Accounting Financial Accounting
Financial Accounting

Financial Accounting Kimmel • 8th Edition • 978-1119221647

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Ch. 1 - Introduction to Financial Statements

Welcome! Types of Accounting Business Organization Fundamental Accounting Equation The Financial Statements Sample Financial Statements - Coca Cola GAAP vs. IFRS: Introduction

Ch. 2 - A Further Look at Financial Statements

Classified Balance Sheet Components Introduction to Ratios Ratios: Earnings Per Share (EPS) Ratios: Working Capital and the Current Ratio Ratios: Debt to Asset Ratio Ratios: Free Cash Flow Useful Information GAAP vs. IFRS: Classified Balance Sheet

Ch. 3 - The Accounting Information System

Journal Entries: Debits and Credits Accounting Flow Intuition: BASE Formula Journal Entries: Business Formation Example Trial Balance GAAP vs. IFRS: Recording Differences

Ch. 4 - Accrual Accounting Concepts

Accrual Accounting vs. Cash Basis Accounting Revenue Recognition and Expense Recognition Introduction to Adjusting Journal Entries and Prepaid Expenses Adjusting Entries: Supplies Adjusting Entries: Unearned Revenue Adjusting Entries: Accrued Expenses Adjusting Entries: Accrued Revenues Adjusting Entries: Depreciation Summary of Adjusting Entries Unadjusted vs Adjusted Trial Balance Closing Entries Post-Closing Trial Balance Ratios: Quality of Earnings Ratio GAAP vs. IFRS: Adjusting Entries

Ch. 5 - Merchandising Operations and the Multi-Step Income Statement

Service Company vs. Merchandising Company Net Sales Cost of Goods Sold - Perpetual Inventory vs. Periodic Inventory Perpetual Inventory - Purchases Perpetual Inventory - Freight Costs Perpetual Inventory - Purchase Discounts Perpetual Inventory - Purchasing Summary Periodic Inventory - Purchases Periodic Inventory - Freight Costs Periodic Inventory - Purchase Discounts Periodic Inventory - Purchasing Summary Single-step Income Statement Multi-step Income Statement Comprehensive Income Ratios: Gross Profit Rate Ratios: Profit Margin Ratios: Quality of Earnings Ratio GAAP vs. IFRS: Merchandising

Ch. 6 - Reporting and Analyzing Inventory

Merchandising Company vs. Manufacturing Company Physical Inventory Count, Ownership of Goods, and Consigned Goods Specific Identification Periodic Inventory - FIFO, LIFO, and Average Cost Perpetual Inventory - FIFO, LIFO, and Average Cost Financial Statement Effects of Inventory Costing Methods Lower of Cost or Market Ratios: Inventory Turnover Ratios: Average Days in Inventory GAAP vs. IFRS: Inventory

Ch. 7 - Fraud, Internal Control, and Cash

Fraud and the Fraud Triangle Sarbanes-Oxley Act Five Components of Internal Controls Principles of Control Activities Limitations of Internal Controls Petty Cash Bank Reconciliation Journal Entries for Bank Reconciliation GAAP vs. IFRS: Fraud, Internal Controls, and Cash

Ch. 8 - Reporting and Analyzing Receivables

Types of Receivables Net Accounts Receivable: Direct Write-off Method Net Accounts Receivable: Allowance for Doubtful Accounts Net Accounts Receivable: Percentage of Sales Method Net Accounts Receivable: Aging of Receivables Method Notes Receivable Ratios: Accounts Receivable (AR) Turnover Ratios: Average Collection Period (Days Sales Outstanding) GAAP vs. IFRS: Receivables

Ch. 9 - Reporting and Analyzing Long-Lived Assets

Initial Cost of Long Lived Assets Ordinary Repairs vs. Capital Improvements Depreciation: Straight Line Depreciation: Declining Balance Depreciation: Units-of-Activity Depreciation: Summary of Main Methods Depreciation for Partial Years Retirement of Plant Assets (No Proceeds) Sale of Plant Assets Intangible Assets and Amortization Asset Impairments Ratios: Return on Assets (ROA) Ratios: Total Asset Turnover Ratios: Profit Margin x Asset Turnover = Return On Assets GAAP vs. IFRS: Long Lived Assets

Ch. 10 - Reporting and Analyzing Liabilities

Types of Liabilities Notes Payable Payroll and Payroll Taxes Sales Tax Payable Current Portion of Long Term Debt Contingent Liabilities Introduction to Bonds and Bond Characteristics Face Value Bonds Discount on Bonds Premium on Bonds Straight Line Amortization of Bond Premium or Discount Effective Interest Amortization of Bond Premium or Discount Redeeming Bonds before Maturity Ratios: Times Interest Earned (TIE) GAAP vs. IFRS: Liabilities

Ch. 11 - Reporting and Analyzing Stockholder's Equity

Characteristics of a Corporation Shares Authorized, Issued, and Outstanding Issuing Par Value Stock Issuing No Par Value Stock Retained Earnings Preferred Stock Treasury Stock Dividends and Dividend Preferences Stock Dividends Stock Splits Ratios: Payout Ratio Ratios: Return on Equity (ROE) GAAP vs. IFRS: Stockholders' Equity

Ch. 12 - Statement of Cash Flows

Introduction to the Statement of Cash Flows Operating Activities: Indirect Method Operating Activities: Direct Method Investing Activities Financing Activities Significant Noncash Activities Ratios: Free Cash Flow GAAP vs. IFRS: Statement of Cash Flows

Ch. 13 - Financial Analysis: The Big Picture

Horizontal Analysis Vertical Analysis Discontinued Operations and Extraordinary Items Introduction to Ratios Ratios: Working Capital and the Current Ratio Ratios: Inventory Turnover Ratios: Average Days in Inventory Ratios: Accounts Receivable (AR) Turnover Ratios: Average Collection Period (Days Sales Outstanding) Ratios: Debt to Asset Ratio Ratios: Times Interest Earned (TIE) Ratios: Free Cash Flow Ratios: Earnings Per Share (EPS) Ratios: Price-Earnings Ratio (PE Ratio) Ratios: Gross Profit Rate Ratios: Profit Margin Ratios: Return on Assets (ROA) Ratios: Total Asset Turnover Ratios: Payout Ratio GAAP vs. IFRS: Analysis and Income Statement Presentation

End Of Book Appendix: Time Value of Money

Time Value of Money Equations Using Time Value of Money Tables

End Of Book Appendix: Reporting Investments

Trading Securities Introduction to Investments in Securities Available-for-Sale (AFS) Securities Held-to-Maturity (HTM) Securities