win the direct labor battle? 4-22 Unit 4.4 Underapplied and Overapplied Manufacturing Overhead 4-25 Reality Check Missing the Overhead Mark 4-26 Learning Objective Summary 4-30 Key Terms / Exercises / Problems / Cases / Data Analytics Problem TF2 Process Costing TF2-1 Data Analytics in Action TF2-5 Reality Check Costs in the oyster bed TF2-9 Learning Objective Summary TF2-13 Exercises / Problems / Cases / Endnotes TF3 Variable and Absorption Costing TF3-1 Reality Check Variable costing, German style TF3-6 Learning Objective Summary TF3-10 Exercises / Problems / Cases 5 Planning and Forecasting in a Manufacturing Setting 5-1 Unit 5.1 Planning and the Budgeting Process 5-3 Reality Check Starting from Zero 5-6 Unit 5.2 Performance Standards 5-9 Reality Check The diamond standard 5-9 Unit 5.3 Building the Master Budget: The Operating Budget 5-15 Reality Check is there a crystal ball for forecasting sales? 5-17 Data Analytics in Action 5-24 Unit 5.4 Building the Master Budget: The Cash Budget 5-31 Reality Check Budgeting around the world 5-35 Unit 5.5 Pro-Forma Financial Statements 5-40 Reality Check How the pros use pro-formas 5-43 Learning Objective Summary 5-46 Key Terms / Exercises / Problems / Cases / Data Analytics Problems / Endnotes 6 Performance Evaluation: Variance Analysis 6-1 Unit 6.1 Flexible Budgets: A Performance Evaluation Tool 6-3 Reality Check Who’s being flexible? 6-5 Data Analytics in Action 6-9 Unit 6.2 Variance Analysis: Direct Materials 6-14 Reality Check Going nuts over almonds 6-16 Reality Check A variance to remember 6-18 Unit 6.3 Variance Analysis: Direct Labor 6-21 Reality Check Labor efficiency strike out 6-24 Unit 6.4 Variance Analysis: Overhead 6-27 Learning Objective Summary 6-32 Key Terms / Exercises / Problems / Cases / Data Analytics Problems / Endnotes TF4 Standard Costing Systems TF4-1 Reality Check are standard costing systems headed for extinction? TF4-5 Learning Objective Summary TF4-12 Exercises / Problems / Endnotes 7 Activity-Based Costing and Activity-Based Management 7-1 Unit 7.1 Activity-Based Costing 7-3 Reality Check Making a package deal 7-6 Unit 7.2 Developing Activity-Based Product Costs 7-10 Reality Check ABC isn’t just for manufacturing 7-16 Unit 7.3 Activity-Based Management 7-20 Data Analytics in Action 7-22 Reality Check Working to add value 7-24 Learning Objective Summary 7-27 Key Terms / Exercises / Problems / Cases / Data Analytics Problems / Endnotes TF5 Customer Profitability TF5-1 Data Analytics in Action TF5-6 Reality Check All customers are not created equal TF5-7 Learning Objective Summary TF5-10 Exercises / Problems / Endnotes 8 Using Accounting Information to Make Managerial Decisions 8-1 Unit 8.1 Identifying Relevant Information 8-3 Reality Check How big is big data? 8-4 Unit 8.2 Special Order Pricing 8-9 Reality Check The dynamics of pricing 8-10 Unit 8.3 Outsourcing 8-14 Reality Check It’s time to shore up production 8-15 Unit 8.4 Allocating Constrained Resources 8-20 Data Analytics in Action 8-22 Reality Check Money doesn’t grow on trees 8-23 Unit 8.5 Keeping or Eliminating Operations 8-26 Reality Check Sometimes less is more 8-29 Learning Objective Summary 8-32 Key Terms / Exercises / Problems / Cases / Data Analytics Problems / Endnotes 9 Capital Budgeting 9-1 Unit 9.1 Capital Budgeting Decisions 9-2 Reality Check How much capital are we talking about? 9-5 Unit 9.2 Time Value of Money 9-8 Reality Check If you build it, they will stay 9-13 Unit 9.3 Discounted Cash Flow Techniques 9-15 Reality Check Don’t discount the choice of a discount rate 9-17 Data Analytics in Action 9-22 Unit 9.4 Other Capital Budgeting Techniques 9-25 Reality Check So many choices, so little money 9-28 Learning Objective Summary 9-31 Key Terms / Exercises / Problems / Cases / Data Analytics Problems / Endnotes 10 Decentralization and Performance Evaluation 10-1 Unit 10.1 Centralized versus Decentralized Organizations 10-2 Reality Check Taking center stage—or not 10-5 Unit 10.2 Segment Evaluation 10-8 Reality Check The whole isn’t always greater than the sum of its parts 10-9 Unit 10.3 Return on Investment 10-13 Data Analytics in Action 10-17 Reality Check Getting a healthy ROI 10-18 Unit 10.4 Residual Income and EVA® 10-20 Reality Check Finding value in compensation 10-24 Appendix Transfer Pricing 10-27 Reality Check The taxing transfer 10-28 Learning Objective Summary 10-33 Key Terms / Exercises / Problems / Cases / Data Analytics Problem / Endnotes 11 Performance Evaluation Revisited: A Balanced Approach 11-1 Unit 11.1 Performance Measures 11-2 Reality Check Batter up 11-5 Unit 11.2 The Balanced Scorecard 11-10 Data Analytics in Action 11-12 Reality Check Not your typical balanced scorecard 11-16 Unit 11.3 Benchmarking 11-20 Reality Check Benchmarking in health care 11-22 Appendix Measures of Meeting Delivery Expectations 11-23 Learning Objective Summary 11-28 Key Terms / Exercises / Problems / Cases / Data Analytics Problems / Endnotes 12 Financial Statement Analysis 12-1 Unit 12.1 Horizontal Analysis of Financial Statements 12-2 Reality Check How to slice an apple 12-6 Unit 12.2 Common-Size Financial Statements 12-8 Reality Check Hospitals suffer from bad debts 12-11 Unit 12.3 Ratio Analysis 12-15 Reality Check Don’t cash in too quickly 12-19 Unit 12.4 Industry Analysis 12-28 Reality Check Growing strong farms 12-29 Learning Objective Summary 12-33 Key Terms / Exercises / Problems / Cases / Endnotes 13 Statement of Cash Flows 13-1 Unit 13.1 Categorizing Cash Flows 13-2 Reality Check What’s in your wallet? 13-4 Unit 13.2 Cash Flows Provided by Operating Activities: The Indirect Method 13-8 Reality Check Running out of cash? 13-11 Unit 13.3 Cash Flows Provided by Investing and Financing Activities 13-13 Unit 13.4 Constructing and Interpreting the Statement of Cash Flows 13-19 Appendix Cash Flows Provided by Operating Activities: The Direct Method 13-24 Learning Objective Summary 13-30 Key Terms / Exercises / Problems / Cases / Endnotes Glossary G-1 Index I-1

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Book SynopsisTable of ContentsPreface v 1 The Development of Accounting Theory 1 The Early History of Accounting 2 Accounting in the United States Since 1930 5 The Role of Ethics in Accounting 19 Accounting in Crisis: The Events of the Early 2000s 19 International Accounting Standards 23 Cases 24 FASB ASC Research 26 Room for Debate 26 2 The Pursuit of the Conceptual Framework 27 The Early Theorists 27 Early Authoritative and Semiauthoritative Organizational Attempts to Develop the Conceptual Framework of Accounting 29 Statement on Accounting Theory and Theory Acceptance 35 The FASB’s Conceptual Framework Project 38 Principles-Based Versus Rules-Based Accounting Standards 54 International Convergence 58 Cases 68 FASB ASC Research 70 Room for Debate 70 3 International Accounting 71 International Business Accounting Issues 72 The Development of Accounting Systems 72 Preparation of Financial Statements for Foreign Users 74 The International Accounting Standards Committee 74 The Uses of International Accounting Standards 83 The IASC and the IOSCO 85 The IASB Annual Improvements Project 86 IASB–FASB Convergence 87 The Effects of International versus US GAAP Accounting Standards 88 Standards Overload 91 Framework for the Preparation and Presentation of Financial Statements 92 The IASB–FASB Financial Statement Presentation Project 101 Cases 103 FASB ASC Research 105 Room for Debate 106 4 Research Methodology and Theories on the Uses of Accounting Information 107 Research Methodology 107 The Outcomes of Providing Accounting Information 110 The Relationship Among Research, Education, and Practice 136 Cases 137 FASB ASC Research 139 Room for Debate 140 5 Income Concepts, Revenue Recognition, and Other Methods of Reporting 141 The Nature of Income 142 Economic Versus Accounting Income 146 Revenue Recognition 148 Matching 167 Income Recognition Constraints 169 Non-GAAP Measures of Performance 170 Sustainability Reporting 174 Earnings Quality, Earnings Management, and Fraudulent Financial Reporting 178 International Accounting Standards 184 Cases 186 FASB ASC Research 189 Room for Debate 190 6 Financial Statement I: The Income Statement 191 The Economic Consequences of Financial Reporting 191 Income Statement Elements 191 Statement Format 193 Proposed Format of the Statement of Comprehensive Income 216 The Value of Corporate Earnings 217 International Accounting Standards 222 Cases 227 FASB ASC Research 230 Room for Debate 231 7 Financial Statements II: The Balance Sheet and the Statement of Cash Flows 232 The Balance Sheet 232 Fair Value Measurements 244 Proposed Format of the Statement of Financial Position 251 Evaluating a Company’s Financial Position 251 The Statement of Cash Flows 254 Proposed Format of the Statement of Cash Flows 265 Financial Analysis of Cash-Flow Information 266 International Accounting Standards 267 Cases 274 FASB ASC Research 277 Room for Debate 278 8 Working Capital 279 Development of the Working Capital Concept 279 Current Usage 281 Components of Working Capital 281 Working Capital Management 292 International Accounting Standards 300 Cases 301 FASB ASC Research 304 Room for Debate 305 9 Long-Term Assets I: Property, Plant, and Equipment 306 Property, Plant, and Equipment 306 Financial Analysis of Property, Plant, and Equipment 311 Cost Allocation 311 Capital and Revenue Expenditures 315 Recognition and Measurement Issues 315 Impairment of Value 316 Accounting for Asset Retirement Obligations 318 International Accounting Standards 320 Cases 327 FASB ASC Research 330 Room for Debate 331 10 Long-Term Assets II : Investments and Intangibles 332 Investments in Equity Securities 332 Investments in Debt Securities 339 Impairment of Investments in Unsecuritized Debt Including Receivables and Loans 343 The Fair Value Option for Financial Assets 347 Transfers of Financial Assets 348 Intangibles 349 Financial Analysis of Investments and Intangibles 358 International Accounting Standards 358 Cases 368 FASB ASC Research 372 Room for Debate 373 11 Long-Term Liabilities 374 The Definition of Liabilities 374 Recognition and Measurement of Liabilities 375 Debt versus Equity 376 Classification of Long-Term Debt 379 Other Liability Measurement Issues 392 Troubled Debt Restructurings 399 Financial Analysis of Long-Term Debt 401 International Accounting Standards 403 Cases 409 FASB ASC Research 413 Room for Debate 414 12 Accounting for Income Taxes 415 Historical Perspective 415 The Income Tax Allocation Issue 417 Permanent and Temporary Differences 417 Conceptual Issues 421 Alternative Interperiod Tax Allocation Methods 425 Financial Statement Disclosure 435 FIN No. 48, “Accounting for Uncertainty in Income Taxes – an Interpretation of FASB Statement No. 109” 436 The Tax Cuts and Jobs Act of 2017 437 Financial Analysis of Income Taxes 440 International Accounting Standards 443 Cases 446 FASB ASC Research 449 Room for Debate 450 13 Leases 451 Accounting for Leases 452 Subsequent Developments 463 ASU 2016-02 (FASB ASC 842) 466 Financial Analysis of the Effects of Capitalizing Operating Leases 473 International Accounting Standards 475 Cases 480 FASB ASC Research 485 Room for Debate 485 14 Pensions and Other Postretirement Benefits 487 Historical Perspective 489 Accounting for the Pension Fund 500 The Employee Retirement Income Security Act 500 Other Postretirement Benefits 501 Postemployment Benefits 503 SFAS No. 132 503 SFAS No. 158 504 Financial Analysis of Pension and Other Postretirement Benefits 506 International Accounting Standards 506 Cases 509 FASB ASC Research 512 Room for Debate 513 15 Equity 514 Theories of Equity 514 Definition of Equity 519 The Distinction Between Debt and Equity 520 Reporting Equity 522 Financial Analysis of Stockholders’ Equity 534 International Accounting Standards 536 Cases 538 FASB ASC Research 542 Room for Debate 543 16 Accounting for Multiple Entities 544 Business Combinations 544 Accounting for Business Combinations 545 Consolidations 551 Theories of Consolidation 557 Noncontrolling Interest 559 Drawbacks of Consolidation 561 Segment Reporting 562 Foreign Currency Translation 566 International Accounting Standards 574 Cases 585 FASB ASC Research 588 Room for Debate 589 17 Financial Reporting Disclosure Requirements and Ethical Responsibilities 590 FASB Recognition and Measurement Criteria 590 Areas Directly Affected by Existing FASB Standards: Supplementary Information 597 Other Means of Financial Reporting 605 Other Useful Information for Investment, Credit, and Similar Decisions 609 Securities and Exchange Commission Disclosure Requirements 611 Ethical Responsibilities 619 International Accounting Standards 627 Cases 630 FASB ASC Research 634 Room for Debate 635 Index I-1

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Book SynopsisYour all-in-one guide to getting your career and finances in order for greater clarity, happiness, and peace of mind. Studies show that if you're like the majority of young professionals, you feel dissatisfied with your job, your finances, or your overall station in life. It can seem impossible to disentangle the work stuff, the money stuff, and the personal stuff, because they're all inextricably linked. But the good news is, you don't have to go at it alone: Work Your Money, Not Your Life is your all-in-one guide to achieving both your career and financial goals so that you can get where you want to be. In his debut book, Roger Ma, an award-winning financial planner and a publisher strategist at Google, offers secrets on how you can craft a meaningful career, gain financial comfort, and achieve a greater sense of purpose. And the premise behind it all is this: money affects every part of our lives. Simply by sorting out your personal finances (and it isn't as bad as it sounds!),Table of ContentsIntroduction ix Part I: Here’s The Deal 1 Chapter 1: You’re Worth More Than You Think 3 Chapter 2: Everything You’ve Been Taught About Jobs is Wrong 15 Part II: Figure Out Your Starting Point 25 Chapter 3: How’s Your Job? 27 Chapter 4: Compiling Your Financial Report Card 39 Chapter 5: How to Increase Your Financial Runway 59 Part III: Optimize Your Job 79 Chapter 6: What Does a “Good” Job Look Like for You? 81 Chapter 7: How to Tweak Your Job 97 Chapter 8: Supplement Your Job to Explore New Opportunities 107 Chapter 9: Prepare to Change Your Job 121 Chapter 10: Take Action to Change Your Job 137 Part IV: Optimize Your Finances 151 Chapter 11: Chart Your Goals and How Much They Will Cost 153 Chapter 12: What You Need to Know About Investing 165 Chapter 13: How to Construct Your Portfolio 187 Chapter 14: Protecting Your Wealth 205 Part V: How to Stay the Course and Enjoy the Journey 225 Chapter 15: Focus on What You Can Control and Tune out the Noise 227 Chapter 16: You Don’t Have to Do It Alone 241 Conclusion 251 Acknowledgments 255 Endnotes 257 Index 265 About the Authors 275

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Book SynopsisSurvive and thrive amongst the professional traders using sophisticated cryptocurrency analysis and trading techniques The purpose of this book is to provide a concise yet comprehensive background of some effective methods for analyzing markets and creating fully automated AI-optimized trading systems. The book outlines some easy-to-replicate yet highly effective quant trading techniques that can be used for analyzing asset prices and then apply them to Bitcoin prices, showing how to generate actionable insights from data that can be used to create fully automated trading signals and systems. Big data analytics can be enhanced with artificial intelligence techniques. Back testing and optimization methods are presented with a special emphasis placed on the use of distributed genetic algorithms for parameter optimization. Finally, a case study of a fully automated trend-following trading strategy that leverages artificial intelligence is presented. Bitcoin AlphaBot

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Book SynopsisThe Application of Data Analysis Essentials Certificate (14.0 CPE Credits) offers hands-on experience regarding how to analyze data and calculate fundamental aspects of your data sets. This certificate program provides the core concepts and definitions of data analytics, which explain the anatomy of data as a medium, and provides fundamental statistical analysis techniques for beginning to glean useful information from data. This certificate is Part 2 of the Data Analyst Certificates Bundle - a comprehensive five-part program that provides training and practical guidance on the topic of data analytics. First, you will learn the different types of variables that make up a data set and perform meaningful calculations on data to discover and explore relationships that yield insights: central tendency, variability, probability, and distribution. Then we will delve into recognizing these qualities in their different forms and how to utilize them in practical business situations. This program offers straightforward exercises to help you practice and immediately apply what you've learned. You will also get exposure to and practice with useful concepts such as quartiles, variance, and standard deviation. Finally, you will be introduced to one of the most powerful tools available for analyzing data: the open-source R platform. You will be guided through an actual use case for analyzing data using R and complete your learning by seeing how the statistical concepts you've just learned can be applied in a real-world example. By completing this certificate, you will have a solid grasp of core statistical techniques underpinning an analytics practice and hands-on-practice using them. Note: It is recommended that you complete the Data Analysis Fundamentals Certificate, or ensure you have equivalent knowledge and skills, before starting this certificate course. Learning Labs* This is an interactive learning program that includes bonus hands-on learning labs that will expose you to the tools needed to implement an analytics practice in a practical way and equip you to deploy those tools as needed within your organization. You will practice using various technologies for preparing, analyzing and managing datasets in the real world. *Time spent on learning labs does not award CPE and completing learning labs is not a requirement for earning the certificate. WHO WILL BENEFIT Accounting and finance professionals, especially those interested in learning and applying data analysis techniques to help their organizations make informed, data-driven business decisions. KEY TOPICS The nature and types of different variables in data sets and how to use themFundamental statistical concepts for working with dataCharacteristics of data that can be used for conducting analysisBasic calculations for analyzing and discovering useful insights from data setsHow to understand and calculate probability from a data setDifferent types of distribution and how they can be usedGuided exposure to the open-source R platform and its analytics capabilitiesA practical case study exploring how statistical analysis can be used in a common fraud-detection scenarioExamples and practice exercises throughout the program to reinforce what you learn LEARNING OBJECTIVES Determine and classify variables. Calculate meaningful statistics, including central tendency, measurement and variability, basic probability, conditional probability, advanced probabilities, discrete distributions, and continuous distributions. Analyze statistics and distributions in R case study. Analyze fraud-detection case study. Digital Badge: Your Professional Distinction Set yourself apart as a future-ready financial professional. Upon completion, you will be awarded with a certificate in the form of a digital badge. Digital badges allow you to distinguish yourself in the marketplace and show your commitment to quality. The badge can be posted to your social media profiles and linked to your resume or email signature, providing maximum visibility to your achievement. Credit Info CPE CREDITS: Online: 14.0 (CPE credit info)NASBA FIELD OF STUDY: StatisticsLEVEL: IntermediatePREREQUISITES: Recommended: Complete the Data Analysis Fundamentals Certificate or ensure you have equivalent knowledge and skills. ADVANCE PREPARATION: NoneDELIVERY METHOD: QAS Self-StudyCOURSE ACRONYM: DALP-S2 Online Access Instructions A personal pin code is enclosed in the physical packaging that may be activated online upon receipt. Once activated, you will gain immediate online access to the product for one full year. System Requirements AICPA's online CPE courses will operate in a variety of configurations, but only the configuration described below is supported by AICPA technicians. A stable and continuous internet connection is required. In order to record your completion of the online learning courses, please ensure you are connected to the internet at all times while taking the course. It is your responsibility to validate that CPE certificate(s) are available within your account after successfully completing the course and/or exam. Supported Operating Systems: Macintosh OS X 10.10 to presentWindows 7 to present Supported Browsers: Apple SafariGoogle ChromeMicrosoft Internet ExplorerMozilla Firefox Required Browser Plug-ins: Adobe FlashAdobe Acrobat Reader Technical Support: Please contact service@aicpa.org.

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Book SynopsisThe Data Analytics Modeling Certificate (14.0 CPE Credits) will expand your ability to work with structured and unstructured data to drive a successful analytics practice. To start, you will learn to define clear business outcomes for your analytics practice to ensure your efforts align with your organization's strategic direction and create value. Next, you will learn data profiling and data cleansing techniques to maintain data quality throughout the data life cycle. You'll practice ETL (extract, transform, load) techniques and work with different data models and analytics tools. Finally, you will learn how to institute sophisticated tools for managing an ongoing enterprise data practice, including tools for data warehousing, managing the data life cycle, and working with structured and unstructured data. This certificate is Part 3 of the Data Analyst Certificates Bundle a comprehensive five-part program that provides training and practical guidance on the topic of data analytics. Note: It is recommended that you complete the Application of Data Analysis Essentials Certificate, or ensure you have equivalent knowledge and skills, before starting this certificate course. Learning Labs*This is an interactive learning program that includes bonus hands-on learning labs that will expose you to the tools needed to implement an analytics practice in a practical way and equip you to deploy those tools as needed within your organization. You will practice using various technologies for preparing, analyzing and managing datasets in the real world. *Time spent on learning labs does not award CPE and completing learning labs is not a requirement for earning the certificate. WHO WILL BENEFIT Accounting and finance professionals, especially those interested in learning and applying data analysis techniques to help their organizations make informed, data-driven business decisions. KEY TOPICS Defining value and tying analytics to value-driven business casesUnderstanding the characteristics of data and how they can be leveraged to gather insights from informationIdentifying project constructs for data analyticsIdentifying different types of data with which analysts will be expected to interactProfiling data for accurate analysis initiativesUnderstanding tool capabilities for working with dataCleansing data with appropriate tools to increases analytics accuracyManaging data quality and integrityExtracting, transforming, and loading dataImplementing a data warehouseManaging the data life cycleCreating and using different types of data modelsTools for working with both structured and unstructured data LEARNING OBJECTIVES Identify opportunities, processes, and necessary data for solving analytical problems. Apply data profiling and data cleansing techniques to available data. Use data preparation and enrichment tools. Use ETL (extract, transform, load) tools. Compare data warehousing techniques. Use data warehousing and data management tools. Align the outcomes of your data analytics practice with your organization's strategic direction and create value. Digital Badge: Your Professional Distinction Set yourself apart as a future-ready financial professional. Upon completion, you will be awarded with a certificate in the form of a digital badge. Digital badges allow you to distinguish yourself in the marketplace and show your commitment to quality. The badge can be posted to your social media profiles and linked to your resume or email signature, providing maximum visibility to your achievement. Credit Info CPE CREDITS: Online: 14.0 (CPE credit info)NASBA FIELD OF STUDY: Information TechnologyLEVEL: IntermediatePREREQUISITES: Recommended: Complete the Application of Data Analysis Essentials Certificate or ensure you have equivalent knowledge and skills. ADVANCE PREPARATION: NoneDELIVERY METHOD: QAS Self-StudyCOURSE ACRONYM: DALP-S3 Online Access InstructionsA personal pin code is enclosed in the physical packaging that may be activated online upon receipt. Once activated, you will gain immediate online access to the product for one full year. System RequirementsAICPA's online CPE courses will operate in a variety of configurations, but only the configuration described below is supported by AICPA technicians. A stable and continuous internet connection is required. In order to record your completion of the online learning courses, please ensure you are connected to the internet at all times while taking the course. It is your responsibility to validate that CPE certificate(s) are available within your account after successfully completing the course and/or exam. Supported Operating Systems: Macintosh OS X 10.10 to presentWindows 7 to present Supported Browsers: Apple SafariGoogle ChromeMicrosoft Internet ExplorerMozilla Firefox Required Browser Plug-ins: Adobe FlashAdobe Acrobat Reader Technical Support: Please contact service@aicpa.org.

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Book SynopsisTable of ContentsPART 1 Chapter 1 About This Toolkit Chapter 2 Defining the Role of a Controller Introduction Governance, Risk Management and Compliance (GRC). Controller Job Responsibilities The Controller as Business Partner SECTION 1 – CORPORATE AND REPUTATIONAL RISK Section Introduction Chapter 3 The Controller and Risk Management Introduction Risk Management Process Flow Risk Management Defined Risk Management Models Risk Management Table of Controls Risk Management Risk and Controls Matrix Chapter 4 The Controller and Ethics Introduction Ethics Program Process Flow What is “Tone at the Top?” Example Code of Conduct: MCI Code of Conduct and Ethical Violations Controllers and the Code of Conduct The Reaction to Unethical Behavior A Comparison of Sarbanes Oxley Section 302 and Section 404 Sox and Whistleblower Protection Ethics Training Programs Key Considerations for an Ethics Hotline How to Manage an Ethics Hotline How Do We Know That “Tone at the Top” Is Effective? “Tone at the Top” and the “Tone in the Middle” “Tone at the Top” and the U.S. Sentencing Guidelines “Tone at the Top” and the Foreign Corrupt Practices Act (FCPA) Anti-Bribery Provisions of the FCPA Record Keeping Requirements of the FCPA Guidelines for FCPA Compliance The Dodd-Frank Act The Whistleblower Protection Act of 1989 The False Claims Act Table of Controls Table of Risks and Controls Chapter 5 The Controller and Corporate Governance Introduction Corporate Governance Process Flow Corporate Governance for Small Business Corporate Governance for Private Companies The Financial Aspects of Corporate Governance (Cadbury Committee 1992) The International Finance Corporation (IFC) and The Global Corporate Governance Forum The Organization for Economic Cooperation and Development (OECD) and Corporate Governance When Corporate Governance is Flawed The Sarbanes Oxley Act of 2002 (SOX) and Corporate Governance Table of Controls Table of Risks and Controls Chapter 6 Entity Level Controls Introduction Entity Level Controls Process Flow Benefits of Entity Level Controls Why Focus on Entity-Level Controls? Why is Committee of Sponsoring Organizations of the Treadway Commission (COSO) Framework Important to Entity-Level Controls? Implementing an Entity-Level Controls Framework Examples of Entity-Level Controls Executing an Entity-Level Controls Questionnaire Table of Controls Table of Risks and Controls SECTION 2 – STRATEGIC AND M&A RISK Section Introduction Chapter 7 Strategic Planning and M&A Introduction Strategic Plan Process Flow The Strategic Planning Process Preparing for Strategy (Step 1) Articulating the Mission, Vision, and Values (Step 2) Sample Mission Statements Vision Statements for New and Small Firms Assessing the Situation (Step 3) Developing Strategies, Goals, Objectives and Budget (Step 4) Writing the Strategic Plan (Step 5) Example Strategic Plan Table of Contents Implementing the Strategic Plan (Step 6) Evaluating the Effectiveness of the Strategic Plan (Step 7) Mergers and Acquisitions (M&A) The M&A Process Flow The M&A Due Diligence Checklist Table of Controls Table of Risks and Controls SECTION 3 – INTERNAL CONTROLS RISK Introduction to this Section Chapter 8 Internal Controls Program Introduction Internal Controls Process Flow Application of Internal Controls The Three Critical Corporate Controls About the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Monitoring Internal Controls Roles and Responsibilities The Impact of the Sarbanes Oxley Act of 2002 (SOX) Section 404 on Internal Controls Programs Internal Controls Best Practices for Privately Held Companies Leveraging Internal Control Basics to Implement a Controls Self-Assessment (CSA) Program Internal Controls and Fraud Prevention The Fraud Triangle and Example of Fraud The Fraud Diamond Table of Controls Table of Risks and Controls SECTION 4 – COMPLIANCE RISK Introduction to this Section Chapter 9 Corporate Compliance Introduction Corporate Compliance Process Flow The Chief Compliance Officer Duties of the Chief Compliance Officer The Controller’s Compliance Toolkit Table of Controls Table of Risks and Controls PART 2 SECTION 5 – PAYMENT RISK Introduction to this Section Corporate Payments Market Drivers Additional Statistics Scope of Corporate Payments Risk Table of Business Process, Sub-Process, Risk Impacts and Indicators Chapter 10 Procure to Pay (P2P) Introduction Procurement Contract Management Purchasing and Ordering Procurement Reporting, Metrics and Analytics Accounts Payable Supplier Master File Invoice Processing Payment Process Accounting Process Customer Service P-Cards T&E Chapter 11 Hire to Retire (H2R) Introduction Human Resources Payroll Chapter 12 Order to Cash (O2C) Introduction Order to Cash (O2C) Process Flow Diagram Sales Customer Master File Credit Analysis Order Fulfilment and Invoicing Accounts Receivable and Collections Cash Application and Management O2C Reporting, Analytics and Metrics PART 3 SECTION 6: FINANCIAL OPERATIONS RISK SECTION INTRODUCTION Chapter 13 THE RECORD TO REPORT (R2R) PROCESS Chapter 14 BUDGETS AND FORECASTS CAPITAL BUDGETS AND FIXED ASSETS Chapter 15 THE SUPPLY CHAIN PROCESS AND INVENTORY CONTROL Chapter 16 THE TREASURY AND CASH MANAGEMENT PROCESS Chapter 17 SHARED SERVICES AND BUSINESS PROCESS OUTSOURCING (BPO) Chapter 18 DATA VALIDATION,ANALYTICS, METRICS AND BENCHMARKING SECTION 7: IT RISK SECTION INTRODUCTION Chapter 19 INFORMATION TECHNOLOGY (IT) CONTROLS AND CYBERSECURITY SECTION 8: SECURITY AND BUSINESS CONTINIUTY RISK SECTION INTRODUCTION Chapter 20 BUSINESS CONTINUTY AND PHYSICAL SECURITY Business Continuity Physical Security SECTION 9: LEADERSHIP AND CHANGE MANAGEMENT RISK SECTION INTRODUCTION Chapter 21 LEADERSHIP AND MANAGING CHANGE Chapter 22 TRENDS, PROCESS TRANSFORMATION AND DIGTIZATION Roadmap for Process Transformation PART 4 SECTION 11 – ADDENDUM Table of Controller's Tools Key Performance Indicator (KPI) Library SECTION 10 – GLOSSARY Index

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Book SynopsisTable of Contents1 Accounting in Action 1-1 2 The Recording Process 2-1 3 Adjusting the Accounts 3-1 4 Completing the Accounting Cycle 4-1 5 Accounting for Merchandising Operations 5-1 6 Inventories 6-1 7 Accounting Information Systems 7-1 8 Fraud, Internal Control, and Cash 8-1 9 Accounting for Receivables 9-1 10 Plant Assets, Natural Resources, and Intangible Assets 10-1 11 Current Liabilities and Payroll Accounting 11-1 12 Accounting for Partnerships 12-1 13 Corporations: Organization and Capital Stock Transactions 13-1 14 Corporations: Dividends, Retained Earnings, and Income Reporting 14-1 15 Long-Term Liabilities 15-1 16 Investments 16-1 17 Statement of Cash Flows 17-1 18 Financial Analysis: The Big Picture 18-1 19 Managerial Accounting 19-1 20 Job Order Costing 20-1 21 Process Costing 21-1 22 Cost-Volume-Profit 22-1 23 Incremental Analysis 23-1 24 Budgetary Planning 24-1 25 Budgetary Control and Responsibility Accounting 25-1 26 Standard Costs and Balanced Scorecard 26-1 27 Planning for Capital Investments 27-1 Appendix A Specimen Financial Statements: Apple Inc. A-1 Appendix B Specimen Financial Statements: PepsiCo, Inc. B-1 Appendix C Specimen Financial Statements: The Coca-Cola Company C-1 Appendix D Specimen Financial Statements: Amazon.com, Inc. D-1 Appendix E Specimen Financial Statements: Walmart Inc. E-1 Appendix F Specimen Financial Statements: Louis Vuitton F-1 Appendix G Time Value of Money G-1 Appendix H Just-in- Time Processing and Activity-Based Costing H-1 Cases For Management Decision-Making Company Index I-1 Subject Index I-5

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Book SynopsisTable of Contents1 Managerial Accounting 1-1 Just Add Water . . . and Paddle: Current Designs 1-1 Managerial Accounting Basics 1-3 Comparing Managerial and Financial Accounting 1-3 Management Functions 1-4 Organizational Structure 1-5 Managerial Cost Concepts 1-7 Manufacturing Costs 1-8 Product versus Period Costs 1-9 Illustration of Cost Concepts 1-10 Manufacturing Costs in Financial Statements 1-12 Balance Sheet 1-12 Income Statement 1-13 Cost of Goods Manufactured 1-14 Cost of Goods Manufactured Schedule 1-15 Managerial Accounting Today 1-16 Service Industries 1-16 Focus on the Value Chain 1-17 Balanced Scorecard 1-19 Business Ethics 1-19 Corporate Social Responsibility 1-20 The Value of Data Analytics 1-20 Data Analytics Insight: Using Data in Its Own World 1-21 Data Analytics in Action 1-44 2 Job Order Costing 2-1 Profiting from the Silver Screen: Disney 2-1 Cost Accounting Systems 2-3 Process Cost System 2-3 Job Order Cost System 2-4 Data Analytics Insight: Providing Service Through the Cloud 2-4 Job Order Cost Flow 2-5 Accumulating Manufacturing Costs 2-5 Assigning Manufacturing Costs 2-7 Raw Materials Costs 2-8 Factory Labor Costs 2-10 Predetermined Overhead Rates 2-13 Entries for Jobs Completed and Sold 2-16 Assigning Costs to Finished Goods 2-17 Assigning Costs to Cost of Goods Sold 2-17 Summary of Job Order Cost Flows 2-18 Job Order Costing for Service Companies 2-19 Advantages and Disadvantages of Job Order Costing 2-20 Applied Manufacturing Overhead 2-22 Under- or Overapplied Manufacturing Overhead 2-22 Data Analytics in Action 2-43 3 Process Costing 3-1 The Little Guy Who Could: Jones Soda 3-1 Overview of Process Cost Systems 3-3 Uses of Process Cost Systems 3-3 Process Costing for Service Companies 3-4 Similarities and Differences Between Job Order Cost and Process Cost Systems 3-4 Process Cost Flow and Assigning Costs 3-6 Process Cost Flow 3-6 Assigning Manufacturing Costs—Journal Entries 3-7 Equivalent Units 3-9 Weighted-Average Method 3-10 Refinements on the Weighted-Average Method 3-10 The Production Cost Report 3-13 Compute the Physical Unit Flow (Step 1) 3-14 Compute the Equivalent Units of Production (Step 2) 3-15 Compute Unit Production Costs (Step 3) 3-15 Prepare a Cost Reconciliation Schedule (Step 4) 3-16 Preparing the Production Cost Report 3-17 Costing Systems—Final Comments 3-18 Appendix 3A: FIFO Method for Equivalent Units 3-21 Equivalent Units Under FIFO 3-21 Comprehensive Example 3-22 FIFO and Weighted-Average 3-26 4 Activity-Based Costing 4-1 Precor is on Your Side: Precor 4-1 Traditional vs. Activity-Based Costing 4-3 Traditional Costing Systems 4-3 Illustration of a Traditional Costing System 4-3 The Need for a New Approach 4-4 Activity-Based Costing 4-5 ABC and Manufacturers 4-7 Identify and Classify Activities and Allocate Overhead to Cost Pools (Step 1) 4-8 Identify Cost Drivers (Step 2) 4-8 Compute Activity-Based Overhead Rates (Step 3) 4-9 Assign Overhead Costs to Products (Step 4) 4-10 Comparing Unit Costs 4-10 ABC Benefits and Limitations 4-13 The Advantage of Multiple Cost Pools 4-13 The Advantage of Enhanced Cost Control 4-15 The Advantage of Better Management Decisions 4-18 Some Limitations and Knowing When to Use ABC 4-18 Data Analytics Insight: Delivering People and Packages 4-19 ABC and Service Industries 4-20 Traditional Costing Example 4-20 Activity-Based Costing Example 4-21 Appendix 4A: Just-in-Time Processing 4-24 Objective of JIT Processing 4-25 Elements of JIT Processing 4-26 Benefits of JIT Processing 4-26 5 Cost-Volume-Profit 5-1 Don’t Worry—Just Get Big: Amazon.com 5-1 Cost Behavior Analysis 5-3 Variable Costs 5-3 Fixed Costs 5-4 Relevant Range 5-5 Mixed Costs 5-7 Mixed Costs Analysis 5-8 High-Low Method 5-8 Importance of Identifying Variable and Fixed Costs 5-10 Cost-Volume-Profit Analysis 5-11 Basic Components 5-11 CVP Income Statement 5-12 Break-Even Analysis 5-16 Mathematical Equation 5-16 Contribution Margin Techniques 5-17 Graphic Presentation 5-19 Target Net Income and Margin of Safety 5-20 Target Net Income 5-20 Margin of Safety 5-21 CVP and Data Analytics 5-22 Appendix 5A: Regression Analysis 5-24 Data Analytics in Action 5-46 6 Cost-Volume-Profit Analysis: Additional Issues 6-1 Not Even a Flood Could Stop It: Whole Foods Market 6-1 Basic CVP Concepts 6-3 Basic Concepts 6-3 CVP and Changes in the Business Environment 6-5 Sales Mix and Break-Even Sales 6-7 Break-Even Sales in Units 6-8 Data Analytics Insight: Taking No Chances with Its Profits 6-10 Break-Even Sales in Dollars 6-10 Sales Mix with Limited Resources 6-13 Operating Leverage and Profitability 6-15 Effect on Contribution Margin Ratio 6-16 Effect on Break-Even Point 6-17 Effect on Margin of Safety Ratio 6-17 Operating Leverage 6-17 Appendix 6A: Absorption Costing versus Variable Costing 6-21 Example Comparing Absorption Costing with Variable Costing 6-21 Net Income Effects 6-24 Decision-Making Concerns 6-28 Potential Advantages of Variable Costing 6-30 Data Analytics in Action 6-51 7 Incremental Analysis 7-1 Keeping It Clean: Method Products 7-1 Decision-Making and Incremental Analysis 7-3 Incremental Analysis Approach 7-3 How Incremental Analysis Works 7-4 Qualitative Factors 7-5 Relationship of Incremental Analysis and Activity-Based Costing 7-5 Types of Incremental Analysis 7-6 Special Orders 7-6 Make or Buy 7-8 Opportunity Cost 7-9 Sell or Process Further 7-11 Single-Product Case 7-11 Multiple-Product Case 7-12 Repair, Retain, or Replace Equipment 7-14 Eliminate Unprofitable Segment or Product 7-16 8 Pricing 8-1 They’ve Got Your Size—and Color: Zappos.com 8-1 Target Costing 8-3 Establishing a Target Cost 8-4 Cost-Plus and Variable-Cost Pricing 8-5 Cost-Plus Pricing 8-5 Limitations of Cost-Plus Pricing 8-7 Variable-Cost Pricing 8-8 Time-and-Material Pricing 8-10 Transfer Prices 8-13 Negotiated Transfer Prices 8-14 Cost-Based Transfer Prices 8-18 Market-Based Transfer Prices 8-19 Effect of Outsourcing on Transfer Pricing 8-19 Transfers Between Divisions in Different Countries 8-20 Data Analytics Insight: Setting the Optimal Price 8-20 Appendix 8A: Absorption-Cost and Variable-Cost Pricing 8-22 Absorption-Cost Pricing 8-23 Variable-Cost Pricing 8-24 Appendix 8B: Transfers Between Divisions in Different Countries 8-26 Data Analytics in Action 8-45 9 Budgetary Planning 9-1 What’s in Your Cupcake?: Erin McKennaʼs Bakery NYC 9-1 Effective Budgeting and the Master Budget 9-3 Budgeting and Accounting 9-3 The Benefits of Budgeting 9-3 Essentials of Effective Budgeting 9-4 The Master Budget 9-7 Sales, Production, and Direct Materials Budgets 9-8 Sales Budget 9-8 Production Budget 9-10 Direct Materials Budget 9-10 Direct Labor, Manufacturing Overhead, and S&A Expense Budgets 9-14 Direct Labor Budget 9-14 Manufacturing Overhead Budget 9-15 Selling and Administrative Expense Budget 9-15 Budgeted Income Statement 9-16 Data Analytics Insight: That’s Some Tasty Data! 9-17 Cash Budget and Budgeted Balance Sheet 9-18 Cash Budget 9-18 Budgeted Balance Sheet 9-21 Budgeting in Nonmanufacturing Companies 9-23 Merchandisers 9-23 Service Companies 9-24 Not-for-Profit Organizations 9-25 Data Analytics in Action 9-48 10 Budgetary Control and Responsibility Accounting 10-1 Pumpkin Madeleines and a Movie: The Roxy Hotel Tribeca 10-1 Budgetary Control and Static Budget Reports 10-3 Budgetary Control 10-3 Static Budget Reports 10-4 Flexible Budget Reports 10-7 Why Flexible Budgets? 10-7 Developing the Flexible Budget 10-9 Flexible Budget—A Case Study 10-10 Flexible Budget Reports 10-12 Data Analytics Insight: These Forecasts Move with the Times! 10-13 Responsibility Accounting and Responsibility Centers 10-14 Controllable versus Noncontrollable Revenues and Costs 10-16 Principles of Performance Evaluation 10-16 Data Analytics Insight: Hitting the Road with Zero-Based Budgeting 10-18 Responsibility Reporting System 10-18 Types of Responsibility Centers 10-19 Investment Centers 10-24 Return on Investment (ROI) 10-24 Responsibility Report 10-25 Alternative Measures of ROI Inputs 10-26 Improving ROI 10-26 Appendix 10A: ROI versus Residual Income 10-30 Residual Income Compared to ROI 10-31 Residual Income Weakness 10-31 Data Analytics in Action 10-52 11 Standard Costs and Balanced Scorecard 11-1 80,000 Different Caffeinated Combinations: Starbucks 11-2 Overview of Standard Costs 11-3 Distinguishing Between Standards and Budgets 11-4 Setting Standard Costs 11-4 Direct Materials Variances 11-8 Analyzing and Reporting Variances 11-8 Calculating Direct Materials Variances 11-10 Direct Labor and Manufacturing Overhead Variances 11-13 Direct Labor Variances 11-13 Data Analytics Insight: Speedy Data to the Rescue! 11-16 Manufacturing Overhead Variances 11-16 Variance Reports and Balanced Scorecards 11-18 Reporting Variances 11-18 Income Statement Presentation of Variances 11-19 Balanced Scorecard 11-20 Appendix 11A: Standard Cost Accounting System 11-24 Journal Entries 11-24 Ledger Accounts 11-26 Appendix 11B: Overhead Controllable and Volume Variances 11-26 Overhead Controllable Variance 11-27 Overhead Volume Variance 11-28 Data Analytics in Action 11-47 12 Planning for Capital Investments 12-1 Floating Hotels: Holland America Line 12-2 Capital Budgeting and Cash Payback 12-3 Cash Flow Information 12-3 Illustrative Data 12-4 Cash Payback 12-4 Net Present Value Method 12-6 Equal Annual Cash Flows 12-7 Unequal Annual Cash Flows 12-8 Choosing a Discount Rate 12-9 Simplifying Assumptions 12-10 Comprehensive Example 12-10 Capital Budgeting Challenges and Refinements 12-12 Intangible Benefits 12-12 Profitability Index for Mutually Exclusive Projects 12-14 Risk Analysis 12-15 Post-Audit of Investment Projects 12-16 Internal Rate of Return 12-17 Comparing Discounted Cash Flow Methods 12-18 Annual Rate of Return 12-20 Data Analytics Insight: Increasing the Chances of Gaming Wins 12-21 Data Analytics in Action 12-37 13 Statement of Cash Flows 13-1 Got Cash?: Microsoft 13-2 Usefulness and Format of the Statement of Cash Flows 13-3 Usefulness of the Statement of Cash Flows 13-3 Classification of Cash Flows 13-3 Significant Noncash Activities 13-4 Format of the Statement of Cash Flows 13-5 Preparing the Statement of Cash Flows—Indirect Method 13-6 Indirect and Direct Methods 13-7 Indirect Method—Computer Services Company 13-7 Step 1: Operating Activities 13-9 Summary of Conversion to Net Cash Provided by Operating Activities—Indirect Method 13-12 Step 2: Investing and Financing Activities 13-13 Step 3: Net Change in Cash 13-15 Analyzing the Statement of Cash Flows 13-17 Free Cash Flow 13-17 Appendix 13A: Statement of Cash Flows—Direct Method 13-20 Step 1: Operating Activities 13-20 Step 2: Investing and Financing Activities 13-26 Step 3: Net Change in Cash 13-27 Appendix 13B: Worksheet for the Indirect Method 13-27 Preparing the Worksheet 13-28 Appendix 13C: Statement of Cash Flows—T-Account Approach 13-32 14 Financial Analysis: The Big Picture 14-1 It Pays to Be Patient: Warren Buffett 14-2 Sustainable Income and Quality of Earnings 14-3 Sustainable Income 14-3 Quality of Earnings 14-7 Horizontal Analysis and Vertical Analysis 14-9 Horizontal Analysis 14-10 Vertical Analysis 14-12 Ratio Analysis 14-15 Liquidity Ratios 14-16 Solvency Ratios 14-17 Profitability Ratios 14-17 Financial Analysis and Data Analytics 14-18 Comprehensive Example of Ratio Analysis 14-18 Appendix A Time Value of Money A-1 Interest and Future Values A-2 Nature of Interest A-2 Future Value of a Single Amount A-3 Future Value of an Annuity A-5 Present Values A-8 Present Value Variables A-8 Present Value of a Single Amount A-9 Present Value of an Annuity A-11 Time Periods and Discounting A-13 Present Value of a Long-Term Note or Bond A-13 Capital Budgeting Situations A-16 Using Financial Calculators A-18 Present Value of a Single Sum A-19 Present Value of an Annuity A-19 Future Value of a Single Sum A-20 Future Value of an Annuity A-20 Internal Rate of Return A-20 Useful Applications of the Financial Calculator A-21 Cases For Management Decision-Making (Available in Wiley’s online course.) Company Index I-1 Subject Index I-3 Rapid Review: Chapter Content

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Book SynopsisThe most hands-on and authoritative guide to conducting 401(k) plan audits In the newly revised second edition of Audits of 401(k) Plans, a team of expert authors from the renowned ???Big Four??? firm Deloitte and Touche delivers an essential and practical guide for auditors engaged in the 401(k) plan audits. Readers will learn to move effectively and efficiently through audits of these popular employee benefit plans and gather strategies and techniques compliant with the Employee Retirement Income Security Act (ERISA) and SEC rules. This latest edition provides the latest updates to FASB Accounting Standards, SEC regulations, and regulatory changes under all relevant legislation. It???s an indispensable handbook for practicing auditors who seek to responsibly discharge their duties in 401(k) audits.Table of ContentsChapter 1 1-1 Introduction and Background 1-1 Background information 1-3 Operation and administration 1-6 Accounting records 1-8 Reporting standards 1-10 Governmental regulations 1-11 Audit requirements 1-12 Reporting and disclosure requirements under ERISA 1-16 SEC Form 11-K filing requirements 1-17 ERISA limited-scope audits 1-19 Chapter 2 2-1 Planning 2-1 Pre-engagement activities 2-3 Audit planning 2-6 Communication and coordination 2-10 Understanding the plan and its environment, including its internal control 2-11 Audit documentation 2-13 Preliminary analytical review procedures 2-14 Audit risk factors 2-15 Internal control structure 2-21 Consideration of fraud 2-22 Plan’s use of third-party service organizations 2-29 Party in interest transactions 2-30 Plan’s use of voice response or internet recordkeeping system 2-32 Accounting estimates 2-33 Going concern considerations 2-34 Chapter 3 3-1 Internal Control Structure 3-1 Understanding internal control 3-4 The components of internal control 3-6 Acquiring knowledge of the controls 3-9 Assessing control risk 3-10 Plan’s use of third-party service organizations 3-11 Plan’s use of voice response and internet-based recordkeeping systems 3-16 Documentation 3-17 Communicating control deficiencies 3-18 Chapter 4 4-1 Auditing the Statement of Net Assets Available for Benefits 4-1 Accounting guidance 4-3 Listing of investments 4-4 Valuation of investments 4-5 Investment options 4-6 Audit objectives 4-8 Audit procedures 4-9 Investments in master trusts and similar vehicles 4-11 Investments in registered investment companies (mutual funds) and common or commingled trust funds 4-13 Investments with insurance companies 4-15 Direct filing entities (DFE) 4-20 Other investments 4-21 ERISA limited-scope auditing procedures 4-24 Contributions receivable 4-26 Notes receivable from participants receivable 4-27 Cash balances 4-29 Other assets 4-30 Accrued liabilities 4-31 Chapter 5 5-1 Auditing the Statement of Changes in Net Assets Available for Benefits 5-1 Investment income 5-3 ERISA limited-scope audit 5-7 Investment expenses 5-8 Contributions from employers 5-9 Individual participant accounts 5-12 Participant eligibility 5-17 Contributions from other identified sources 5-18 Withdrawals 5-19 Loans 5-20 Administrative expenses 5-22 Chapter 6 6-1 Other Auditing Considerations 6-1 Plan tax status 6-2 Testing for discrimination 6-7 Consequences of violations 6-8 Failure to pass nondiscrimination tests 6-9 Commitments and contingencies 6-10 Subsequent events 6-12 Representations from plan management 6-14 Illustrative attachment to management representation letter 6-18 Form 5500 and supplemental schedules 6-21 Information for supplemental schedules from trustee or custodian 6-28 Terminating plans 6-32 Plan mergers 6-35 Party in interest transactions 6-36 Initial audit of the 401(k) plan 6-41 Form 11-K: The Sarbanes-Oxley Act of 2002 6-44 Communication with those charged with governance 6-47 Chapter 7 7-1 The Auditor’s Report and Financial Statement Disclosures 7-1 The auditor’s report 7-4 Standard report 7-7 Additional communications: Emphasis-of-matter and other-matter paragraphs 7-10 Modified reports 7-12 Non-GAAP basis financial statements 7-14 Reports filed pursuant to the SEC Form 11-K 7-16 ERISA limited-scope reports 7-21 Financial statement disclosures 7-24 Appendix A A-1 ERISA and Related Regulations A-1 Appendix A A-3 Glossary Glossary 1 Index Index 1 Solutions Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 4 Chapter 3 Solutions 6 Chapter 4 Solutions 8 Chapter 5 Solutions 10 Chapter 6 Solutions 12 Chapter 7 Solutions 17

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Book SynopsisDue to the nature of not-for-profits, fraud may be more common than it seems. This book shows how to recognize red flags of fraud, including cyber fraud. It offers a comprehensive learning approach using real-world examples, explanations of audit standards, and informative case studies that analyze several unique frauds which occurred in the not-for-profit industry. Key topics covered are: misappropriation of benefits, pledges and contributions, cyber fraud, and grant expense allocations.Table of ContentsChapter 1 1-1 Case 1: Misappropriation of Benefits 1-1 Chapter 2 2-1 Case 2: Grant Expense Allocations 2-1 Chapter 3 3-1 Case 3: Pledges and Contributions 3-1 Chapter 4 4-1 Case 4: Overtime Fraud 4-1 Chapter 5 5-1 Case 5: Cyber Fraud 5-1 Glossary Glossary 1 Index Index 1 Solutions Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 2 Chapter 3 Solutions 4 Chapter 4 Solutions 5 Chapter 5 Solutions 7

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Book SynopsisFrauds in governments are as unique as government entities themselves. In this book, you will learn about real-world government fraud, including cyber fraud, and your responsibilities when dealing with government.Analyzing several unique frauds that occurred in the sector, this book offers a comprehensive learning approach using examples, explanations of audit standards, and informative case studies. Key topics include: misappropriation of assets, external financial reporting, cyber fraud, management override, and improper use of procurement cards.Table of ContentsChapter 1 1-1 Case 1: External Financial Reporting 1-1 Chapter 2 2-1 Case 2: Misappropriation of Assets 2-1 Chapter 3 3-1 Case 3: Management Override 3-1 Chapter 4 4-1 Case 4: Procurement Cards 4-1 Chapter 5 5-1 Case 5: Cyber Fraud 5-1 Glossary Glossary 1 Index Index 1 Solutions Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 3 Chapter 3 Solutions 4 Chapter 4 Solutions 6 Chapter 5 Solutions 8

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Book SynopsisA practice-oriented review of the latest developments related to SSARS Nos. 21-24, this title includes a wide range of issues, including: Developments in the conceptual framework New and proposed independence interpretations Consideration of materiality in a review engagement Going concern considerations Restatement of prior year financial statements Table of ContentsChapter 1 1-1 Introduction to Preparation, Compilation, and Review Engagements 1-1 Reporting on financial statements 1-2 Evolution of engagements to prepare financial statements 1-5 Hierarchy of standards and guidance 1-7 Quality control in engagements performed under SSARSs 1-10 Peer review 1-14 Summary 1-16 Preparation engagements 1-17 Chapter 2 2-1 Current Economic Environment 2-1 The U.S. business environment 2-2 Implications of the current economy 2-5 Summary 2-11 Chapter 3 3-1 Recent Statements on Standards for Accounting and Review Services Developments 3-1 SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services – 2018 3-2 SSARS Nos. 22–23, Compiling Pro Forma and Prospective Financial Information 3-14 Summary 3-20 Chapter 4 4-1 Performing an Engagement to Prepare Financial Statements 4-1 Objective and scope 4-2 Performance requirements 4-4 Documentation for engagements to prepare financial statements 4-8 Summary 4-10 Practice questions 4-11 Chapter 5 5-1 Performing Compilation Engagements 5-1 Compilation framework and objectives 5-2 Compilation performance standards 5-7 Documentation for compilation engagements 5-10 Summary 5-14 Practice questions 5-15 Chapter 6 6-1 Performing Review Engagements 6-1 Review general principles and objective 6-2 Review performance standards 6-7 Documentation for review engagements 6-15 Change in level of service 6-19 Summary 6-20 Practice questions and case studies 6-21 Chapter 7 7-1 Engagement Administration Issues 7-1 Independence 7-2 QC Section 10: A Firm’s System of Quality Control 7-9 Summary 7-15 Chapter 8 8-1 Compilation and Review Reporting Issues 8-1 Common modifications to standard compilation reports 8-2 Common modifications to standard review reports 8-4 Reporting on supplementary and required supplementary information 8-5 Emphasis-of-matter or other-matter paragraphs 8-7 Summary 8-13 Chapter 9 9-1 Special Purpose Framework Financial Statement Issues 9-1 Special purpose framework financial statements 9-2 Practice questions 9-8 Summary 9-9 Chapter 10 10-1 Current Accounting and Reporting Issues 10-1 Common deficiencies in peer reviews 10-2 Overview of FASB activities 10-9 Summary 10-21 Practice questions 10-22 Chapter 11 11-1 On the Horizon 11-1 Resources 11-2 ARSC pipeline 11-4 FASB pipeline 11-6 Summary 11-8 Glossary Glossary 1 Index Index 1 Solutions Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 3 Chapter 3 Solutions 4 Chapter 4 Solutions 8 Chapter 5 Solutions 11 Chapter 6 Solutions 17 Chapter 7 Solutions 23 Chapter 8 Solutions 29 Chapter 9 Solutions 37 Chapter 10 Solutions 42 Chapter 11 Solutions 44

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Book SynopsisThis book provides a review of the top accounting and auditing issues faced by preparers of governmental and not-for-profit financial statements and their auditors. Key areas covered include: GASB 87, Leases; revenue recognition, including grants and contracts; risk assessment; and financial reporting. Key topics include: Current GASB developments Audit issues related to GASB developments Recent GASB pronouncements and their impact on accounting and reporting Top advice from the AICPA's Technical Hotline and the GASB Technical Inquiry SystemTable of ContentsChapter 1 1-1 GASB Statement No. 87, Leases 1-1 Major areas of inquiry 1-2 Background 1-3 Applicability of GASB Statement No. 87 1-5 Terms and their application 1-6 Overview of requirements of GASB Statement No. 87 1-9 Financial reporting 1-26 Implementation challenges 1-27 Summary 1-31 Chapter 2 2-1 Revenue Recognition by Not-for-Profit Entities 2-1 Major areas of inquiry 2-2 Overview 2-3 Accounting for contributions 2-6 Agency transactions 2-11 Exchange transaction or contribution 2-16 Case study 2-22 Summary 2-23 Practice questions 2-24 Chapter 3 3-1 Risk Assessment and Related Documentation 3-1 Major areas of inquiry 3-2 Background 3-3 Risk assessment and professional standards 3-5 Risk assessment procedures 3-6 Understanding internal control 3-9 Assessing the risks of material misstatement 3-11 Responses to the risk of material misstatement and linking results of risk assessment to the audit procedures 3-13 Summary 3-21 Practice questions 3-22 Chapter 4 4-1 GASB Statement No. 83, Certain Asset Retirement Obligations 4-1 Major areas of inquiry 4-2 Background 4-3 Overview of GASB Statement No. 83 4-4 Recognition and measurement of AROs 4-6 Disclosures relating to AROs 4-11 Financial reporting 4-13 Implementation challenges 4-14 Summary 4-17 Chapter 5 5-1 Accounting for Special Events by Not-for-Profit Entities 5-1 Major areas of inquiry 5-2 Overview 5-3 Revenue recognition 5-4 Reporting costs relating to special events 5-6 Special events accounting and reporting considerations 5-8 Reporting special events in the statement of activities 5-15 Summary 5-17 Practice questions 5-18 Chapter 6 6-1 Audit Sampling 6-1 Major areas of inquiry 6-2 Overview 6-3 Uncertainty and audit sampling 6-5 Approaches to audit sampling 6-8 Evaluating the results of sampling 6-15 Summary 6-18 Practice questions 6-19 Chapter 7 7-1 The Financial Reporting Model for Not-for-Profit Entities 7-1 Major areas of inquiry 7-2 Overview 7-3 Key changes in ASU No. 2016-14 7-4 Initial implementation and subsequent application considerations 7-13 Summary 7-18 Practice questions 7-19 Chapter 8 8-1 Government Auditing Standards — Independence, Competence, and Continuing Professional Education 8-1 Major areas of inquiry 8-2 Overview 8-3 Independence 8-5 GAGAS conceptual framework approach to independence 8-7 Provision of nonaudit services to audited entities 8-16 Consideration of specific nonaudit services 8-21 Documentation 8-27 Competence and CPE 8-29 Summary 8-34 Practice questions 8-35 Appendix A A-1 ASU No. 2014-09: Revenue from Contracts with Customers (Topic 606) A-1 ASU No. 2014-09: Revenue from Contracts with Customers, as Amended A-3 Appendix B B-1 Accounting Standards Update No. 2018-08: Not-For-Profit Entities (Topic 958): Clarifying the Scope and The Accounting Guidance for Contributions Received and Contributions Made B-1 Glossary Glossary 1 Index Index 1 Solutions Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 4 Chapter 3 Solutions 7 Chapter 4 Solutions 9 Chapter 5 Solutions 10 Chapter 6 Solutions 12 Chapter 7 Solutions 16 Chapter 8 Solutions 18

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Book SynopsisTable of ContentsPart 1 Learning Objectives, Summary Overview, and Problems 1 Chapter 1 The Time Value of Money 3 Learning Outcomes 3 Summary 3 Practice Problems 4 Chapter 2 Organizing, Visualizing, and Describing Data 9 Learning Outcomes 9 Summary 9 Practice Problems 13 Chapter 3 Probability Concepts 25 Learning Outcomes 25 Summary 26 Practice Problem 28 Chapter 4 Common Probability Distributions 33 Learning Outcomes 33 Summary 34 Practice Problems 35 Chapter 5 Sampling and Estimation 43 Learning Outcomes 43 Summary 43 Practice Problems 45 Chapter 6 Hypothesis Testing 51 Learning Outcomes 51 Summary 52 Practice Problems 54 Chapter 7 Introduction to Linear Regression 63 Learning Outcomes 63 Summary 63 Practice Problems 64 Chapter 8 Multiple Regression 75 Learning Outcomes 75 Summary 76 Practice Problems 78 Chapter 9 Time-Series Analysis 103 Learning Outcomes 103 Summary 104 Practice Problems 105 Chapter 10 Machine Learning 123 Learning Outcomes 123 Summary 123 Practice Problems 125 Chapter 11 Big Data Projects 129 Learning Outcomes 129 Summary 129 Practice Problems 131 Chapter 12 Using Multifactor Models 141 Learning Outcomes 141 Summary 141 Practice Problems 143 Chapter 13 Measuring and Managing Market Risk 149 Learning Outcomes 149 Summary 149 Practice Problems 152 Chapter 14 Backtesting and Simulation 161 Learning Outcomes 161 Summary 161 Practice Problems 163 Part II Solutions 169 Chapter 1 The Time Value of Money 171 Solutions 171 Chapter 2 Organizing, Visualizing, and Describing Data 185 Solutions 185 Chapter 3 Probability Concepts 195 Solutions 195 Chapter 4 Common Probability Distributions 199 Solutions 199 Chapter 5 Sampling and Estimation 207 Solutions 207 Chapter 6 Hypothesis Testing 215 Solutions 215 Chapter 7 Introduction to Linear Regression 223 Solutions 223 Chapter 8 Multiple Regression 229 Solutions 229 Chapter 9 Time-Series Analysis 241 Solutions 241 Chapter 10 Machine Learning 249 Solutions 249 Chapter 11 Big Data Projects 251 Solutions 251 Chapter 12 Using Multifactor Models 261 Solutions 261 Chapter 13 Measuring and Managing Market Risk 267 Solutions 267 Chapter 14 Backtesting and Simulation 273 Solutions 273 About the CFA Program 279

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Book SynopsisEvaluate your understanding of corporate finance with practice for today's professional Corporate Finance: Economic Foundations and Financial Modeling Workbook, 3rd Edition offers the key component of effective learningpractice. Designed for both students and investment professionals, this companion workbook aligns with the latest Corporate Finance text chapter-by-chapter. To improve your comprehension of core concepts, this book includes brief chapter summaries before diving into challenging practice questions and their solutions, while also laying out learning objectives so you can understand the why of each exercise. Corporate Finance: Economic Foundations and Financial Modeling Workbook, 3rd Edition will help you: Synthesize essential material from the main Corporate Finance text using real-world applications. Understand the key fundamentals of the corporate finance discipline. Table of ContentsPart I Learning Outcomes, Summary, and Practice Problems 1 Chapter 1 Corporate Structures and Ownership 3 Learning Outcomes 3 Summary 3 Practice Problems 4 Chapter 2 Introduction to Corporate Governance and Other ESG Considerations 7 Learning Outcomes 7 Summary 7 Practice Problems 9 Chapter 3 Working Capital & Liquidity 11 Learning Outcomes 11 Summary 11 Practice Problems 11 Chapter 4 Capital Investments 15 Learning Outcomes 15 Summary 15 Practice Problems 16 Chapter 5 Capital Structure 21 Learning Outcomes 21 Summary 21 Practice Problems 22 Chapter 6 Measures of Leverage 27 Learning Outcomes 27 Summary 27 Practice Problems 28 Chapter 7 Cost of Capital: Foundational Topics 33 Learning Outcomes 33 Summary 33 Practice Problems 35 Chapter 8 Cost of Capital: Advanced Topics 43 Learning Outcomes 43 Practice Problems 43 Chapter 9 Analysis of Dividends and Share Repurchases 45 Learning Outcomes 45 Summary 45 Practice Problems 47 Chapter 10 Business Models & Risks 53 Learning Outcomes 53 Summary 53 Practice Problems 54 Chapter 11 The Firm and Market Structures 57 Learning Outcomes 57 Summary 57 Practice Problems 58 Chapter 12 Introduction to Industry and Company Analysis 63 Learning Outcomes 63 Summary 63 Practice Problems 67 Chapter 13 Financial Statement Modeling 71 Learning Outcomes 71 Summary 71 Practice Problems 72 Chapter 14 Corporate Restructurings 79 Learning Outcomes 79 Summary 79 Practice Problems 80 Chapter 15 Environmental, Social, and Governance (ESG) Considerations in Investment Analysis 85 Learning Outcomes 85 Summary 85 Practice Problems 86 Chapter 16 Intercorporate Investments 89 Learning Outcomes 89 Summary 89 Practice Problems 90 Part II Solutions 101 Chapter 1 Corporate Structures and Ownership 103 Solutions 103 Chapter 2 Introduction to Corporate Governance and Other ESG Considerations 105 Solutions 105 Chapter 3 Working Capital & Liquidity 107 Solutions 107 Chapter 4 Capital Investments 109 Solutions 109 Chapter 5 Capital Structure 113 Solutions 113 Chapter 6 Measures of Leverage 117 Solutions 117 Chapter 7 Cost of Capital: Foundational Topics 121 Solutions 121 Chapter 8 Cost of Capital: Advanced Topics 125 Solutions 125 Chapter 9 Analysis of Dividends and Share Repurchases 129 Solutions 129 Chapter 10 Business Models & Risks 133 Solutions 133 Chapter 11 The Firm and Market Structures 137 Solutions 137 Chapter 12 Introduction to Industry and Company Analysis 139 Solutions 139 Chapter 13 Financial Statement Modeling 143 Solutions 143 Chapter 14 Corporate Restructurings 149 Solutions 149 Chapter 15 Environmental, Social, and Governance (ESG) Considerations in Investment Analysis 153 Solutions 153 Chapter 16 Intercorporate Investments 157 Solutions 157 About the CFA Program 163

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Book SynopsisTable of ContentsPart 1: An Overview of Financial Accounting 1 1 Financial Accounting and Its Economic Context 2 2 A Closer Look at the Financial Statements 31 Part 2: Measurement, Mechanics, and Use of Financial Statements 75 3 The Measurement Fundamentals of Financial Accounting 76 4 The Mechanics of Financial Accounting 111 5 Using Financial Statement Information 173 Part 3: Assets: A Closer Look 231 6 The Current Asset Classification, Cash, and Accounts Receivable 232 7 Merchandise Inventory 271 8 Investments in Equity Securities 313 9 Long-Lived Assets 357 Part 4: Liabilities and Shareholders’ Equity: A Closer Look 401 10 Introduction to Liabilities: Economic Consequences, Current Liabilities, and Contingencies 402 11 Long-Term Liabilities: Notes, Bonds, and Leases 444 12 Shareholders’ Equity 492 13 The Complete Income Statement 542 14 The Statement of Cash Flows 578 Appendix A The Time Value of Money 633 Appendix B Predictive Data Analytics and Financial Accounting 661 Appendix C Quality of Earnings Cases: A Comprehensive Review 667 Glossary 698 Index 729

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Book SynopsisMom''s Got Money?is a mother's guidean instruction manual to help them use the skills they already possess to become extraordinarily confident managers of their money.? Alford won''t pretend mothers don''t have a lot on their plate. She already knows they''re pressed for time. The weight of their daily decisions takes a toll. Sometimes, it feels like they manage everything, whether they have a supportive spouse or not. She knows this because it''s that way in her house too. However, we all have a choice on how to handle that responsibility, and Alford thinks we can flip the script. Instead of being frustrated or feeling resentful, Alford teaches moms how to recognize their own strengths and develop true financial confidence. Once readers master Alford''s money lessons, they''ll start to truly enjoy money. Vacations are more fun when they''re already planned and paid for. Christmas shopping is a breeze when you have a fully funded holiday spending account.Table of ContentsAcknowledgments ix About the Author xi Introduction xiii Chapter 1 Shifting to a Boss Mindset 1 Chapter 2 How to Determine Your Household Net Worth 15 Chapter 3 The Family Budget Meeting 35 Chapter 4 How to Manage Your Household Cash Flow and Start Saving 57 Chapter 5 How to Increase and Maintain Your Credit Score (and Why It’s Important) 73 Chapter 6 How to Negotiate, Earn Extra Money, and Start Investing 87 Chapter 7 Protect Your Family With Emergency Funds and Insurance 105 Chapter 8 The Childcare versus Career Dilemma 115 Chapter 9 Finances in Your Relationships 127 Chapter 10 The Art and Joy of Giving 151 Epilogue: Action Steps 159 Index 165

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Book SynopsisEquips students and professionals with the fundamental skills and knowledgeneeded tosucceedin investor relationsand financial communication Investor Relations and Financial Communicationisacomprehensive, up-to-dateintroduction totheinvestor relations and financial communication profession. Written by a leading educator and professional consultant, this authoritative textbook providesthewell-roundedfoundationnecessaryfor anyonewantingtobegina career as anInvestorRelationsOfficer(IRO). Detailed yet accessible chapters describe all essential aspects of the field, includingcommunicationskills,basic financial knowledge, legal and regulatory guidelines, professional standards and practices, and more. Organized in five sections, the bookfirstidentifies anddefinesthejobs available in investor relations and financial communication,detailingtheresponsibilities,titles, salaries, and key players in theindustry.After thoroughlyexplainingthedisclosure offinancial and non-financial information, the author describesthe regulatory environment in whichprofessionalsoperateandoffersexpert insight intoissues of corporate governance, environmental sustainability, social responsibility, shareholderactivism, and crisis management.Subsequent sections highlighttheday-to-day activities of investor relations and financial communication professionalsand discuss thefuture of thefield.This invaluable textbookalso: Describestheresponsibilities of the Investor Relations Officerthroughoutinitial public offering,periodic reporting,andperformance evaluationDiscusses therole ofinvestor relations professionalsindisclosingfinancialinformation and educating the investment communityEmphasizes thevarious skills that IROs must possess in order to do their jobs successfully, such asmarketing and securities law complianceIncludes end-of-chapter review questions, activities, and lists of keyterms Investor Relations and Financial Communication: Creating Value Through Trust and Understandingisthe perfect textbook for bothprofessional development trainingprograms and undergraduate and graduate courses in investor relations, and isrequired reading for all those working in investorrelations, particularly early-career professionals.Trade Review"A precious and very much needed contribution, particularly useful for students who are interested in approaching the financial sector from a communication standpoint." - International Journal of Business Communication, Volume: 59 Issue: 4, page(s): 665-668Table of ContentsPart I Profession 1 1 Introduction to Investor Relations and Financial Communication 3 2 Investor Relations and Financial Communication Industry 24 3 Stockholders and Stakeholders 39 Part II Disclosure 61 4 Communicating Financial Information 63 5 Communicating Nonfinancial Information 81 Part III Context 93 6 Legal and Regulatory Environment of Investor Relations and Financial Communication 95 7 Corporate Governance, Environmental Sustainability, and Social Responsibility 107 8 Shareholder Activism and Crisis Management 121 Part IV Work 133 9 Main Activities and Publications in Investor Relations and Financial Communication 135 10 Going Public and Going Private 155 11 Measurement and Evaluation of Investor Relations and Financial Communication 169 Part V Transformation 179 12 Globalization of the Financial Markets and Regional Distinctions 181 13 The Future of Investor Relations and Financial Communication 189 Bibliography 200 Index 211

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Book SynopsisIt is essential all auditors performing Yellow Book audits understand the recently revised concepts and standards of generally accepted government auditing standards (GAGAS). This book provides a baseline of information for accountants to gain an understanding of the new Yellow Book (2018 revision of Government Auditing Standards). Featuring new guidance related to independence and peer review, this book will increase your knowledge of the requirements and application guidance related to: Ethics Independence Standards for financial audits Attestation engagements Performance audits Key topics covered include: Foundation and principles for the use and application of generally accepted government auditing standards (GAGAS) General requirements for complying with the Yellow Book Ethics, independence, and professional judgment Competence and continuing professional educatiTable of ContentsChapter 1 1-1 Foundation and Principles for the Use and Application of Government Auditing Standards 1-1 What is GAGAS? 1-2 Brief history of Government Auditing Standards 1-3 The 2018 Yellow Book 1-5 Acquiring the Government Auditing Standards publication 1-7 Why is GAGAS important? 1-8 Types of GAGAS users 1-11 Types of GAGAS engagements 1-12 Terms used in this course and in GAGAS 1-16 Chapter 2 2-1 General Requirements for Complying with Government Auditing Standards 2-1 Introduction 2-2 Complying with GAGAS 2-3 Relationship between GAGAS and other professional standards 2-5 Stating auditor compliance with GAGAS in the audit report 2-7 Chapter 3 3-1 Ethics, Independence, and Professional Judgment 3-1 Introduction 3-2 Ethical principles 3-3 Independence 3-6 GAGAS conceptual framework approach to independence 3-8 Providing nonaudit services to audited entities 3-19 Consideration of specific nonaudit services 3-24 Considerations regarding independence — Governments 3-30 Documentation of independence considerations 3-34 Professional judgment 3-35 Chapter 4 4-1 Competence and Continuing Professional Education 4-1 Introduction 4-2 Competence 4-3 Continuing professional education 4-7 Chapter 5 5-1 Quality Control and Peer Review 5-1 Introduction 5-2 Quality control and assurance 5-3 External peer review 5-16 External peer review — Peer review teams 5-21 Chapter 6 6-1 Standards for Financial Audits 6-1 Introduction 6-2 Additional GAGAS requirements for conducting financial audits 6-3 Practice exercise 6-10 Additional GAGAS requirements for reporting on financial audits 6-13 Case study 6-21 Chapter 7 7-1 Standards for Attestation Engagements and Reviews of Financial Statements 7-1 Introduction 7-2 Examination engagements 7-5 Attest review and agreed-upon procedures engagements 7-20 Review of financial statement engagements 7-21 Chapter 8 8-1 Fieldwork Standards for Performance Audits 8-1 Introduction 8-2 Planning 8-4 Conducting the engagement 8-10 Supervision 8-20 Evidence 8-21 Audit documentation 8-24 Chapter 9 9-1 Reporting Standards for Performance Audits 9-1 Reporting on auditors’ compliance with GAGAS 9-3 Report format 9-4 Report content 9-5 Obtaining the views of responsible officials 9-14 Report distribution 9-15 Reporting confidential or sensitive information 9-16 Discovery of insufficient evidence after report release 9-17 Glossary Glossary 1 Index Index 1 Solutions Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 1 Chapter 3 Solutions 2 Chapter 4 Solutions 6 Chapter 5 Solutions 11 Chapter 6 Solutions 12 Chapter 7 Solutions 15 Chapter 8 Solutions 16 Chapter 9 Solutions 17

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Book SynopsisTable of ContentsPart I Learning Objectives, Summary Overview, and Problems 1 Chapter 1 Overview of Equity Securities 3 Learning Outcomes 3 Summary 3 Practice Problems 5 Chapter 2 Market Efficiency 9 Learning Outcomes 9 Summary 9 Practice Problems 10 Chapter 3 Overview of Equity Portfolio Management 15 Learning Outcomes 15 Summary 15 Practice Problem 16 Chapter 4 Passive Equity Investing 19 Learning Outcomes 19 Summary 19 Practice Problems 21 Chapter 5 Analysis of Active Portfolio Management 27 Learning Outcomes 27 Summary 27 Practice Problems 29 Chapter 6 Active Equity Investing: Strategies 39 Learning Outcomes 39 Summary 39 Practice Problems 41 Chapter 7 Active Equity Investing: Portfolio Construction 47 Learning Outcomes 47 Summary 47 Practice Problems 50 Chapter 8 Technical Analysis 55 Learning Outcomes 55 Summary 55 Practice Problems 58 Part II Solutions 65 Chapter 1 Overview of Equity Securities 67 Solutions 67 Chapter 2 Market Efficiency 69 Solutions 69 Chapter 3 Overview of Equity Portfolio Management 73 Solutions 73 Chapter 4 Passive Equity Investing 77 Solutions 77 Chapter 5 Analysis of Active Portfolio Management 81 Solutions 81 Chapter 6 Active Equity Investing: Strategies 89 Solutions 89 Chapter 7 Active Equity Investing: Portfolio Construction 95 Solutions 95 Chapter 8 Technical Analysis 101 Solutions 101 About the CFA Program 107

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Book SynopsisTable of Contents1 Introduction to Financial Statements 1-1 Knowing the Numbers: Columbia Sportswear Company 1-1 1.1 Business Organization and Accounting Information Uses 1-2 1.2 The Three Types of Business Activity 1-8 1.3 The Four Financial Statements 1-11 Appendix 1A: Career Opportunities in Accounting 1-23 2 A Further Look at Financial Statements 2-1 Just Fooling Around?: The Motley Fool 2-2 2.1 The Classified Balance Sheet 2-3 2.2 Analyzing the Financial Statements Using Ratios 2-8 2.3 Financial Reporting Concepts 2-14 3 The Accounting Information System 3-1 Accidents Happen: MF Global Holdings Ltd 3-1 3.1 Using the Accounting Equation to Analyze Transactions 3-3 3.2 Accounts, Debits, and Credits 3-11 3.3 Using a Journal 3-17 3.4 The Ledger and Posting 3-20 3.5 The Trial Balance 3-30 4 Accrual Accounting Concepts 4-1 Keeping Track of Groupons: Groupon 4-1 4.1 Accrual-Basis Accounting and Adjusting Entries 4-2 4.2 Adjusting Entries for Deferrals 4-7 4.3 Adjusting Entries for Accruals 4-15 4.4 The Adjusted Trial Balance and Closing Entries 4-23 Appendix 4A: Using a Worksheet 4-34 5 Merchandising Operations and the Multiple-Step Income Statement 5-1 Buy Now, Vote Later: REI 5-1 5.1 Merchandising Operations and Inventory Systems 5-2 5.2 Recording Purchases Under a Perpetual System 5-6 5.3 Recording Sales Under a Perpetual System 5-11 5.4 Preparing the Multiple-Step Income Statement 5-16 5.5 Cost of Goods Sold Under a Periodic System 5-21 5.6 Gross Profit Rate and Profit Margin 5-23 Appendix 5A: Periodic Inventory System 5-27 Appendix 5B: Adjusting Entries for Credit Sales with Returns and Allowances 5-30 6 Reporting and Analyzing Inventory 6-1 "Where Is That Spare Bulldozer Blade?": Caterpillar 6-1 6.1 Classifying and Determining Inventory 6-2 6.2 Inventory Methods and Financial Effects 6-7 6.3 Inventory Presentation and Analysis 6-17 Appendix 6A: Inventory Cost Flow Methods in Perpetual Inventory Systems 6-24 Appendix 6B: Effects of Inventory Errors 6-27 7 Fraud, Internal Control, and Cash 7-1 Minding the Money in Madison: Barriques 7-1 7.1 Fraud and Internal Control 7-3 7.2 Cash Controls 7-12 7.3 Control Features of a Bank Account 7-17 7.4 Reporting Cash 7-25 Appendix 7A: Operation of a Petty Cash Fund 7-32 8 Reporting and Analyzing Receivables 8-1 What's Cooking?: Nike 8-1 8.1 Recognition of Accounts Receivable 8-3 8.2 Valuation and Disposition of Accounts Receivable 8-5 8.3 Notes Receivable 8-15 8.4 Receivables Presentation and Management 8-20 9 Reporting and Analyzing Long-Lived Assets 9-1 A Tale of Two Airlines: American Airlines 9-1 9.1 Plant Asset Expenditures 9-3 9.2 Depreciation Methods 9-8 9.3 Plant Asset Disposals 9-16 9.4 Intangible Assets 9-19 9.5 Statement Presentation and Analysis 9-23 Appendix 9A: Other Depreciation Methods 9-30 10 Reporting and Analyzing Liabilities 10-1 And Then There Were Two: Maxwell Car Company 10-1 10.1 Accounting for Current Liabilities 10-3 10.2 Characteristics of Bonds 10-9 10.3 Accounting for Bond Transactions 10-14 10.4 Presentation and Analysis 10-20 Appendix 10A: Straight-Line Amortization 10-26 Appendix 10B: Effective-Interest Amortization 10-29 Appendix 10C: Accounting for Long-Term Notes Payable 10-32 11 Reporting and Analyzing Stockholders' Equity 11-1 Oh Well, I Guess I'll Get Rich: Facebook 11-1 11.1 Corporate Form of Organization 11-3 11.2 Accounting for Common, Preferred, and Treasury Stock 11-12 11.3 Accounting for Dividends and Stock Splits 11-16 11.4 Presentation and Analysis 11-24 Appendix 11A: Entries for Stock Dividends 11-32 12 Statement of Cash Flows 12-1 Got Cash?: Microsoft 12-2 12.1 Usefulness and Format of the Statement of Cash Flows 12-3 12.2 Preparing the Statement of Cash Flows--Indirect Method 12-6 12.3 Analyzing the Statement of Cash Flows 12-17 Appendix 12A: Statement of Cash Flows--Direct Method 12-22 Appendix 12B: Worksheet for the Indirect Method 12-30 Appendix 12C: Statement of Cash Flows--T-Account Approach 12-35 13 Financial Analysis: The Big Picture 13-1 It Pays to Be Patient: Warren Buffett 13-2 13.1 Sustainable Income and Quality of Earnings 13-3 13.2 Horizontal Analysis and Vertical Analysis 13-9 13.3 Ratio Analysis 13-15 14 Managerial Accounting 14-1 Just Add Water ... and Paddle: Current Designs 14-1 14.1 Managerial Accounting Basics 14-3 14.2 Managerial Cost Concepts 14-7 14.3 Manufacturing Costs in Financial Statements 14-12 14.4 Managerial Accounting Today 14-16 15 Job Order Costing 15-1 Profiting from the Silver Screen: Disney 15-1 15.1 Cost Accounting Systems 15-3 5.2 Assigning Manufacturing Costs 15-8 15.3 Predetermined Overhead Rates 15-13 15.4 Entries for Jobs Completed and Sold 15-16 15.5 Applied Manufacturing Overhead 15-22 16 Process Costing 16-1 The Little Guy Who Could: Jones Soda 16-1 16.1 Overview of Process Cost Systems 16-3 16.2 Process Cost Flow and Assigning Costs 16-6 16.3 Equivalent Units 16-10 16.4 The Production Cost Report 16-13 Appendix 16A: FIFO Method for Equivalent Units 16-21 17 Activity-Based Costing 17-1 Precor Is on Your Side: Precor17-1 17.1 Traditional vs. Activity-Based Costing 17-3 17.2 ABC and Manufacturers 17-7 17.3 ABC Benefits and Limitations 17-13 17.4 ABC and Service Industries 17-20 18 Cost-Volume-Profit 18-1 Don't Worry--Just Get Big: Amazon.com 18-1 18.1 Cost Behavior Analysis 18-3 18.2 Mixed Costs Analysis 18-8 18.3 Cost-Volume-Profit Analysis 18-11 18.4 Break-Even Analysis 18-16 18.5 Target Net Income and Margin of Safety 18-20 Appendix 18A: Regression Analysis 18-24 19 Cost-Volume-Profit Analysis: Additional Issues 19-1 Not Even a Flood Could Stop It: Whole Foods Market 19-1 19.1 Basic CVP Concepts 19-3 19.2 Sales Mix and Break-Even Sales 19-7 19.3 Sales Mix with Limited Resources 19-13 19.4 Operating Leverage and Profitability 19-15 Appendix 19A: Absorption Costing versus Variable Costing 19-20 20 Incremental Analysis 20-1 Keeping It Clean: Method Products 20-1 20.1 Decision-Making and Incremental Analysis 20-3 20.2 Special Orders 20-6 20.3 Make or Buy 20-8 20.4 Sell or Process Further 20-11 20.5 Repair, Retain, or Replace Equipment 20-14 20.6 Eliminate Unprofitable Segment or Product 20-16 21 Pricing 21-1 They've Got Your Size--and Color: Zappos.com 21-1 21.1 Target Costing 21-3 21.2 Cost-Plus and Variable-Cost Pricing 21-5 21.3 Time-and-Material Pricing 21-10 21.4 Transfer Prices 21-13 Appendix 21A: Absorption-Cost and Variable-Cost Pricing 21-22 Appendix 21B: Transfers Between Divisions in Different Countries 21-26 22 Budgetary Planning 22-1 What's in Your Cupcake?: Erin McKenna's Bakery NYC 22-1 22.1 Effective Budgeting and the Master Budget 22-3 22.2 Sales, Production, and Direct Materials Budgets 22-8 22.3 Direct Labor, Manufacturing Overhead, and S&A Expense Budgets 22-14 22.4 Cash Budget and Budgeted Balance Sheet 22-18 22.5 Budgeting in Nonmanufacturing Companies 22-23 23 Budgetary Control and Responsibility Accounting 23-1 Pumpkin Madeleines and a Movie: The Roxy HotelTribeca 23-1 23.1 Budgetary Control and Static Budget Reports 23-3 23.2 Flexible Budget Reports 23-7 23.3 Responsibility Accounting and Responsibility Centers 23-14 23.4 Investment Centers 23-24 Appendix 23A: ROI versus Residual Income 23-30 24 Standard Costs and Balanced Scorecard 24-1 80,000 Different Caffeinated Combinations: Starbucks 24-2 24.1 Overview of Standard Costs 24-3 24.2 Direct Materials Variances 24-8 24.3 Direct Labor and Manufacturing Overhead Variances 24-13 24.4 Variance Reports and Balanced Scorecards 24-18 Appendix 24A: Standard Cost Accounting System 24-24 Appendix 24B: Overhead Controllable and Volume Variances 24-26 25 Planning for Capital Investments 25-1 Floating Hotels: Holland America Line 25-2 25.1 Capital Budgeting and Cash Payback 25-3 25.2 Net Present Value Method 25-6 25.3 Capital Budgeting Challenges and Refinements 25-12 25.4 Internal Rate of Return 25-17 25.5 Annual Rate of Return 25-20 APPENDIX A Specimen Financial Statements: Apple Inc. A-1 APPENDIX B Specimen Financial Statements: Columbia Sportswear Company B-1 APPENDIX C Specimen Financial Statements: Under Armour, Inc. C-1 APPENDIX D Specimen Financial Statements: Amazon.com, Inc. D-1 APPENDIX E Specimen Financial Statements: Walmart Inc. E-1 APPENDIX F Time Value of Money F-1 APPENDIX G Reporting and Analyzing Investments G-1 Available in Wiley Course Resources and Wiley Custom: *APPENDIX H Payroll Accounting H-1 H.1 Recording the Payroll H-1 H.2 Employer Payroll Taxes H-8 H.3 Internal Control for Payroll H-11 *APPENDIX I Subsidiary Ledgers and Special Journals I-1 I.1 Subsidiary Ledgers I-1 I.2 Special Journals I-4 *APPENDIX J Accounting for Partnerships J-1 J.1 Forming a Partnership J-1 J.2 Accounting for Partnership Net Income or Net Loss J-6 J.3 Accounting for Partnership Liquidation J-11 J.4 Admission and Withdrawal of Partners J-15 APPENDIX K Accounting for Sole Proprietorships K-1 K.1 Corporation versus Sole Proprietorship Equity Accounts K-1 K.2 Accounts that Change Owner's Equity K-2 K.3 Retained Earnings Statement versus Owner's Equity Statement K-4 K.4 Closing the Books for a Sole Proprietorship K-5 CHAPTER 15A Job Order Costing (nondebit-and-credit approach) CHAPTER 16A Process Costing (nondebit-and-credit-approach) Cases for Management Decision Making

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Book SynopsisTable of Contents1 Introduction to Financial Statements 1-1 Knowing the Numbers: Columbia Sportswear Company 1-1 1.1 Business Organization and Accounting Information Uses 1-2 Forms of Business Organization 1-3 Users and Uses of Financial Information 1-4 Data Analytics 1-6 Ethics in Financial Reporting 1-7 1.2 The Three Types of Business Activity 1-8 Financing Activities 1-9 Investing Activities 1-9 Operating Activities 1-10 1.3 The Four Financial Statements 1-11 Income Statement 1-12 Retained Earnings Statement 1-13 Balance Sheet 1-14 Statement of Cash Flows 1-16 ESG Reporting: Beyond the Four Financial Statements 1-17 Interrelationships of Statements 1-17 Elements of an Annual Report 1-20 Appendix 1A: Career Opportunities in Accounting 1-23 “Show Me the Money” 1-24 2 A Further Look at the Balance Sheet 2-1 Just Fooling Around?: The Motley Fool 2-2 2.1 The Classified Balance Sheet 2-2 Current Assets 2-4 Long-Term Investments 2-5 Property, Plant, and Equipment 2-5 Intangible Assets 2-5 Current Liabilities 2-7 Long-Term Liabilities 2-7 Stockholders’ Equity 2-7 2.2 Analyzing the Balance Sheet Using Ratios 2-8 Ratio Analysis 2-8 Using a Classified Balance Sheet 2-9 3 The Accounting Information System 3-1 Accidents Happen: MF Global Holdings Ltd 3-1 3.1 Financial Reporting Concepts 3-2 The Standard-Setting Environment 3-2 Qualities of Useful Information 3-4 Assumptions in Financial Reporting 3-5 Principles in Financial Reporting 3-6 Cost Constraint 3-6 3.2 Using the Accounting Equation to Analyze Transactions 3-8 Accounting Transactions 3-8 Analyzing Transactions 3-9 Summary of Transactions 3-16 Preparing Financial Statements 3-16 4 Accrual Accounting Concepts 4-1 Keeping Track of Groupons: Groupon 4-1 4.1 Accrual-Basis Accounting and Adjustments 4-2 The Revenue Recognition Principle 4-3 The Expense Recognition Principle 4-3 Accrual versus Cash Basis of Accounting 4-5 The Need for Adjustments 4-6 Types of Adjustments 4-6 4.2 Adjustments for Deferrals 4-8 Prepaid Expenses 4-8 Unearned Revenues 4-12 4.3 Adjustments for Accruals 4-15 Accrued Revenues 4-15 Accrued Expenses 4-16 Summary of Basic Relationships 4-19 4.4 Preparing Financial Statements 4-21 Preparing Financial Statements from the Adjusted Tabular Summary 4-21 Quality of Earnings 4-21 5 Fraud, Internal Control, and Cash 5-1 Minding the Money in Madison: Barriques 5-1 5.1 Fraud and Internal Control 5-3 Fraud 5-3 The Sarbanes-Oxley Act 5-3 Internal Control 5-4 Principles of Internal Control Activities 5-5 Data Analytics and Internal Controls 5-10 Limitations of Internal Control 5-11 5.2 Cash Controls 5-12 Cash Receipts Controls 5-12 Cash Disbursements Controls 5-14 Petty Cash Fund 5-16 5.3 Control Features of a Bank Account 5-17 Electronic Banking 5-17 Bank Statements 5-18 Reconciling the Bank Account 5-20 5.4 Reporting Cash 5-26 Cash Equivalents 5-26 Restricted Cash 5-26 Managing and Monitoring Cash 5-27 Cash Budgeting 5-29 Data Analytics in Action 5-51 6 Merchandising Operations and the Multiple-Step Income Statement 6-1 Buy Now, Vote Later: REI 6-1 6.1 Merchandising Operations and Inventory Purchases 6-2 Flow of Costs 6-3 Recording Purchases Under a Perpetual Inventory System 6-4 Freight Costs 6-5 Purchase Returns and Allowances 6-7 Purchase Discounts 6-7 Summary of Purchasing Transactions 6-8 6.2 Recording Sales Under a Perpetual Inventory System 6-9 Recording Sales 6-10 Sales Returns and Allowances 6-10 Sales Discounts 6-11 Data Analytics and Credit Sales 6-11 6.3 Multiple-Step Income Statement 6-13 Format of the Multiple-Step Income Statement 6-13 Components of the Multiple-Step Income Statement 6-13 6.4 Gross Profit Rate and Profit Margin 6-17 Gross Profit Rate 6-17 Profit Margin 6-18 Data Analytics in Action 6-33 7 Reporting and Analyzing Inventory and Receivables 7-1 “Where Is That Spare Bulldozer Blade?”: Caterpillar 7-1 7.1 Classifying and Determining Inventory 7-3 Classifying Inventory 7-3 Determining Inventory Quantities 7-3 7.2 Inventory Methods and Financial Effects 7-6 Specific Identification 7-7 Cost Flow Assumptions 7-7 Financial Statement and Tax Effects of Cost Flow Methods 7-13 7.3 Reporting Receivables 7-15 Types of Receivables 7-16 Recognizing Accounts Receivable 7-16 Valuing Accounts Receivable 7-16 Data Analytics and Receivables Management 7-21 7.4 Inventory Presentation and Analysis 7-23 Presentation 7-23 Analysis 7-23 Data Analytics in Action 7-46 8 Reporting and Analyzing Long-Lived Assets 8-1 A Tale of Two Airlines: American Airlines 8-1 8.1 Plant Asset Expenditures 8-3 Determining the Cost of Plant Assets 8-3 Expenditures During Useful Life 8-6 8.2 Depreciation Methods 8-8 Factors in Computing Depreciation 8-8 Depreciation Methods 8-9 Revising Periodic Depreciation 8-14 Impairments 8-15 8.3 Plant Asset Disposals 8-16 Sale of Plant Assets 8-16 Retirement of Plant Assets 8-18 8.4 Intangible Assets 8-18 Accounting for Intangible Assets 8-19 Types of Intangible Assets 8-20 Research and Development Costs 8-22 8.5 Statement Presentation and Analysis 8-23 Presentation 8-23 Analysis 8-25 Data Analytics in Action 8-45 9 Reporting and Analyzing Liabilities 9-1 And Then There Were Two: Maxwell Car Company 9-1 9.1 Accounting for Current Liabilities 9-3 What Is a Current Liability? 9-3 Notes Payable 9-3 Sales Taxes Payable 9-4 Unearned Revenues 9-5 Current Maturities of Long-Term Debt 9-6 Payroll and Payroll Taxes Payable 9-6 9.2 Characteristics of Bonds 9-9 Types of Bonds 9-9 Issuing Procedures 9-10 Bond Trading 9-10 Determining the Market Price of a Bond 9-11 9.3 Accounting for Bond Transactions 9-14 Issuing Bonds at Face Value 9-14 Discount or Premium on Bonds 9-15 Issuing Bonds at a Discount 9-16 Issuing Bonds at a Premium 9-17 Redeeming Bonds at Maturity 9-19 9.4 Accounting for Long-Term Notes Payable 9-20 9.5 Presentation and Analysis 9-21 Presentation 9-21 Analysis 9-22 10 Reporting and Analyzing Stockholders’ Equity 10-1 Oh Well, I Guess I’ll Get Rich: Meta 10-1 10.1 Corporate Form of Organization 10-3 Characteristics of a Corporation 10-3 Forming a Corporation 10-6 Stockholder Rights 10-7 Stock Issue Considerations 10-8 Corporate Capital 10-10 10.2 Accounting for Common, Preferred, and Treasury Stock 10-11 Accounting for Common Stock 10-11 Accounting for Preferred Stock 10-13 Accounting for Treasury Stock 10-14 10.3 Accounting for Cash Dividends, Stock Dividends, and Stock Splits 10-16 Cash Dividends 10-17 Dividend Preferences 10-18 Stock Dividends 10-20 Stock Splits 10-21 10.4 Presentation and Analysis of Stockholders’ Equity 10-24 Balance Sheet Presentation of Stockholders’ Equity 10-24 Analysis of Stockholders’ Equity 10-24 Debt versus Equity Decision 10-27 Data Analytics in Action 10-47 11 Statement of Cash Flows 11-1 Got Cash?: Microsoft 11-1 11.1 Usefulness and Format of the Statement of Cash Flows 11-3 Usefulness of the Statement of Cash Flows 11-3 Classification of Cash Flows 11-3 Significant Noncash Activities 11-4 Format of the Statement of Cash Flows 11-5 11.2 Preparing the Statement of Cash Flows—Indirect Method 11-6 Indirect and Direct Methods 11-7 Indirect Method—Computer Services Company 11-7 Step 1: Operating Activities 11-9 Summary of Conversion to Net Cash Provided by Operating Activities—Indirect Method 11-13 Step 2: Investing and Financing Activities 11-14 Step 3: Net Change in Cash 11-16 11.3 Analyzing the Statement of Cash Flows 11-18 The Corporate Life Cycle 11-18 Free Cash Flow 11-20 Data Analytics in Action 11-42 12 Financial Analysis: The Big Picture 12-1 It Pays to Be Patient: Warren Buffett 12-2 12.1 Sustainable Income and Quality of Earnings 12-3 Sustainable Income 12-3 Quality of Earnings 12-7 12.2 Horizontal Analysis and Vertical Analysis 12-9 Horizontal Analysis 12-10 Vertical Analysis 12-12 12.3 Ratio Analysis 12-15 Liquidity Ratios 12-16 Solvency Ratios 12-17 Profitability Ratios 12-17 Financial Analysis and Data Analytics 12-18 Comprehensive Example of Ratio Analysis 12-18 Appendix A Specimen Financial Statements: Apple Inc. A- 1 Appendix B Specimen Financial Statements: Columbia Sportswear Company B- 1 Appendix C Specimen Financial Statements: Under Armour, Inc. C- 1 Appendix D Double-Entry Accounting System D- 1 D.1 Accounts, Debits, and Credits D- 2 Debits and Credits D- 2 Debit and Credit Procedures D- 3 Summary of Debit/Credit Rules D- 5 D.2 Using a Journal and Ledger D- 6 The Recording Process D- 6 The Journal D- 6 The Ledger D- 7 Chart of Accounts D- 7 Posting D- 7 The Recording Process Illustrated D- 7 D.3 The Trial Balance D- 10 D.4 Adjusting Entries D- 11 The Need for Adjusting Entries D- 11 The Adjusting Process Illustrated D- 12 Preparing Financial Statements D- 13 Appendix E Time Value of Money E- 1 E.1 Interest and Future Values E- 2 Nature of Interest E- 2 Future Value of a Single Amount E- 3 Future Value of an Annuity E- 5 E.2 Present Values E- 8 Present Value Variables E- 8 Present Value of a Single Amount E- 9 Present Value of an Annuity E- 11 Time Periods and Discounting E- 13 Present Value of a Long-Term Note or Bond E- 13 E.3 Capital Budgeting Situations E- 16 E.4 Using Technological Tools E- 18 Present Value of a Single Sum E- 19 Present Value of an Annuity E- 20 Future Value of a Single Sum E- 21 Future Value of an Annuity E- 22 Internal Rate of Return E- 22 Useful Applications E- 23 Appendix F Reporting and Analyzing Investments F- 1 F.1 Accounting for Debt Investments F- 2 Why Corporations Invest F- 2 Accounting for Debt Investments F- 2 F.2 Accounting for Stock Investments F- 4 Holdings of Less Than 20% F- 5 Holdings Between 20% and 50% F- 6 Holdings of More Than 50% F- 7 F.3 Reporting Investments in Financial Statements F- 9 Debt Securities F- 9 Equity Securities F- 13 Balance Sheet Presentation F- 14 Presentation of Realized and Unrealized Gain or Loss F- 15 Company Index / Subject Index I- 1 Rapid Review

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Book SynopsisHands-on practice with derivatives and derivative markets based on real-world scenarios Derivatives Workbookprovides the key component of effective learningpractice. Designed for both students and investment professionals, this companion workbook conveniently aligns with the Derivatives text chapter-by-chapter, offers brief chapter summaries to refresh your memory on key points before you begin working, and explicitly lays out the learning objectives so you understand the why of each problem. This workbook helps you: Synthesize essential material from the Derivatives text using real-world applicationsUnderstand the different types of derivatives and their characteristicsDelve into the various markets and their associated contractsExamine the role of derivatives in portfolio managementLearn why derivatives are increasingly fundamental to risk management CFA Institute is the world's premier association for investment professionals, and the governing body for CFA Program, CIPM Program, CFA Institute ESG Investing Certificate, and Investment Foundations Program. Those seeking a deeper understanding of the markets, mechanisms, and use of derivatives will value the level of expertise CFA Institute brings to the discussion as well as the extra practice delivered in Derivatives Workbook based on real scenarios investors face every day.Table of ContentsPART I Learning Objectives, Summary Overview, and Problems Chapter 1 Derivative Markets and Instruments 3 Learning Outcomes 3 Summary Overview 3 Problems 5 Chapter 2 Basics of Derivative Pricing and Valuation 11 Learning Outcomes 11 Summary Overview 12 Problems 13 Chapter 3 Pricing and Valuation of Forward Commitments 19 Learning Outcomes 19 Summary Overview 19 Problems 22 Chapter 4 Valuation of Contingent Claims 31 Learning Outcomes 31 Summary Overview 32 Problems 34 Chapter 5 Credit Default Swaps 41 Learning Outcomes 41 Summary Overview 41 Problems 42 Chapter 6 Introduction to Commodities and Commodity Derivatives 47 Learning Outcomes 47 Summary Overview 47 Problems 49 Chapter 7 Currency Management: An Introduction 55 Learning Outcomes 55 Summary Overview 55 Problems 58 Chapter 8 Options Strategies 69 Learning Outcomes 69 Summary Overview 70 Problems 71 Chapter 9 Swaps, Forwards, and Futures Strategies 79 Learning Outcomes 79 Summary Overview 79 Problems 80 Chapter 10 Introduction to Risk Management 89 Learning Outcomes 89 Summary Overview 89 Problems 91 Chapter 11 Measuring and Managing Market Risk 93 Learning Outcomes 93 Summary Overview 94 Problems 96 Chapter 12 Risk Management for Individuals 105 Learning Outcomes 105 Summary Overview 106 Problems 107 Chapter 13 Case Study in Risk Management: Private Wealth 115 Learning Outcomes 115 Summary Overview 115 Problems 116 Chapter 14 Integrated Cases in Risk Management: Institutional 119 Learning Outcomes 119 PART II SOLUTIONS Chapter 1 Derivative Markets and Instruments 123 Solutions 123 Chapter 2 Basics of Derivative Pricing and Valuation 133 Solutions 133 Chapter 3 Pricing and Valuation of Forward Commitments 139 Solutions 139 Chapter 4 Valuation of Contingent Claims 149 Solutions 149 Chapter 5 Credit Default Swaps 153 Solutions 153 Chapter 6 Introduction to Commodities and Commodity Derivatives 157 Solutions 157 Chapter 7 Currency Management: An Introduction 161 Solutions 161 Chapter 8 Options Strategies 175 Solutions 175 Chapter 9 Swaps, Forwards, and Futures Strategies 181 Solutions 181 Chapter 10 Introduction to Risk Management 189 Solutions 189 Chapter 11 Measuring and Managing Market Risk 191 Solutions 191 Chapter 12 Risk Management for Individuals 197 Solutions 197 Chapter 13 Case Study in Risk Management: Private Wealth 203 Solutions 203

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Book SynopsisCase Studies in Finance links managerial decisions to capital markets and the expectations of investors. At the core of almost all of the cases is a valuation task that requires students to look to financial markets for guidance in resolving the case problem. The focus on value helps managers understand the impact of the firm on the world around it. These cases also invite students to apply modern information technology to the analysis of managerial decisions.The cases may be taught in many different combinations. The eight-part sequence indicated by the table of contents relates to course designs used at the authors' schools. Each part of the casebook suggests a concept module, with a particular orientation.Table of ContentsSetting Some Themes1. Warren E. Buffett, 20152. The Battle for Value, 2016: FedEx Corp. vs. United Parcel Service, Inc.3. Larry Puglia and the T. Rowe Price Blue Chip Growth Fund4. Genzyme and Relational Investors: Science and Business Collide? Financial Analysis and Forecasting5. Business Performance Evaluation: Approaches for Thoughtful Forecasting6. The Financial Detective, 20167. Whole Foods Market: The Deutsche Bank Report 8. Horniman Horticulture9. Guna Fibres, Ltd. Estimating the Cost of Capital10. “Best Practices” in Estimating the Cost of Capital: An Update11. Roche Holdings AG: Funding the Genentech Acquisition 12. H.J. Heinz: Estimating the Cost of Capital in Uncertain Times 13. Royal Mail plc: Cost of Capital 14. Chestnut Foods 15. Target Corporation16. The Investment Detective17. Centennial Pharmaceutical Corp 18. Worldwide Paper Company 19. Fonderia del Piemonte S.p.A. 20. Victoria Chemicals plc (A): The Merseyside Project 21. Victoria Chemicals plc (B): Merseyside and Rotterdam Projects 22. The Procter and Gamble Company: Investment in Crest Whitestrips Advanced Seal 23. Jacobs Division 2010 24. UVa Hospital System: The Long-term Acute Care Hospital Project 25. Star River Electronics Ltd. Capital project analysis and forecasting ••• Management of the Firm's Equity: Dividends and Repurchases26. Rockboro Machine Tools Corporation Dividend payout decision ••• 27. EMI Group PLC Dividend policy ••• 28. Autozone, Inc. Dividend and stock buyback decisions •••Management of the Corporate Capital Structure29. An Introduction to Debt Policy and Value 30. M&M Pizza31. Structuring Corporate Financial Policy: Diagnosis of Problems and Evaluation of Strategies 32. California Pizza Kitchen 33. Dominion Resources: Cove Point 34. Nokia OYJ: Financing the WP Strategic Plan 35. Kelly Solar 36. JC Penney Company 37. Horizon Lines, Inc. Financial distress/restructuring/bankruptcy Analysis of Financing Tactics: Leases, Options, and Foreign Currency38. Baker Adhesives 39. Vale SA40. J&L Railroad41. WNG Capital, LLC 42. MoGen, Inc. Valuing the Enterprise: Acquisitions and Buyouts43. Methods of Valuation: Mergers and Acquisitions44. Medfield Pharmaceuticals45. American Greetings46. Ferrari: The 2015 Initial Public Offering 47. Rosetta Stone: Pricing the 2009 IPO 48. Sun Microsystems 49. Carter International 50. DuPont Corporation: Sale of Performance Coatings 51. OutReach Networks: First Venture Round 52. Sanofi-Aventis’s Tender Offer for Genzyme 53. Delphi Corporation 54. Flinder Valves and Controls Inc.

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Book SynopsisBehavioral Corporate Finance provides instructors with a comprehensive pedagogical approach for teaching students how behavioral concepts apply to corporate finance. The primary goal  is to identify the key psychological obstacles to value maximizing behavior, along with steps that managers can take to mitigate the effects of these obstacles.Table of Contents1 Behavioral Foundations2 Introduction to Behavioral Analysis3 Valuation4 Capital Budgeting5 Inefficient Markets and Corporate Decisions6 Perceptions about Risk and Return7 Capital Structure8 Dividend Policy9 Agency Conflicts and Corporate Governance10 Mergers and Acquisitions11 Financial Management and Group Process

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Book SynopsisThe integrated solutions for Ross's Essentials of Corporate Finance have been specifically designed to help improve student performance, meaning that students are prepared for and engaged in class, and they can successfully solve problems and analyse the results. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. In addition, resources within Connect help students solve financial problems and apply what they've learned. Ross Essentials' succinct coverage, managerial focus, and strong end-of-chapter content combine with a complete digital solution to help your students achieve higher outcomes in the course.Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.

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Book SynopsisThis is a book of hypothetical cases written to give students real examples of key finance concepts. Each case is 3-4 pages in length, and concludes with questions and problems that walk students through calculations and critical analysis of the case to help them make business decisions.Table of Contents1 Financial Statements, Cash Flows and Taxes: Ultra Cable Corporation2 Analyzing Financial Statements: Are We Getting Too Big For Our Boots?3 DuPont Analysis: Playing the Numbers Game!4 Financial Forecasting: Growing Pains5 Financial Analysis and Forecasting: There’s More to Us Than Meets the Eye!6 Time Value of Money: Lottery Winnings – Looks Can Be Deceptive!7 Retirement Planning: It’s Better Late than Never!8 Loan Amortization: Paying Off That Dream House9 Bond Analysis and Valuation: Corporate Bonds–They Are More Complex than You Think10 Valuation of Common Stock: What Are We Really Worth?11 Estimating Cash Flow - New Project Analysis: The Lawn Robot: Is It Really Worth It?12 Capital Budgeting: Too Hot To Handle!13 Real Options and Capital Budgeting: I Wish I Had a Crystal Ball14 Divisional Costs of Capital: We Are Not All Alike!15 Marginal Cost of Capital and Capital Budgeting: Where Do We Draw The Line?16 Economic Value Added (EVA): EVA – Does It Really Work?17 Evaluating Project Risk: It’s Better to Be Safe Than Sorry!18 Debt versus Equity Financing: Look Before You Leverage!19 Bankruptcy and Reorganization: Is It Worth More Dead or Alive?20 Dividend Policy: Is It Much Ado About Nothing?21 Cash Budgeting: The Elusive Cash Balance22 International Capital Budgeting: Will It Be Worthwhile to Venture?23 Hedging with Derivatives: When in Doubt, Hedge!24 Valuing Corporate Acquisitions: Made for Each Other25 Lease Versus Buy Analysis: Why Buy It When You Can Lease It?

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Book SynopsisThe emphasis of Managerial Accounting, 11th edition is on teaching students to use accounting information to best manage an organization. In a practice Hilton pioneered in the first edition, each chapter is written around a realistic business or focus company that guides the reader through the topics of that chapter. Known for balanced examples of Service, Retail, Nonprofit and Manufacturing companies, Hilton/Platt offers a clear, engaging writing style that has been praised by instructors and students alike. As in previous editions, there is significant coverage of contemporary topics such as activity-based costing, target costing, the value chain, customer profitability analysis, and throughput costing while also including traditional topics such as job-order costing, budgeting and performance evaluation.

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Book SynopsisManagerial Accounting for Managers, 3rd edition by Noreen/Brewer/Garrison is based on the market-leading managerial accounting solution, Managerial Accounting, by Garrison, Noreen and Brewer. The Noreen solution presents integrated and proven solutions designed to help attain course goals of student readiness, comprehension of content, and application of key concepts in the managerial accounting course, while addressing the needs of instructors who do not wish to teach the financial accounting-oriented content that is included in the Garrison solution. Of the three programs in the Garrison franchise (the Brewer solution, the Garrison solution, and the Noreen solution), the Noreen solution is the most pure management accounting content. The other two programs contain greater coverage of financial accounting topics.Managerial Accounting for Managers 3e is geared towards professors who love Garrisonâs

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Book SynopsisInternational Financial Management provides students with a foundation for analysis that will serve them well in their careers ahead. The decision-making process is presented through the text with the goal of teaching students how to make informed managerial decisions in an evolving global financial landscape.  And new to this edition, McGraw-Hillâs Connect empowers students by continually adapting to deliver precisely what they need, when they need it, and how they need it, so your class time is more engaging and effective.

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Book SynopsisFundamentals of Advanced Accounting, 7th edition, is ideal for those schools wanting to cover 12 chapters in their advanced accounting course. This concise text allows students to think critically about accounting, just as they will do preparing for the CPA exam. The text continues to show the development of financial reporting as a product of intense and considered debate that continues today and will into the future.

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Book SynopsisUsing a hands-on approach, Computer Accounting with QuickBooks 2019 integrates understanding accounting with mastery of QuickBooks software. The text provides proven instructional techniques throughout the new edition to make students mastery of QuickBooks as effortless as possible. Access to QuickBooks Accountant 2019 software is included with every text.Connect is available for Computer Accounting with QuickBooks 2019. Connect saves you time by making grading quick and easy. The in-chapter activities, end of chapter exercises and projects found in the text are auto-graded after students enter the answers from their work in QuickBooks into Connect.  Doing so allows instructors and students to benefit from Insight, the analytic tools within Connect that provides at-a-glance information regarding class performance and assignment effectiveness. 

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Book SynopsisAs the long-time #1 best-seller, Garrison has helped guide close to 3 million students through managerial accounting since it was first published. It identifies the three functions managers must perform within their organizations - plan operations, control activities, and make decisions - and explains what accounting information is necessary for these functions, how to collect it, and how to interpret it. Garrison's Managerial Accounting is known for its relevance, accuracy, and clarity. It is also unique in that the authors write the most important supplements that accompany the book: solutions manual, test bank, instructor's manual, and study guide making them both of high quality and extremely consistent with the textbook.

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Book SynopsisAccounting Information Systems 2e covers the four roles for accountants with respect to information technology: users of technology and information systems, managers of users of technology, designers of information systems, and evaluators of information systems. Accountants must understand the organization and how organizational processes generate information important to management.The focus of Accounting Information Systems, 2/e is on the accountant's role as business analyst in solving business problems by database modeling, database design, and business process modeling. Unlike other texts that provide a broad survey of AIS related topics, this text concentrates on developing practical, real-world business analysis skills. Whether you are developing a new course for AIS or incorporating AIS materials into your existing curriculum, Accounting Information Systems, 2/e will help prepare your students for their future careers.

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Book SynopsisComputer Accounting with QuickBooks Online, 3e allows you to teach the latest concepts of QuickBooks in an online environment. Use QuickBooks Online on any device - PC, Mac, tablet, smartphone - no software download or local install necessary! QBO provides a familiar internet-designed user interface for students to grasp accounting concepts while honing cloud computing skills. Students learn about the connection between the software, the general ledger system, and the accounting cycle. CONNECT is now available for Computer Accounting with QuickBooks Online, saving the instructor time by providing auto-graded exercises for students, assessing accuracy of their work in the Quickbooks software. 

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Book SynopsisA modernapproach to payroll accounting, Landin and Schirmer's Payroll 2021 provides a"practitioners view" of this highly specialized area of accounting.Incorporating examples of real-world companies, Payroll 2021 highlights therelevance of the course in its coverage of issues that students will face intheir careers, such as labor planning and labor costs. Whether you are teachingface-to-face, hybrid, or online, Payroll 2021 is flexible enough to be used incourses as short as three weeks and as long as fifteen weeks. Connect providesmultiple opportunities for students to build their skills through practice,including exercise sets at the end of each chapter, auto-graded payroll and taxforms, and guided example hint videos that offer students an animatedwalk-through with narration of select exercises similar to those assigned toreinforce material. The Continuing Payroll Project in each chapter and aComprehensive Project that encompasses an entire quarter of payroll accountingtopiTable of ContentsCh. 1 Payroll Practices and System FundamentalsCh. 2 Payroll System ProceduresCh. 3 Gross Pay ComputationCh. 4 Fringe Benefits and Voluntary DeductionsCh. 5 Employee Net Pay and Pay MethodsCh. 6 Employer Payroll Taxes and Labor PlanningCh. 7 The Payroll Register, Employees' Earnings Records, and Accounting System EntriesAPPENDIXESA Comprehensive Payroll Project: Wayland Custom WoodworkingB Special Classes of Federal Tax WithholdingC Federal Income Tax TablesD State Income Tax InformationE State Revenue Department InformationF Payroll Certification InformationGLOSSARYINDEX

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