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Understanding Financial Statements

ISBN: 9780131878563 | 0131878565
Edition: 9th
Format: Paperback
Publisher: Prentice Hall
Pub. Date: 1/1/2010

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SummaryTable of Contents
A supplementary text for a variety of Business courses, including Financial Statement Analysis, Principles of Financial Accounting, Intermediate Accounting, Investments, Personal Finance, and Financial Planning and Analysis. Understanding Financial Statements, retains its reputation for readability, concise coverage, and accessibility while incorporating the many new requirements and changes in accounting reporting and standards. The text gives students the conceptual background and analytical tools necessary to understand and interpret busines... MORE
Prefacexi
Uses for the Eighth Editionxv
Features of the Eighth Editionxvii
Acknowledgmentsxix
About the Authorsxxi
... MOREFinancial Statements: An Overview
1(43)
Map or Maze
1(2)
Usefulness
3(1)
Volume of Information
3(17)
Where to Find a Company's Financial Statements
5(1)
The Financial Statements
6(2)
Notes to the Financial Statements
8(5)
Auditor's Report
13(3)
Management Discussion and Analysis
16(2)
Five-Year Summary of Selected Financial Data and Market Data
18(1)
Pandora (A.K.A. ``PR Fluff'')
18(1)
Proxy Statement
19(1)
Missing and Hard-to-Find Information
20(1)
Complexities
21(3)
A Global Marketplace
21(1)
Mythical Mountain
22(1)
Other Discretionary Issues
23(1)
More Complications
24(1)
Quality of Financial Reporting
25(5)
Accounting Policies, Estimates---Choices and Changes
26(1)
Timing of Revenue and Expense Recognition
27(1)
Discretionary Items
27(2)
Nonrecurring and Nonoperating Items
29(1)
The Journey Through the Maze Continues
30(1)
Self-Test
30(3)
Study Questions and Problems
33(3)
Case 1.1 The Walt Disney Company
36(4)
Case 1.2 Ultimate Electronics, Inc.
40(4)
The Balance Sheet
44(43)
Financial Condition
44(4)
Consolidation
45(1)
Balance Sheet Date
45(1)
Comparative Data
45(1)
Common-Size Balance Sheet
45(3)
Assets
48(10)
Current Assets
48(1)
Cash and Marketable Securities
48(2)
Accounts Receivable
50(2)
Inventories
52(1)
Inventory Accounting Methods
53(2)
Prepaid Expenses
55(1)
Property, Plant, and Equipment
55(2)
Other Assets
57(1)
Liabilities
58(9)
Current Liabilities
58(1)
Accounts Payable
58(1)
Notes Payable
59(1)
Current Maturities of Long-Term Debt
59(1)
Accrued Liabilities
60(1)
Unearned Revenue or Deferred Credits
60(1)
Deferred Federal Income Taxes
61(4)
Long-Term Debt
65(1)
Capital Lease Obligations
65(1)
Postretirement Benefits Other Than Pensions
65(1)
Commitments and Contingencies
66(1)
Hybrid Securities
66(1)
Stockholders' Equity
67(2)
Common Stock
67(1)
Additional Paid-In Capital
67(1)
Retained Earnings
67(1)
Other Equity Accounts
68(1)
Other Balance Sheet Items
69(1)
Self-Test
69(5)
Study Questions and Problems
74(5)
Case 2.1 Lucent Technologies
79(2)
Case 2.2 1-800 Contacts, Inc.
81(6)
Income Statement and Statement of Stockholders' Equity
87(30)
The Income Statement
88(15)
Common-Size Income Statement
90(1)
Net Sales
91(1)
Cost of Goods Sold
91(1)
Gross Profit
92(1)
Operating Expense
93(1)
Depreciation and Amortization
94(2)
Operating Profit
96(1)
Other Income (Expense)
96(1)
Equity Earnings
97(2)
Earnings Before Income Taxes/Effective Tax Rate
99(1)
Special Items
100(1)
Net Earnings
101(1)
Earnings Per Common Share
101(1)
Comprehensive Income
101(2)
The Statement of Stockholders' Equity
103(1)
Earnings Quality, Cash Flow, Segmental Accounting
104(1)
Self-Test
105(3)
Study Questions and Problems
108(4)
Case 3.1 Dillard's Inc.
112(3)
Case 3.2 Applied Materials
115(2)
Statement of Cash Flows
117(35)
Preparing a Statement of Cash Flows
119(4)
Calculating Cash Flow from Operating Activities
123(2)
Indirect Method
123(2)
Cash Flow from Investing Activities
125(1)
Cash Flow from Financing Activities
126(1)
Change in Cash
126(1)
Analyzing the Statement of Cash Flows
127(3)
Cash Flow from Operations
127(1)
Nocash Corporation
128(2)
R.E.C. Inc.: Analysis of the Statement of Cash Flows
130(4)
R.E.C. Inc. Analysis: Cash Flow from Operating Activities
130(2)
Summary Analysis of the Statement of Cash Flows
132(1)
Analysis of Cash Inflows
132(1)
Analysis of Cash Outflows
133(1)
Are We There Yet?
134(1)
Self-Test
134(4)
Study Questions and Problems
138(6)
Case 4.1 PetMed Express, Inc.
144(2)
Case 4.2 Candela Corporation
146(6)
Appendix 4A Statement of Cash Flows---Direct Method
148(1)
Direct Method
148(4)
A Guide to Earnings and Financial Reporting Quality
152(40)
Using the Checklist
154(20)
Sales or Revenues
154(5)
Cost of Goods Sold
159(2)
Operating Expenses
161(7)
Nonoperating Revenue and Expense
168(5)
Other Issues
173(1)
What Are the Real Earnings?
174(1)
Quality of Financial Reporting---The Balance Sheet
175(1)
Quality of Financial Reporting---The Statement of Cash Flows
175(2)
Self-Test
177(3)
Study Questions and Problems
180(2)
Case 5.1 Nortel Networks Corporation
182(6)
Case 5.2 FindWhat.com, Inc.
188(4)
The Analysis of Financial Statements
192(64)
Objectives of Analysis
192(1)
Sources of Information
193(3)
Proxy Statement
194(1)
Auditor's Report
194(1)
Management Discussion and Analysis
194(1)
Supplementary Schedules
194(1)
Form 10-K and Form 10-Q
194(1)
Other Sources
195(1)
Tools and Techniques
196(15)
Common-Size Financial Statements
197(1)
Key Financial Ratios
197(1)
Liquidity Ratios: Short-Term Solvency
198(4)
Cash Conversion Cycle or Net Trade Cycle
202(1)
Activity Ratios: Asset Liquidity, Asset Management Efficiency
203(1)
Leverage Ratios: Debt Financing and Coverage
204(3)
Profitability Ratios: Overall Efficiency and Performance
207(2)
Market Ratios
209(2)
Analyzing the Data
211(13)
Background: Economy, Industry, and Firm
212(1)
Short-Term Liquidity
213(2)
Operating Efficiency
215(1)
Capital Structure and Long-Term Solvency
215(4)
Profitability
219(1)
Relating the Ratios---The Du Pont System
220(1)
Projections and Pro Forma Statements
221(1)
Summary of Analysis
222(2)
Self-Test
224(5)
Study Questions and Problems
229(6)
Case 6.1 Action Performance Companies, Inc.
235(7)
Case 6.2 Taser International, Inc.
242(14)
Appendix 6A The Analysis of Segmental Data
249(7)
APPENDIXES
256(13)
A Summary of Financial Ratios
256(3)
B Solutions to Self-Tests
259(2)
C Glossary
261(8)
Index269

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