Accounting Financial Accounting
Financial Accounting

Financial Accounting Libby, Libby, Short • 7th Edition • 978-1259222139

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Ch. 1 - Financial Statements and Business Decisions

Welcome! Types of Accounting Business Organization Fundamental Accounting Equation The Financial Statements Sample Financial Statements - Coca Cola

Ch. 2 - Investing and Financing Decisions and the Balance Sheet

Useful Information Journal Entries: Debits and Credits Accounting Flow Intuition: BASE Formula Journal Entries: Business Formation Example Trial Balance Classified Balance Sheet Components Introduction to Ratios Ratios: Working Capital and the Current Ratio

Ch. 3 - Operating Decisions and the Income Statement

Accrual Accounting vs. Cash Basis Accounting Revenue Recognition and Expense Recognition Single-step Income Statement Multi-step Income Statement Ratios: Total Asset Turnover

Ch. 4 - Adjustments, Financial Statements, and the Quality of Earnings

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: Profit Margin

Ch. 5 - Communicating and Interpreting Accounting Information

Fraud and the Fraud Triangle Sarbanes-Oxley Act Ratios: Earnings Per Share (EPS) Ratios: Return on Assets (ROA) Ratios: Total Asset Turnover Ratios: Profit Margin x Asset Turnover = Return On Assets Discontinued Operations and Extraordinary Items

Ch. 6 - Reporting and Interpreting Sales Revenue, Receivables, and Cash

Service Company vs. Merchandising Company Net Sales Physical Inventory Count, Ownership of Goods, and Consigned Goods Five Components of Internal Controls Limitations of Internal Controls Bank Reconciliation Journal Entries for Bank Reconciliation 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 Ratios: Gross Profit Rate Ratios: Accounts Receivable (AR) Turnover

Ch. 7 - Reporting and Interpreting Cost of Goods Sold and Inventory

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 Merchandising Company vs. Manufacturing Company Specific Identification Periodic Inventory - FIFO, LIFO, and Average Cost Perpetual Inventory - FIFO, LIFO, and Average Cost Financial Statement Effects of Inventory Costing Methods Inventory Errors

Ch. 8 - Reporting and Interpreting Property, Plant, and Equipment; Natural Resources; and Intangibles

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 Change in Estimate: Depreciation Intangible Assets and Amortization Natural Resources and Depletion Asset Impairments Ratios: Fixed Asset Turnover

Ch. 9 - Reporting and Interpreting Liabilities

Types of Liabilities Notes Payable Payroll and Payroll Taxes Current Portion of Long Term Debt Contingent Liabilities Estimated Liabilities: Warranties Ratios: Working Capital and the Current Ratio Ratios: Quick (Acid Test) Ratio Ratios: Accounts Payable Turnover Time Value of Money Equations Using Time Value of Money Tables

Ch. 10 - Reporting and Interpreting Bonds

Introduction to Bonds and Bond Characteristics Face Value Bonds Discount on Bonds Premium on Bonds Zero Coupon Bonds Straight Line Amortization of Bond Premium or Discount Effective Interest Amortization of Bond Premium or Discount Redeeming Bonds before Maturity Ratios: Debt to Equity Ratio Ratios: Times Interest Earned (TIE)

Ch. 11 - Reporting and Interpreting Owners' 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: Earnings Per Share (EPS) Ratios: Dividend Yield Ratio

Ch. 12 - Reporting and Interpreting Investments in Other Corporations

Introduction to Investments in Securities Comprehensive Income Trading Securities Available-for-Sale (AFS) Securities Held-to-Maturity (HTM) Securities Equity Method Ratios: Economic Return from Investing

Ch. 13 - 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: Quality of Earnings Ratio Ratios: Free Cash Flow Ratios: Capital Acquisition Ratio

Ch. 14 - Analyzing Financial Statements

Common-sized Statements Introduction to Ratios Ratios: Working Capital and the Current Ratio Ratios: Return on Equity (ROE) Ratios: Return on Assets (ROA) Ratios: Quality of Earnings Ratio Ratios: Profit Margin Ratios: Fixed Asset Turnover Ratios: Total Asset Turnover Ratios: Quick (Acid Test) Ratio Ratios: Inventory Turnover Ratios: Average Days in Inventory Ratios: Times Interest Earned (TIE) Ratios: Debt to Equity Ratio Ratios: Price-Earnings Ratio (PE Ratio) Ratios: Dividend Yield Ratio

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