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Essentials of Accounting Review

by: Anthony, Robert N.; Breitner, Leslie Pearlman

Essentials of Accounting Review

by: Anthony, Robert N.; Breitner, Leslie Pearlman

ISBN 13:
9780131496958
ISBN 10:
0131496956
Edition: 9th
Format: Paperback
Copyright: 05/30/2006
Publisher: Pearson College Div
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Summary

This book is intended primarily for those who are studying, or who have completed, the programmed text Essentials of Accounting, 9th ed. It contains the complete text of every point made in that book. It can be used either to review the meaning of an accounting term or to review an entire topic. Usually, the easiest way to review a term is to look it up in the Glossary. The Glossary gives a short explanation. If you want to review a whole topic, you can refer to the Table of Contents for the part and section in which the topic is discussed.

Part 1 Basic Concepts

(14)

ELEMENTS OF THE BALANCE SHEET

(1)

ASSETS

(1)

LIABILITIES AND EQUITY

(1)

DUAL-ASPECT CONCEPT

(1)

MONEY-MEASUREMENT CONCEPT

(1)

ENTITY CONCEPT

(1)

GONG-CONCERN CONCEPT

(1)

ASSET-MANAGEMENT CONCEPT

(1)

BALANCE SHEET ITEMS

(1)

ASSETS

(1)

LIABILITIES

(1)

CURRENT RATIO

(1)

EQUITY

(1)

KEY POINTS TO REMEMBER

(2)

Part 2 Balance Sheet Changes; Income Measurement

(16)

CURRENT ASSETS

(1)

NONCURRENT ASSETS

(1)

CURRENT LIABILITIES

(1)

NONCURRENT LIABILITIES

(1)

EQUITY

(1)

BALANCE SHEET CHANGES

(8)

INCOME MEASUREMENT

(3)

KEY POINTS TO REMEMBER

(2)

Part 3 Accounting Records and Systems

(14)

THE ACCOUNT

(2)

RULES FOR INCREASES AND DECREASES

(2)

DEBIT AND CREDIT

(1)

INCOME STATEMENT ACCOUNTS

(1)

THE LEDGER AND THE JOURNAL

(1)

THE CLOSING PROCESS

(3)

A NOTE ON COMPUTERS

(1)

KEY POINTS TO REMEMBER

(3)

Part 4 Revenues and Monetary Assets

(12)

FISCAL YEAR

(1)

ACCRUAL ACCOUNTING

(1)

CONSERVATISM

(1)

MATERIALITY

(1)

REALIZATION

(3)

SERVICE REVENUE

(1)

AMOUNT OF REVENUE

(2)

MONETARY ASSETS

(1)

DAYS' SALES UNCOLLECTED

(1)

KEY POINTS TO REMEMBER

(2)

Part 5 Expense Measurement; The Income Statement

(16)

EXPENSE AND EXPENDITURE

(2)

UNEXPIRED AND EXPIRED COSTS

(1)

MATCHING CONCEPT

(1)

OTHER ASSETS THAT WILL BECOME EXPENSES

(1)

EXPENSES THAT CREATE LIABILITIES

(1)

FRINGE BENEFITS

(1)

RENT EXPENSE

(1)

LOSSES

(1)

SUMMARY OF MATCHING CONCEPT

(1)

AN EXAMPLE OF MATCHING

(4)

THE INCOME STATEMENT

(1)

A PACKAGE OF ACCOUNTING REPORTS

(2)

INCOME STATEMENT PERCENTAGES

(1)

REVIEW OF BASIC CONCEPTS

(1)

KEY POINTS TO REMEMBER

(1)

Part 6 Inventories and Cost of Sales

(14)

FINDING COST OF SALES

(4)

INVENTORY VALUATION: ASSUMPTIONS

(2)

FIRST-IN, FIRST-OUT (FIFO) METHOD

(1)

LAST-IN, FIRST-OUT (LIFO) METHOD

(1)

AVERAGE-COST METHOD

(1)

COMPARISON OF INVENTORY METHODS

(1)

INVENTORY VALUATION: ADJUSTMENT TO MARKET

(1)

INVENTORY IN A MANUFACTURING COMPANY

(2)

PRODUCT COSTS AND PERIOD COSTS

(1)

OVERHEAD RATES

(1)

INVENTORY TURNOVER

(1)

KEY POINTS TO REMEMBER

(2)

Part 7 Noncurrent Assets and Depreciation

(14)

NONCURRENT ASSETS

(1)

ACCOUNTING FOR ACQUISITIONS

(1)

CAPITAL LEASES

(1)

DEPRECIATION

(2)

DEPRECIATION METHODS

(3)

Units-of-Production Depreciation

(1)

Straight-Line Depreciation

(1)

Accelerated Depreciation

(1)

ACCOUNTING FOR DEPRECIATION

(3)

Sale of a Plant Asset

(1)

Significance of Depreciation

(1)

DEPLETION

(1)

INTANGIBLE ASSETS

(1)

KEY POINTS TO REMEMBER

(3)

Part 8 Liabilities and Equity

101

(16)

WORKING CAPITAL

101

(1)

SOURCES OF CAPITAL

102

(1)

DEBT CAPITAL

103

(1)

TYPES OF EQUITY CAPITAL

104

(4)

Common Stock

106

(1)

Preferred Stock

107

(1)

RETAINED EARNINGS AND DIVIDENDS

108

(1)

DISTRIBUTIONS TO SHAREHOLDERS

108

(1)

BALANCE BETWEEN DEBT AND EQUITY CAPITAL

109

(2)

DEBT RATIO

111

(1)

CONSOLIDATED FINANCIAL STATEMENTS

112

(2)

KEY POINTS TO REMEMBER

114

(3)

Part 9 Statement of Cash Flows

117

(16)

CASH FLOW FROM OPERATING ACTIVITIES

120

(1)

ADJUSTMENTS FOR DEPRECIATION EXPENSE

121

(1)

ADJUSTMENTS FOR CHANGES IN WORKING CAPITAL ACCOUNTS

122

(1)

ADJUSTMENTS FOR CHANGES IN CURRENT ASSETS

122

(5)

No Change in Balance

122

(1)

Current Asset Balance Decreased

123

(1)

Current Asset Balance Increases

124

(1)

Analysis with Diagrams

124

(3)

ADJUSTMENTS FOR CHANGES IN CURRENT LIABILITIES

127

(1)

NET EFFECT OF WORKING CAPITAL CHANGES

127

(1)

SUMMARY OF OPERATING ADJUSTMENTS

128

(1)

CASH FLOW FROM INVESTING AND FINANCING ACTIVITIES

129

(1)

Investing Activities

129

(1)

Financing Activities

129

(1)

COMPLETING THE STATEMENT OF CASH FLOWS

130

(1)

USES OF THE STATEMENT OF CASH FLOWS

131

(1)

KEY POINTS TO REMEMBER

131

(2)

Part 10 Analysis of Financial Statements

133

(20)

LIMITATIONS OF FINANCIAL STATEMENT ANALYSIS

133

(1)

AUDITING

134

(1)

OVERALL FINANCIAL MEASURES OF PERFORMANCE

134

(2)

FACTORS AFFECTING RETURN ON EQUITY

136

(3)

TESTS OF CAPITAL UTILIZATION

139

(3)

OTHER MEASURES OF PERFORMANCE

142

(2)

PROFITABILITY MEASUREMENT

144

(1)

TESTS OF FINANCIAL CONDITION

145

(1)

QUALITY OF EARNINGS

145

(4)

THE SARBANES-OXLEY ACT OF 2002

149

(2)

KEY POINTS TO REMEMBER

151

(2)

Part 11 Nonprofit Financial Statements

153

(10)

NONPROFIT ORGANIZATIONS

153

(2)

MISSIONS AND GOALS

155

(1)

NET ASSETS

155

(1)

REVENUES, EXPENSES, AND INVESTMENTS

156

(4)

TRANSFERS

160

(1)

SIMILARITIES TO FINANCIAL STATEMENTS OF FOR-PROFIT ENTITIES

161

(1)

LIMITATION OF RATIO ANALYSIS

161

(1)

KEY POINTS TO REMEMBER

162

(1)

Part 12 Government Accounting

163

(14)

THE NATURE OF GOVERNMENT ACCOUNTING

163

(2)

LEVELS OF GOVERNMENT

165

(1)

ACCOUNTABILITY AND PERFORMANCE

166

(3)

FINANCIAL REPORTING-A MUNICIPALITY

169

(8)

CONCLUDING NOTE

177

(1)

ACKNOWLEDGMENTS

177

(2)

GLOSSARY

179

Amazon no longer offers textbook rentals. We do!

Essentials of Accounting Review

Essentials of Accounting Review

9780131496958

0131496956

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Essentials of Accounting Review

Essentials of Accounting Review

9780131496958

0131496956

Summary

Table of Contents

Supplemental Materials

Write a Review

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