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Managerial Accounting

ISBN: 9780072834949 | 0072834943
Edition: 11th
Format: Hardcover
Publisher: McGraw-Hill/Irwin
Pub. Date: 12/8/2004

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SummaryTable of Contents
As the long-time best-seller, Garrison has helped guide close to 2 million students through the challenging waters of managerial accounting since it was first published. It identifies the three functions managers must perform within their organizations-plan operations, control activities, and make decisions-and explains what accounting information is necessary for these functions, how to collect it, and how to interpret it. To achieve this, Managerial Accounting, 11/E, focuses, now as in the past, on three qualities:Relevance: Every effort is made to help students relate the concepts in this book to the decisions made by working managers. With insightful chapter openers, the popular Managerial Accounting in Action segments within the chapters, and stimulating end-of-chapter exercises, a student reading Garrison should never have to ask "Why am I learning this?"Balance: There's more than one type of business, and so Garrison covers a variety of business models, including not-for-profit, retail, service, and wholesale organizations as well as manufacturing. In the eleventh edition, service company examples are highlighted with icons in the margins of the text.Clarity: Generations of students have praised Garrison for the friendliness and readability of its writing, but that's just the beginning. Technical discussions have been simplified, material has been reordered, and the entire book carefully retuned to make teaching-and learning-from Garrison as easy as it can be. In addition, the supplements package is written by Garrison, Noreen, and Brewer, ensuring that students and professors will work with clear, well-written supplements that employ consistent terminology.
Managerial Accounting and the Business Environment
2(32)
The Work of Management and the Need for Managerial Accounting Information
4(2)
... MOREPlanning
5(1)
Directing and Motivating
5(1)
Controlling
5(1)
The End Results of Managers' Activities
6(1)
The Planning and Control Cycle
6(1)
Comparison of Financial and Managerial Accounting
6(3)
Emphasis on the Future
6(2)
Relevance of Data
8(1)
Less Emphasis on Precision
8(1)
Segments of an Organization
8(1)
Generally Accepted Accounting Principles (GAAP)
9(1)
Managerial Accounting---Not Mandatory
9(1)
Organizational Structure
9(3)
Decentralization
9(1)
Line and Staff Relationships
10(1)
The Chief Financial Officer
11(1)
The Changing Business Environment
12(8)
Just-In-Time (JIT)
12(2)
JIT Consequences
14(1)
Benefits of a JIT System
15(1)
Total Quality Management (TQM)
15(1)
Process Reengineering
16(1)
The Theory of Constraints (TOC)
17(1)
International Competition
18(1)
E-Commerce
19(1)
Professional Ethics
20(7)
Code of Conduct for Management Accountants
22(2)
Company Codes of Conduct
24(2)
Codes of Conduct on the International Level
26(1)
The Certified Management Accountant (CMA)
27(7)
Summary
27(1)
Glossary
28(1)
Questions
29(1)
Exercises
30(1)
Problems
31(2)
Group and Internet Exercises
33(1)
Cost Terms, Concepts, and Classifications
34(52)
General Cost Classifications
36(2)
Manufacturing Costs
36(1)
Direct Materials
36(1)
Direct Labor
36(1)
Manufacturing Overhead
37(1)
Nonmanufacturing Costs
38(1)
Product Costs versus Period Costs
38(3)
Product Costs
38(1)
Period Costs
39(2)
Cost Classifications on Financial Statements
41(4)
The Balance Sheet
41(1)
The Income Statement
42(1)
Schedule of Cost of Goods Manufactured
43(2)
Product Cost Flows
45(3)
Inventoriable Costs
45(1)
An Example of Cost Flows
46(2)
Cost Classifications for Predicting Cost Behavior
48(2)
Variable Cost
48(1)
Fixed Cost
49(1)
Cost Classifications for Assigning Costs to Cost Objects
50(1)
Direct Cost
50(1)
Indirect Cost
50(1)
Cost Classifications for Decision Making
51(35)
Differential Cost and Revenue
51(1)
Opportunity Cost
52(1)
Example 1
52(1)
Example 2
52(1)
Example 3
52(1)
Sunk Cost
53(1)
Summary
53(1)
Review Problem 1: Cost Terms
54(1)
Review Problem 2: Schedule of Cost of Goods Manufactured and Income Statement
55(2)
Glossary
57(1)
Appendix 2A: Further Classification of Labor Costs'
58(1)
Appendix 2B: Cost of Quality
59(9)
Questions
68(1)
Exercises
69(4)
Problems
73(9)
Cases
82(2)
Group and Internet Exercises
84(2)
Systems Design: Job-Order Costing
86(58)
Process and Job-Order Costing
88(1)
Process Costing
88(1)
Job-Order Costing
89(1)
Job-Order Costing---An Overview
89(9)
Measuring Direct Materials Cost
90(1)
Job Cost Sheet
91(1)
Measuring Direct Labor Cost
91(2)
Application of Manufacturing Overhead
93(1)
Using the Predetermined Overhead Rate
94(1)
The Need for a Predetermined Rate
94(2)
Choice of an Allocation Base for Overhead Cost
96(1)
Computation of Unit Costs
96(1)
Summary of Document Flows
96(2)
Job-Order Costing---The Flow of Costs
98(6)
The Purchase and Issue of Materials
98(1)
Issue of Direct and Indirect Materials
98(1)
Issue of Direct Materials Only
99(1)
Labor Cost
99(1)
Manufacturing Overhead Costs
100(1)
The Application of Manufacturing Overhead
101(1)
The Concept of a Clearing Account
101(1)
Nonmanufacturing Costs
102(1)
Cost of Goods Manufactured
103(1)
Cost of Goods Sold
103(1)
Summary of Cost Flows
104(1)
Problems of Overhead Application
104(8)
Underapplied and Overapplied Overhead
104(5)
Disposition of Under- or Overapplied Overhead Balances
109(1)
Closed Out to Cost of Goods Sold
109(1)
Allocated between Accounts
110(1)
A General Model of Product Cost Flows
110(1)
Multiple Predetermined Overhead Rates
110(1)
Job-Order Costing in Service Companies
111(1)
Use of Information Technology
112(32)
Summary
113(1)
Review Problem: Job-Order Costing
114(2)
Glossary
116(1)
Appendix 3A: The Predetermined Overhead Rate and Capacity
117(1)
Questions
118(1)
Exercises
119(7)
Problems
126(12)
Cases
138(4)
Group and Internet Exercises
142(2)
Systems Design: Process Costing
144(38)
Comparison of Job-Order and Process Costing
146(1)
Similarities between Job-Order and Process Costing
146(1)
Differences between Job-Order and Process Costing
146(1)
A Perspective of Process Cost Flows
147(5)
Processing Departments
147(1)
The Flow of Materials, Labor, and Overhead Costs
148(1)
Materials, Labor, and Overhead Cost Entries
148(1)
Materials Costs
149(1)
Labor Costs
149(1)
Overhead Costs
150(1)
Completing the Cost Flows
150(2)
Equivalent Units of Production
152(1)
Weighted-Average Method
152(1)
Production Report---Weighted-Average Method
153(6)
Step 1: Prepare a Quantity Schedule and Compute the Equivalent Units
155(1)
Step 2: Compute Costs per Equivalent Unit
156(1)
Step 3: Prepare a Cost Reconciliation
156(1)
Example of a Cost Reconciliation
156(3)
Operation Costing
159(23)
Summary
159(1)
Review Problem: Process Cost Flows and Reports
160(2)
Glossary
162(1)
Appendix 4A: FIFO Method
162(6)
Questions
168(1)
Exercises
169(5)
Problems
174(6)
Cases
180(1)
Group and Internet Exercises
181(1)
Cost Behavior: Analysis and Use
182(46)
Types of Cost Behavior Patterns
184(12)
Variable Costs
184(1)
The Activity Base
185(1)
Extent of Variable Costs
186(1)
True Variable versus Step-Variable Costs
187(1)
True Variable Costs
187(1)
Step-Variable Costs
187(1)
The Linearity Assumption and the Relevant Range
188(1)
Fixed Costs
188(2)
Types of Fixed Costs
190(1)
Committed Fixed Costs
190(1)
Discretionary Fixed Costs
191(1)
The Trend toward Fixed Costs
192(1)
Is Labor a Variable or a Fixed Cost?
192(1)
Fixed Costs and the Relevant Range
193(1)
Mixed Costs
194(2)
The Analysis of Mixed Costs
196(10)
Diagnosing Cost Behavior with a Scattergraph Plot
198(3)
The High-Low Method
201(3)
The Least-Squares Regression Method
204(2)
Multiple Regression Analysis
206(1)
The Contribution Format Income Statement
206(22)
Why a New Income Statement Format?
206(1)
The Contribution Approach
207(1)
Summary
207(1)
Review Problem 1: Cost Behavior
208(1)
Review Problem 2: High-Low Method
209(1)
Glossary
210(1)
Appendix 5A: Least-Squares Regression Using Microsoft® Excel
210(2)
Questions
212(1)
Exercises
213(4)
Problems
217(6)
Cases
223(4)
Group and Internet Exercises
227(1)
Cost-Volume-Profit Relationships
228(46)
The Basics of Cost-Volume-Profit (CVP) Analysis
231(4)
Contribution Margin
231(2)
CVP Relationships in Graphic Form
233(1)
Preparing the CVP Graph
233(2)
Contribution Margin Ratio (CM Ratio)
235(1)
Some Applications of CVP Concepts
236(3)
Change in Fixed Cost and Sales Volume
236(1)
Change in Variable Costs and Sales Volume
237(1)
Change in Fixed Cost, Sales Price, and Sales Volume
237(1)
Change in Variable Cost, Fixed Cost, and Sales Volume
238(1)
Change in Regular Sales Price
239(1)
Break-Even Analysis
239(5)
Break-Even Computations
239(1)
The Equation Method
239(1)
The Contribution Margin Method
240(1)
Target Profit Analysis
241(1)
The CVP Equation
241(1)
The Contribution Margin Approach
242(1)
The Margin of Safety
242(2)
CVP Considerations in Choosing a Cost Structure
244(3)
Cost Structure and Profit Stability
244(2)
Operating Leverage
246(1)
Structuring Sales Commissions
247(1)
The Concept of Sales Mix
248(2)
The Definition of Sales Mix
248(1)
Sales Mix and Break-Even Analysis
248(2)
Assumptions of CVP Analysis
250(24)
Summary
251(1)
Review Problem: CVP Relationships
251(3)
Glossary
254(1)
Questions
254(1)
Exercises
255(5)
Problems
260(8)
Cases
268(4)
Group and Internet Exercises
272(2)
Variable Costing: A Tool for Management
274(38)
Overview of Absorption and Variable Costing
276(2)
Absorption Costing
276(1)
Variable Costing
276(1)
Unit Cost Computations
277(1)
Income Comparison of Absorption and Variable Costing
278(2)
Extended Comparison of Income Data
280(4)
Effect of Changes in Production on Net Operating Income
284(4)
Variable Costing
285(1)
Absorption Costing
285(3)
Choosing a Costing Method
288(24)
The Impact on the Manager
288(1)
CVP Analysis and Absorption Costing
289(1)
Decision Making
290(1)
External Reporting and Income Taxes
290(1)
Advantages of Variable Costing and the Contribution Approach
291(1)
Variable Costing and the Theory of Constraints
292(1)
Impact of JIT Inventory Methods
292(1)
Summary
293(1)
Review Problem: Contrasting Variable and Absorption Costing
293(2)
Glossary
295(1)
Questions
295(1)
Exercises
296(4)
Problems
300(6)
Cases
306(4)
Group and Internet Exercises
310(2)
Activity-Based Costing: A Tool to Aid Decision Making
312(64)
How Costs Are Treated under Activity-Based Costing
315(2)
Nonmanufacturing Costs and Activity-Based Costing
315(1)
Manufacturing Costs and Activity-Based Costing
315(1)
Plantwide Overhead Rate
315(1)
Departmental Overhead Rates
316(1)
The Costs of Idle Capacity in Activity-Based Costing
317(1)
Designing an Activity-Based Costing (ABC) System
317(6)
Step 1: Identify and Define Activities and Activity Cost Pools
320(3)
The Mechanics of Activity-Based Costing
323(7)
Step 2: Whenever Possible, Directly Trace Overhead Costs to Activities and Cost Objects
323(1)
Step 3: Assign Costs to Activity Cost Pools
324(3)
Step 4: Calculate Activity Rates
327(1)
Step 5: Assign Costs to Cost Objects
328(2)
Step 6: Prepare Management Reports
330(1)
Comparison of Traditional and ABC Product Costs
330(5)
Product Margins Computed Using the Traditional Cost System
330(1)
The Differences between ABC and Traditional Product Costs
331(4)
Targeting Process Improvements
335(2)
Activity-Based Costing and External Reports
337(1)
The Limitations of Activity-Based Costing
338(38)
Summary
339(1)
Review Problem: Activity-Based Costing
340(1)
Glossary
341(1)
Appendix 8A: ABC Action Analysis
342(8)
Questions
350(1)
Exercises
351(10)
Problems
361(8)
Cases
369(6)
Group and Internet Exercises
375(1)
Profit Planning
376(50)
The Basic Framework of Budgeting
378(9)
Personal Budgets
378(1)
Difference between Planning and Control
378(1)
Advantages of Budgeting
378(1)
Responsibility Accounting
379(1)
Choosing a Budget Period
380(1)
The Self-Imposed Budget
381(1)
Human Factors in Budgeting
382(1)
Zero-Based Budgeting
382(2)
The Budget Committee
384(1)
The Master Budget: An Overview
385(1)
The Sales Budget
385(1)
The Cash Budget
385(1)
Sales Forecasting---A Critical Step
385(2)
Preparing the Master Budget
387(12)
The Sales Budget
389(1)
The Production Budget
390(1)
Inventory Purchases---Merchandising Company
391(1)
The Direct Materials Budget
391(2)
The Direct Labor Budget
393(1)
The Manufacturing Overhead Budget
394(1)
The Ending Finished Goods Inventory Budget
395(1)
The Selling and Administrative Expense Budget
395(1)
The Cash Budget
396(3)
The Budgeted Income Statement
399(3)
The Budgeted Balance Sheet
400(2)
International Aspects of Budgeting
402(24)
Summary
403(1)
Review Problem: Budget Schedules
403(2)
Glossary
405(1)
Questions
406(1)
Exercises
406(2)
Problems
408(13)
Cases
421(4)
Group and Internet Exercises
425(1)
Standard Costs and the Balanced Scorecard
426(64)
Standard Costs---Management by Exception
429(2)
Who Uses Standard Costs?
430(1)
Setting Standard Costs
431(4)
Ideal versus Practical Standards
431(1)
Setting Direct Materials Standards
432(1)
Setting Direct Labor Standards
432(2)
Setting Variable Manufacturing Overhead Standards
434(1)
Are Standards the Same as Budgets?
435(1)
A General Model for Variance Analysis
435(1)
Price and Quantity Variances
435(1)
Using Standard Costs---Direct Materials Variances
436(5)
Materials Price Variance---A Closer Look
438(1)
Isolation of Variances
439(1)
Responsibility for the Variance
439(1)
Materials Quantity Variance---A Closer Look
440(1)
Using Standard Costs---Direct Labor Variances
441(2)
Labor Rate Variance---A Closer Look
441(1)
Labor Efficiency Variance---A Closer Look
442(1)
Using Standard Costs---Variable Manufacturing Overhead Variances
443(2)
Manufacturing Overhead Variances---A Closer Look
443(2)
Variance Analysis and Management by Exception
445(2)
International Uses of Standard Costs
447(1)
Evaluation of Controls Based on Standard Costs
447(2)
Advantages of Standard Costs
447(1)
Potential Problems with the Use of Standard Costs
448(1)
Balanced Scorecard
449(41)
Common Characteristics of Balanced Scorecards
450(2)
A Company's Strategy and the Balanced Scorecard
452(2)
Tying Compensation to the Balanced Scorecard
454(1)
Advantages of Timely and Graphic Feedback
454(2)
Some Measures of Internal Business Process Performance
456(1)
Delivery Cycle Time
456(1)
Throughput (Manufacturing Cycle) Time
456(1)
Manufacturing Cycle Efficiency (MCE)
457(1)
Some Final Observations Concerning the Balanced Scorecard
458(1)
Summary
459(1)
Review Problem: Standard Costs
459(2)
Glossary
461(1)
Appendix 10A: General Ledger Entries to Record Variances
462(2)
Questions
464(1)
Exercises
465(6)
Problems
471(13)
Cases
484(4)
Group and Internet Exercises
488(2)
Flexible Budgets and Overhead Analysis
490(48)
Flexible Budgets
492(6)
Characteristics of a Flexible Budget
492(1)
Deficiencies of the Static Budget
493(1)
How a Flexible Budget Works
494(1)
Using the Flexible Budgeting Concept in Performance Evaluation
495(3)
The Measure of Activity---A Critical Choice
498(1)
Variable Overhead Variances---A Closer Look
498(4)
Actual versus Standard Hours
498(1)
Spending Variance Alone
499(1)
Interpreting the Spending Variance
500(1)
Both Spending and Efficiency Variances
500(1)
Interpreting the Efficiency Variance
500(1)
Control of the Efficiency Variance
501(1)
Activity-Based Costing and the Flexible Budget
502(1)
Overhead Rates and Fixed Overhead Analysis
502(36)
Flexible Budgets and Overhead Rates
502(1)
Denominator Activity
503(1)
Computing the Overhead Rate
504(1)
Overhead Application in a Standard Cost System
505(1)
The Fixed Overhead Variances
505(1)
The Budget Variance---A Closer Look
506(1)
The Volume Variance---A Closer Look
507(1)
Graphic Analysis of Fixed Overhead Variances
508(1)
Cautions in Fixed Overhead Analysis
509(1)
Overhead Variances and Under- or Overapplied Overhead Cost
509(1)
Summary
509(1)
Review Problem: Overhead Analysis
510(2)
Glossary
512(1)
Questions
513(1)
Exercises
513(6)
Problems
519(12)
Cases
531(4)
Group and Internet Exercises
535(3)
Segment Reporting and Decentralization
538(62)
Decentralization in Organizations
540(1)
Advantages and Disadvantages of Decentralization
540(1)
Responsibility Accounting
541(2)
Cost, Profit, and Investment Centers
541(1)
Cost Center
541(1)
Profit Center
541(1)
Investment Center
542(1)
An Organizational View of Responsibility Centers
542(1)
Decentralization and Segment Reporting
543(10)
Building a Segmented Income Statement
543(3)
Levels of Segmented Statements
546(1)
Sales and Contribution Margin
546(2)
Traceable and Common Fixed Costs
548(1)
Identifying Traceable Fixed Costs
548(1)
Activity-Based Costing
548(2)
Traceable Costs Can Become Common Costs
550(1)
Segment Margin
550(2)
Segmented Financial Information on External Reports
552(1)
Hindrances to Proper Cost Assignment
553(2)
Omission of Costs
553(1)
Inappropriate Methods for Assigning Traceable Costs among Segments
554(1)
Failure to Trace Costs Directly
554(1)
Inappropriate Allocation Base
554(1)
Arbitrarily Dividing Common Costs among Segments
554(1)
Evaluating Investment Center Performance---Return on Investment
555(6)
The Return on Investment (ROI) Formula
556(1)
Net Operating Income and Operating Assets Defined
556(1)
Understanding ROI---The DuPont Perspective
556(2)
Example 1: Increased Sales without Any Increase in Operating Assets
558(1)
Example 2: Decreased Operating Expenses with No Change in Sales or Operating Assets
559(1)
Example 3: Decreased Operating Assets with No Change in Sales or Operating Expenses
559(1)
Example 4: Invest in Operating Assets to Increase Sales
560(1)
ROI and the Balanced Scorecard
560(1)
Criticisms of ROI
561(1)
Residual Income
561(39)
Motivation and Residual Income
563(1)
Divisional Comparison and Residual Income
563(2)
Summary
565(1)
Review Problem 1: Segmented Statements
565(1)
Review Problem 2: Return on Investment (ROI) and Residual Income
565(2)
Glossary
567(1)
Appendix 12A: Transfer Pricing
568(6)
Review Problem 3: Transfer Pricing
574(2)
Questions
576(1)
Exercises
576(6)
Problems
582(12)
Cases
594(3)
Group and Internet Exercises
597(3)
Relevant Costs for Decision Making
600(52)
Cost Concepts for Decision Making
601(8)
Identifying Relevant Costs and Benefits
601(1)
Different Costs for Different Purposes
602(1)
An Example of Identifying Relevant Costs and Benefits
602(4)
Reconciling the Total and Differential Approaches
606(2)
Why Isolate Relevant Costs?
608(1)
Adding and Dropping Product Lines and Other Segments
609(4)
An Illustration of Cost Analysis
609(2)
A Comparative Format
611(1)
Beware of Allocated Fixed Costs
611(2)
The Make or Buy Decision
613(2)
Strategic Aspects of the Make or Buy Decision
613(1)
An Example of Make or Buy
614(1)
Opportunity Cost
615(1)
Special Orders
616(2)
Utilization of a Constrained Resource
618(4)
Contribution in Relation to a Constrained Resource
618(2)
Managing Constraints
620(1)
The Problem of Multiple Constraints
621(1)
Joint Product Costs and the Contribution Approach
622(3)
The Pitfalls of Allocation
622(1)
Sell or Process Further Decisions
622(3)
Activity-Based Costing and Relevant Costs
625(27)
Summary
626(1)
Review Problem: Relevant Costs
626(1)
Glossary
627(1)
Questions
628(1)
Exercises
628(6)
Problems
634(8)
Cases
642(8)
Group and Internet Exercises
650(2)
Capital Budgeting Decisions
652(64)
Capital Budgeting---Planning Investments
654(1)
Typical Capital Budgeting Decisions
654(1)
The Time Value of Money
654(1)
Discounted Cash Flows---The Net Present Value Method
655(6)
The Net Present Value Method Illustrated
655(2)
Emphasis on Cash Flows
657(1)
Typical Cash Outflows
657(1)
Typical Cash Inflows
657(1)
Recovery of the Original Investment
658(1)
Simplifying Assumptions
658(1)
Choosing a Discount Rate
659(1)
An Extended Example of the Net Present Value Method
659(2)
Discounted Cash Flows---The Internal Rate of Return Method
661(2)
The Internal Rate of Return Method Illustrated
661(1)
Salvage Value and Other Cash Flows
661(1)
Using the Internal Rate of Return
662(1)
The Cost of Capital as a Screening Tool
662(1)
Comparison of the Net Present Value and the Internal Rate of Return Methods
662(1)
Expanding the Net Present Value Method
663(4)
The Total-Cost Approach
663(2)
The Incremental-Cost Approach
665(1)
Least-Cost Decisions
666(1)
Uncertain Cash Flows
667(2)
An Example
668(1)
Real Options
668(1)
Preference Decisions---The Ranking of Investment Projects
669(1)
Internal Rate of Return Method
669(1)
Net Present Value Method
670(1)
Other Approaches to Capital Budgeting Decisions
670(6)
The Payback Method
671(1)
Evaluation of the Payback Method
671(2)
An Extended Example of Payback
673(1)
Payback and Uneven Cash Flows
674(1)
The Simple Rate of Return Method
674(2)
Criticisms of the Simple Rate of Return
676(1)
Postaudit of Investment Projects
676(40)
Summary
677(1)
Review Problem I: Basic Present Value Computations
678(1)
Review Problem 2: Comparison of Capital Budgeting Methods
679(1)
Glossary
680(1)
Appendix 14A: The Concept of Present Value
681(3)
Appendix 14B: Inflation and Capital Budgeting
684(3)
Appendix 14C: Future Value and Present Value Tables
687(4)
Appendix 14D: Income Taxes in Capital Budgeting Decisions
691(4)
Questions
695(1)
Exercises
696(6)
Problems
702(8)
Cases
710(4)
Group and Internet Exercises
714(2)
Service Department Costing: An Activity Approach
716(32)
Allocations Using the Direct and Step Methods
718(5)
Selecting Allocation Bases
718(1)
Interdepartmental Services
719(1)
Direct Method
720(1)
Step Method
721(1)
Reciprocal Method
722(1)
Revenue Producing Departments
723(1)
Allocating Costs by Behavior
723(4)
Variable Costs
723(1)
Fixed Costs
723(1)
Should Actual or Budgeted Costs Be Allocated?
724(1)
A Summary of Cost Allocation Guidelines
725(1)
Implementing the Allocation Guidelines
725(1)
Base Allocation Techniques
725(2)
Effect of Allocations on Operating Departments
727(1)
An Extended Example
728(1)
Some Cautions in Allocating Service Department Costs
729(19)
Pitfalls in Allocating Fixed Costs
729(2)
Beware of Sales Dollars as an Allocation Base
731(1)
Summary
732(1)
Review Problem: Direct and Step Methods
733(1)
Glossary
734(1)
Questions
734(1)
Exercises
734(4)
Problems
738(5)
Cases
743(3)
Group and Internet Exercises
746(2)
``How Well Am I Doing?'' Statement of Cash Flows
748(38)
The Basic Approach to a Statement of Cash Flows
750(3)
Definition of Cash
750(1)
Constructing the Statement of Cash Flows Using Changes in Noncash Balance Sheet Accounts
751(2)
An Example of a Simplified Statement of Cash Flows
753(3)
Constructing a Simplified Statement of Cash Flows
753(2)
The Need for a More Detailed Statement
755(1)
Organization of the Full-Fledged Statement of Cash Flows
756(2)
Operating Activities
756(1)
Investing Activities
757(1)
Financing Activities
757(1)
Other Issues in Preparing the Statement of Cash Flows
758(1)
Cash Flows: Gross or Net?
758(1)
Operating Activities: Direct or Indirect Method?
758(1)
Direct Exchange Transactions
759(1)
An Example of a Full-Fledged Statement of Cash Flows
759(27)
Eight Basic Steps to Preparing the Statement of Cash Flows
759(2)
Setting Up the Worksheet (Steps 1--4)
761(1)
Adjustments to Reflect Gross, Rather than Net, Amounts (Step 5)
762(2)
Classifying Entries as Operating, Investing, or Financing Activities (Step 6)
764(1)
The Completed Statement of Cash Flows (Steps 7 and 8)
765(1)
Interpretation of the Statement of Cash Flows
765(1)
Depreciation, Depletion, and Amortization
766(1)
Summary
767(1)
Review Problem
768(2)
Glossary
770(1)
Appendix 16A: The Direct Method of Determining the Net Cash Provided by Operating Activities
771(1)
Questions
772(1)
Exercises
773(3)
Problems
776(7)
Group and Internet Exercises
783(3)
``How Well Am I Doing?'' Financial Statement Analysis
786(38)
Limitations of Financial Statement Analysis
788(1)
Comparison of Financial Data
788(1)
The Need to Look beyond Ratios
788(1)
Statement in Comparative and Common-Size Form
789(5)
Dollar and Percentage Changes on Statements
789(1)
Common-Size Statements
789(5)
Ratio Analysis---The Common Stockholder
794(4)
Earnings per Share
794(1)
Price-Earnings Ratio
794(1)
Dividend Payout and Yield Ratios
795(1)
The Dividend Payout Ratio
795(1)
The Dividend Yield Ratio
795(1)
Return on Total Assets
795(1)
Return on Common Stockholders' Equity
796(1)
Financial Leverage
796(1)
Book Value per Share
797(1)
Ratio Analysis---The Short-Term Creditor
798(3)
Working Capital
798(1)
Current Ratio
798(1)
Acid-Test (Quick) Ratio
799(1)
Accounts Receivable Turnover
800(1)
Inventory Turnover
800(1)
Ratio Analysis---The Long-Term Creditor
801(1)
Times Interest Earned Ratio
801(1)
Debt-to-Equity Ratio
802(1)
Summary of Ratios and Sources of Comparative Ratio Data
802(22)
Summary
802(2)
Review Problem: Selected Ratios and Financial Leverage
804(3)
Glossary
807(1)
Questions
807(1)
Exercises
807(5)
Problems
812(12)
Appendix Pricing Products and Services
824(16)
Introduction
825(1)
The Economists' Approach to Pricing
825(5)
Elasticity of Demand
826(1)
The Profit-Maximizing Price
827(3)
The Absorption Costing Approach to Cost-Plus Pricing
830(3)
Setting a Target Selling Price Using the Absorption Costing Approach
830(1)
Determining the Markup Percentage
831(1)
Problems with the Absorption Costing Approach
832(1)
Target Costing
833(7)
Reasons for Using Target Costing
833(1)
An Example of Target Costing
834(1)
Summary
834(1)
Glossary
835(1)
Questions
835(1)
Exercises
835(1)
Problems
836(4)
Appendix Profitability Analysis
840(13)
Introduction
841(1)
Absolute Profitability
841(1)
Relative Profitability
841(3)
Volume Trade-Off Decisions
844(2)
Managerial Implications
846(7)
Summary
847(1)
Glossary
848(1)
Questions
848(1)
Exercises
848(1)
Problems
849(3)
Cases
852(1)
Photo Credits853(1)
Index854

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