Verfügbarkeit: Financial & managerial accounting

Financial & managerial accounting:

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Bibliographische Detailangaben
Hauptverfasser:	Needles, Belverd E. (VerfasserIn), Powers, Marian (VerfasserIn), Crosson, Susan V. (VerfasserIn)
Format:	Buch
Sprache:	English
Veröffentlicht:	Boston [u.a.] Houghton Mifflin Comp. 2005
Ausgabe:	7. ed.
Schlagworte:	Rechnungswesen Management Accounting
Online-Zugang:	Inhaltsverzeichnis
Beschreibung:	XLII, 1297 S. Ill., graph. Darst.
ISBN:	0618393625

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Datensatz im Suchindex

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adam_text	Brief Contents 1 Uses of Accounting Information and the Financial Statements 2 Supplement to Chapter 1 How to Read an Annual Report 49 2 Measuring Business Transactions 114 3 Measuring Business Income 156 4 Accounting Information Systems 196 5 Financial Reporting and Analysis 246 6 Merchandising Operations and Internal Control 294 7 Short-Term Financial Assets 340 8 Inventories 382 9 Current Liabilities 420 10 Long-Term Assets 452 11 Long-Term Liabilities 498 12 Contributed Capital 538 13 The Corporate Income Statement and the Statement of Stockholders Equity 574 14 The Statement of Cash Flows 610 15 The Changing Business Environment: A Manager s Perspective 656 16 Cost Concepts and Cost Allocation 698 17 Costing Systems: Job Order Costing 746 18 Costing Systems: Process Costing 782 19 Activity-Based Systems: ABM and JIT 814 20 Cost Behavior Analysis 854 j 21 The Budgeting Process 892 22 Standard Costing and Variance Analysis 938 23 Performance Management and Evaluation 980 24 Short-Run Decision Analysis 1018 25 Pricing Decisions, Including Target Costing and Transfer Pricing 1052 26 Capital Investment Analysis 1094 27 Quality Management and Measurement 1126 28 Financial Performance Evaluation 1160 Appendix A The Merchandising Work Sheet and Closing Entries 1205 Appendix B Special-Purpose Journals 1213 Appendix C Accounting for Unincorporated Businesses 1227 Appendix D International Accounting 1237 Appendix E Long-Term Investments 1244 Appendix F The Time Value of Money 1251 Appendix G Future Value and Present Value Tables 1264 Contents Preface xxi To the Student xxxiii About the Authors xxxviii Check Figures xxxix 1 Uses of Accounting Information and tr ¦ DECISION POINT Walgreen Co. 2 accounting as an information System 4 Business Coals, Activities, and Performance Measures 4 u VIDEO CASE Intel Corporation 5 ¦ Focus on Business Practice How Do Performance Measures Relate to Executive Bonuses? 7 Financial and Management Accounting 7 Processing Accounting Information 7 ¦ Focus on Business practice What Does Walgreens Have to Say about Itself? 7 ¦ Focus on Business Practice How Did Accounting Develop? 8 Decision Makers: The Users of Accounting Information 8 Management 9 Users with a Direct Financial Interest 9 ¦ Focus on Business Practice What Does the CFO Do? 10 Users with an Indirect Financial Interest 10 Governmental and Not-for-Profit Organizations 10 ACCOUNTING MEASUREMENT 11 What Is Measured? 11 Business Transactions as the Object of Measurement 11 Money Measure 11 The Concept of Separate Entity 12 THE CORPORATION AS A SEPARATE ENTITY 12 Corporations Differentiated from Sole Proprietorships and Partnerships 12 ¦ FOCUS ON BUSINESS PRACTICE Are Most Corporations Big or Small Businesses? 13 Supplement to Chapter 1 How to Read an The Components of an Annual report 49 Letter to the Stockholders 49 Financial Highlights 50 le Financial Statements 2 Formation of a Corporation 14 Organization of a Corporation 14 Financial Position and the accounting Equation 15 Assets 15 Liabilities 15 Owners Equity 16 Some Illustrative Transactions 17 Communication through Financial Statements 22 The Income Statement 22 The Statement of Retained Earnings 22 The Balance Sheet 22 The Statement of Cash Flows 24 Financial Statements of Walgreen Co. 25 Generally Accepted accounting Principles 28 Financial Statements, CAAP, and the Independent CPA s Report 28 Organizations That Influence Current Practice 29 professional ethics and the accounting Profession 30 ¦ Focus on Business ethics Good Ethics = Good Business! 30 Chapter Review 31 Review of Learning Objectives 31 Review of Concepts and Terminology 32 Review Problem 34 Answer to Review Problem 35 Chapter Assignments 36 Questions 36 Short Exercises 36 Exercises 38 Problems 41 Alternate Problems 43 Skills Development Cases 44 Financial Reporting and Analysis Cases 46 Annual Report 49 Description of the Company 50 Management s Discussion and Analysis 50 Financial Statements 50 VI Contents Notes to Financial Statements 52 Report of Management s Responsibilities 53 Report of Certified Public Accountants 53 2 Measuring Business Transactions ¦ DECISION POINT Continental Airlines, Inc. The Boeing Co. 114 Measurement Issues 116 The Recognition Issue 116 ¦ FOCUS ON BUSINESS PRACTICE Accounting Policies: Where Do You Find Them? 116 The Valuation Issue 117 ¦ Focus on International Business No Dollar Amount: How Can That Be? 117 ¦ Focus on Business Practice Is It Always Cost? 118 The Classification Issue 118 ACCOUNTS AND THE CHART OF ACCOUNTS 118 Stockholders Equity Accounts 120 Account Titles 120 The double-Entry System: The basic method of accounting 121 The T Account 121 The T Account Illustrated 122 3 Measuring Business Income ¦ DECISION POINT Kelly Services 156 Profitability Measurement: The Role of Business income 158 Net Income 158 Revenues 158 Expenses 158 INCOME MEASUREMENT ISSUES 159 The Accounting Period Issue 159 ¦ FOCUS ON BUSINESS PRACTICE Fiscal Year-Ends Vary. 159 The Continuity Issue 159 The Matching Issue 160 ACCRUAL ACCOUNTING 160 Recognizing Revenues When Earned 160 Recognizing Expenses When Incurred 161 Adjusting the Accounts 161 ¦ Focus on Business ethics Aggressive Accounting or Deception? You Judge. 161 Accrual Accounting and Performance Measures 162 Supplementary Information Notes 54 THE ANNUAL REPORT PROJECT 56 114 Analyzing and Processing Transactions 122 Transaction Analysis Illustrated 124 ¦ FOCUS ON BUSINESS ETHICS Are Financial Statements Always Truthful? 126 THE TRIAL BALANCE 131 ¦ Focus on Business technology Are All Trial Balances Created Equal? 132 RECORDING AND POSTING TRANSACTIONS 133 The General Journal 133 The General Ledger 134 Some Notes on Presentation 136 Chapter Review 136 Review of Learning Objectives 136 Review of Concepts and Terminology 137 Review Problem 138 Answer to Review Problem 139 Chapter Assignments 140 Questions 140 Short Exercises 141 Exercises 143 Problems 146 Alternate Problems 149 Skills Development Cases 152 Financial Reporting and Analysis Cases 153 156 THE ADJUSTMENT PROCESS 163 Type 1: Allocating Recorded Costs Between Two or More Accounting Periods (Deferred Expenses) 163 ¦ Focus on International Business Who Needs Accounting Knowledge? 167 Type 2: Recognizing Unrecorded Expenses (Accrued Expenses) 168 Type 3: Allocating Recorded Unearned Revenues Between Two or More Accounting Periods (Deferred Revenues) 170 Type 4: Recognizing Unrecorded Revenues (Accrued Revenues) 171 ¦ Focus on Business Technology Ecommerce: What s Its Impact? 172 A Note About Journal Entries 172 USING THE ADJUSTED TRIAL BALANCE TO PREPARE FINANCIAL STATEMENTS 172 ¦ FOCUS ON BUSINESS TECHNOLOGY Entering Adjustments With the Touch of a Button 175 Cash flows from Accrual-Based Information 175 Chapter Review 176 Review of Learning Objectives 176 Review of Concepts and Terminology 177 Review Problem 178 Answer to Review Problem 179 Chapter Assignments 182 Questions 182 Short Exercises 182 Exercises 183 Problems 186 Alternate Problems 190 4 Accounting Information Systems ¦ DECISION POINT Hershey Foods Corp. 196 accounting information systems: principles of Design 198 Cost-Benefit Principle 198 Control Principle 198 ¦ Focus on Business practice How Much Is a Used Computerized Accounting System Worth? 199 Compatibility Principle 199 Flexibility Principle 199 Overview of the Accounting Cycle 199 Computerized Accounting Systems 201 Spreadsheet Software 201 General Ledger Systems 201 ¦ FOCUS ON BUSINESS TECHNOLOGY Networking: How to Get It Done 201 Structure of General Ledger Systems 203 ACCOUNTANTS, BUSINESSES, AND THE INTERNET 204 ¦ FOCUS ON BUSINESS PRACTICE B to B and EDI: How Much Can They Save? 205 5 Financial Reporting and Analysis ¦ DECISION POINT General Mills, Inc. 246 Objectives of Financial Information 248 Qualitative Characteristics of Accounting Information 248 Conventions That Help in the Interpretation of financial information 250 Comparability and Consistency 250 ¦ FOCUS ON BUSINESS PRACTICE How Much Is Material? It s Not Only a Matter of Numbers. 251 Materiality 251 Conservatism 251 ¦ Focus on Business Practice When Is Full Disclosure Too Much? It s a Matter of Cost and Benefits. 252 Full Disclosure 252 Cost-Benefit 252 Contents vii Skills Development Cases 192 Financial Reporting and Analysis Cases 193 196 CLOSING ENTRIES 205 ¦ FOCUS ON BUSINIESS TECHNOLOGY E2K: How Much Time Can It Save? 205 Required Closing Entries 206 The Accounts After Closing 210 ¦ Focus on International Business Closing Doesn t Have to Be Such a Headache. 213 the Post-Closing trial balance 213 Reversing Entries: The Optional First Step in the next accounting period 214 The Work Sheet: An accountant s Tool 215 Preparing the Work Sheet 216 Using the Work Sheet 222 Chapter Review 225 Review of Learning Objectives 225 Review of Concepts and Terminology 226 Review Problem 228 Answer to Review Problem 229 Chapter Assignments 229 Questions 229 Short Exercises 230 Exercises 232 Problems 236 Alternate Problems 240 Skills Development Cases 242 Financial Reporting and Analysis Cases 243 246 MANAGEMENT S RESPONSIBILITY FOR ETHICAL REPORTING 253 ¦ Focus on Business Ethics Questionable Accounting Practices Are Under Scrutiny. 253 Classified Balance Sheet 254 Assets 254 Liabilities 256 Stockholders Equity 257 Other Forms of Business Organization 257 Reading and Graphing Real Company Balance Sheets 258 FORMS OF THE INCOME STATEMENT 260 Multistep Income Statement 260 Reading and Graphing Real Company Income Statements 263 Single-Step Income Statement 264 Using Classified Financial Statements 266 viii Contents Evaluation of Liquidity 267 ¦ Focus on Business Practice Who is Right: The Credit-Worthiness Analyst or the Profitability Analyst? 268 Evaluation of Profitability 268 ¦ Focus on Business Practice To What Level of Profitability Should a Company Aspire? 271 6 Merchandising Operations and Interna ¦ DECISION POINT Target Stores 294 MANAGEMENT ISSUES IN MERCHANDISING BUSINESSES 296 Cash Flow Management 296 ¦ VIDEO CASE Claire s Stores, Inc. 297 Profitability Management 298 Choice of Inventory System 298 ¦ Focus on Business Technology Bar Codes—How Have They Influenced Choice of Inventory Systems? 299 Control of Merchandising Operations 300 TERMS OF SALE 301 ¦ Focus on Business Technology How Are Web Sales Doing? 301 APPLYING THE PERPETUAL INVENTORY SYSTEM 302 Transactions Related to Purchases of Merchandise 302 Transactions Related to Sales of Merchandise 304 ¦ Focus on Business practice Are Sales Returns Worth Accounting For? 305 APPLYING THE PERIODIC INVENTORY SYSTEM 306 Transactions Related to Purchases of Merchandise 307 Transactions Related to Sales of Merchandise 308 INTERNAL CONTROL: BASIC COMPONENTS AND CONTROL ACTIVITIES 309 7 Short-Term Financial Assets ¦ DECISION POINT Pioneer Corporation 340 management issues related to short-term Financial Assets 342 Managing Cash Needs During Seasonal Cycles 342 ¦ Focus on Business practice What a Difference a Year Makes! 343 Setting Credit Policies 343 ¦ Focus on Business practice Why Powerful Buyers Can Cause Headaches for Small Businesses 343 Financing Receivables 345 Cash and Cash equivalents 346 Chapter Review 273 Review of Learning Objectives 273 Review of Concepts and Terminology 274 Review Problem 276 Answer to Review Problem 276 Chapter Assignments 277 Questions 277 Short Exercises 278 Exercises 280 Problems 283 Alternate Problems 285 Skills Development Cases 287 Financial Reporting and Analysis Cases 289 1 Control 294 Management s Responsibility for Internal Control 309 Components of Internal Control 310 Control Activities 310 ¦ Focus on Business Ethics Which Frauds Are Most Common? 311 Limitations of Internal Control 311 Internal Control over Merchandising Transactions 312 Internal Control and Management Coals 312 Control of Cash Sales Receipts 313 Control of Purchases and Cash Disbursements 314 ¦ Focus on Business technology How Do Computers Influence Internal Controls? 314 ACCOUNTING FOR DISCOUNTS 318 Sales Discounts 318 Purchases Discounts 318 Chapter Review 319 Review of Learning Objectives 319 Review of Concepts and Terminology 320 Review Problem 322 Answer to Review Problem 322 Chapter Assignments 324 Questions 324 Short Exercises 325 Exercises 326 Problems 330 Alternate Problems 333 Skills Development Cases 335 Financial Reporting and Analysis Cases 337 340 ¦ Focus on Business Ethics What About the Unlawful Use of EFT? 347 SHORT-TERM INVESTMENTS 347 Held-to-Maturity Securities 348 Trading Securities 348 Available-for-Sale Securities 350 Dividend and Interest Income 350 ACCOUNTS RECEIVABLE 351 Uncollectible Accounts and the Direct Charge-Off Method 351 Uncollectible Accounts and the Allowance Method 352 ¦ Focus on Business Practice Selling Goods and Services is Only Half the Problem. 353 Estimating Uncollectible Accounts Expense 353 ¦ Focus on International Business Why Companies in Emerging Economies Must Adapt Accounting Practices 354 Writing Off an Uncollectible Account 357 Recovery of Accounts Receivable Written Off 357 Notes Receivable 358 Computations for Promissory Notes 358 ¦ Focus on Business Practice How Long Is a Year? It Depends. 359 8 Inventories ¦ DECISION POINT J.C Penney Company, Inc. 382 MANAGEMENT ISSUES ASSOCIATED WITH ACCOUNTING FOR INVENTORIES 384 Applying the Matching Rule to Inventories 384 ¦ VIDEO CASE J.C. Penney Company, Inc. 385 Assessing the Impact of Inventory Decisions 385 Evaluating the Level of Inventory 386 ¦ Focus on Business Technology Dell s Inventory Turnover Can Make Your Head Spin. 386 ¦ Focus on Business practice What a Headache! 388 Inventory Cost and Goods Flow 388 Merchandise in Transit 388 Merchandise on Hand Not Included in Inventory 389 Goods Flow Versus Cost Flow 389 METHODS OF PRICING INVENTORY AT COST UNDER THE PERIODIC INVENTORY SYSTEM 389 Specific Identification Method 390 Average-Cost Method 390 First-ln, First-Out (FIFO) Method 391 Last-In, First-Out (LIFO) Method 391 ¦ Focus on Business Practice What s a Category Killer? 392 Pricing Inventory Under the perpetual Inventory System 393 ¦ Focus on Business technology More Companies Enjoy LIFO! 394 9 Current Liabilities ¦ DECISION POINT US Airways, Inc. 420 Management Issues Related to Accounting for current liabilities 422 Managing Liquidity and Cash Flows 422 Contents JX Accounting Entries for Promissory Notes 360 PREPARING A BANK RECONCILIATION 362 Chapter Review 364 Review of Learning Objectives 364 Review of Concepts and Terminology 365 Review Problem 367 Answer to Review Problem 368 Chapter Assignments 368 Questions 368 Short Exercises 369 Exercises 370 Problems 373 Alternate Problems 375 Skills Development Cases 378 Financial Reporting and Analysis Cases 380 382 COMPARISON AND IMPACT OF INVENTORY DECISIONS AND MlSSTATEMENTS 395 Effects on the Financial Statements 396 Effects on Income Taxes 396 ¦ Focus on Business practice Does a Company s Accounting Method Affect Management s Operating Decisions? 397 Effects of Misstatements in Inventory Measurement 397 ¦ Focus on Business ethics The Temptation to Overstate Inventories 398 Inventory Measurement and Cash Flows 399 Valuing Inventory at the lower of Cost or MARKET (LCM) 399 ¦ Focus on Business Practice How Bad Can It Get? 400 Item-by-ltem Method 400 Major Category Method 400 VALUING INVENTORY BY ESTIMATION 401 Retail Method of Inventory Estimation 401 Gross Profit Method of Inventory Estimation 402 Chapter Review 403 Review of Learning Objectives 403 Review of Concepts and Terminology 404 Review Problem 405 Answer to Review Problem 405 Chapter Assignments 408 Questions 408 Short Exercises 409 Exercises 410 Problems 413 Alternate Problems 414 Skills Development Cases 415 Financial Reporting and Analysis Cases 417 420 ¦ Focus on Business practice Debt Problems Can Plague Even Well-Known Companies. 424 Recognition of Liabilities 424 Valuation of Liabilities 424 Classification of Liabilities 424 X Contents Disclosure of Liabilities 425 COMMON CATEGORIES OF CURRENT LIABILITIES 425 Definitely Determinable Liabilities 425 ¦ Focus on Business practice Small Businesses Offer Benefits, Too. 428 Estimated Liabilities 431 ¦ Focus on Business practice Those Little Coupons Can Add Up. 432 ¦ Focus on Business Practice Are Frequent-Flier Miles a Liability or a Revenue? 433 CONTINGENT LIABILITIES AND COMMITMENTS 434 PAYROLL ACCOUNTING ILLUSTRATED 434 Computation of an Employee s Take-Home Pay 434 10 Long-Term Assets ¦ DECISION POINT H. J. Heinz Company 452 Management issues related to Accounting for long-Term assets 454 a VIDEO CASE Fermi National Accelerator Laboratory 455 Deciding to Acquire Long-Term Assets 455 Financing Long-Term Assets 457 Applying the Matching Rule to Long-Term Assets 458 ACQUISITION COST OF PROPERTY, PLANT, AND EQUIPMENT 459 The Importance of Classifying Expenditures Correctly 459 General Approach to Acquisition Costs 459 ¦ FOCUS ON BUSINESS ETHICS Is It an Asset or Expense? The Answer Matters. 461 Accounting for Depreciation 46i Factors That Affect the Computation of Depreciation 462 ¦ Focus on Business Practice The Useful Life of an Aircraft Is How Long? 462 Methods of Computing Depreciation 463 ¦ FOCUS ON BUSINESS PRACTICE Accelerated Methods Save Money! 466 Disposal of Depreciable assets 466 Discard or Sale of Plant Assets 466 Exchanges of Plant Assets 468 Accounting for Natural Resources 470 Depletion 470 Depreciation of Closely Related Plant Assets 471 11 Long-Term Liabilities ¦ DECISION POINT AT T Corporation 498 MANAGEMENT ISSUES RELATED TO ISSUING LONG- Tcnmi ncuT 500 Payroll Register 436 Recording the Payroll 437 Employee Earnings Record 437 ¦ Focus on Business Ethics Why Is Payroll Fraud Common? 438 Recording Payroll Taxes 438 Payment of Payroll and Payroll Taxes 438 Chapter Review 439 Review of Learning Objectives 439 Review of Concepts and Terminology 439 Review Problem 440 Answer to Review Problem 440 Chapter Assignments 441 Questions 441 Short Exercises 442 Exercises 443 Problems 445 Alternate Problems 447 Skills Development Cases 448 Financial Reporting and Analysis Cases 450 452 Development and Exploration Costs in the Oil and Gas Industry 471 ACCOUNTING FOR INTANGIBLE ASSETS 472 ¦ Focus on Business Practice Take a Closer Look at Subscriber Lists! 474 Research and Development Costs 474 ¦ Focus on International Business Lack of Comparability Is a Real Problem! 474 Computer Software Costs 475 Leasehold Improvements 475 Goodwill 475 ¦ Focus on Business practice Wake up, Goodwill Is Growing! 476 SPECIAL PROBLEMS OF DEPRECIATING PLANT ASSETS 476 Depreciation for Partial Years 476 Revision of Depreciation Rates 477 Group Depreciation 478 Special Types of Capital Expenditures 478 Cost Recovery for Federal Income Tax Purposes 479 Chapter Review 479 Review of Learning Objectives 479 Review of Concepts and Terminology 480 Review Problem 482 Answer to Review Problem 483 Chapter Assignments 484 Questions 484 Short Exercises 485 Exercises 486 Problems 488 Alternate Problems 490 Skills Development Cases 492 Financial Reporting and Analysis Cases 494 498 The Decision to Issue Long-Term Debt 500 ¦ Focus on International business Pushed to the Brink of Failure 501 How Much Debt to Carry 501 Types of Long-Term Debt 502 Timing of Long-Term Debt Repayment 502 The Nature of Bonds 503 Secured or Unsecured Bonds 503 Term or Serial Bonds 503 Registered or Coupon Bonds 503 ¦ FOCUS ON INTERNATIONAL BUSINESS Choice of Bank Debt Cripples Japanese Firms. 504 Accounting for Bonds Payable 504 Balance Sheet Disclosure of Bonds 504 Bonds Issued at Face Value 504 Face Interest Rate and Market Interest Rate 505 ¦ FOCUS ON BUSINESS PRACTICE Check Out Those Bond Prices! 505 Bonds Issued at a Discount 506 Bonds Issued at a Premium 506 ¦ Focus on Business Practice 100-Year Bonds Are Not for Everyone. 507 Bond Issue Costs 507 Using Present Value to Value a Bond 507 amortization of bond discounts and premiums 508 12 Contributed Capital ¦ DECISION POINT Cisco Systems, Inc. 538 Management Issues Related to Contributed Capital 540 Forming a Corporation 540 Managing Under the Corporate Form of Business 541 Using Equity Financing 543 Determining Dividend Policies 544 Evaluating Performance Using Return on Equity 545 Using Stock Options as Compensation 546 ¦ Focus on Business practice When Are Stock Options Worthless? Apparently Never! 547 Components of Stockholders Equity 547 ¦ Focus on International Business Hot New European Stock Markets Have Cooled! 547 Dividends 548 The Characteristics of preferred Stock 549 Preference as to Dividends 549 ¦ Focus on Business Practice Why Did Microsoft Issue Preferred Stock? 550 Preference as to Assets 551 Contents xi Amortizing a Bond Discount 508 Amortizing a Bond Premium 512 ¦ FOCUS ON BUSINESS TECHNOLOGY Speed Up the Calculations! 514 Other bonds Payable issues 515 Sale of Bonds Between Interest Dates 515 Year-End Accrual of Bond Interest Expense 516 RETIREMENT OF BONDS 518 Callable Bonds 518 Convertible Bonds 519 Other Long-term Liabilities 520 Mortgages Payable 520 Long-Term Leases 520 Pensions 522 Other Postretirement Benefits 523 Chapter Review 523 Review of Learning Objectives 523 Review of Concepts and Terminology 525 Review Problem 526 Answer to Review Problem 527 Chapter Assignments 528 Questions 528 Short Exercises 528 Exercises 529 Problems 531 Alternate Problems 533 Skills Development Cases 534 Financial Reporting and Analysis Cases 535 538 Convertible Preferred Stock 551 Callable Preferred Stock 552 ACCOUNTING FOR STOCK ISSUANCE 552 Par Value Stock 553 No-Par Stock 554 Issuance of Stock for Noncash Assets 554 Accounting for treasury Stock 555 Purchase of Treasury Stock 556 Sale of Treasury Stock 556 ¦ Focus on Business practice When Are Share Buybacks a Bad Idea? 557 Retirement of Treasury Stock 557 Chapter Review 558 Review of Learning Objectives 558 Review of Concepts and Terminology 559 Review Problem 561 Answer to Review Problem 561 Chapter Assignments 563 Questions 563 Short Exercises 564 Exercises 565 Problems 567 Alternate Problems 568 Skills Development Cases 569 Financial Reporting and Analysis Cases 571 xii Contents The Corporate Income Statement and 13 Stockholders Equity ¦ DECISION POINT AMR Corporation 574 PERFORMANCE MEASUREMENT: QUALITY OF EARNINGS ISSUES 576 The Corporate Income Statement 576 ¦ Focus on Business practice Why Do Investors Study Quality of Earnings? 576 Choice of Accounting Methods and Estimates 577 Cains and Losses 579 Write-Downs and Restructurings 579 Nature of Nonoperating Items 579 ¦ FOCUS ON BUSINESS ETHICS Whistle-Blowing 580 Effect of Quality of Earnings on Cash Flows and Performance Measures 580 INCOME TAXES EXPENSE 581 Deferred Income Taxes 582 Net of Taxes 583 NONOPERATING ITEMS 584 Discontinued Operations 584 Extraordinary Items 584 Accounting Changes 585 ¦ FOCUS ON INTERNATIONAL BUSINESS Were Preussag s Year-End Results Really Remarkable ? 585 14 The Statement of Cash Flows ¦ DECISION POINT Marriott International, Inc. 610 * VIDEO CASE Goodyear Tire Rubber Company 613 OVERVIEW OF THE STATEMENT OF CASH FLOWS 613 Purposes of the Statement of Cash Flows 614 Internal and External Uses of the Statement of Cash Flows 614 Classification of Cash Flows 614 ¦ FOCUS ON INTERNATIONAL BUSINESS How Universal Is the Statement of Cash Flows? 616 Format of the Statement of Cash Flows 616 ANALYZING THE STATEMENT OF CASH FLOWS 616 Cash-Generating Efficiency 616 Free Cash Flow 617 ¦ FOCUS ON BUSINESS PRACTICE What Do You Mean, Free Cash Flow ? 618 ¦ Focus on Business Practice Cash Flows Tell All. 618 Preparing the Statement of Cash Flows: Operating activities 619 Depreciation 622 the Statement of 574 Earnings Per Share 586 The Statement of Stockholders Equity 588 Retained Earnings 588 ¦ Focus on International Business Why Are Reserves Common in Other Countries? 590 Restriction on Retained Earnings 590 accounting for stock dividends and Stock Splits 590 Stock Dividends 590 Stock Splits 593 ¦ Focus on Business practice Do Stock Splits Help Increase a Company s Market Price? 593 BOOK VALUE 594 Chapter Review 595 Review of Learning Objectives 595 Review of Concepts and Terminology 597 Review Problem 598 Answer to Review Problem 598 Chapter Assignments 600 Questions 600 Short Exercises 601 Exercises 602 Problems 604 Alternate Problems 607 Skills Development Cases 608 Financial Reporting and Analysis Cases 610 610 Cains and Losses 622 Changes in Current Assets 623 Changes in Current Liabilities 623 ¦ FOCUS ON BUSINESS PRACTICE What s Your Burn Rate ? 624 Schedule of Cash Flows from Operating Activities 624 PREPARING THE STATEMENT OF CASH FLOWS: INVESTING ACTIVITIES 624 Investments 625 Plant Assets 626 PREPARING THE STATEMENT OF CASH FLOWS: FINANCING ACTIVITIES 627 Bonds Payable 627 Common Stock 628 Retained Earnings 628 Treasury Stock 628 Chapter Review 630 Review of Learning Objectives 630 Review of Concepts and Terminology 630 Review Problem 631 Answer to Review Problem 633 Chapter Assignments 634 Questions 634 Short Exercises 635 Exercises 636 Problems 639 Alternate Problems 642 15 The Changing Business Environment: A ¦ DECISION POINT Honda Motor Company 656 THE ROLE OF MANAGEMENT ACCOUNTING 658 Management Accounting and Financial Accounting: A Comparison 658 ¦ Focus on Business Practice Why Is Management Accounting Vitally Important to Excellent Companies? 658 Management Accounting and the Management Cycle 660 Value Chain Analysis 664 Primary Processes and Support Services 665 Advantages of Value Chain Analysis 666 Management Accounting s Support of Value Chain Analysis 666 ¦ FOCUS ON BUSINESS TECHNOLOGY How Can the Internet Be Used to Support the Value Chain? 666 MEETING THE DEMANDS OF GLOBAL COMPETITION 668 Management Tools for Continuous Improvement 668 Achieving Continuous Improvement 670 ¦ FOCUS ON INTERNATIONAL BUSINESS How Has Ecommerce Changed the Nature of Business? 671 16 Cost Concepts and Cost Allocation ¦ DECISION POINT Southwest Airlines 698 Cost Information and the Management Cycle 700 Use of Cost Information in the Management Cycle 700 Cost Information and Organizations 701 Cost Classifications and Their Uses 701 Cost Traceability 702 ¦ FOCUS ON BUSINESS PRACTICE How Does an Airline Manage Its Fixed Costs? 703 Cost Behavior 703 Value-Adding Versus Nonvalue-Adding Costs 703 Cost Classifications for Financial Reporting 703 Elements of product costs 704 ¦ Focus on Business Technology Has Technology Shifted the Elements of Product Costs? 705 Computing Product Unit Cost 705 Prime Costs and Conversion Costs 707 inventory accounts in manufacturing Organizations 707 Contents xii Skills Development Cases 645 Financial Reporting and Analysis Cases 648 Manager s Perspective 656 Performance Measures: a Key to achieving Organizational Objectives 671 Use of Performance Measures in the Management Cycle 671 The Balanced Scorecard 672 ¦ Focus on Business practice Do Many Companies Use the Balanced Scorecard? 672 Benchmarking 673 Analysis of nonfinancial Data in a Service Organization 674 Standards of Ethical Conduct 674 ¦ Focus on Business Ethics What Is Management s Responsibility for the Financial Statements? 676 Chapter Review 678 Review of Learning Objectives 678 Review of Concepts and Terminology 679 Review Problem 680 Answer to Review Problem 681 Chapter Assignments 682 Questions 682 Short Exercises 682 Exercises 684 Problems 688 Alternate Problems 691 Skills Development Cases 693 Managerial Reporting and Analysis Cases 696 698 Document Flows and Cost Flows Through the Inventory Accounts 708 The Manufacturing Cost Flow 710 financial statements and the reporting of Costs 711 Statement of Cost of Goods Manufactured 711 Cost of Goods Sold and a Manufacturing Organization s Income Statement 713 Cost Reporting and Accounting for Inventories in Service, Retail, and Manufacturing Organizations 713 ¦ Focus on Business practice What Candy Company Has the Sweetest Share of the U.S. Market? 713 COST ALLOCATION 715 Allocating the Costs of Manufacturing Overhead 716 The Importance of Good Estimates 718 allocating manufacturing overhead: The Traditional Approach 718 allocating manufacturing overhead: the abc approach 720 xiv Contents ¦ Focus on Business Ethics What Can a Company Do to Be Resource-Responsible? 721 Planning Overhead Rates 721 Applying the Overhead Rates 722 ¦ Focus on Business Practice How Costly Is Television Talent? 724 Cost Allocation in Service Organizations 724 17 Costing Systems: Job Order Costing ¦ DECISION POINT John H. Daniel Company 746 PRODUCT COST INFORMATION AND THE MANAGEMENT CYCLE 748 Planning 748 Executing 748 Reviewing 748 Reporting 748 Job Order Versus process Costing 749 ¦ Focus on International Business Why Does Toyota Use a Hybrid Product Costing System? 751 JOB ORDER COSTING IN A MANUFACTURING COMPANY 751 Materials 754 Labor 754 Manufacturing Overhead 754 ¦ Focus on Business Practice How Long Does Production Take? 755 Completed Units 755 Sold Units 755 18 Costing Systems: Process Costing ¦ DECISION POINT Intel Corporation 782 THE PROCESS COSTING SYSTEM 784 ¦ Focus on Business Practice What Kinds of Companies Use Process Costing? 785 Patterns of product flows and Cost Flow Methods 785 Costs Flows Through the work in Process Inventory Accounts 787 ¦ Focus on Business Ethics How Hard Is It to Detect Fraud? 787 COMPUTING EQUIVALENT PRODUCTION 787 Equivalent Production for Direct Materials 788 Equivalent Production for Conversion Costs 789 PREPARING A PROCESS COST REPORT USING THE FIFO COSTING METHOD 789 Chapter Review 725 Review of Learning Objectives 725 Review of Concepts and Terminology 727 Review Problem 728 Answer to Review Problem 729 Chapter Assignments 730 Questions 730 Short Exercises 730 Exercises 732 Problems 735 Alternate Problems 738 Skills Development Cases 740 Managerial Reporting and Analysis Cases 742 746 Reconciliation of Manufacturing Overhead Costs 756 A Manufacturer s Job Order Cost Card and the Computation of product unit cost 756 ¦ Focus on Business Ethics Does a Product s Unit Cost Tell the Whole Story? 756 job Order costing in a Service Organization 757 Job Order Costing versus Project Costing 758 ¦ Focus on Business Technology Who Uses Project Costing? 759 Chapter Review 759 Review of Learning Objectives 759 Review of Concepts and Terminology 760 Review Problem 761 Answer to Review Problem 762 Chapter Assignments 763 Questions 763 Short Exercises 764 Exercises 766 Problems 771 Alternate Problems 774 Skills Development Cases 777 Managerial Reporting and Analysis Cases 779 782 Accounting for Units 789 Accounting for Costs 791 Assigning Costs 792 ¦ Focus on International Business How Do Businesses Today Handle the Costs of Scrap and Rework? 792 ¦ Focus on Business technology Does Technology Make a Difference? 793 Process Costing for Two or More Production Departments 793 PREPARING A PROCESS COST REPORT USING THE AVERAGE COSTING METHOD 794 Accounting for Units 794 Accounting for Costs 794 Assigning Costs 796 USING INFORMATION ABOUT PRODUCT COST TO EVALUATE PERFORMANCE 797 Chapter Review 797 Review of Learning Objectives 797 Review of Concepts and Terminology 799 Review Problem 799 Answer to Review Problem 800 Chapter Assignments 802 Questions 802 Short Exercises 803 Exercises 804 Problems 806 Alternate Problems 808 19 Activity-Based Systems: ABM and JI ¦ DECISION POINT England, Inc. 814 ACTIVITY-BASED SYSTEMS AND MANAGEMENT 816 Activity-Based Systems 816 Using Activity-Based Cost Information in the Management Cycle 817 Activity-Based Management sis ¦ FOCUS ON BUSINESS PRACTICE How Do Traditional and ABC Reports Differ? 819 Value Chains and Supply Chains 819 ¦ FOCUS ON BUSINESS PRACTICE How Can a Changing Business Economy Cause Strategy Shifts in a Company s Value Chain? 819 ABM in a Service Organization 820 VALUE-ADDING AND NONVALUE-ADDING ACTIVITIES AND PROCESS VALUE ANALYSIS 822 Value-Adding and Nonvalue-Adding Activities in a Service Organization 822 ¦ FOCUS ON BUSINESS PRACTICE What Is VBM? 823 Process Value Analysis 823 ACTIVITY-BASED COSTING 824 The Cost Hierarchy and the Bill of Activities 824 Activity-Based Costing for Selling and Administrative Activities 827 20 Cost Behavior Analysis ¦ DECISION POINT Kraft Foods 854 Cost behavior and the Management cycle 856 Planning 856 Executing 856 Reviewing and Reporting 856 ¦ Focus on Business Ethics Core Values Guide Kraft Foods. 856 The Behavior of Costs 857 Variable Costs 858 Fixed Costs 861 Mixed Costs 862 Contents XV Skills Development Cases 809 Managerial Reporting and Analysis Cases 811 T 814 The New Manufacturing Environment and JIT Operations 828 Minimum Inventory Levels 829 Pull-Through Production 829 Quick Setup and Flexible Work Cells 829 ¦ Focus on International Business Is JIT Right for Every Business? 830 A Multiskilled Work Force 830 High Levels of Product Quality 830 Effective Preventive Maintenance 830 Continuous Improvement of the Work Environment 831 ACCOUNTING FOR PRODUCT COSTS IN THE NEW MANUFACTURING ENVIRONMENT 831 Classifying Costs 831 Assigning Costs 831 BACKFLUSH COSTING 832 Comparison of ABM and JIT 835 Chapter Review 836 Review of Learning Objectives 836 Review of Concepts and Terminology 837 Review Problem 839 Answer to Review Problem 839 Chapter Assignments 841 Questions 841 Short Exercises 841 Exercises 842 Problems 846 Alternate Problems 848 Skills Development Cases 850 Managerial Reporting and Analysis Cases 851 854 ¦ FOCUS ON BUSINESS TECHNOLOGY High-Priced vs. Low-Priced Seats 863 Cost-Volume-Profit analysis 865 ¦ FOCUS ON INTERNATIONAL BUSINESS C-V-P Analysis in Grams and Liters 866 BREAKEVEN ANALYSIS 866 Using Contribution Margin to Determine the Breakeven Point 868 ¦ FOCUS ON BUSINESS PRACTICE Supersizing Value Meals 868 The Breakeven Point for Multiple Products 869 xvi Contents USING C-V-P ANALYSIS TO PLAN FUTURE SALES, COSTS, AND PROFITS 870 Applying C-V-P to a Manufacturing Business 870 Applying C-V-P Analysis to a Service Business 874 Chapter Review 876 Review of Learning Objectives 876 Review of Concepts and Terminology 877 Review Problem 877 Answer to Review Problem 878 21 The Budgeting Process ¦ DECISION POINT Johnson Johnson 892 THE BUDGETING PROCESS 894 Budgeting and Coals 894 ¦ Focus on business practice What Can Cause the Planning Process to Fail? 894 ¦ VIDEO CASE Enterprise Rent-A-Car 895 ¦ Focus on International Business Budget Revision Practices in the United Kingdom 896 The Importance of Participation 896 Budgeting and the Management Cycle 896 THE MASTER BUDGET 898 ¦ Focus on Business Technology Rolling Budgets Never End. 898 Operating Budgets 901 The Sales Budget 901 The Production Budget 902 The Direct Materials Purchases Budget 904 The Direct Labor Budget 904 22 Standard Costing and Variance Analy ¦ DECISION POINT Coach, Inc. 938 Standard Costing 940 Standard Costs and the Management Cycle 940 ¦ Focus on Business Practice Why Go on a Factory Tour? 940 The Relevance of Standard Costing in Today s Business Environment 941 Computing Standard Costs 942 Standard Direct Materials Cost 942 Standard Direct Labor Cost 942 Standard Manufacturing Overhead Cost 943 Total Standard Unit Cost 943 VARIANCE ANALYSIS 944 The Role of Flexible Budgets in Variance Analysis 944 ¦ Focus on business technology Why Complicate the Flexible Budget? 945 Chapter Assignments 879 Questions 879 Short Exercises 879 Exercises 880 Problems 884 Alternate Problems 886 Skills Development Cases 887 Managerial Reporting and Analysis Cases 889 892 The Manufacturing Overhead Budget 905 The Selling and Administrative Expense Budget 907 The Cost of Goods Manufactured Budget 908 FINANCIAL BUDGETS 908 The Budgeted Income Statement 908 The Capital Expenditures Budget 909 The Cash Budget 910 ¦ Focus on Business Ethics Does Budgeting Lead to a Breakdown in Corporate Ethics? 912 The Budgeted Balance Sheet 912 BUDGET IMPLEMENTATION 915 Chapter Review 915 Review of Learning Objectives 915 Review of Concepts and Terminology 916 Review Problem 917 Answer to Review Problem 918 Chapter Assignments 919 Questions 919 Short Exercises 920 Exercises 921 Problems 925 Alternate Problems 931 Skills Development Cases 932 Managerial Reporting and Analysis Cases 936 Sis 938 Using Variance Analysis to Control Costs 946 Computing and analyzing Direct materials variances 948 Computing Direct Materials Variances 948 Analyzing and Correcting Direct Materials Variances 949 Computing and Analyzing direct Labor Variances 950 Computing Direct Labor Variances 950 Analyzing and Correcting Direct Labor Variances 951 COMPUTING AND ANALYZING MANUFACTURING OVERHEAD VARIANCES 952 Using a Flexible Budget to Analyze Manufacturing Overhead Variances 953 Computing Manufacturing Overhead Variances 954 Analyzing and Correcting Manufacturing Overhead Variances 958 ¦ Focus on International business Have You Bought Gold Medal Sneakers Yet? 958 USING COST VARIANCES TO EVALUATE MANAGERS PERFORMANCE 959 ¦ Focus on Business Ethics Ethics = Profits 959 Chapter Review 961 Review of Learning Objectives 961 Review of Concepts and Terminology 962 Review Problem 963 Answer to Review Problem 964 23 Performance Management and Eval ¦ DECISION POINT Vail Resorts 980 ORGANIZATIONAL GOALS AND THE BALANCED SCORECARD 982 The Balanced Scorecard and the Management Cycle 982 ¦ VIDEO CASE Harley-Davidson, Inc. 983 ¦ FOCUS ON BUSINESS PRACTICE How Many Stakeholder Groups Has Harley Identified? 983 Performance Measurement 986 What to Measure, How to Measure 986 Other Measurement Issues 986 ¦ FOCUS ON INTERNATIONAL BUSINESS Old Doesn t Mean Out-of-Date. 986 Responsibility Accounting 987 Types of Responsibility Centers 987 Organizational Structure and Performance Management 988 ¦ FOCUS ON BUSINESS TECHNOLOGY Keep It Simple! 988 Performance Evaluation of cost Centers and Profit centers 990 Evaluating Cost Center Performance Using Flexible Budgeting 990 24 Short-Run Decision Analysis ¦ DECISION POINT Bank of America 1018 Short-Run decision analysis and the Management Cycle 1020 Planning 1020 Executing 1020 Reviewing 1021 ¦ Focus on Business ethics Have Financial Scandals Affected CFOs Workloads? 1022 Reporting 1022 incremental analysis for short-run Decisions 1022 Irrelevant Costs and Revenues 1022 ¦ Focus on Business technology How Much Does It Cost to Process a Check? 1024 Contents xvi Chapter Assignments 967 Questions 967 Short Exercises 968 Exercises 969 Problems 971 Alternate Problems 973 Skills Development Cases 974 Managerial Reporting and Analysis Cases 976 uation 980 Evaluating Profit Center Performance Using Variable Costing 991 ¦ Focus on Business ethics Soundproofing with Blue Jeans 993 Performance Evaluation of Investment Centers 993 Return on Investment 993 Residual Income 994 Economic Value Added 996 The Importance of Multiple Performance Measures 998 PERFORMANCE INCENTIVES AND GOALS 998 Linking Coals, Performance Objectives, Measures, and Performance Targets 998 Performance-Based Pay 998 The Coordination of Goals 999 Chapter Review 1000 Review of Learning Objectives 1000 Review of Concepts and Terminology 1001 Review Problem 1002 Answer to Review Problem 1003 Chapter Assignments 1004 Questions 1004 Short Exercises 1005 Exercises 1007 Problems 1010 Alternate Problems 1012 Skills Development Cases 1013 Managerial Reporting and Analysis Cases 1015 1018 Opportunity Costs 1024 incremental analysis for outsourcing Decisions 1024 Incremental Analysis for Special Order Decisions 1026 incremental analysis for segment profitability decisions 1028 ¦ Focus on Business Practice To Drop or Not to Drop a Segment? 1029 ¦ Focus on International Business Why Banks Prefer Ebanking 1030 INCREMENTAL ANALYSIS FOR SALES MIX DECISIONS 1030 xviii Contents INCREMENTAL ANALYSIS FOR SELL OR PROCESS- FURTHER Decisions 1032 Chapter Review 1034 Review of Learning Objectivces 1034 Review of Concepts and Terminology 1035 Review Problem 1035 Answer to Review Problem 1036 25 Pricing Decisions, Including Target ¦ DECISION POINT Palm, Inc. 1052 The Pricing decision and the Manager 1054 The Objectives of a Pricing Policy 1054 ¦ VIDEO CASE Nokia Corporation 1055 Pricing and the Management Cycle 1056 ECONOMIC PRICING CONCEPTS 1058 Total Revenue and Total Cost Curves 1058 Marginal Revenue and Marginal Cost Curves 1058 ¦ Focus on Business Technology What s It Worth to Shop Online? 1060 Auction-Based Pricing 1060 ¦ Focus on Business Ethics How Big a Problem Is Fraud on the Internet? 1060 Cost-Based pricing methods 1061 Cross Margin Pricing 1061 Return on Assets Pricing 1062 Summary of Cost-Based Pricing Methods 1063 Pricing Services 1063 ¦ Focus on Business Practice Pricing a Six-Pack 1064 26 Capital Investment Analysis ¦ DECISION POINT Air Products and Chemicals Inc. 1094 THE CAPITAL INVESTMENT PROCESS 1096 Capital Investment Analysis 1096 Capital Investment Analysis in the Management Cycle 1097 The Minimum Rate of Return on Investment 1100 Cost of Capital 1100 ¦ Focus on International Business Why Look Beyond the Cost of a Capital Investment? 1101 Other Cutoff Measures 1101 Ranking Capital Investment Proposals 1101 MEASURES USED IN CAPITAL INVESTMENT ANALYSIS 1102 Net Income and Net Cash Inflows 1102 Equal Versus Unequal Cash Flows 1102 Carrying Value of Assets 1102 Chapter Assignments 1037 Questions 1037 Short Exercises 1038 Exercises 1039 Problems 1044 Alternate Problems 1046 Skills Development Cases 1048 Managerial Reporting and Analysis Cases 1049 Costing and Transfer Pricing 1052 Final Notes on Cost-Based Pricing Methods 1065 PRICING BASED ON TARGET COSTING 1065 Illustrative Problem: Target Costing 1068 ¦ Focus on International Business What Is Kaizen Costing? 1070 pricing for internal providers of goods and Services 1070 Transfer Pricing 1070 Developing a Transfer Price 1071 Using Transfer Prices to Measure Performance 1073 Transfer Pricing in Retail and Service Companies 1073 Chapter Review 1075 Review of Learning Objectives 1075 Review of Concepts and Terminology 1076 Review Problem 1077 Answer to Review Problem 1078 Chapter Assignments 1079 Questions 1079 Short Exercises 1079 Exercises 1080 Problems 1084 Alternate Problems 1086 Skills Development Cases 1088 Managerial Reporting and Analysis Cases 1090 1094 ¦ Focus on Business Technology Counting Your Pennies a New Way 1102 Depreciation Expense and Income Taxes 1102 Disposal or Residual Values 1103 THE TIME VALUE OF MONEY 1103 Interest 1104 Present Value 1104 Present Value of a Single Sum Due in the Future 1105 Present Value of an Ordinary Annuity 1105 ¦ Focus on Business Practice How Would You Decide Whether to Buy Rare Dinosaur Bones? 1106 THE NET PRESENT VALUE METHOD 1107 Advantages of the Net Present Value Method 1107 The Net Present Value Method Illustrated 1107 ¦ Focus on Business Ethics Why Are Luxury-Car Makers Interested in Used Cars? 1108 Other Methods of Capital Investment analysis 1109 The Payback Period Method 1109 The Accounting Rate-of-Return Method 1110 Chapter Review 1111 Review of Learning Objectives 1111 Review of Concepts and Terminology 1112 Review Problem 1112 Answer to Review Problem 1113 2 7 Quality Management and Measuren ¦ DECISIONPOINTAmazon.com 1126 The Role of Management information Systems in Quality Management i 728 Enterprise Resource Planning Systems 1128 ¦ Focus on Business Technology Use Prepackaged Software or Build Your Own? 1128 Using MIS in the Management Cycle 1129 Financial and Nonfinancial Measures of Quality 1130 Financial Measures of Quality 1130 ¦ Focus on Business Practice SDWT Managers Have to Walk the Walk 1132 Nonfinancial Measures of Quality 1132 Measuring Service Quality 1134 ¦ Focus on International Business Don t Judge Me on a Good Speech 1134 28 Financial Performance Evaluation • DECISION POINT Sun Microsystems 1160 Financial Performance evaluation by internal and External users 1162 Financial Performance Evaluation and the Management Cycle 1162 Financial Performance Evaluation by External Users 1163 Financial Reporting Under the Sarbanes-Oxley Act 1164 Standards for Financial Statement Analysis ii65 Rule-of-Thumb Measures 1165 Past Performance of the Company 1165 Industry Norms 1165 ¦ Focus on business Ethics Take the Numbers with a Grain of Salt. 1167 SOURCES OF INFORMATION 1167 Reports Published by the Company 1167 ¦ FOCUS ON BUSINESS TECHNOLOGY Find It on the Internet. 1168 SEC Reports 1168 Contents xix Chapter Assignments 1114 Questions 1114 Short Exercises 1115 Exercises 1116 Problems 1118 Alternate Problems 1120 Skills Development Cases 1121 Managerial Reporting and Analysis Cases 1122 nent l ] 26 ILLUSTRATIVE PROBLEM: MEASURING QUALITY 1135 Evaluating the Costs of Quality 1135 Evaluating Nonfinancial Measures of Quality 1139 THE EVOLVING CONCEPT OF QUALITY 1141 ¦ Focus on Business Practice TQM Does Make a Difference 1141 RECOGNITION OF QUALITY 1141 Chapter Review 1142 Review of Learning Objectives 1142 Review of Concepts and Terminology 1143 Review Problem 1144 Answer to Review Problem 1145 Chapter Assignments 1146 Questions 1146 Short Exercises 1146 Exercises 1147 Problems 1151 Alternate Problems 1153 Skills Development Cases 1155 Managerial Reporting and Analysis Cases 1156 1160 Business Periodicals and Credit and Investment Advisory Services 1168 TOOLS AND TECHNIQUES OF FINANCIAL ANALYSIS 1170 Horizontal Analysis 1170 Trend Analysis 1171 Vertical Analysis 1173 Ratio Analysis 1176 Comprehensive illustration of ratio Analysis 1176 Evaluating Liquidity 1177 ¦ Focus on Business Practice There s More Than One Way to Measure Profitability. 1179 Evaluating Profitability 1179 Evaluating Long-Term Solvency 1180 Evaluating Cash Flow Adequacy 1181 Evaluating Market Strength 1181 Summary of the Financial Analysis of Sun Microsystems, Inc. 1183 XX Contents Chapter Review 1183 Review of Learning Objectives 1183 Review of Concepts and Terminology 1184 Review Problem 1185 Answer to Review Problem 1187 Chapter Assignments 1189 Questions 1189 Short Exercises 1189 Exercises 1191 Problems 1194 Alternate Problems 1198 Skills Development Cases 1200 Managerial Reporting and Analysis Cases 1201 Appendix A The Merchandising Work Sheet and Closing Entries 1205 Appendix B Special-Purpose Journals 1213 Appendix C Accounting for Unincorporated Businesses 1227 Appendix D International Accounting 1237 Appendix E Long-Term Investments 1244 Appendix F The Time Value of Money 1251 Appendix G Future Value and Present Value Tables 1264 Endnotes 1271 Company Name Index 1277 Subject Index 1280
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spelling	Needles, Belverd E. Verfasser aut Financial & managerial accounting Belverd E. Needles Financial and managerial accounting 7. ed. Boston [u.a.] Houghton Mifflin Comp. 2005 XLII, 1297 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Rechnungswesen (DE-588)4048732-5 gnd rswk-swf Management Accounting (DE-588)4125415-6 gnd rswk-swf Management Accounting (DE-588)4125415-6 s Rechnungswesen (DE-588)4048732-5 s 1\p DE-604 Powers, Marian Verfasser aut Crosson, Susan V. Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017294122&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
spellingShingle	Needles, Belverd E. Powers, Marian Crosson, Susan V. Financial & managerial accounting Rechnungswesen (DE-588)4048732-5 gnd Management Accounting (DE-588)4125415-6 gnd
subject_GND	(DE-588)4048732-5 (DE-588)4125415-6
title	Financial & managerial accounting
title_alt	Financial and managerial accounting
title_auth	Financial & managerial accounting
title_exact_search	Financial & managerial accounting
title_full	Financial & managerial accounting Belverd E. Needles
title_fullStr	Financial & managerial accounting Belverd E. Needles
title_full_unstemmed	Financial & managerial accounting Belverd E. Needles
title_short	Financial & managerial accounting
title_sort	financial managerial accounting
topic	Rechnungswesen (DE-588)4048732-5 gnd Management Accounting (DE-588)4125415-6 gnd
topic_facet	Rechnungswesen Management Accounting
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