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