Book Title: Original-Principles of Accounting — Financial Accounting

Author: aweiss1spsccedu

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Contents

Introduction
Preface
Mitchell Franklin; Patty Graybeal; and Dixon Cooper
I. Role of Accounting in Society
1. 1. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 2. Explain the Importance of Accounting and Distinguish between Financial and Managerial Accounting
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 3. Identify Users of Accounting Information and How They Apply Information
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 4. Describe Typical Accounting Activities and the Role Accountants Play in Identifying, Recording, and Reporting Financial Activities
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 5. Explain Why Accounting Is Important to Business Stakeholders
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 6. Describe the Varied Career Paths Open to Individuals with an Accounting Education
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
II. Introduction to Financial Statements
1. 7. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 8. Describe the Income Statement, Statement of Owner’s Equity, Balance Sheet, and Statement of Cash Flows, and How They Interrelate
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 9. Define, Explain, and Provide Examples of Current and Noncurrent Assets, Current and Noncurrent Liabilities, Equity, Revenues, and Expenses
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 10. Prepare an Income Statement, Statement of Owner’s Equity, and Balance Sheet
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
III. Analyzing and Recording Transactions
1. 11. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 12. Describe Principles, Assumptions, and Concepts of Accounting and Their Relationship to Financial Statements
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 13. Define and Describe the Expanded Accounting Equation and Its Relationship to Analyzing Transactions
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 14. Define and Describe the Initial Steps in the Accounting Cycle
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 15. Analyze Business Transactions Using the Accounting Equation and Show the Impact of Business Transactions on Financial Statements
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 16. Use Journal Entries to Record Transactions and Post to T-Accounts
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
7. 17. Prepare a Trial Balance
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
IV. The Adjustment Process
1. 18. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 19. Explain the Concepts and Guidelines Affecting Adjusting Entries
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 20. Discuss the Adjustment Process and Illustrate Common Types of Adjusting Entries
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 21. Record and Post the Common Types of Adjusting Entries
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 22. Use the Ledger Balances to Prepare an Adjusted Trial Balance
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 23. Prepare Financial Statements Using the Adjusted Trial Balance
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
V. Completing the Accounting Cycle
1. 24. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 25. Describe and Prepare Closing Entries for a Business
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 26. Prepare a Post-Closing Trial Balance
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 27. Apply the Results from the Adjusted Trial Balance to Compute Current Ratio and Working Capital Balance, and Explain How These Measures Represent Liquidity
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 28. Appendix: Complete a Comprehensive Accounting Cycle for a Business
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
VI. Merchandising Transactions
1. 29. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 30. Compare and Contrast Merchandising versus Service Activities and Transactions
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 31. Compare and Contrast Perpetual versus Periodic Inventory Systems
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 32. Analyze and Record Transactions for Merchandise Purchases Using the Perpetual Inventory System
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 33. Analyze and Record Transactions for the Sale of Merchandise Using the Perpetual Inventory System
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 34. Discuss and Record Transactions Applying the Two Commonly Used Freight-In Methods
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
7. 35. Describe and Prepare Multi-Step and Simple Income Statements for Merchandising Companies
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
8. 36. Appendix: Analyze and Record Transactions for Merchandise Purchases and Sales Using the Periodic Inventory System
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
VII. Accounting Information Systems
1. 37. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 38. Define and Describe the Components of an Accounting Information System
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 39. Describe and Explain the Purpose of Special Journals and Their Importance to Stakeholders
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 40. Analyze and Journalize Transactions Using Special Journals
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 41. Prepare a Subsidiary Ledger
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 42. Describe Career Paths Open to Individuals with a Joint Education in Accounting and Information Systems
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
VIII. Fraud, Internal Controls, and Cash
1. 43. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 44. Analyze Fraud in the Accounting Workplace
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 45. Define and Explain Internal Controls and Their Purpose within an Organization
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 46. Describe Internal Controls within an Organization
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 47. Define the Purpose and Use of a Petty Cash Fund, and Prepare Petty Cash Journal Entries
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 48. Discuss Management Responsibilities for Maintaining Internal Controls within an Organization
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
7. 49. Define the Purpose of a Bank Reconciliation, and Prepare a Bank Reconciliation and Its Associated Journal Entries
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
8. 50. Describe Fraud in Financial Statements and Sarbanes-Oxley Act Requirements
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
IX. Accounting for Receivables
1. 51. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 52. Explain the Revenue Recognition Principle and How It Relates to Current and Future Sales and Purchase Transactions
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 53. Account for Uncollectible Accounts Using the Balance Sheet and Income Statement Approaches
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 54. Determine the Efficiency of Receivables Management Using Financial Ratios
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 55. Discuss the Role of Accounting for Receivables in Earnings Management
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 56. Apply Revenue Recognition Principles to Long-Term Projects
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
7. 57. Explain How Notes Receivable and Accounts Receivable Differ
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
8. 58. Appendix: Comprehensive Example of Bad Debt Estimation
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
X. Inventory
1. 59. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 60. Describe and Demonstrate the Basic Inventory Valuation Methods and Their Cost Flow Assumptions
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 61. Calculate the Cost of Goods Sold and Ending Inventory Using the Periodic Method
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 62. Calculate the Cost of Goods Sold and Ending Inventory Using the Perpetual Method
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 63. Explain and Demonstrate the Impact of Inventory Valuation Errors on the Income Statement and Balance Sheet
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 64. Examine the Efficiency of Inventory Management Using Financial Ratios
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
XI. Long-Term Assets
1. 65. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 66. Distinguish between Tangible and Intangible Assets
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 67. Analyze and Classify Capitalized Costs versus Expenses
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 68. Explain and Apply Depreciation Methods to Allocate Capitalized Costs
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 69. Describe Accounting for Intangible Assets and Record Related Transactions
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 70. Describe Some Special Issues in Accounting for Long-Term Assets
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
XII. Current Liabilities
1. 71. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 72. Identify and Describe Current Liabilities
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 73. Analyze, Journalize, and Report Current Liabilities
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 74. Define and Apply Accounting Treatment for Contingent Liabilities
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 75. Prepare Journal Entries to Record Short-Term Notes Payable
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 76. Record Transactions Incurred in Preparing Payroll
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
XIII. Long-Term Liabilities
1. 77. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 78. Explain the Pricing of Long-Term Liabilities
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 79. Compute Amortization of Long-Term Liabilities Using the Effective-Interest Method
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 80. Prepare Journal Entries to Reflect the Life Cycle of Bonds
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 81. Appendix: Special Topics Related to Long-Term Liabilities
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 82. Chapter 1
7. 83. testing chapter
XIV. Corporation Accounting
1. 84. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 85. Explain the Process of Securing Equity Financing through the Issuance of Stock
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 86. Analyze and Record Transactions for the Issuance and Repurchase of Stock
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 87. Record Transactions and the Effects on Financial Statements for Cash Dividends, Property Dividends, Stock Dividends, and Stock Splits
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 88. Compare and Contrast Owners’ Equity versus Retained Earnings
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 89. Discuss the Applicability of Earnings per Share as a Method to Measure Performance
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
XV. Partnership Accounting
1. 90. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 91. Describe the Advantages and Disadvantages of Organizing as a Partnership
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 92. Describe How a Partnership Is Created, Including the Associated Journal Entries
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 93. Compute and Allocate Partners’ Share of Income and Loss
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 94. Prepare Journal Entries to Record the Admission and Withdrawal of a Partner
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 95. Discuss and Record Entries for the Dissolution of a Partnership
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
XVI. Statement of Cash Flows
1. 96. Why It Matters
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
2. 97. Explain the Purpose of the Statement of Cash Flows
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
3. 98. Differentiate between Operating, Investing, and Financing Activities
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
4. 99. Prepare the Statement of Cash Flows Using the Indirect Method
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
5. 100. Prepare the Completed Statement of Cash Flows Using the Indirect Method
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
6. 101. Use Information from the Statement of Cash Flows to Prepare Ratios to Assess Liquidity and Solvency
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
7. 102. Appendix: Prepare a Completed Statement of Cash Flows Using the Direct Method
  Mitchell Franklin; Patty Graybeal; and Dixon Cooper
Appendix
Financial Statement Analysis
Mitchell Franklin; Patty Graybeal; and Dixon Cooper
Time Value of Money
Mitchell Franklin; Patty Graybeal; and Dixon Cooper
Suggested Resources
Mitchell Franklin; Patty Graybeal; and Dixon Cooper

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Original-Principles of Accounting -- Financial Accounting Copyright © by aweiss1spsccedu. All Rights Reserved.

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Title: Original-Principles of Accounting — Financial Accounting
Author: aweiss1spsccedu