xxiv, 664 pages : 29 cm Includes bibliographical references and index Machine generated contents note: ch. 1 Introduction to Financial Reporting -- Development Of Generally Accepted Accounting Principles (Gaap) In The United States -- American Institute of Certified Public Accountants -- Financial Accounting Standards Board -- Operating Procedure for Statements of Financial Accounting Standards -- FASB Conceptual Framework -- Additional Input -- American Institute Of Certified Public Accountants (Aicpa) -- Emerging Issues Task Force (Eitf) -- A New Reality -- Fasb Accounting Standards Codification[™] (Codification) -- Traditional Assumptions Of The Accounting Model -- Business Entity -- Going Concern or Continuity -- Time Period -- Monetary Unit -- Historical Cost -- Conservatism -- Realization -- Matching -- Consistency -- Full Disclosure -- Materiality -- Industry Practices -- Transaction Approach -- Cash Basis -- Accrual Basis -- Harmonization Of International Accounting Standards Note continued: Financial Reporting Standards For Small And Medium-Sized Entities (Smes) -- Using The Internet -- Companies' Internet Web Sites -- Helpful Web Sites -- Summary -- Questions -- Problems -- Cases -- Case 1-1 Standard Setting: "A Political Aspect" -- Case 1-2 Politicization of Accounting Standards -- A Necessary Act? -- Case 1-3 Independence of Accounting Standard Setters -- Case 1-4 Looking Out for Investors -- Case 1-5 Flying High -- Case 1-6 Centered in Hawaii -- Case 1-7 Continue as a Going Concern -- Case 1-8 Economics and Accounting: The Uncongenial Twins -- Case 1-9 I Often Paint Fakes -- Case 1-10 Oversight -- Case 1-11 Regulation of Smaller Public Companies -- Case 1-12 Stable Funding -- Case 1-13 Rules or Feel? -- Case 1-14 PCAOB Enforcement -- IFRS Standards -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 2 Introduction to Financial Statements and Other Financial Reporting Topics -- Forms Of Business Entities Note continued: The Financial Statements -- Balance Sheet (Statement of Financial Position) -- Statement of Stockholders' Equity (Reconciliation of Stockholders' Equity Accounts) -- Income Statement (Statement of Earnings) -- Statement of Cash Flows (Statement of Inflows and Outflows of Cash) -- Notes -- The Accounting Cycle -- Recording Transactions -- Recording Adjusting Entnes -- Preparing the Financial Statements -- Treadway Commission -- Auditor's Opinion -- Auditor's Report on the Firm's Internal Controls -- Report of Management on Internal Control over Financial Reporting -- Management's Responsibility For Financial Statements -- The Sec's Integrated Disclosure System -- Proxy -- Summary Annual Report -- The Efficient Market Hypothesis -- Ethics -- SEC Requirements -- Code of Ethics -- Consolidated Statements -- Accounting For Business Combinations -- Sec -- Paper Filings -- Edgar -- Xbrl -- Summary -- Questions -- Problems -- Cases -- Case 2-1 The CEO Retires Note continued: Case 2-2 The Dangerous Morality of Managing Earnings -- Case 2-3 Firm Commitment? -- Case 2-4 Multiple Country Enforcement -- Case 2-5 Materiality: In Practice -- Case 2-6 Management's Responsibility -- Case 2-7 Safe Harbor -- Case 2-8 Enforcement -- Case 2-9 Notify the SEC -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 3 Balance Sheet -- Basic Elements Of The Balance Sheet -- Assets -- Liabilities -- Shareholder's or Stockholder's Equity -- Quasi-Reorganization -- Accumulated Other Comprehensive Income -- Employee Stock Ownership Plans (Esops) -- Treasury Stock -- Stockholders' Equity In Unincorporated Firms -- International Consolidated Balance Sheet (Ifrs) -- Summary -- Questions -- Problems -- Cases -- Case 3-1 Convenience Foods -- Case 3-2 World Wide Entertainment -- Case 3-3 Health Care Products -- Case 3-4 Best -- Case 3-5 Our Principal Asset is Our People -- Case 3-6 Brand Value -- Case 3-7 Advertising -- Asset? Note continued: Case 3-8 Telecommunications -- Part I -- Case 3-9 Global Health Care -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 4 Income Statement -- Basic Elements Of The Income Statement -- Net Sales (Revenues) -- Cost of Goods Sold (Cost of Sales) -- Other Operating -- Revenue -- Operating Expenses -- Other Income or Expense -- Special Income Statementitems -- (A) Unusual or Infrequent Item Disclosed Separately -- (B) Equity in Eamings of Nonconsolidated Subsidiaries -- Income Taxes Related To Operations -- (C) Discontinued Operations -- (D) Extraordinary Items -- (E) Change in Accounting Principle -- (F) Net Income -- Noncontrolling Interest (previously minority share of earmings) -- Earnings Per Share -- Retained Earnings -- Dividends And Stock Splits -- Legality Of Distributions To Stockholders -- Comprehensive Income -- International Consolidated Income Statement (Ifrs) Note continued: International GAAP Holdings Limited Financial statements for the year ended 31 December 2011 -- Summary -- Questions -- Problems -- Cases -- Case 4-1 Homebuilders -- Case 4-2 Communication Products -- Case 4-3 Apparel Companies -- Case 4-4 The Big Order -- Case 4-5 Celtics -- Case 4-6 Homebuilding -- Case 4-7 Telecommunications -- Part 2 -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 5 Basics of Analysis -- Ratio Analysis -- Common-Size Analysis (Vertical And Horizontal) -- Year-To-Year Change Analysis -- Financial Statement Variation By Type Of Industry -- Review Of Descriptive Information -- Comparisons -- Trend Analysis -- Standard Industrial Classification (SIC) Manual -- North American Industry Classification System (NAICS) -- Industry Averages and Comparison with Competitors -- Caution in Using Industry Averages -- Relative Size Of Firm -- Other Library Sources -- Ward's Business Directory Note continued: Standard & Poor's Stock Reports -- Standard & Poor's Register of Corporations, Directors, and Executives -- Standard & Poor's Analyst's Handbook -- Standard & Poor's Standard Corporation -- Descriptions, Plus News (Corporation Records) -- Standard & Poor's Security Owner's Stock Guide -- Standard & Poor's Statistical Service -- Standard & Poor's Net -- Advantage -- Mergent Dividend Record and Standard & Poor's Annual Dividend Record -- D&B® Million Dollar Directory® -- Directory of Corporate -- Affiliations[™] -- Thomas Register of American Manufacturers -- Mergent -- Industrial Manual and News Reports -- D&B Reference Book of Corporate -- Managements -- Compact Disciosure -- Lexis-Nexis -- The Users Of Financial Statements -- Summary -- Questions -- Problems -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 6 Liquidity of Short-Term Assets; Related Debt-Paying Ability Note continued: Current Assets, Current Liabilities, And The Operating Cycle -- Cash -- Marketable Securities -- Receivables -- Inventories -- Prepayments -- Other -- Current Assets -- Current Liabilities -- Current Assets Compared With Current Liabilities -- Working Capital -- Current Ratio -- Acid-Test Ratio (Quick Ratio) -- Cash Ratio -- Other Liquidity Considerations -- Sales to Working Capital (Working Capital Turnover) -- Liquidity Considerations Not on the Face of the Statements -- Summary -- Questions -- Problems -- Cases -- Case 6-1 Strength of Steel -- Case 6-2 Rising Prices, A Time to Switch Off LIFO? -- Case 6-3 Imaging -- Case 6-4 Technology -- Case 6-5 Booming Retail -- Case 6-6 Greetings -- Case 6-7 LIFO -- Tax, US. GAAP and IFRS Implications -- Case 6-8 Specialty Retailer -- Liquidity Review -- Case 6-9 Eat at My Restaurant -- Liquidity Review -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 7 Long-Term Debt-Paying Ability Note continued: Income Statement Consideration When Determining Long-Term Debt-Paying Ability -- Times Interest Earned -- Fixed Charge Coverage -- Balance Sheet Consideration When Determining Long-Term Debt-Paying Ability -- Debt Ratio -- Debt/Equity Ratio -- Debt to Tangible Net Worth Ratio -- Other Long-Term Debt-Paying Ability Ratios -- Special Items That Influence A Firm's Long-Term Debt-Paying Ability -- Long-Term Assets versus Long-Term Debt -- Long-Term Leasing -- Pension Plans -- Postretirement Benefits Other Than Pensions -- Joint Ventures -- Contingencies -- Financial Instruments With Off-Balance-Sheet Risk And Financial Instruments With Concentrations Of Credit Risk -- Disclosures About Fair Value Of Financial Instruments -- Summary -- Questions -- Problems -- Cases -- Case 7-1 Outsourced Services -- Case 7-2 Global Provider -- Case 7-3 Committed to Saving People Money -- Case 7-4 Lockout -- Case 7-5 Safe -- Many Employers Note continued: Case 7-6 Safe -- Retirement Benefits -- Case 7-7 Specialty Coffee -- Case 7-8 Transaction Printers -- Case 7-9 Ready-to-Eat -- Case 7-10 Specialty Retailer -- Debt View -- Case 7-11 Eat at My Restaurant -- Debt View -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 8 Profitability -- Profitability Measures -- Net Profit Margin -- Total Asset Turnover -- Return on Assets -- DuPont Return on Assets -- Interpretation Through DuPont Analysis -- Variation in Computation of DuPont Ratios Considering Only Operating Accounts -- Operating Income Margin -- Operating Asset Turnover -- Return on Operating Assets -- Sales to Fixed Assets -- Return on Investment (ROI) -- Return on Total Equity -- Return on Common Equity -- The Relationship Between Profitability Ratios -- Gross Profit Margin -- Trends In Profitability -- Segment Reporting -- Revenues By Major Product Lines -- Gains And Losses From Prior Period Adjustments -- Comprehensive Income Note continued: Pro-Forma Financial Information -- Interim Reports -- Summary -- Questions -- Problems -- Cases -- Case 8-1 Jeff's Self-Service Station -- Case 8-2 Diversified Manufacturer -- Case 8-3 Leading Roaster -- Case 8-4 Certified Organic -- Case 8-5 Digital Media -- Case 8-6 Return on Assets -- Industry Companson -- Case 8-7 Name the Industry -- Case 8-8 Specialty Retailer -- Profitability View -- Case 8-9 Eat at My Restaurant -- Profitability View -- Case 8-10 Eat at My Restaurant -- Profitability View -- Comprehensive income included -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 9 For the Investor -- Leverage And Its Effects On Earnings -- Definition of Financial Leverage and Magnification Effects -- Computing the Degree of Financial Leverage -- Summary of Financial Leverage -- Earnings Per Common Share -- Price/Earnings Ratio -- Percentage Of Earnings Retained -- Dividend Payout -- Dividend Yield -- Book Value Per Share Note continued: Stock Options (Stock-Based Compensation) -- Restricted Stock -- Stock Appreciation Rights -- Summary -- Questions -- Problems -- Cases -- Case 9-1 Forest Products -- Case 9-2 Integrated Electronics -- Case 9-3 Global Diversified Financial Services -- Case 9-4 Family Style -- Case 9-5 Delicious Apple -- Case 9-6 Specialty Retailer -- Investor View -- Case 9-7 Eat at My Restaurant -- Investor View -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 10 Statement of Cash Flows -- Basic Elements Of The Statement Of Cash Flows -- Financial Ratios And The Statement Of Cash Flows -- Operating Cash -- Flow/Current Maturities of Long-Term Debt and Current Notes Payable -- Operating Cash Flow/Total Debt -- Operating Cash Flow per Share -- Operating Cash Flow/Cash Dividends -- Alternative Cash Flow -- Procedures For Development Of The Statement Of Cash Flows -- Summary -- Questions -- Problems -- Cases -- Case 10-1 Travel Company Note continued: Case 10-2 Cash Flow -- The Direct Method -- Case 10-3 Web Site -- Case 10-4 The Retail Mover -- Case 10-5 Noncash Changes -- Case 10-6 Cash Movements and Penodic Income Determination -- Case 10-7 The Big.Com -- Case 10-8 Glass Containers -- Case 10-9 Specialty Retailer -- Case 10-10 Eat At My Restaurant-Cash Flow -- Web Case: Thomson One Business School Edition -- To The Net Case -- Summary Analysis Nike, Inc. (Includes 2011 Financial Statements of Form 10-K) -- Nike-Background Information -- Management's Discussion and Analysis of Financial Condition and Results of Operations (See 10-K, Item 7, In Part) -- Vertical Common-Size Statement of Income (Exhibit 1) -- Honzontal Common-Size Statement of Income (Exhibit 2) -- Three-Year Ratio Companison Exhibit 3) -- Ratio Companison with Selected Competitor (Exhibit 4) Selected Competitor -- Ratio Companison with Industry (Exhibit 5) -- Summary -- Nike 2011 (Exhibit 12-1) -- ch. 11 Expanded Analysis Note continued: Financial Ratios As Perceived By Commericial Loan Departments -- Most Significant Ratios and Their Primary Measure -- Ratios Appearing Most Frequently in Loan Agreements -- Financial Ratios As Perceived By Corporate Controllers -- Most Significant Ratios and Their Primary Measure -- Key Financial Ratios Included as Corporate Objectives -- Financial Ratios As Perceived By Certified Public Accountants -- Financial Ratios As Perceived By Chartered Financial Analysts -- Financial Ratios Used In Annual Reports -- Degree Of Conservatism And Quality Of Erarnings -- Inventory -- Fixed Assets -- Intangible Assets -- Pensions -- Forecasting Financial Failure -- Univariate Model -- Multivariate Model -- Nike Z Score -- Analytical Review Procedures -- Managements Use Of Analysis -- Use Of Lifo Reserves -- Note 4 -- Inventories -- Graphing Financial Information -- Management Of Earnings -- The Housing Bust -- Valuation -- Multiples Note continued: Multiperiod Discounted Valuation Models -- What They Use -- International Aspects -- Valuation as Seen by Management Consultants -- From Page V -- Dot.coms -- Case 11-1 Smoke and Smokeless -- Case 11-2 Accounting Hocus-Pocus -- Case 11-3 Turn a Cheek -- Case 11-4 Books Unlimited -- Part 1 -- Case 11-5 Books Unlimited -- Part 2 -- Case 11-6 Value -- Nike, Inc. -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 12 Special Industries: Banks, Utilities, Oil and Gas, Transportation, Insurance, and Real Estate Companies -- Banks -- Balance Sheet -- Liabilities -- Shareholders' Equity -- Income Statement -- Ratios for Banks -- Regulated Utilities -- Financial Statements -- Ratios for Regulated Utilities -- Oil And Gas -- Successful-Efforts versus Full-Costing Methods -- Supplementary Information on Oil and Gas Exploration, Development, and Production Activities -- Cash Flow -- Transportation -- Financial Statements -- Ratios -- Insurance Note continued: Balance Sheet Under GAAP -- Assets -- Assets -- Other than Investments -- Income Statement Under GAAP -- Ratios -- Real Estate Companies -- Summary -- Questions -- Problems -- Cases -- Case 12-1 AFUDC Equity and Debt -- Case 12-2 Results of Operations for Oil and Gas Producing Activities -- Case 12-3 Financial Services Provider -- Case 12-4 Attracting Deposits -- Case 12-5 Covered -- Web Case: Thomson One Business School Edition -- To The Net Case -- ch. 13 Personal Financial Statements and Accounting for Governments and Not-for-Profit Organizations -- Personal Financial Statements -- Form of the Statements -- Suggestions for Reviewing the Statement of Financial Condition -- Suggestions for Reviewing the Statement of Changes in Net Worth -- Illustration of Preparation of the Statement of Financial Condition -- Illustration of Preparation of the Statement of Changes in Net Worth -- Accounting For Governments Note continued: Accounting For Not-For-Profit Organizations Other Than Governments -- 1.SFAS No. 93, "Recognition of Depreciation By Not-for-Profit Organizations" -- 2.SFAS No. 116, "Accounting for Contributions Received and Contributions Made" -- 3.SFAS No. 117, "Financial Statements of Not-for-Profit Organizations" -- 4.SFAS No. 124, "Accounting for Certain Investments Held By Not-for-Profit Organizations" -- Applicability of GAAP to Not-for-Profit Organizations -- Budgeting by Objectives and/or Measures of Productivity -- Summary -- Questions -- Problems -- Cases -- Case 13-1 Deficit Budget? -- Case 13-2 My Mud Hens -- Case 13-3 Jeep -- Case 13-4 Governor Lucas -- This Is Your County -- Case 13-5 County-Wide -- To The Net Case