Financial accounting Books

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Book SynopsisThe credit card industry today is a multi-trillion dollar business that employs hundreds of thousands of people across the globe and impacts literally billions of people every day. Yet there is no comprehensive book or reference material available in the marketplace that provides fact-based perspectives on how to develop and manage a successful card business - despite the significant demand from all those involved in the industry. Developing and Managing a Successful Payment Cards Business offers information, analysis, observations, perspectives and advice on developing and managing a card business. There is comprehensive coverage of all areas including card business strategy, product development, customer acquisition and retention strategies, and product marketing techniques. The book also reviews underlying infrastructure components relating to operations and systems including risk management and transaction processing and suggests improvement techniques. There is detailed discussTrade Review'The payment cards business has grown enormously in the last two decades, and today must represent one of the largest and most profitable verticals in global financial services industry. And the growth potential has not likely been exhausted, because consumers continue to opt for cards, instead of cash and check, in virtually every part of the world, both emerging markets and developed economies alike. At the same time, however, the cards business has found itself increasingly wrapped in controversy, especially as merchants have taken issue with rising cost. For a large, growing, and controversial industry, Slawsky and Zafar's new book provides a blueprint that explains how the business actually works and as such should interest a wide range of readers, including financial services executives and managers, as well as investors, regulators, and policy-makers.' Kenneth Posner, Morgan Stanley, NY, U.S.A 'Delivers an excellent topology of the business of payments. The authors provide a comprehensive review of the history and the future of payments. Its practical approach to cards makes it a valuable resource for people in the cards business and for those beginning their careers in cards. The authors’ insight on what constitutes an effective marketing strategy provides an excellent framework for card issuers to develop and execute strategies that will deliver results. A must-read'. Joe DiVanna, Director, Maris Strategies Limited ’This book offers an excellent overview of the cards industry. It describes with clarity industry best practices in all key areas.’ Michael Lafferty, Chairman, Lafferty □Group ’If you want to understand the credit card business, read this book. If you are in the credit card business and want to improve your market share, sales and profitability and only have time to read one book, read this one. It is like a mini MBA in credit card management and covers all aspects of the card business - from marketing and customer management, opeTable of ContentsContents: Introduction to payment cards; How payment cards work; Organizational design; Marketing and strategy; Existing account marketing; Customer management; Operations management; Fraud prevention and control; Collections; Infrastructure and delivery channels; Profitability; Business process analysis; Future of payment cards; Alternative payment products; Securitization; Index.

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Book SynopsisThe Routledge Companion to Intellectual Capital offers a comprehensive overview of an important field that has seen a diverse range of developments in research in recent years. Edited by leading scholars and with contributions from top academics and practitioners from around the world, this volume will provide not just theoretical analysis but also evaluate practice through case studies. Combining theoretical and practice perspectives, this comprehensive Companion addresses the role of IC inside and between organisations and institutions and how these contribute to the IC of nations, regions and clusters.Drawing on an extensive range of leading contributors,The Routledge Companion to Intellectual Capital will be of interest to scholars who want to understand IC from a variety of perspectives, as well as students who are seeking an authoritative and comprehensive source on IC and knowledge management. Trade ReviewExtended reporting frameworks that encompass intellectual capital have been demonstrated to return the investment made in them many times over. They also evince corporate social, environmental and good corporate governance. An efficient response by companies seeking an optimal market result would be to increase the disclosure and transparency of intellectual capital. Readers of this book will better understand this and discover how to add value in a way that benefits all stakeholders.Professor Richard Petty, Professor and Executive Director International, Macquarie Graduate School of Management; Macquarie University, Australia.Routledge Companions are marvellous assemblies of scholarship in specialised fields. I welcome intellectual capital now featuring in this series. Intellectual capital is highly interdisciplinary. This book contains a smörgåsbord of coverage, addressing cross-cutting intellectual capital issues by topic (Business model mapping, customer performance measurement, digital communication, disclosure, firm performance, integrated reporting, investors, value creation), by geography (Australia, China, Japan, New Zealand, Russia, Sweden, US) and by sector (banking, healthcare, universities). Some of the earliest writers feature as authors (who the editors call "grandfathers" of intellectual capital), as do some of the most prolific intellectual capital scholars, together with some active intellectual capital practitioners. The thirty chapters represent a mix of theory and practice, including case studies. This text will quickly become one of the leading resources for intellectual capital researchers.Niamh Brennan, Michael MacCormac Professor of Management, University College Dublin, Ireland.Table of ContentsTable of Contents The past, present and future for intellectual capital research: An overview John Dumay, James Guthrie, Federica Ricceri, and Christian Nielsen Part 1 – Stage 5: Critical IC The critical path of intellectual capital John Dumay, James Guthrie, and Jim Rooney Accounting for people Robin Roslender and Lissa Monk Part 2 – Stage 4: IC Ecosystems Seven Dimensions to Address for Intellectual Capital and Intangible Assets Navigation Leif Edvinsson Understanding and exploiting intellectual capital grounding regional development: Framework and metrics Giovanni Schiuma and Antonio Lerro Past, present, and future: Intellectual capital and the New Zealand public sector Grant Samkin and Annika Schneider Intellectual capital in the context of healthcare organizations: Does it matter? Emidia Vagnoni Part 3 – Stage 3: IC in Practice Rethinking models of banks and financial institutions using empirical research and ideas about intellectual capital John Holland Mobilizing intellectual capital in practice – A story of an Australian financial institution Vijaya Murthy and James Guthrie Intellectual capital management in public universities Jan Michalak, Joanna Krasodomska, Gunnar Rimmel, Jesper Sort, and Dariusz Trzmielak IC – A (re)turn to practice Hannu Ritvanen and Karl-Erik Sveiby Intellectual capital and innovation Jim Rooney and John Dumay Intellectual capital disclosure in digital communication Maurizio Massaro and John Dumay Enabling relational capital through customer performance measurement practices: A study of not-for-profit organizations Suresh Cuganesan Sustained competitive advantage and strategic intellectual capital management – Evidence from Japanese high performance small to medium sized enterprises Jun Yao and Chitoshi Koga Towards an integrated intellectual capital management framework Ulf Johanson Enabling intellectual capital measurement through business model mapping: The Nexus case Marco Montemari and Maria Serena Chiucchi Intellectual capital disclosure: What benefits, what costs, is it voluntary? Sarah Jane Smith Wissensbilanz Made in Germany – 12 years of experience confirm a powerful instrument Manfred Bornemann A management control system for environmental and social initiatives: An intellectual capital approach Paola Demartini and Cristiana Bernardi Levers and barriers to the implementation of intellectual capital reports: A field study Maria Serena Chiucchi, Marco Giuliani, and Stefano Marasca Revival of the fittest? Intellectual capital in Swedish companies Gunnar Rimmel, Diogenis Baboukardos, and Kristina Jonäll Emerging integrated reporting practices in the United States Mary Adams Capital reporting in Sweden: Insights about inclusiveness and integrativeness Peter Beusch and Axel Nilsson Part 4 – Stage 2: IC Guidelines Key contributions to the intellectual capital field of study Göran Roos Value creation in business models is based in intellectual Capital – And only intellectual capital! Henrik Dane-Nielsen and Christian Nielsen Making intellectual capital matter to the investment community Morten Lund and Christian Nielsen Intellectual Capital Profiles and Financial Performance of the Firm Henri Inkinen, Paavo Ritala, Mika Vanhala, and Aino Kianto Does intellectual capital matter for organizational performance in emerging markets? Evidence from Chinese and Russian contexts Aino Kianto, Tatiana Garanina, and Tatiana Andreeva Part 5 – Stage 1: IC Importance Integrated reporting and the connections between integrated reporting and intellectual capital Charl de Villiers and Pei-Chi Kelly Hsiao The Relevance of IC Indicators Bino Catasús

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Book SynopsisThe concept of fair value marked a major departure from traditional cost accounting. In theory, under this approach a balance sheet that better reflects the current value of assets and liabilities. Critics of fair value argue that it is less useful over longer time frames and prone to distortion by market inefficiencies resulting in procyclicality in the financial system by exacerbating market swings.Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by internationally recognized experts, this book, on a controversial and intensely debated topic, is a comprehensive reference source which: examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against looks at fair value from a number of different theoretical and practical perspectives, including a critical review of the merits and arguTrade Review'Fair value is a central notion in accounting practice, research and standard setting. This book, whose chapters are authored by top-notch accountants and academics, rolls over each of these dimensions to provide an authoritative and comprehensive analysis of the state-of-art and future developments in this area. I think it is a ‘must’ for those interested in fair value accounting.' — Salvador Carmona, Rector, IE University, Spain. Past President of the European Accounting Association and past editor of the European Accounting Review. 'Perhaps no issue in accounting has been as controversial as fair value. Written from the unique perspectives of leading scholars around the world, this collection explores its far reaching implications for managers, regulators, and the stability of financial markets. An engaging and accessible foray into the complex world of fair value accounting.' — Karen Nelson, Texas Christian University, USA Table of Contents1. Does the usage of fair values increase systemic risks? 2. Fair Value and the Conceptual Framework 3. Fair Value Accounting: A Standard Setting Perspective 4. Have the standard setters gone too far, or not far enough, with fair value accounting? 5. Shareholder value, financialization and accounting regulation: making sense of fair value adoption in the European union 6. Measuring Fair Value when Markets Malfunction: Evidence from the Financial Crisis 7. Fair Value Accounting in Financial Institutions 8. Bank Risk Management – and Fair Value Accounting 9. The Use of Fair Value Accounting in Risk Management in Non-Financial Firms 10. The History of the Fair Value Term and its Measurements 11. The "fairness" of fair value accounting: marking-to-market, marking-to-model, and financial reporting management 12. Let the Fox Guard the Henhouse: How Relaxing the Three-Level Fair Value Hierarchy Increases the Reliability of Fair Value Estimates 13. Fair Value Accounting -A Manager’s Perspective 14. Tax Related Implications of Fair Value Accounting 15. Fair Value Accounting and Executive Compensation 16. Fair value and the formation of financial market prices through ignorance and hazard 17. Fair Value Accounting: China Experience 18. Fair Values and Family Firms

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Book SynopsisFinancial accounting is the branch of accounting thought and practice concerned with preparing and providing information for external users of financial statements. This textbook helps students to understand the concepts that underpin the application of accounting theory to solve accounting problems. This international edition includes extracts from financial statements, definitions of key terms and exam examples. Unlike other textbooks, the author provides analysis of why accountants do what they do, and not just how. With such a wealth of accounting models and diagrams intertwined with this analysis, this book guides the reader through all the practicalities and concepts of financial accounting. Additional online questions, exercises and problems provide an opportunity to put this new-found knowledge into practice along the way.This book is an essential guide for students new to accountancy, and an equally useful tool for more eTrade Review'A very convenient and easy way into the complex material of accounting ... with its useful features, examples, and structure, [the book offers] a very diverse learning package. This book is a positive contribution to the literature.' - Christiane Pott, International Journal of Accounting'Written in a very friendly, easy-to-read style, this excellent financial accounting text will suit beginners as well as more experienced learners. Comprehensive and up-to-date, it enables readers to explore different angles of financial reporting. It makes good use of a number of relevant contemporary examples, which helps with maintaining student motivation.' - Dr Petros Vourvachis, Lecturer in Financial Accounting, Loughborough University, UKTable of ContentsPart 1: A Conceptual Overview 1. The Accounting Environment 2. Fundamental Accounting Concepts 3. The Accounting Equation and the Analysis of Transactions Part 2: The Accounting Process 4. Recording External Transactions 5. Recording Internal Transactions 6. Preparation and Presentation of Financial Statements 7. Closing Entries Part 3: The Accounting Process Explained 8. Purchase and Sale Transactions 9. Analysis Journals Part 4: Recognition and Measurement of the Elements of the Financial Statements 10. Property, Plant and Equipment 11. Inventory and Cost of Sales 12. Accounts Receivable 13. Cash and Bank 14. Accounts Payable 15. Owner's Equity and Non-Current Liabilities Part 5: Entity Forms 16. Partnerships 17. Companies Part 6: Sundry Topics 18. Statement of Cash Flows 19. Analysis of Financial Statements 20. Non-Business Entities 21. Incomplete Records

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Book SynopsisThe vast majority of international trade is supported by some form of trade financing: a specialized, sometimes complex form of financing that is poorly understood even by bankers and seasoned finance and treasury experts. Financing Trade and International Supply Chains takes the mystery out of trade and supply chain finance, providing a practical, straightforward overview of a discipline that is fundamental to the successful conduct of trade: trade that contributes to the creation of economic value, poverty reduction and international development, while increasing prosperity across the globe. The book suggests that every trade or supply chain finance solution, no matter how elaborate, addresses some combination of four elements: facilitation of secure and timely payment, effective mitigation of risk, provision of financing and liquidity, and facilitation of transactional and financial information flow. The book includes observations on the effective use of traditional mechanisms sucTrade Review’...very informative, full of useful information and a great read for anyone involved in international trade or trade finance, at any level or angle. A remarkable and very contemporary approach to issues that are currently very hot in international commerce.’ Eduardo Klurfan, Chief Representative and Country Head, Cuba, Bank of Nova Scotia, Havana, Cuba ’A very comprehensive description of all relevant aspects all stakeholders in financing trade and international supply chains have certainly waited for.’ Markus Wohlgeschaffen, Managing Director, Global Head of Trade Finance and Services, Global Transaction Banking, Unicredit Bank AG, Munich, Germany ’I wish I had a copy of this publication 29 years ago when I commenced my career as it would have provided both an excellent overview and a more in-depth treatment of the trade finance world...’ Maninder Bhandari, Founder, Partner and Managing Director, The Encore Group and The Derby Group, Dubai, UAE ’Malaket offers an insightful compendium of facts, figures, practices and case studies that show the reader how the world’s trade finance architecture actually works. His portrayal is thematic, and grounded in theory, but he somehow manages to bring that theory to life. He also captures the evolutionary nature of the system - the fact that we are watching a movie, not examining a snapshot, comes through loud and clear. This book will be required reading for beginners and veterans alike.’ Stephen S. Poloz, Governor of the Bank of Canada and past President and CEO of Export Development Canada ’The environment around international trade and trade finance has changed considerably in the years I have known Alexander Malaket. While banks have dedicated departments to meet the many requirements related to trade and supply chain finance, they also need to rely on external specialists, of which Alexander is one of the most knowledgeable representatives. This book is another evidence of his ability to stay onTable of Contents1: International Trade: Where Does Financing Fit In?; 2: The Fundamentals of Trade Finance; 3: Understanding Global Supply Chains; 4: Trade and Supply Chain Finance: The Needs of Buyers and Sellers; 5: Financing Trade: selected Concepts and Traditional Solutions; 6: Financing Trade: Supply Chain Finance; 7: Engaging Effectively with Finance Providers; 8: Financing in Context: Trade Transaction Flow; 9: Export Credit Agencies, International Institutions and Non-Bank Providers; 10: Flexibility of Financing: Small Business, Developing Markets; 11: Financing, Risk and Cost: Realities of International Trade; 12: Trade and Supply Chain Finance: A Case Study; 13: Looking Ahead: Trade and Supply Chain Finance Tomorrow

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Book SynopsisTracie L. Miller-Nobles, CPA, received her bachelor's and master's degrees in accounting from Texas A&M University and is currently pursuing her PhD in adult learning also at Texas A&M University. She is an Associate Professor at Austin Community College, Austin, TX. Previously she served as a Senior Lecturer at Texas State University, San Marcos, TX, and has served as department chair of the Accounting, Business, Computer Information Systems, and Marketing/Management department at Aims Community College, Greeley, CO. In addition, Miller-Nobles has taught as an adjunct professor at University of Texas and has public accounting experience with Deloitte Tax LLP and Sample & Bailey, CPAs.   Miller-Nobles is a recipient of the Texas Society of CPAs Rising Star Award, TSCPAs Outstanding Accounting Educator Award, NISOD Teaching Excellence Award and the Aims Community College Excellence in Teaching Award. She Table of Contents1. Accounting and the Business Environment 2. Recording Business Transactions 3. The Adjusting Process 4. Completing the Accounting Cycle 5. Merchandising Operations 6. Merchandise Inventory 7. Accounting Information Systems 8. Internal Control and Cash 9. Receivables 10. Plant Assets, Natural Resources, and Intangibles 11. Current Liabilities and Payroll 12. Partnerships 13. Corporations 14. Long-Term Liabilities 15. Investments 16. The Statement of Cash Flows 17. Financial Statement Analysis Appendix A: Present Value Tables and Future Value Tables

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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 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 Financial Statements 2-1 Just Fooling Around?: The Motley Fool 2-2 2.1 The Classified Balance Sheet 2-3 Current Assets 2-3 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 Financial Statements Using Ratios 2-8 Ratio Analysis 2-8 Using the Income Statement 2-9 Using a Classified Balance Sheet 2-10 2.3 Financial Reporting Concepts 2-14 The Standard-Setting Environment 2-14 Qualities of Useful Information 2-16 Assumptions in Financial Reporting 2-17 Principles in Financial Reporting 2-18 Cost Constraint 2-18 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 Accounting Transactions 3-3 Analyzing Transactions 3-4 Summary of Transactions 3-10 3.2 Accounts, Debits, and Credits 3-11 Debits and Credits 3-11 Debit and Credit Procedures 3-12 Stockholders’ Equity Relationships 3-15 Summary of Debit/Credit Rules 3-16 3.3 Using a Journal 3-17 The Recording Process 3-17 The Journal 3-18 3.4 The Ledger and Posting 3-20 The Ledger 3-20 Chart of Accounts 3-21 Posting 3-21 The Recording Process Illustrated 3-22 Summary Illustration of Journalizing and Posting 3-28 3.5 The Trial Balance 3-30 Limitations of a Trial Balance 3-31 4 Accrual Accounting Concepts 4-1 Keeping Track of Groupons: Groupon 4-1 4.1 Accrual-Basis Accounting and Adjusting Entries 4-2 The Revenue Recognition Principle 4-3 The Expense Recognition Principle 4-4 Accrual versus Cash Basis of Accounting 4-5 The Need for Adjusting Entries 4-5 Types of Adjusting Entries 4-6 4.2 Adjusting Entries for Deferrals 4-7 Prepaid Expenses 4-7 Unearned Revenues 4-12 4.3 Adjusting Entries for Accruals 4-15 Accrued Revenues 4-15 Accrued Expenses 4-17 Summary of Basic Relationships 4-20 4.4 The Adjusted Trial Balance and Closing Entries 4-23 Preparing the Adjusted Trial Balance 4-23 Preparing Financial Statements 4-24 Quality of Earnings 4-24 Closing the Books 4-27 Summary of the Accounting Cycle 4-30 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 Operating Cycles 5-3 Flow of Costs 5-4 5.2 Recording Purchases Under a Perpetual System 5-6 Freight Costs 5-8 Purchase Returns and Allowances 5-9 Purchase Discounts 5-10 Summary of Purchasing Transactions 5-11 5.3 Recording Sales Under a Perpetual System 5-11 Sales Returns and Allowances 5-13 Sales Discounts 5-14 Data Analytics and Credit Sales 5-15 5.4 Preparing the Multiple-Step Income Statement 5-16 Single-Step Income Statement 5-16 Multiple-Step Income Statement 5-17 5.5 Cost of Goods Sold Under a Periodic System 5-21 5.6 Gross Profit Rate and Profit Margin 5-23 Gross Profit Rate 5-23 Profit Margin 5-24 Appendix 5A: Periodic Inventory System 5-27 Recording Merchandise Transactions 5-27 Recording Purchases of Merchandise 5-28 Freight Costs 5-28 Recording Sales of Merchandise 5-28 Comparison of Entries—Perpetual vs. Periodic 5-29 Appendix 5B: Adjusting Entries for Credit Sales with Returns and Allowances 5-30 Data Analytics in Action 5-52 6 Reporting and Analyzing Inventory 6-1 “Where Is That Spare Bulldozer Blade?”: Caterpillar 6-1 6.1 Classifying and Determining Inventory 6-2 Classifying Inventory 6-2 Determining Inventory Quantities 6-4 6.2 Inventory Methods and Financial Effects 6-7 Specific Identification 6-7 Cost Flow Assumptions 6-8 Financial Statement and Tax Effects of Cost Flow Methods 6-13 Using Inventory Cost Flow Methods Consistently 6-15 6.3 Inventory Presentation and Analysis 6-17 Presentation 6-17 Lower-of-Cost-or-Net Realizable Value 6-17 Financial Analysis and Data Analytics 6-18 Adjustments for LIFO Reserve 6-21 Appendix 6A: Inventory Cost Flow Methods in Perpetual Inventory Systems 6-24 First-In, First-Out (FIFO) 6-24 Last-In, First-Out (LIFO) 6-25 Average-Cost 6-26 Appendix 6B: Effects of Inventory Errors 6-27 Income Statement Effects 6-27 Balance Sheet Effects 6-28 Data Analytics in Action 6-49 7 Fraud, Internal Control, and Cash 7-1 Minding the Money in Madison: Barriques 7-1 7.1 Fraud and Internal Control 7-3 Fraud 7-3 The Sarbanes-Oxley Act 7-3 Internal Control 7-4 Principles of Internal Control Activities 7-5 Data Analytics and Internal Controls 7-10 Limitations of Internal Control 7-11 7.2 Cash Controls 7-12 Cash Receipts Controls 7-12 Cash Disbursements Controls 7-14 Petty Cash Fund 7-16 7.3 Control Features of a Bank Account 7-17 Electronic Banking 7-18 Bank Statements 7-18 Reconciling the Bank Account 7-20 7.4 Reporting Cash 7-25 Cash Equivalents 7-26 Restricted Cash 7-26 Managing and Monitoring Cash 7-27 Cash Budgeting 7-29 Appendix 7A: Operation of a Petty Cash Fund 7-32 Establishing the Petty Cash Fund 7-33 Making Payments from the Petty Cash Fund 7-33 Replenishing the Petty Cash Fund 7-34 Data Analytics in Action 7-56 8 Reporting and Analyzing Receivables 8-1 What’s Cooking?: Nike 8-1 8.1 Recognition of Accounts Receivable 8-3 Types of Receivables 8-3 Recognizing Accounts Receivable 8-3 8.2 Valuation and Disposition of Accounts Receivable 8-5 Valuing Accounts Receivable 8-5 Disposing of Accounts Receivable 8-13 8.3 Notes Receivable 8-15 Determining the Maturity Date 8-16 Computing Interest 8-16 Recognizing Notes Receivable 8-17 Valuing Notes Receivable 8-17 Disposing of Notes Receivable 8-17 8.4 Receivables Presentation and Management 8-20 Financial Statement Presentation of Receivables 8-20 Managing Receivables 8-21 Evaluating Liquidity of Receivables 8-23 Accelerating Cash Receipts 8-24 Data Analytics and Receivables Management 8-25 Data Analytics in Action 8-46 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 Determining the Cost of Plant Assets 9-3 Expenditures During Useful Life 9-6 To Buy or Lease? 9-7 9.2 Depreciation Methods 9-8 Factors in Computing Depreciation 9-9 Depreciation Methods 9-9 Revising Periodic Depreciation 9-14 Impairments 9-15 9.3 Plant Asset Disposals 9-16 Sale of Plant Assets 9-16 Retirement of Plant Assets 9-18 9.4 Intangible Assets 9-19 Accounting for Intangible Assets 9-19 Types of Intangible Assets 9-20 Research and Development Costs 9-22 9.5 Statement Presentation and Analysis 9-23 Presentation 9-23 Analysis 9-25 Appendix 9A: Other Depreciation Methods 9-30 Declining-Balance Method 9-30 Units-of-Activity Method 9-31 Data Analytics in Action 9-55 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 What Is a Current Liability? 10-3 Notes Payable 10-3 Sales Taxes Payable 10-4 Unearned Revenues 10-5 Current Maturities of Long-Term Debt 10-6 Payroll and Payroll Taxes Payable 10-6 10.2 Characteristics of Bonds 10-9 Types of Bonds 10-9 Issuing Procedures 10-10 Bond Trading 10-10 Determining the Market Price of a Bond 10-11 10.3 Accounting for Bond Transactions 10-14 Issuing Bonds at Face Value 10-14 Discount or Premium on Bonds 10-14 Issuing Bonds at a Discount 10-15 Issuing Bonds at a Premium 10-17 Redeeming Bonds at Maturity 10-19 Redeeming Bonds Before Maturity 10-19 10.4 Presentation and Analysis 10-20 Presentation 10-20 Analysis 10-22 Appendix 10A: Straight-Line Amortization 10-26 Amortizing Bond Discount 10-26 Amortizing Bond Premium 10-28 Appendix 10B: Effective-Interest Amortization 10-29 Amortizing Bond Discount 10-29 Amortizing Bond Premium 10-31 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 Characteristics of a Corporation 11-3 Forming a Corporation 11-6 Stockholder Rights 11-7 Stock Issue Considerations 11-8 Corporate Capital 11-10 11.2 Accounting for Common, Preferred, and Treasury Stock 11-12 Accounting for Common Stock 11-12 Accounting for Preferred Stock 11-13 Accounting for Treasury Stock 11-14 11.3 Accounting for Dividends and Stock Splits 11-16 Cash Dividends 11-16 Dividend Preferences 11-19 Stock Dividends 11-21 Stock Splits 11-22 11.4 Presentation and Analysis 11-24 Retained Earnings 11-24 Retained Earnings Restrictions 11-25 Balance Sheet Presentation of Stockholders’ Equity 11-26 Analysis of Stockholders’ Equity 11-28 Debt versus Equity Decision 11-29 Appendix 11A: Entries for Stock Dividends 11-32 Data Analytics in Action 11-55 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 Usefulness of the Statement of Cash Flows 12-3 Classification of Cash Flows 12-3 Significant Noncash Activities 12-4 Format of the Statement of Cash Flows 12-5 12.2 Preparing the Statement of Cash Flows— Indirect Method 12-6 Indirect and Direct Methods 12-7 Indirect Method—Computer Services Company 12-7 Step 1: Operating Activities 12-9 Summary of Conversion to Net Cash Provided by Operating Activities—Indirect Method 12-12 Step 2: Investing and Financing Activities 12-13 Step 3: Net Change in Cash 12-15 12.3 Analyzing the Statement of Cash Flows 12-17 The Corporate Life Cycle 12-17 Free Cash Flow 12-19 Appendix 12A: Statement of Cash Flows—Direct Method 12-22 Step 1: Operating Activities 12-24 Step 2: Investing and Financing Activities 12-28 Step 3: Net Change in Cash 12-30 Appendix 12B: Worksheet for the Indirect Method 12-30 Preparing the Worksheet 12-31 Appendix 12C: Statement of Cash Flows—T-Account Approach 12-35 Data Analytics in Action 12-61 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 Sustainable Income 13-3 Quality of Earnings 13-7 13.2 Horizontal Analysis and Vertical Analysis 13-9 Horizontal Analysis 13-10 Vertical Analysis 13-12 13.3 Ratio Analysis 13-15 Liquidity Ratios 13-16 Solvency Ratios 13-17 Profitability Ratios 13-17 Financial Analysis and Data Analytics 13-18 Comprehensive Example of Ratio Analysis 13-18 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 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 F.1 Interest and Future Values F-2 Nature of Interest F-2 Future Value of a Single Amount F-3 Future Value of an Annuity F-5 F.2 Present Values F-8 Present Value Variables F-8 Present Value of a Single Amount F-9 Present Value of an Annuity F-11 Time Periods and Discounting F-13 Present Value of a Long-Term Note or Bond F-3 F.3 Capital Budgeting Situations F-16 F.4 Using Technological Tools F-18 Present Value of a Single Sum F-19 Present Value of an Annuity F-20 Future Value of a Single Sum F-21 Future Value of an Annuity F-22 Internal Rate of Return F-22 Useful Applications F-23 Appendix G Reporting and Analyzing Investments G-1 G.1 Accounting for Debt Investments G-2 Why Corporations Invest G-2 Accounting for Debt Investments G-2 G.2 Accounting for Stock Investments G-4 Holdings of Less Than 20% G-5 Holdings Between 20% and 50% G-6 Holdings of More Than 50% G-7 G.3 Reporting Investments in Financial Statements G-9 Debt Securities G-9 Equity Securities G-12 Balance Sheet Presentation G-13 Presentation of Realized and Unrealized Gain or Loss G-14 Company Index I-1 Subject Index I-5 Rapid Review: Chapter Content

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Book SynopsisTable of Contents1 Accounting in Action 1-1 Knowing the Numbers: Columbia Sportswear 1-1 1.1 Accounting Activities and Users 1-3 Three Activities 1-3 Data Analytics 1-4 Who Uses Accounting Data 1-5 1.2 The Building Blocks of Accounting 1-7 Ethics in Financial Reporting 1-8 Generally Accepted Accounting Principles 1-9 Measurement Principles 1-10 Assumptions 1-10 1.3 The Accounting Equation 1-13 Assets 1-13 Liabilities 1-13 Stockholders’ Equity 1-14 1.4 Analyzing Business Transactions 1-15 Accounting Transactions 1-16 Transaction Analysis 1-17 Summary of Transactions 1-21 1.5 The Four Financial Statements 1-22 Income Statement 1-23 Retained Earnings Statement 1-25 Balance Sheet 1-25 Statement of Cash Flows 1-25 Financial Statements: Order of Preparation 1-26 ESG Reporting: Beyond the Four Financial Statements 1-27 Appendix 1A: Career Opportunities in Accounting 1-28 Public Accounting 1-29 Private Accounting 1-29 Governmental Accounting 1-29 Forensic Accounting 1-30 “Show Me the Money” 1-30 2 The Recording Process 2-1 Accidents Happen: MF Global Holdings 2-1 2.1 Accounts, Debits, and Credits 2-3 Debits and Credits 2-3 Debit and Credit Procedures 2-4 Stockholders’ Equity Relationships 2-7 Summary of Debit/Credit Rules 2-8 2.2 The Journal 2-9 The Recording Process 2-9 The Journal 2-10 2.3 The Ledger and Posting 2-12 The Ledger 2-12 Posting 2-14 Chart of Accounts 2-15 The Recording Process Illustrated 2-16 Summary Illustration of Journalizing and Posting 2-22 2.4 The Trial Balance 2-24 Limitations of a Trial Balance 2-25 Locating Errors 2-25 Dollar Signs and Underlining 2-25 3 Adjusting the Accounts 3-1 Keeping Track of Groupons: Groupon 3-1 3.1 Accrual-Basis Accounting and Adjusting Entries 3-2 Fiscal and Calendar Years 3-3 Accrual- versus Cash-Basis Accounting 3-4 Recognizing Revenues and Expenses 3-4 The Need for Adjusting Entries 3-6 Types of Adjusting Entries 3-7 3.2 Adjusting Entries for Deferrals 3-8 Prepaid Expenses 3-8 Unearned Revenues 3-13 3.3 Adjusting Entries for Accruals 3-16 Accrued Revenues 3-17 Accrued Expenses 3-18 Summary of Basic Relationships 3-22 3.4 Adjusted Trial Balance and Financial Statements 3-24 Preparing the Adjusted Trial Balance 3-25 Preparing Financial Statements 3-25 Appendix 3A: Adjusting Entries for the Alternative Treatment of Deferrals 3-28 Prepaid Expenses 3-29 Unearned Revenues 3-30 Summary of Additional Adjustment Relationships 3-31 Appendix 3B: Financial Reporting Concepts 3-31 Qualities of Useful Information 3-32 Assumptions in Financial Reporting 3-33 Principles in Financial Reporting 3-33 Cost Constraint 3-34 4 Completing the Accounting Cycle 4-1 Everyone Likes to Win: Rhino Foods 4-1 4.1 The Worksheet 4-3 Steps in Preparing a Worksheet 4-4 Preparing Financial Statements from a Worksheet 4-6 Preparing Adjusting Entries from a Worksheet 4-8 4.2 Closing the Books 4-8 Preparing Closing Entries 4-9 Posting Closing Entries 4-11 Preparing a Post-Closing Trial Balance 4-12 4.3 The Accounting Cycle and Correcting Entries 4-15 Summary of the Accounting Cycle 4-15 Reversing Entries—An Optional Step 4-15 Correcting Entries—An Avoidable Step 4-15 4.4 The Classified Balance Sheet 4-19 Current Assets 4-19 Long-Term Investments 4-21 Property, Plant, and Equipment 4-21 Intangible Assets 4-22 Current Liabilities 4-23 Long-Term Liabilities 4-24 Stockholders’ (Owners’) Equity 4-24 Appendix 4A: Reversing Entries 4-25 Reversing Entries Example 4-26 5 Accounting for Merchandising Operations 5-1 Buy Now, Vote Later: REI 5-1 5.1 Merchandising Operations and Inventory Systems 5-3 Operating Cycles 5-3 Flow of Costs 5-4 5.2 Recording Purchases Under a Perpetual System 5-7 Freight Costs 5-8 Purchase Returns and Allowances 5-9 Purchase Discounts 5-10 Summary of Purchasing Transactions 5-11 5.3 Recording Sales Under a Perpetual System 5-11 Sales Returns and Allowances 5-13 Sales Discounts 5-14 Data Analytics and Credit Sales 5-15 5.4 The Accounting Cycle for a Merchandising Company 5-16 Adjusting Entries 5-16 Closing Entries 5-17 Summary of Merchandising Entries 5-17 5.5 Preparing the Multiple-Step Income Statement 5-19 Multiple-Step Income Statement 5-19 Single-Step Income Statement 5-22 Classified Balance Sheet 5-22 Appendix 5A: Merchandising Company Worksheet 5-24 Using a Worksheet 5-24 Appendix 5B: Periodic Inventory System 5-25 Determining Cost of Goods Sold Under a Periodic System 5-26 Recording Merchandise Transactions 5-27 Recording Purchases of Merchandise 5-27 Recording Sales of Merchandise 5-28 Journalizing and Posting Closing Entries 5-29 Using a Worksheet 5-30 Data Analytics in Action 5-54 6 Inventories 6-1 “Where Is That Spare Bulldozer Blade?”: Caterpillar 6-1 6.1 Classifying and Determining Inventory 6-2 Classifying Inventory 6-3 Determining Inventory Quantities 6-4 6.2 Inventory Methods and Financial Effects 6-7 Specific Identification 6-7 Cost Flow Assumptions 6-8 Financial Statement and Tax Effects of Cost Flow Methods 6-13 Using Inventory Cost Flow Methods Consistently 6-15 6.3 Effects of Inventory Errors 6-17 Income Statement Effects 6-17 Balance Sheet Effects 6-18 6.4 Inventory Presentation and Analysis 6-19 Presentation 6-19 Lower-of-Cost-or-Net Realizable Value 6-19 Financial Analysis and Data Analytics 6-20 Appendix 6A: Inventory Cost Flow Methods in Perpetual Inventory Systems 6-24 First-In, First-Out (FIFO) 6-24 Last-In, First-Out (LIFO) 6-25 Average-Cost 6-25 Appendix 6B: Estimating Inventories 6-26 Gross Profit Method 6-27 Retail Inventory Method 6-27 Data Analytics in Action 6-50 7 Fraud, Internal Control, and Cash 7-1 Minding the Money in Madison: Barriques 7-2 7.1 Fraud and Internal Control 7-3 Fraud 7-3 The Sarbanes-Oxley Act 7-3 Internal Control 7-4 Principles of Internal Control Activities 7-5 Data Analytics and Internal Controls 7-10 Limitations of Internal Control 7-11 7.2 Cash Controls 7-12 Cash Receipts Controls 7-12 Cash Disbursements Controls 7-15 Petty Cash Fund 7-16 7.3 Control Features of a Bank Account 7-19 Making Bank Deposits 7-20 Writing Checks 7-20 Electronic Banking 7-21 Bank Statements 7-22 Reconciling the Bank Account 7-23 7.4 Reporting Cash 7-28 Cash Equivalents 7-29 Restricted Cash 7-29 Data Analytics in Action 7-49 8 Accounting for Receivables 8-1 What’s Cooking?: Nike 8-1 8.1 Recognition of Accounts Receivable 8-3 Types of Receivables 8-3 Recognizing Accounts Receivable 8-3 8.2 Valuation and Disposition of Accounts Receivable 8-5 Valuing Accounts Receivable 8-5 Disposing of Accounts Receivable 8-13 8.3 Notes Receivable 8-15 Determining the Maturity Date 8-16 Computing Interest 8-16 Recognizing Notes Receivable 8-17 Valuing Notes Receivable 8-17 Disposing of Notes Receivable 8-17 8.4 Presentation and Analysis of Receivables 8-20 Presentation 8-20 Analysis 8-21 Data Analytics and Receivables Management 8-22 Data Analytics in Action 8-42 9 Plant Assets, Natural Resources, and Intangible Assets 9-1 A Tale of Two Airlines: American Airlines 9-1 9.1 Plant Asset Expenditures 9-3 Determining the Cost of Plant Assets 9-3 Expenditures During Useful Life 9-6 9.2 Depreciation Methods 9-8 Factors in Computing Depreciation 9-9 Depreciation Methods 9-9 Depreciation and Income Taxes 9-16 Revising Periodic Depreciation 9-16 Impairments 9-17 9.3 Plant Asset Disposals 9-18 Sale of Plant Assets 9-18 Retirement of Plant Assets 9-20 9.4 Natural Resources and Intangible Assets 9-21 Natural Resources 9-21 Depletion 9-21 Intangible Assets 9-22 Accounting for Intangible Assets 9-23 Types of Intangible Assets 9-23 Research and Development Costs 9-26 9.5 Statement Presentation and Analysis 9-27 Presentation 9-27 Analysis 9-28 Appendix 9A: Exchange of Plant Assets 9-29 Loss Treatment 9-29 Gain Treatment 9-30 Data Analytics in Action 9-51 10 Liabilities 10-1 And Then There Were Two: Maxwell Car Company 10-1 10.1 Accounting for Current Liabilities 10-3 What Is a Current Liability? 10-3 Notes Payable 10-3 Sales Taxes Payable 10-4 Unearned Revenues 10-5 Current Maturities of Long-Term Debt 10-6 Payroll and Payroll Taxes Payable 10-6 10.2 Characteristics of Bonds 10-9 Types of Bonds 10-9 Issuing Procedures 10-10 Bond Trading 10-10 Determining the Market Price of a Bond 10-11 10.3 Accounting for Bond Transactions 10-14 Issuing Bonds at Face Value 10-14 Discount or Premium on Bonds 10-14 Issuing Bonds at a Discount 10-15 Issuing Bonds at a Premium 10-17 Redeeming Bonds at Maturity 10-19 Redeeming Bonds Before Maturity 10-19 10.4 Accounting for Long-Term Notes Payable 10-20 Mortgage Notes Payable 10-20 Lease Liabilities 10-21 10.5 Presentation and Analysis 10-23 Presentation 10-23 Analysis 10-23 Debt and Equity Financing 10-26 Appendix 10A: Straight-Line Amortization 10-28 Amortizing Bond Discount 10-28 Amortizing Bond Premium 10-29 Appendix 10B: Effective-Interest Amortization 10-30 Amortizing Bond Discount 10-31 Amortizing Bond Premium 10-32 11 Corporations: Organization, Stock Transactions, and Stockholders’ Equity 11-1 Oh Well, I Guess I’ll Get Rich: Meta 11-1 11.1 Corporate Form of Organization 11-3 Characteristics of a Corporation 11-3 Forming a Corporation 11-6 Stockholder Rights 11-7 Stock Issue Considerations 11-8 Corporate Capital 11-10 11.2 Accounting for Common, Preferred, and Treasury Stock 11-12 Accounting for Common Stock 11-12 Accounting for Preferred Stock 11-14 Accounting for Treasury Stock 11-15 11.3 Accounting for Dividends and Stock Splits 11-19 Cash Dividends 11-19 Dividend Preferences 11-21 Stock Dividends 11-24 Stock Splits 11-26 11.4 Reporting and Analyzing Stockholders’ Equity 11-28 Retained Earnings 11-28 Retained Earnings Restrictions 11-29 Balance Sheet Presentation of Stockholders’ Equity 11-30 Analysis of Stockholders’ Equity 11-31 Appendix 11A: Stockholders’ Equity Statement 11-33 Appendix 11B: Book Value per Share 11-34 Book Value per Share Example 11-35 Book Value versus Market Price 11-35 Data Analytics in Action 11-58 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 Usefulness of the Statement of Cash Flows 12-3 Classification of Cash Flows 12-3 Significant Noncash Activities 12-4 Format of the Statement of Cash Flows 12-5 12.2 Preparing the Statement of Cash Flows— Indirect Method 12-6 Indirect and Direct Methods 12-7 Indirect Method—Computer Services Company 12-7 Step 1: Operating Activities 12-9 Summary of Conversion to Net Cash Provided by Operating Activities—Indirect Method 12-12 Step 2: Investing and Financing Activities 12-13 Step 3: Net Change in Cash 12-15 12.3 Analyzing the Statement of Cash Flows 12-17 Free Cash Flow 12-17 Appendix 12A: Statement of Cash Flows—Direct Method 12-19 Step 1: Operating Activities 12-21 Step 2: Investing and Financing Activities 12-25 Step 3: Net Change in Cash 12-27 Appendix 12B: Worksheet for the Indirect Method 12-27 Preparing the Worksheet 12-28 Appendix 12C: Statement of Cash Flows—T-Account Approach 12-32 Data Analytics in Action 12-58 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 Sustainable Income 13-3 Quality of Earnings 13-7 13.2 Horizontal Analysis and Vertical Analysis 13-9 Horizontal Analysis 13-10 Vertical Analysis 13-12 13.3 Ratio Analysis 13-15 Liquidity Ratios 13-16 Solvency Ratios 13-17 Profitability Ratios 13-17 Financial Analysis and Data Analytics 13-18 Comprehensive Example of Ratio Analysis 13-18 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 Time Value of Money F- 1 F.1 Interest and Future Values F- 2 Nature of Interest F- 2 Future Value of a Single Amount F- 3 Future Value of an Annuity F- 5 F.2 Present Values F- 8 Present Value Variables F- 8 Present Value of a Single Amount F- 9 Present Value of an Annuity F- 11 Time Periods and Discounting F- 13 Present Value of a Long-Term Note or Bond F- 13 F.3 Capital Budgeting Situations F- 16 F.4 Using Technological Tools F- 18 Present Value of a Single Sum F- 19 Present Value of an Annuity F- 20 Future Value of a Single Sum F- 21 Future Value of an Annuity F- 22 Internal Rate of Return F- 22 Useful Applications F- 23 Appendix G Reporting and Analyzing Investments G- 1 G.1 Accounting for Debt Investments G- 2 Why Corporations Invest G- 2 Accounting for Debt Investments G- 2 G.2 Accounting for Stock Investments G- 4 Holdings of Less Than 20% G- 5 Holdings Between 20% and 50% G- 6 Holdings of More Than 50% G- 7 G.3 Reporting Investments in Financial Statements G- 9 Debt Securities G- 9 Equity Securities G- 12 Balance Sheet Presentation G- 13 Presentation of Realized and Unrealized Gain or Loss G- 14 Company Index I- 1 Subject Index I- 3 Rapid Review: Chapter Content Appendix H Payroll Accounting H- 1 H.1 Recording the Payroll H- 1 Determining the Payroll H- 2 Recording the Payroll H- 5 H.2 Employer Payroll Taxes H- 8 FICA Taxes H- 8 Federal Unemployment Taxes H- 8 State Unemployment Taxes H- 9 Recording Employer Payroll Taxes H- 10 Filing and Remitting Payroll Taxes H- 10 Appendix I Subsidiary Ledgers and Special Journals I- 1 I.1 Subsidiary Ledgers I- 1 Subsidiary Ledger Example I- 2 Advantages of Subsidiary Ledgers I- 3 I.2 Special Journals I- 4 Sales Journal I- 4 Cash Receipts Journal I- 7 Purchases Journal I- 10 Cash Payments Journal I- 12 Effects of Special Journals on the General Journal I- 15 Cybersecurity: A Final Comment I- 16 Appendix J Accounting for Partnerships J- 1 J.1 Forming a Partnership J- 1 Characteristics of Partnerships J- 1 Organizations with Partnership Characteristics J- 3 Advantages and Disadvantages of Partnerships J- 4 The Partnership Agreement J- 5 Accounting for a Partnership Formation J- 5 J.2 Accounting for Partnership Net Income or Net Loss J- 6 Dividing Net Income or Net Loss J- 6 Partnership Financial Statements J- 10 J.3 Accounting for Partnership Liquidation J- 11 No Capital Deficiency J- 11 Capital Deficiency J- 13 J.4 Admission and Withdrawal of Partners J- 15 Admission of a Partner J- 15 Withdrawal of a Partner J- 19 Appendix K Other Significant Liabilities K- 1 K.1 Contingent Liabilities K- 1 Reporting a Contingent Liability K- 2 Disclosure of Contingent Liabilities K- 3 K.2 Additional Employee Compensation Benefits K- 3 Paid Absences K- 3 Postretirement Benefits K- 4

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Book SynopsisOver time, the stock market creates great wealth for investors. And yet, most investors do not become wealthy by investing in the stock market, instead having experiences that range from inadequate to disastrous.So why the disconnect?The answer is found in a set of widely held, mistaken beliefs about what it takes to be a successful investor. At first glance, these investment myths seem grounded in logic. In reality, though, these beliefs provide investors with perfect blueprints for investment failure by encouraging in them an emotion-driven, trading-intensive mentality. These myths are propagated by Wall Street, which reaps huge profits from this behavior and by the financial media that is starving for sensationalistic content.As an independent investment advisor, Jack Calhoun has spent much of the past 15 years educating investors about the dangers of these mistaken ideas. In (i)The 12 Investment Myths(/i), he explores and debunks these myths one-by-one and in the process sets investors on a path to harness the tremendous wealth-creation machine that is the stock market.

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