Advanced financial accounting:
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York, NY u.a.
MacGraw-Hill
1993
|
| Ausgabe: | 2. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXVI, 1286 S. graph. Darst. |
| ISBN: | 0070034478 |
Internformat
MARC
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| 100 | 1 | |a Baker, Richard E. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Advanced financial accounting |c Richard E. Baker ; Valdean C. Lembke ; Thomas E. King |
| 250 | |a 2. ed. | ||
| 264 | 1 | |a New York, NY u.a. |b MacGraw-Hill |c 1993 | |
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Datensatz im Suchindex
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| adam_text | CONTENTS Preface xx
1 Corporate Expansion and Accounting for Business Combinations 1
THE DEVELOPMENT OF MULTICORPORATE ENTITIES 2
Reasons for Corporate Expansion 2
Forms of Corporate Expansion 2
Frequency of Business Combinations and Multicorporate Entities 5
EXPANSION THROUGH BUSINESS COMBINATIONS 5
Types of Business Combinations 5
Methods of Effecting Business Combinations 6
Valuation of Business Entities 8
ACCOUNTING AND REPORTING ALTERNATIVES 9
PURCHASE ACCOUNTING 11
Nature of Purchase Treatment 11
Determining the Purchase Price 11
Combination Effected through Purchase of Net Assets 12
Combination Effected through Purchase of Stock 17
Financial Reporting Subsequent to a Purchase 18
Disclosure Requirements 18
POOLING OF INTERESTS ACCOUNTING 19
Nature of Pooling Treatment 20
Distinguishing Characteristics of Pooling 21
Combination Effected through Acquisition of Net Assets 22
Differences in Total Par Value 24
Combination Effected through Acquisition of Stock 27
Financial Reporting Subsequent to a Pooling 28
Disclosure Requirements 29
SUMMARY ILLUSTRATION OF PURCHASE AND POOLING ACCOUNTING 30
Purchase Accounting 30
Pooling of Interests Accounting 31
Earnings Subsequent to Combination 33
iu
CONTENTS V ^
ADDITIONAL CONSIDERATIONS—CRITERIA FOR POOLING OF INTERESTS 34
Attributes of the Combining Companies 34
Manner of Combining Interests 35
Absence of Planned Transactions 37
SUMMARY OF KEY CONCEPTS AND TERMS 38
2 Reporting Intercorporate Investments in Common Stock 63
METHODS OF REPORTING INVESTMENTS IN COMMON STOCK 63
THE COST METHOD 65
Accounting Procedures under the Cost Method 65
Declaration of Dividends in Excess of Earnings since Acquisition 66
Acquisition at Interim Date 67
Changes in the Number of Shares Held 68
THE EQUITY METHOD 68
Use of the Equity Method 68
Investor s Equity in the Investee 69
Recognition of Income 70
Recognition of Dividends 70
Carrying Amount of the Investment 71
Acquisition at Interim Date 72
Difference between Cost of Investment and Underlying
Book Value 72
Changes in the Number of Shares Held 76
THE COST AND EQUITY METHODS COMPARED 78
EVALUATION OF THE COST AND EQUITY METHODS 79
VALUATION OF INTERCORPORATE EQUITY INVESTMENTS 82
Declines in Value That Are Other than Temporary 83
Marketable Equity Securities 83
Valuation of Equity Investments Illustrated 84
ADDITIONAL CONSIDERATIONS RELATING TO THE EQUITY METHOD 86
Determination of Significant Influence 86
Unrealized Intercompany Profits 87
Additional Requirements of APB 18 89
Tax Allocation Procedures 89
Accounting for Investments in Subsidiaries 93
Accounting for Investments under Pooling of Interests Procedures 93
SUMMARY OF KEY CONCEPTS AND TERMS 97
3 The Reporting Entity and Consolidated Financial Statements 122
USEFULNESS OF CONSOLIDATED FINANCIAL STATEMENTS 123
Long Term Investors 123
Parent Company Management 124
Other Interested Parties 124
LIMITATIONS OF CONSOLIDATED FINANCIAL STATEMENTS 125
Vi CONTENTS
SUBSIDIARY FINANCIAL STATEMENTS 125
THE CONSOLIDATED REPORTING DECISION:
CONCEPTS AND STANDARDS 126
Controlling Financial Interest 126
Ability to Exercise Control 127
Permanence of Control 128
Differences in Fiscal Periods and Accounting Methods 128
Consolidated Financial Statements and Securities Regulations 128
The Changing Concept of the Reporting Entity 128
Control 129
Homogeneity of Operations 129
OVERVIEW OF THE CONSOLIDATION PROCESS 130
THE CONSOLIDATION PROCESS ILLUSTRATED 131
The Consolidated Entity 132
Mechanics of the Consolidation Process 136
NONCONTROLLING INTEREST 137
EFFECT OF PURCHASE VERSUS POOLING
ACCOUNTING ON CONSOLIDATION 138
COMBINED FINANCIAL STATEMENTS 139
ADDITIONAL CONSIDERATIONS—THEORIES OF CONSOLIDATION 140
Proprietary Theory 140
Parent Company Theory 142
Entity Theory 143
Current Practice 144
SUMMARY OF KEY CONCEPTS AND TERMS 144
APPENDIX A: THEORIES OF CONSOLIDATION ILLUSTRATED 145
ILLUSTRATION OF THE EFFECTS OF DIFFERENT APPROACHES 148
NET ASSETS RECOGNIZED AT ACQUISITION 149
ELIMINATION OF UNREALIZED PROFITS 149
CONSOLIDATED NET INCOME 150
NONCONTROLLING INTEREST 150
APPENDIX B: ACCOUNTING FOR INTERCORPORA TE INVESTMENTS 151
4 Consolidation as of the Date of Acquisition 168
CONSOLIDATION WORKPAPERS 169
Workpaper Format 169
Nature of Eliminating Entries 170
PREPARATION OF CONSOLIDATED BALANCE SHEET
IMMEDIATELY FOLLOWING ACQUISITION OF FULL OWNERSHIP 170
Full Ownership Purchased at Book Value 171
Full Ownership Purchased at More than Book Value 175
Treatment of a Positive Differential 176
Illustration of Treatment of Debit Differential 180
CONTENTS VH
Full Ownership Purchased at Less than Book Value 183
Illustration of Treatment of Credit Differential 184
Ownership Purchased at More than Book
Value and Less than Fair Value 186
PREPARATION OF CONSOLIDATED BALANCE SHEET IMMEDIATELY
FOLLOWING ACQUISITION OF CONTROLLING INTEREST 186
Controlling Ownership Purchased at Book Value 187
Controlling Ownership Purchased at More than Book Value 189
Illustration of Treatment of Debit Differential 189
Controlling Ownership Purchased at Less than Book Value 192
Effect of Cost versus Equity on Consolidation 192
Intercorporate Receivables and Payables 192
ADDITIONAL CONSIDERATIONS 193
Asset and Liability Valuation Accounts at Acquisition 193
Negative Retained Earnings of Subsidiary at Acquisition 195
Other Stockholders Equity Accounts 195
Push Down Accounting 196
SUMMARY OF KEY CONCEPTS AND TERMS 197
5 Consolidation following Acquisition 217
OVERVIEW OF THE CONSOLIDATION PROCESS 217
Consolidated Net Income 218
Consolidated Retained Earnings 219
Workpaper Format 222
CONSOLIDATION—100 PERCENT OWNERSHIP 223
Year of Combination 224
Second and Subsequent Years of Ownership 228
CONSOLIDATION—CONTROLLING OWNERSHIP
PURCHASED AT BOOK VALUE 231
Year of Combination 231
Second Year of Ownership 235
CONSOLIDATION—CONTROLLING OWNERSHIP
PURCHASED AT MORE THAN BOOK VALUE 237
Year of Combination 238
Second Year of Ownership 244
CONSOLIDATION FOLLOWING AN INTERIM ACQUISITION 249
Parent Company Entries 251
Consolidation Workpaper 251
DISCONTINUANCE OF CONSOLIDATION 254
ADDITIONAL CONSIDERATIONS RELATING TO THE
ASSIGNMENT OF DIFFERENTIAL 255
Disposal of Differential Related Assets by Subsidiary 255
Differential Assigned to Liabilities 257
SUMMARY OF KEY CONCEPTS AND TERMS 258
viii contents
APPENDIX A: CONSOLIDATION AND THE COST METHOD 259
IMPACT ON THE CONSOLIDATION PROCESS 259
CONSOLIDATION—YEAR OF COMBINATION 259
Parent Company Cost Method Entries 259
Consolidation Workpaper—Year of Combination 260
CONSOLIDATION—SECOND YEAR OF OWNERSHIP 262
Parent Company Cost Method Entry 262
Consolidation Workpaper—Second Year following Combination 263
Consolidated Retained Earnings 266
APPENDIX B: PUSH DOWN ACCOUNTING ILLUSTRATED 267
WORKPAPER REVALUATION 267
PUSH DOWN ACCOUNTING 268
6 Intercorporate Transfers: Noncurrent Assets 301
OVERVIEW OF THE CONSOLIDATED ENTITY 301
Elimination of Intercorporate Transfers 302
Elimination of Unrealized Profits and Losses 303
ASSET TRANSFERS INVOLVING LAND 305
Overview of the Profit Elimination Process 305
Assignment of Unrealized Profit Elimination 307
Downstream Sale 309
Upstream Sale 313
Eliminating Unrealized Profits after the First Year 317
Subsequent Disposition of Asset 318
ASSET TRANSFERS INVOLVING DEPRECIABLE ASSETS 320
Downstream Sale 320
Change in Estimated Life of Asset Sold to Subsidiary 331
Upstream Sale 332
Asset Transfers before Year End 339
ASSET TRANSFERS INVOLVING AMORTIZABLE ASSETS 339
SUMMARY OF KEY CONCEPTS AND TERMS 339
APPENDIX: INTERCORPORATE TRANSFERS OF NONCURRENT
ASSETS—FULLY ADJUSTED EQUITY METHOD AND COST METHOD 340
FULLY ADJUSTED EQUITY METHOD 340
Fully Adjusted Equity Method Entries—19X1 341
Consolidation Workpaper—19X1 342
Fully Adjusted Equity Method Entries—19X2 345
Consolidation Workpaper—19X2 345
COST METHOD 348
Consolidation Workpaper—19X1 348
Consolidation Workpaper—19X2 350
CONTENTS iX
7 Intercompany Inventory Transactions 372
GENERAL OVERVIEW 372
Transfers at Cost 373
Transfers at a Profit or Loss 373
Effect of Type of Inventory System 374
DOWNSTREAM SALE—PERPETUAL INVENTORY SYSTEM 374
Resale in Period of Intercorporate Transfer 375
Resale in Period following Intercorporate Transfer 376
Inventory Held Two or More Periods 384
UPSTREAM SALE—PERPETUAL INVENTORY SYSTEM 384
Basic Equity Method Entries—19X1 385
Consolidation Workpaper—19X1 386
Consolidated Net Income—19X1 388
Basic Equity Method Entries—19X2 388
Consolidation Workpaper—19X2 389
Consolidated Net Income—19X2 389
INTERCOMPANY TRANSFERS UNDER A PERIODIC INVENTORY
SYSTEM 391
Resale in Period of Intercorporate Transfer 392
Resale in Period following Intercorporate Transfer 392
Inventory Held Two or More Periods 399
SUMMARY COMPARISON OF INTERCOMPANY
INVENTORY TRANSACTIONS 399
ADDITIONAL CONSIDERATIONS 399
Sale from One Subsidiary to Another 399
Costs Associated with Transfers 402
Lower of Cost or Market 402
Sales and Purchases before Affiliation 403
SUMMARY OF KEY CONCEPTS AND TERMS 404
APPENDIX A: COMPREHENSIVE EXAMPLE OF
INTERCOMPANY INVENTORY TRANSACTIONS 404
BASIC EQUITY METHOD—19X2 405
INCOME ASSIGNED TO NONCONTROLLING INTEREST—19X2 405
BALANCE OF NONCONTROLLING INTEREST—DECEMBER 31, 19X2 406
CONSOLIDATION WORKPAPER, 19X2—PERPETUAL
INVENTORY SYSTEM 406
CONSOLIDATION WORKPAPER, 19X2—PERIODIC
INVENTORY SYSTEM 407
APPENDIX B: INTERCOMPANY INVENTORY TRANSACTIONS—
FULLY ADJUSTED EQUITY METHOD AND COST METHOD 410
FULLY ADJUSTED EQUITY METHOD 410
Fully Adjusted Equity Method Entries—19X1 410
Consolidation Elimination Entries—19X1 410
X CONTENTS
Fully Adjusted Equity Method Entries—19X2 411
Investment Account Balance 412
Consolidation Elimination Entries—19X2 412
COST METHOD 413
Consolidation Elimination Entries—19X1 413
Consolidation Elimination Entries—19X2 414
8 Intercompany Indebtedness 442
CONSOLIDATION OVERVIEW 442
BOND SALE DIRECTLY TO AN AFFILIATE 444
Transfer at Par Value 444
Transfer at a Discount or Premium 445
BONDS OF AFFILIATE PURCHASED FROM A NONAFFILIATE 448
Purchase at Book Value 449
Purchase at an Amount Less than Book Value 449
Purchase at an Amount Greater than Book Value 463
ADDITIONAL CONSIDERATIONS—INTERCORPORATE
LEASING TRANSACTIONS 464
Operating Leases 465
Direct Financing Leases 465
Sales Type Leases 467
SUMMARY OF KEY CONCEPTS AND TERMS 470
APPENDIX: INTERCOMPANY INDEBTEDNESS—FULLY
ADJUSTED EQUITY METHOD AND COST METHOD 471
FULLY ADJUSTED EQUITY METHOD 471
Fully Adjusted Equity Method Entries—19X1 471
Consolidation Elimination Entries—19X1 472
Fully Adjusted Equity Method Entries—19X2 472
Investment Account—19X2 473
Consolidation Elimination Entries—19X2 474
COST METHOD 474
Consolidation Elimination Entries—19X1 474
Consolidation Elimination Entries—19X2 475
9 Consolidation Ownership Issues 498
SUBSIDIARY PREFERRED STOCK OUTSTANDING 498
Consolidation with Subsidiary Preferred Stock Outstanding 499
Subsidiary Preferred Stock Held by Parent 500
Subsidiary Preferred Stock with Special Provisions 503
Illustration of Subsidiary Preferred Stock with Special Features 504
CHANGES IN PARENT COMPANY OWNERSHIP 506
Parent s Purchase of Additional Shares from Nonaffiliate 506
Parent s Sale of Subsidiary Shares to Nonaffiliate 509
CONTENTS XI
Subsidiary s Sale of Additional Shares to Nonaffiliate 513
Subsidiary s Sale of Additional Shares to Parent 516
Subsidiary s Purchase of Shares from Nonaffiliate 518
Subsidiary s Purchase of Shares from Parent 520
COMPLEX OWNERSHIP STRUCTURES 522
Multilevel Ownership and Control 522
Reciprocal Ownership 528
SUBSIDIARY STOCK DIVIDENDS 533
Illustration of Subsidiary Stock Dividends 533
Impact on Subsequent Periods 534
SUMMARY OF KEY CONCEPTS AND TERMS 535
APPENDIX: ILLUSTRATION OF CONSOLIDATED NET
INCOME COMPUTATION IN A COMPLEX OWNERSHIP
SITUATION 536
10 Additional Consolidation Reporting Issues 557
CONSOLIDATED STATEMENT OF CASH FLOWS 557
Preparation of a Consolidated Cash Flow Statement 557
Consolidated Cash Flow Statement Illustrated 558
CONSOLIDATION FOLLOWING A POOLING OF INTERESTS 561
Carryforward of Account Balances 562
Consolidated Stockholders Equity after a Pooling of Interests 562
Consolidation at Date of Combination 563
Consolidation Subsequent to Date of Combination 564
Consolidation following an Interim Acquisition 567
CONSOLIDATION INCOME TAX ISSUES 570
Allocating Tax Expense When a Consolidated Return Is Filed 570
Tax Effects of Unrealized Intercompany Profit Eliminations 572
CONSOLIDATED EARNINGS PER SHARE 577
Computation of Consolidated Earnings per Share 577
Computation of Consolidated Earnings per Share Illustrated 578
SUMMARY OF KEY CONCEPTS AND TERMS 581
11 Accounting for Branch Operations 610
DISTINCTION BETWEEN SALES AGENCY AND BRANCH 610
ACCOUNTING SYSTEMS AND THE ACCOUNTING ENTITY 611
ACCOUNTING FOR SALES AGENCIES 612
ACCOUNTING FOR BRANCH OPERATIONS 612
Intracompany Accounts 614
Establishment of Branch 615
Recognition of Branch Income 616
Merchandise Shipments to a Branch 617
Accounting for Branch Fixed Assets 620
XH CONTENTS
Apportionment of Expenses 621
Financial Statements for the Company as a Whole 622
Accounting for Branch Operations Illustrated 625
ADDITIONAL CONSIDERATIONS 627
Transactions between Branches 627
Unrealized Profits in Beginning Branch Inventory 632
Use of a Periodic Inventory System 632
Divisional Reporting 633
SUMMARY OF KEY CONCEPTS AND TERMS 634
12 Multinational Accounting: Foreign Currency Transactions 651
THE ACCOUNTING ISSUES 652
FOREIGN CURRENCY EXCHANGE RATES 653
The Determination of Exchange Rates 653
Direct versus Indirect Exchange Rates 653
Changes in Exchange Rates 655
Spot Rates versus Current Rates 658
Forward Exchange Rates 658
FOREIGN CURRENCY TRANSACTIONS 658
Foreign Currency Import and Export Transactions 660
Forward Exchange Contracts 665
Foreign Exchange Matrix 678
ADDITIONAL CONSIDERATIONS 678
Interperiod Tax Allocation for Foreign Currency Gains (Losses) 678
Hedges of a Net Investment in a Foreign Entity 679
SUMMARY OF KEY CONCEPTS AND TERMS 680
13 Multinational Accounting: Translation of Foreign Entity Statements 696
DIFFERENCES IN ACCOUNTING PRINCIPLES 697
DETERMINING THE FUNCTIONAL CURRENCY 698
Functional Currency Designation in Highly Inflationary
Economies 699
TRANSLATION VERSUS REMEASUREMENT OF FOREIGN
FINANCIAL STATEMENTS 700
TRANSLATION OF FUNCTIONAL CURRENCY STATEMENTS
INTO THE REPORTING CURRENCY OF THE U.S. COMPANY 702
Balance Sheet Presentation of Cumulative Translation Adjustment 703
Illustration of Translation and Consolidation of a
Foreign Subsidiary 703
REMEASUREMENT OF THE BOOKS OF RECORD INTO THE
FUNCTIONAL CURRENCY 716
Statement Presentation of Remeasurement Gain or Loss 718
Illustration of Remeasurement of a Foreign Subsidiary 718
Summary of Translation versus Remeasurement 722
CONTENTS Xiii
FOREIGN INVESTMENTS AND UNCONSOLIDATED SUBSIDIARIES 723
Liquidation of a Foreign Investment 724
DISCLOSURE REQUIREMENTS 724
ADDITIONAL CONSIDERATIONS IN ACCOUNTING FOR FOREIGN
OPERATIONS AND ENTITIES 726
Proof of Remeasurement Exchange Gain 726
Statement of Cash Flows 728
Lower of Cost or Market Inventory Valuation under
Remeasurement 728
Intercompany Transactions 729
Income Taxes 731
Translation When a Third Currency is the Functional Currency 731
SUMMARY OF KEY CONCEPTS AND TERMS 732
14 Segment and Interim Reporting 752
REPORTING FOR SEGMENTS 752
SEGMENT REPORTING ACCOUNTING ISSUES 752
INFORMATION ABOUT OPERATIONS IN DIFFERENT INDUSTRIES 753
Defining Reportable Segments 754
Comprehensive Disclosure Tests 763
Reporting Segment Information 764
INFORMATION ABOUT FOREIGN OPERATIONS AND EXPORT SALES 765
Defining Reportable Foreign Operations 766
Required Foreign Operations Disclosures 770
Reporting Export Sales 770
INFORMATION ABOUT MAJOR CUSTOMERS 770
INTERIM FINANCIAL REPORTING 771
THE FORMAT OF THE INTERIM FINANCIAL REPORT 772
ACCOUNTING ISSUES 772
Discrete versus Integral View of Interim Reporting 773
Accounting Pronouncements on Interim Reporting 773
REPORTING STANDARDS FOR INTERIM INCOME STATEMENTS 774
Revenue 774
Cost of Goods Sold and Inventory 775
All Other Costs and Expenses 780
Accounting for Income Taxes in Interim Periods 782
Disposal of a Segment or Extraordinary,
Unusual, Infrequently Occurring,
and Contingent Items 786
ACCOUNTING CHANGES IN INTERIM PERIODS 787
Cumulative Effect Accounting Changes 787
Retroactive Type Accounting Changes 787
Adoption of LIFO 788
SUMMARY OF KEY CONCEPTS AND TERMS 788
XJV CONTENTS
15 SEC Reporting 809
HISTORY OF SECURITIES REGULATION 809
SECURITIES AND EXCHANGE COMMISSION 811
Organizational Structure of the Commission 811
Laws Administered by the SEC 812
The Regulatory Structure 812
INTEGRATED DISCLOSURE SYSTEM 814
ISSUING SECURITIES: THE REGISTRATION PROCESS 816
The Registration Statement 817
SEC Review and Public Offering 817
Accountants Legal Liability in the Registration Process 818
PERIODIC REPORTING REQUIREMENTS 818
Accountants Legal Liability in Periodic Reporting 820
FOREIGN CORRUPT PRACTICES ACT OF 1977 820
CORPORATE GOVERNANCE ACTIVITIES 821
THE SEC S POLICY SETTING RESPONSIBILITIES 822
MAJOR DISCLOSURE REQUIREMENTS 824
Management Discussion and Analysis 824
Annual Report Disclosures 825
Specialized Industry Disclosures 828
Information Outside Financial Statements 829
ADDITIONAL CONSIDERATIONS 830
Influence on the Practice of Auditing 830
AlCPA s Division of Firms 831
SUMMARY OF KEY CONCEPTS AND TERMS 831
16 Partnerships: Formation, Operation, and Changes in Membership 845
NATURE OF PARTNERSHIP ENTITY 846
Definition of a Partnership 846
Formation of a Partnership 846
Other Major Characteristics of Partnerships 847
ACCOUNTING FOR THE FORMATION OF A PARTNERSHIP 848
Illustration of Accounting for Partnership Formation 848
ACCOUNTING FOR OPERATIONS OF A PARTNERSHIP 850
Partners Accounts 850
ALLOCATING PROFIT OR LOSS TO PARTNERS 851
Illustrations of Profit Allocation 853
Multiple Bases of Profit Allocation 856
Special Profit Allocation Methods 857
PARTNERSHIP FINANCIAL STATEMENTS 857
CHANGES IN MEMBERSHIP 858
New Partner Purchases an Interest 859
New Partner Invests in Partnership 861
CONTENTS XV
Determining a New Partner s Investment Cost 875
Retirement of a Partner from the Partnership 876
SUMMARY OF KEY CONCEPTS AND TERMS 878
APPENDIX A: TAX ASPECTS OF A PARTNERSHIP 879
APPENDIX B: JOINT VENTURES 881
17 Partnerships: Liquidations 903
OVERVIEW OF PARTNERSHIP LIQUIDATIONS 903
Dissolution, Termination, and Liquidation
of a Partnership 904
Priority of Claims 905
LUMP SUM LIQUIDATIONS 908
Realization of Assets gO8
Expenses of Liquidation 909
Illustration of Lump Sum Liquidation gog
INSTALLMENT LIQUIDATIONS 915
Illustration of Installment Liquidation gi5
Cash Distribution Plan 920
ADDITIONAL CONSIDERATIONS 923
Incorporation of a Partnership 923
SUMMARY OF KEY CONCEPTS AND TERMS 926
APPENDIX: PARTNERS PERSONAL FINANCIAL STATEMENTS 927
ILLUSTRATION OF PERSONAL FINANCIAL STATEMENTS 928
Statement of Financial Condition 928
Statement of Changes in Net Worth 929
Footnote Disclosures 931
18 Governmental Entities: Introduction and General Fund Accounting 949
EXPENDABILITY OF RESOURCES VERSUS CAPITAL MAINTENANCE OBJECTIVES 950
FINANCIAL REPORTING OF GOVERNMENTAL ENTITIES 951
HISTORY OF GOVERNMENTAL ACCOUNTING 952
DEFINITIONS AND TYPES OF FUNDS 953
Types of Funds and Account Groups 954
MEASUREMENT FOCUS AND BASIS OF ACCOUNTING 958
Basis of Accounting—Government Funds 960
Basis of Accounting—Proprietary Funds 962
Basis of Accounting—Fiduciary Funds 962
BUDGETARY ASPECTS OF GOVERNMENT OPERATIONS 953
Recording the Operating Budget g64
XVi CONTENTS
ACCOUNTING FOR EXPENDITURES 965
The Expenditure Process 965
Classification of Expenditure Transactions and Accounts 967
Outstanding Encumbrances at End of Fiscal Period 969
Expenditures for Inventory 973
Accounting for Prepayments and Fixed Assets 975
Long Term Debt and Capital Leases 977
INTERFUND TRANSFERS AND TRANSACTIONS 978
Quasi External Transactions 978
Reimbursements 979
Financing Transactions: Loans and Advances 980
Operating Transfers 980
Residual Equity Transfers 981
OVERVIEW OF ACCOUNTING AND FINANCIAL REPORTING
FOR GENERAL FUND 983
COMPREHENSIVE ILLUSTRATION OF ACCOUNTING FOR
THE GENERAL FUND 983
Adoption of the Budget 983
Property Tax Levy and Collection 985
Other Revenue 986
Expenditures 987
Acquisition of Capital Asset 988
Interfund Transfers and Transactions 988
Adjusting Entries 989
Closing Entries 990
Financial Statements for the General Fund 992
SUMMARY OF KEY CONCEPTS AND TERMS 995
19 Governmental Entities: Special Funds and Account Groups 1017
SPECIAL REVENUE FUNDS 1019
CAPITAL PROJECTS FUNDS 1019
Illustration of Transactions 1021
Financial Statements for Capital Projects Funds 1024
DEBT SERVICE FUNDS 1024
Illustration of Transactions 1026
Financial Statements for Debt Service Funds 1029
GENERAL FIXED ASSETS ACCOUNT GROUP (GFAAG) 1030
Illustration of Accounting in General Fixed Assets Account Group 1031
Financial Statement for General Fixed Assets Account Group 1033
GENERAL LONG TERM DEBT ACCOUNT GROUP (GLTDAG) 1034
Illustration of Accounting in General Long Term Debt Account Group 1034
Financial Statement for General Long Term Debt Account
Group 1036
CONTENTS XVH
ENTERPRISE FUNDS 1036
Illustration of Transactions 1037
Financial Statements for Enterprise Funds 1039
INTERNAL SERVICE FUNDS 1042
Illustration of Transactions 1042
Financial Statements for Internal Service Funds 1044
TRUST FUNDS 1044
Illustration of Nonexpendable Trust Fund 1044
Illustration of Expendable Trust Fund 1048
Financial Statements for the Trust Funds 1048
AGENCY FUNDS 1050
Illustration of Transactions in an Agency Fund 1051
FINANCIAL REPORTING FOR A GOVERNMENT UNIT 1052
The Financial Reporting Pyramid 1052
The Reporting Entity 1053
General Purpose Financial Statements (GPFS) 1057
Comprehensive Annual Financial Report (CAFR) 1058
Interim Reporting 1058
Auditing Government Entities 1058
ADDITIONAL CONSIDERATIONS 1059
Accounting for Pension Trust Funds 1059
SUMMARY OF KEY CONCEPTS AND TERMS 1060
APPENDIX: OTHER GOVERNMENTAL ENTITIES—PUBLIC
SCHOOL SYSTEMS AND THE FEDERAL GOVERNMENT 1060
PUBLIC SCHOOL SYSTEMS 1061
Accounting and Financial Reporting for Public School
Systems 1061
FEDERAL GOVERNMENT ACCOUNTING 1061
Federal Agency Accounting 1062
Audits of Federal Agencies 1064
20 Not for Profit Entities: Colleges and Universities 1088
OVERVIEW OF ACCOUNTING FOR COLLEGES AND UNIVERSITIES 1088
Fund Structure for Colleges and Universities 1089
UNRESTRICTED CURRENT FUND 1090
Special Conventions of Revenue and Expenditure Recognition 1092
Transfers and Board Designated Funds 1093
Investments 1094
Contributions 1094
Depreciation 1095
Illustration of Transactions 1096
xviii contents
RESTRICTED CURRENT FUND 1104
Illustration of Transactions 1105
Financial Statements for the Restricted Current Fund 1107
LOAN FUNDS 1108
Illustration of Transactions 1108
ENDOWMENT AND SIMILAR FUNDS 1112
Illustration of Transactions 1113
ANNUITY AND LIFE INCOME FUNDS 1115
Illustration of Transactions 1116
PLANT FUNDS 1118
Depreciation 1120
Illustration of Transactions in Unexpended Plant Fund 1120
Illustration of Transactions in Renewals and Replacements 1123
Illustration of Transactions in Retirement of Indebtedness 1124
Illustration of Transactions in Investment in Plant 1126
AGENCY FUNDS 1128
Illustration of Transactions 1128
FINANCIAL REPORTING FOR A UNIVERSITY ENTITY 1129
SUMMARY OF KEY CONCEPTS AND TERMS 1132
21 Not for Profit Entities: Health Care Providers, Voluntary Health
and Welfare Organizations, and Other Entities 1153
HEALTH CARE PROVIDERS 1153
Hospital Accounting 1154
Financial Statements for a Hospital 1156
Comprehensive Illustration of Hospital Accounting and
Financial Reporting 1160
Summary of Hospital Accounting and Financial Reporting 1174
VOLUNTARY HEALTH AND WELFARE ORGANIZATIONS 1174
Accounting for a VHWO 1175
Financial Statements for a VHWO 1177
Summary of Accounting and Financial Reporting for VHWOs 1187
OTHER NOT FOR PROFIT ENTITIES 1189
Accounting for ONPOs 1189
Financial Statements for an ONPO 1193
Summary of Accounting and Financial Reporting for ONPOs 1197
SUMMARY OF KEY CONCEPTS AND TERMS 1197
22 Corporations in Financial Difficulty 1222
COURSES OF ACTION 1223
Nonjudicial Actions 1223
Judicial Actions 1224
CONTENTS XiX
TROUBLED DEBT RESTRUCTURING 1225
Illustration of Troubled Debt Restructurings 1227
Other Considerations 1233
CHAPTER 11 REORGANIZATIONS 1234
Fresh Start Accounting 1236
Plan of Reorganization 1237
Illustration of a Reorganization 1237
CHAPTER 7 LIQUIDATIONS 1247
Classes of Creditors 1247
Statement of Affairs 1248
ADDITIONAL CONSIDERATIONS 1250
Trustee Accounting and Reporting 1251
Bankruptcy Provisions for Individuals 1258
SUMMARY OF KEY CONCEPTS AND TERMS 1259
Index 1279
|
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| author | Baker, Richard E. Lembke, Valdean C. King, Thomas E. |
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| dewey-ones | 657 - Accounting |
| dewey-raw | 657/.046 |
| dewey-search | 657/.046 |
| dewey-sort | 3657 246 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| edition | 2. ed. |
| format | Book |
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| geographic | USA (DE-588)4078704-7 gnd |
| geographic_facet | USA |
| id | DE-604.BV007995729 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T17:12:47Z |
| institution | BVB |
| isbn | 0070034478 |
| language | English |
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| physical | XXVI, 1286 S. graph. Darst. |
| publishDate | 1993 |
| publishDateSearch | 1993 |
| publishDateSort | 1993 |
| publisher | MacGraw-Hill |
| record_format | marc |
| spelling | Baker, Richard E. Verfasser aut Advanced financial accounting Richard E. Baker ; Valdean C. Lembke ; Thomas E. King 2. ed. New York, NY u.a. MacGraw-Hill 1993 XXVI, 1286 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Boekhouden gtt Accounting Rechnungswesen (DE-588)4048732-5 gnd rswk-swf Konzern (DE-588)4032356-0 gnd rswk-swf Rechnungslegung (DE-588)4128343-0 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf (DE-588)4151278-9 Einführung gnd-content (DE-588)4123623-3 Lehrbuch gnd-content USA (DE-588)4078704-7 g Konzern (DE-588)4032356-0 s Rechnungslegung (DE-588)4128343-0 s 1\p DE-604 Rechnungswesen (DE-588)4048732-5 s 2\p DE-604 Lembke, Valdean C. Verfasser aut King, Thomas E. Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005265449&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Baker, Richard E. Lembke, Valdean C. King, Thomas E. Advanced financial accounting Boekhouden gtt Accounting Rechnungswesen (DE-588)4048732-5 gnd Konzern (DE-588)4032356-0 gnd Rechnungslegung (DE-588)4128343-0 gnd |
| subject_GND | (DE-588)4048732-5 (DE-588)4032356-0 (DE-588)4128343-0 (DE-588)4078704-7 (DE-588)4151278-9 (DE-588)4123623-3 |
| title | Advanced financial accounting |
| title_auth | Advanced financial accounting |
| title_exact_search | Advanced financial accounting |
| title_full | Advanced financial accounting Richard E. Baker ; Valdean C. Lembke ; Thomas E. King |
| title_fullStr | Advanced financial accounting Richard E. Baker ; Valdean C. Lembke ; Thomas E. King |
| title_full_unstemmed | Advanced financial accounting Richard E. Baker ; Valdean C. Lembke ; Thomas E. King |
| title_short | Advanced financial accounting |
| title_sort | advanced financial accounting |
| topic | Boekhouden gtt Accounting Rechnungswesen (DE-588)4048732-5 gnd Konzern (DE-588)4032356-0 gnd Rechnungslegung (DE-588)4128343-0 gnd |
| topic_facet | Boekhouden Accounting Rechnungswesen Konzern Rechnungslegung USA Einführung Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005265449&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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