Financial accounting:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Englewood Cliffs, NJ
Prentice Hall
1995
|
| Edition: | 2. ed. |
| Series: | Prentice Hall series in accounting
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXV, 886 S. Ill., graph. Darst. |
| ISBN: | 0133118207 |
Staff View
MARC
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Record in the Search Index
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|---|---|
| adam_text | ^^^B Contents Preface xiii
Introduction xvii
Part I Basic Framework 1
1 The Role and Context of Accounting 3
1.1 An introduction to accounting and accountants 3
1.2 Accounting and organizations 6
1.3 Financial accounting and the readers of financial statements 12
1.4 Financial accounting and society 13
1.5 Financial accounting and UK organizations 17
1.6 Auditors and accountants in the UK 19
1.7 Accounting as a social science 22
1.8 Financial statements and communication 22
Discussion topics 25
Further reading 26
2 Accounting and Decision Making 27
2.1 The users of financial statements 27
2.2 Organizational size and financial statements 33
2.3 Implications of users information requirements 34
2.4 Forecasts of future cash flows 36
2.5 Analysis and interpretation of financial information 38
2.6 Understanding the message 39
2.7 Historical cash flows and accrual accounting 40
2.8 The allocation of expenditure 45
V
2.9 Summary 48
Discussion topics 48
Exercises 49
Further reading 51
Appendix 2A The time value of money 51
3 The Regulation of Financial Reporting 55
3.1 The need for some accounting rules 55
3.2 The framework of accounting regulation in the UK 56
3.3 The context of regulation 64
3.4 The role and usefulness of accounting standards 65
3.5 A conceptual framework 68
3.6 A practical framework 70
3.7 Criteria for the choice of accounting method 72
3.8 Generally Accepted Accounting Practice 79
Discussion topics 80
Further reading 81
Part 2 The Conventional Accounting Model of the
Organization 83
4 The Transformation Process and Financial Statements 85
4.1 Accounting statements and the organization s operations 85
4.2 The transformation process 87
4.3 An illustration of the transformation process 90
4.4 The balance sheet — a statement of position 92
4.5 The income statement — a statement of the result
of operations 94
4.6 Money as a measurement unit 95
4.7 Cash as a monetary resource and a medium of exchange 96
4.8 Claims on the organization s assets 99
4.9 Revenue recognition in the income statement 102
4.10 The cash flow statement 104
Discussion topics 106
5 Financial Statements and the Accounting Equation 107
5.1 The preparation of the balance sheet 108
5.2 An illustration of double entry bookkeeping 110
5.3 General principles of double entry bookkeeping 112
5.4 The income statement 113
5.5 The accounting period 114
5.6 The layout of the income statement 115
5.7 The expanded accounting equation 117
5.8 Income and cash flows 122
5.9 Accruals and prepayments 124
5.10 The accounting treatment of accruals 126
5.11 Accruals: some further considerations 130
5.12 An illustration from practice — E.H. Booth Co. Ltd 133
Discussion topics 138
Exercises 139
Further reading 143
6 fixed and Intangible Assets 144
6.1 Distinction between expenses and assets — a review 144
6.2 Fixed assets and depreciation 145
6.3 Methods of depreciation 148
6.4 Accounting entries for depreciation 158
6.5 Intangible assets 160
6.6 Accounting treatment of intangible assets 162
6.7 Illustration of the accounting treatment of intangible assets 164
6.8 The primacy of the income statement or the balance sheet 166
6.9 An illustration from practice — E.H. Booth Co. Ltd 170
Discussion topics 172
Exercises 173
Further reading 175
7 Stocks 177
7.1 Stock costing methods 179
7.2 The allocation of manufacturing overhead costs 180
7.3 Full costing versus direct costing 185
7.4 Stock flow assumptions 192
7.5 An illustration of alternative methods 193
7.6 The choice of a stock flow assumption 199
7.7 Accounting entries 201
7.8 The lower of cost and net realizable value rule 204
7.9 Long term contracts 204
7.10 An illustration from practice — E.H. Booth Co. Ltd 207
Discussion topics 208
Exercises 208
Further reading 214
8 Sources of Finance 215
8.1 Long term and short term financing 215
8.2 Sources of long term capital: individuals 216
8.3 Sources of long term capital: partnerships 218
8.4 Sources of long term capital: limited companies 219
8.5 Capital structure 223
8.6 Short term bank loans and overdrafts 226
8.7 Accounting treatment of long term sources of capital 227
8.8 An illustration from practice — E.H. Booth Co. Ltd 235
Discussion topics 241
Exercises 242
Further reading 246
9 Double entry Bookkeeping 247
9.1 Conventional double entry bookkeeping and the
accounting equation 247
9.2 Double entry bookkeeping: a simple example 250
9.3 Double entry bookkeeping: transactions and adjustments 258
9.4 The Camera Shop Ltd: a detailed illustration 260
Appendix 9A The Camera Shop Ltd 276
Discussion topics 283
Exercises 284
Further reading 296
10 Interpretation of Accounts: Ratio Analysis 297
10.1 The role of ratio analysis 297
10.2 Limitations of ratio analysis 299
10.3 Illustration of the calculation and usefulness of ratios 300
10.4 Limitations of historical cost ratios 318
10.5 Summary of the analysis 321
Discussion topics 322
Exercises ozo
Further reading 2
I I Interpretation of Accounts: Cash Flow Statements 333
11.1 Sources and uses of cash 334
11.2 Illustration of the preparation of a cash flow statement 335
11.3 Interpretation of the cash flow statement 342
11.4 Cash flows and net income 346
11.5 An illustration from practice — E.H. Booth Co. Ltd 348
Discussion topics 366
Exercises 367
Further reading 375
Part 3 Limitations of the Conventional Model 377
12 Problems with the Conventional Accounting Model 379
12.1 Limitations of the conventional model 380
12.2 Outdated historical costs 380
12.3 Holes in the balance sheet 383
12.4 Too many choices 384
12.5 Creative accounting 385
12.6 Conclusions 388
Discussion topics 388
Further reading 389
13 Accounting for Changing Prices 390
13.1 Changing price levels 390
13.2 Income determination 392
13.3 Capital maintenance concepts 394
13.4 Methods of asset valuation 396
13.5 Classification of reporting methods 399
13.6 The inflation accounting debate in the UK 400
13.7 Replacement cost accounting 402
13.8 Main differences between replacement cost and
historical cost accounting 407
13.9 Current costs and alternative capital maintenance concepts 411
Discussion topics 414
Exercises 414
Further reading 417
14 Evaluation of Alternative Accounting Methods 419
14.1 Criteria for choice of accounting method 420
14.2 Economic measures of income and value 425
14.3 The role and usefulness of economic measures 428
14.4 Alternative accounting methods for external reporting 430
14.5 Evaluation of capital maintenance concepts 431
14.6 Evaluation of asset valuation methods 432
14.7 Conclusions 442
Discussion topics 444
Exercises 445
Further reading 447
Part 4 Advanced Issues 449
15 Conceptual Frameworks and International Harmonization 451
15.1 Introduction 451
15.2 The ASB s Statement of Principles 453
15.3 The search for a conceptual framework 464
15.4 The problems of developing an agreed conceptual framework 467
15.5 Pressures for international standardization 469
15.6 International differences in accounting regulation 471
15.7 International harmonization and the IASC 477
15.8 Summary 481
Discussion topics 482
Further reading 483
16 Introduction to Accounting for Groups 485
16.1 Rationale for group accounts 486
16.2 Categories of group relationships 487
16.3 Acquisition accounting 488
16.4 Merger accounting 493
16.5 Associated companies 497
16.6 Creativity in group accounting 500
16.7 A further example of group accounting 501
Discussion topics 504
Exercises 505
Further reading 508
17 Intangibles Revisited 510
17.1 Background 511
17.2 The nature of goodwill 514
17.3 The problem of goodwill 516
17.4 Conceptual issues and criteria 521
17.5 Alternative accounting treatments 523
17.6 The way forward? 526
Discussion topics 5.31
coo
Further reading DOA
Part 5 Summary and Review 535
18 Summary and Review 537
18.1 Review of objectives 537
18.2 The main principles 538
18.3 Limitations to the scope of the book 539
18.4 The current state of financial accounting 540
Discussion topics 542
Exercise 542
Appendix I £.K Booth Co. Ltd Report Accounts 1992 545
Index 567
|
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| spelling | Harrison, Walter T. Verfasser aut Financial accounting Walter T. Harrison ; Charles T. Horngren 2. ed. Englewood Cliffs, NJ Prentice Hall 1995 XXV, 886 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Prentice Hall series in accounting Comptabilité ram Accounting International Financial Reporting Standards (DE-588)4699643-6 gnd rswk-swf Finanzbuchhaltung (DE-588)4113562-3 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf 1\p (DE-588)4123623-3 Lehrbuch gnd-content USA (DE-588)4078704-7 g Finanzbuchhaltung (DE-588)4113562-3 s DE-604 International Financial Reporting Standards (DE-588)4699643-6 s 2\p DE-604 Horngren, Charles T. 1926-2011 Verfasser (DE-588)129194565 aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007072151&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 | Harrison, Walter T. Horngren, Charles T. 1926-2011 Financial accounting Comptabilité ram Accounting International Financial Reporting Standards (DE-588)4699643-6 gnd Finanzbuchhaltung (DE-588)4113562-3 gnd |
| subject_GND | (DE-588)4699643-6 (DE-588)4113562-3 (DE-588)4078704-7 (DE-588)4123623-3 |
| title | Financial accounting |
| title_auth | Financial accounting |
| title_exact_search | Financial accounting |
| title_full | Financial accounting Walter T. Harrison ; Charles T. Horngren |
| title_fullStr | Financial accounting Walter T. Harrison ; Charles T. Horngren |
| title_full_unstemmed | Financial accounting Walter T. Harrison ; Charles T. Horngren |
| title_short | Financial accounting |
| title_sort | financial accounting |
| topic | Comptabilité ram Accounting International Financial Reporting Standards (DE-588)4699643-6 gnd Finanzbuchhaltung (DE-588)4113562-3 gnd |
| topic_facet | Comptabilité Accounting International Financial Reporting Standards Finanzbuchhaltung USA Lehrbuch |
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