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Understanding Financial Statements

ISBN: 9780136191155 | 0136191150
Edition: 5th
Format: Paperback
Publisher: Prentice Hall Professional Technical Reference
Pub. Date: 11/1/1997

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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(2)
Acknowledgmentsxiii
CHAPTER 1 Financial Statements: An Overview
1(48)
Map or Maze
... MORE1(3)
Organization
2(2)
Usefulness
4(1)
Volume of Information
4(12)
The Financial Statements
5(1)
Notes to the Financial Statements
5(4)
Auditor's Report
9(5)
Other Required Information
14(1)
Pandora (a.k.a. "PR Fluff")
15(1)
Complexity
16(7)
Alphabet Soup
16(2)
Mythical Mountain
18(5)
Quality of Financial Reporting
23(5)
Accounting Policies, Estimates -- Choices and Changes
23(2)
Timing of Revenue and Expense Recognition
25(1)
Discretionary Items
26(1)
Nonrecurring and Nonoperating Items
27(1)
Impact of Inflation
28(3)
Missing and Hard-to-Find Information
31(2)
Self-Test
33(3)
Study Questions and Problems
36(1)
La-Z-Boy Mini-Case
37(5)
Chambers Development Company, Inc. Mini-Case
42(7)
CHAPTER 2 The Balance Sheet
49(37)
Financial Condition
49(1)
Consolidation
50(1)
Balance Sheet Date
50(1)
Comparative Data
50(1)
Assets
50(11)
Current Assets
50(2)
Cash and Marketable Securities
52(1)
Accounts Receivable
53(2)
Inventories
55(1)
Inventory Accounting Methods
56(2)
Prepaid Expenses
58(1)
Property, Plant, and Equipment
59(2)
Other Assets
61(1)
Liabilities
61(6)
Current Liabilities
61(1)
Accounts Payable
62(1)
Notes Payable
62(1)
Current Maturities of Long-Term Debt
63(1)
Accrued Liabilities
63(1)
Unearned Revenue or Deferred Credits
63(1)
Deferred Federal Income Taxes
64(2)
Long-Term Debt
66(1)
Other Liabilities
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(4)
Study Questions and Problems
73(2)
Intel Corporation Mini-Case
75(5)
The Rival Company Mini-Case
80(6)
CHAPTER 3 The Income Statement and Statement of Retained Earnings
86(28)
The Income Statement
87(9)
Net Sales
89(1)
Cost of Goods Sold
90(1)
Gross Profit
91(1)
Operating Expense
91(1)
Depreciation and Amortization
92(1)
Operating Profit
93(1)
Other Income (Expense)
94(1)
Earnings Before Income Taxes
94(1)
Net Earnings
95(1)
Earnings per Common Share
95(1)
The Statement of Retained Earnings
96(1)
Statement of Shareholders' Equity
97(2)
Other Issues -- Cost vs. Equity Method
99(1)
Earnings Quality, Inflation, Cash Flow, Segmental Accounting
100(1)
Self-Test
101(4)
Study Questions and Problems
105(2)
Time Warner Mini-Case
107(3)
IBM Corporation Mini-Case
110(4)
CHAPTER 4 Statement of Cash Flows
114(36)
Preparing a Statement of Cash Flows
116(5)
Calculating Cash Flow from Operating Activities
121(4)
Direct Method
121(2)
Indirect Method
123(2)
Cash Flow from Investing Activities
125(1)
Cash Flow from Financing Activities
125(1)
Change in Cash
126(1)
Analyzing the Statement of Cash Flows
126(7)
Cash Flow from Operations
126(2)
Nocash Corporation
128(2)
Help from a Statement of Cash Flows
130(1)
Summary Analysis of the Statement of Cash Flows
131(2)
Supplement to Chapter 4: Adjusting Net Income from Accrual to Cash -- An Illustration
133(2)
Self-Test
135(4)
Study Questions and Problems
139(6)
PetsMart Mini-Case
145(2)
Royal Appliance Mfg. Co. and Subsidiaries Mini-Case
147(3)
CHAPTER 5 The Analysis of Financial Statements
150(63)
Objectives of the Analysis
150(1)
Sources of Information
151(2)
Auditor's Report
151(1)
Management's Discussion and Analysis
152(1)
Supplementary Schedules
152(1)
Form 10-K and Form 10-Q
152(1)
Other Sources
152(1)
Tools and Techniques
153(14)
Common Size Financial Statements
154(2)
Key Financial Ratios
156(1)
Liquidity Ratios: Short-Term Solvency
157(3)
Activity Ratios: Asset Liquidity, Asset Management Efficiency
160(3)
Leverage Ratios: Debt Financing and Coverage
163(2)
Profitability Ratios: Overall Efficiency and Performance
165(2)
Analyzing the Data
167(14)
Background: Economy, Industry, and Firm
168(1)
Short-Term Liquidity
169(2)
Net Trade Cycle
171(1)
Capital Structure and Long-Term Solvency
172(1)
Example of Financial Leverage
172(3)
Operating Efficiency and Profitability
175(2)
Ratio Analysis Summary
177(1)
Projections, Pro Formas, and Market Ratios
178(2)
Summary of Analysis
180(1)
Map
181(1)
Self-Test
181(5)
Study Questions and Problems
186(14)
First Team Sports, Inc. Mini-Case
200(7)
L.A. Gear, Inc. Mini-Case
207(6)
Appendixes213(48)
A A Guide to Earnings Quality213(14)
B The Analysis of Segmental Data227(8)
C Understanding Bank Financial Statements235(10)
D Solutions to Self-Tests245(2)
E Summary of Financial Ratios247(2)
F Glossary249(12)
Index261

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