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Intermediate Accounting 16th ed. [Kietas viršelis]

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(Northern Illinois University), (University of Wisconsin Madison), (University of Wisconsin Madison)
  • Formatas: Hardback, 1552 pages, aukštis x plotis x storis: 279x226x48 mm, weight: 3062 g
  • Išleidimo metai: 04-Apr-2016
  • Leidėjas: Wiley
  • ISBN-10: 1118743202
  • ISBN-13: 9781118743201
Kitos knygos pagal šią temą:
Intermediate Accounting 16th ed.Didesnis paveikslėlis
  • Formatas: Hardback, 1552 pages, aukštis x plotis x storis: 279x226x48 mm, weight: 3062 g
  • Išleidimo metai: 04-Apr-2016
  • Leidėjas: Wiley
  • ISBN-10: 1118743202
  • ISBN-13: 9781118743201
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9781118743201.html
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Kieso, Weygandt, and Warfield's Intermediate Accounting, 16th Edition continues to set the standard for students and professionals in the field. Kieso maintains the qualities for which the text is globally recognized, including its reputation for accuracy, comprehensiveness, accessibility, and quality problem material that best prepares students for success on the CPA exam and accounting careers. The 16th edition offers the most up-to-date coverage of US GAAP & IFRS in a presentational format suited to the complex challenges of teaching intermediate accounting in these changing times.

1 Financial Accounting and Accounting Standards 2(34)
We Can Do Better
2(2)
Financial Reporting Environment
4(3)
Accounting and Capital Allocation
4(1)
What Do the Numbers Mean? It's the Accounting
5(1)
Objective of Financial Reporting
5(1)
What Do the Numbers Mean? Don't Forget Stewardship
6(1)
The Need to Develop Standards
7(1)
Parties Involved In Standard-Setting
7(6)
Securities and Exchange Commission (SEC)
7(2)
American Institute of Certified Public Accountants (AICPA)
9(1)
Financial Accounting Standards Board (FASB)
9(4)
Generally Accepted Accounting Principles
13(2)
What Do the Numbers Mean? You Have to Step Back
13(1)
FASB Codification
13(2)
Major Challenges In Financial Reporting
15(14)
GAAP in a Political Environment
15(1)
Evolving Issue Fair Value, Fair Consequences?
16(1)
The Expectations Gap
16(1)
Financial Reporting Issues
17(1)
International Accounting Standards
18(2)
What Do the Numbers Mean? Can You Do That?
20(1)
Ethics in the Environment of Financial Accounting
20(1)
Conclusion
20(9)
IFRS Insights
29(7)
2 Conceptual Framework for Financial Reporting 36(42)
What Is It?
36(2)
Conceptual Framework
38(2)
Need for a Conceptual Framework
38(1)
What Do the Numbers Mean? What's Your Principle?
39(1)
Development of a Conceptual Framework
39(1)
Overview of the Conceptual Framework
40(1)
First Level: Basic Objective
40(1)
Second Level: Fundamental Concepts
41(8)
Qualitative Characteristics of Accounting Information
41(3)
What Do the Numbers Mean? Living in a Material World
44(2)
What Do the Numbers Mean? Show Me the Earnings!
46(2)
Basic Elements
48(1)
Third Level: Recognition And Measurement Concepts
49(24)
Basic Assumptions
50(1)
What Do the Numbers Mean? Whose Company Is It?
50(2)
Basic Principles of Accounting
52(5)
Cost Constraint
57(1)
Summary of the Structure
58(1)
What Do the Numbers Mean? Don't Count These Please
59(14)
FASB Codification
73(1)
IFRS Insights
74(4)
3 The Accounting Information System 78(74)
Needed: A Reliable Information System
78(2)
Accounting Information System
80(7)
Basic Terminology
80(1)
Debits and Credits
81(1)
The Accounting Equation
82(2)
Financial Statements and Ownership Structure
84(1)
The Accounting Cycle
85(2)
Record And Summarize Basic Transactions
87(5)
Journalizing
87(1)
Posting
88(4)
Trial Balance
92(1)
Adjusting Entries
92(12)
Types of Adjusting Entries
93(1)
Adjusting Entries for Deferrals
93(5)
Adjusting Entries for Accruals
98(5)
What Do the Numbers Mean? Am I Covered?
103(1)
Adjusted Trial Balance
104(1)
Preparing Financial Statements
104(6)
What Do the Numbers Mean? 24/7 Accounting
106(1)
Closing
106(3)
Post-Closing Trial Balance
109(1)
Reversing Entries—An Optional Step
109(1)
The Accounting Cycle Summarized
110(1)
What Do the Numbers Mean? Hey, It's Complicated
110(1)
Financial Statements For A Merchandising Company
110(3)
Income Statement
110(1)
Statement of Retained Earnings
111(1)
Balance Sheet
111(2)
What Do the Numbers Mean? Statements, Please
113(1)
Closing Entries
113(1)
Appendix 3a: Cash-Basis Accounting Versus Accrual-Basis Accounting
113(2)
Conversion From Cash Basis To Accrual Basis
115(3)
Service Revenue Computation
116(1)
Operating Expense Computation
117(1)
Theoretical Weaknesses Of The Cash Basis
118(1)
Appendix 3b: Using Reversing Entries
119(1)
Illustration Of Reversing Entries—accruals
119(1)
Illustration Of Reversing Entries—deferrals
120(1)
Summary Of Reversing Entries
121(1)
Appendix 3c: Using A Worksheet: The Accounting Cycle Revisited
121(1)
Worksheet Columns
121(2)
Trial Balance Columns
121(1)
Adjustments Columns
121(2)
Adjustments Entered On The Worksheet
123(1)
Adjusted Trial Balance
123(1)
Income Statement and Balance Sheet Columns
123(1)
Preparing Financial Statements From A Worksheet
124(23)
IFRS Insights
147(5)
4 Income Statement and Related Information 152(48)
Financial Statements Are Changing
152(2)
Income Statement
154(2)
Usefulness of the Income Statement
154(1)
Limitations of the Income Statement
154(1)
Quality of Earnings
155(1)
What Do the Numbers Mean? Four: The Loneliest Number
156(1)
Format Of The Income Statement
156(6)
Elements of the Income Statement
156(1)
Intermediate Components of the Income Statement
157(3)
What Do the Numbers Mean? Top Line or Bottom Line?
160(1)
Condensed Income Statements
160(1)
Single-Step Income Statements
161(1)
Reporting Various Income Items
162(8)
Unusual and Infrequent Gains and Losses
162(2)
Discontinued Operations
164(3)
Noncontrolling Interest
167(1)
Earnings per Share
167(2)
Summary of Various Income Items
169(1)
What Do the Numbers Mean? Different Income Concepts
169(1)
Other Reporting Issues
170(24)
Accounting Changes and Errors
170(2)
Retained Earnings Statement
172(1)
Comprehensive Income
173(3)
Evolving Issue Income Reporting
176(18)
FASB Codification
194(1)
IFRS Insights
195(5)
5 Balance Sheet and Statement of Cash Flows 200(66)
Hey, It Doesn't Balance!
200(2)
Balance Sheet
202(14)
Usefulness of the Balance Sheet
202(1)
Limitations of the Balance Sheet
202(1)
What Do the Numbers Mean? Grounded
203(1)
Classification in the Balance Sheet
203(7)
What Do the Numbers Mean? "Show Me the Assets!"
210(4)
What Do the Numbers Mean? Warning Signals
214(1)
Balance Sheet Format
214(2)
Statement Of Cash Flows
216(8)
What Do the Numbers Mean? Watch That Cash Flow
216(1)
Purpose of the Statement of Cash Flows
217(1)
Content and Format of the Statement of Cash Flows
217(1)
Preparation of the Statement of Cash Flows
218(3)
Usefulness of the Statement of Cash Flows
221(2)
What Do the Numbers Mean? "There Ought to Be a Law"
223(1)
Additional Information
224(7)
Supplemental Disclosures
224(2)
What Do the Numbers Mean? What About Your Commitments?
226(1)
Techniques of Disclosure
227(3)
Evolving Issue Balance Sheet Reporting: Gross or Net?
230(1)
Appendix 5a: Ratio Analysis—A Reference
231(1)
Using Ratios To Analyze Performance
231(26)
FASB Codification
257(1)
IFRS Insights
258(8)
6 Accounting and the Time Value of Money 266(58)
How Do I Measure Thai?
266(2)
Basic Time Value Concepts
268(6)
Applications of Time Value Concepts
268(1)
The Nature of Interest
269(1)
Simple Interest
270(1)
Compound Interest
270(1)
What Do the Numbers Mean? A Pretty Good Start
271(3)
Fundamental Variables
274(1)
Single-Sum Problems
274(5)
Future Value of a Single Sum
275(1)
Present Value of a Single Sum
276(2)
Solving for Other Unknowns in Single-Sum Problems
278(1)
Annuities (Future Value)
279(7)
Future Value of an Ordinary Annuity
280(2)
Future Value of an Annuity Due
282(2)
What Do the Numbers Mean? Don't Wait to Make That Contribution!
284(1)
Examples of Future Value of Annuity Problems
284(2)
Annuities (Present Value)
286(5)
Present Value of an Ordinary Annuity
286(2)
What Do the Numbers Mean? Up in Smoke
288(1)
Present Value of an Annuity Due
288(1)
Examples of Present Value of Annuity Problems
289(2)
Other Time Value Of Money Issues
291(21)
Deferred Annuities
291(2)
Valuation of Long-Term Bonds
293(1)
Effective-Interest Method of Amortization of Bond Discount or Premium
294(1)
Present Value Measurement
295(2)
What Do the Numbers Mean? How Low Can They Go?
297(15)
FASB Codification
312(12)
7 Cash and Receivables 324(62)
Luck Of The Irish
324(2)
Cash
326(3)
Reporting Cash
326(2)
Summary of Cash-Related Items
328(1)
What Do the Numbers Mean? Where Did I Park My Cash?
329(1)
Receivables
329(9)
Recognition of Accounts Receivable
330(4)
Valuation of Accounts Receivable
334(4)
Notes Receivable
338(5)
Recognition of Notes Receivable
338(4)
Valuation of Notes Receivable
342(1)
What Do the Numbers Mean? Please Release Me?
343(1)
Special Issues
343(9)
Fair Value Option
344(1)
Disposition of Accounts and Notes Receivable
344(5)
What Do the Numbers Mean? Securitizations—Good or Bad?
349(1)
Presentation and Analysis
350(2)
What Do the Numbers Mean? I'm Still Waiting
352(1)
Appendix 7a: Cash Controls
352(1)
Using Bank Accounts
353(1)
The Imprest Petty Cash System
353(2)
Physical Protection Of Cash Balances
355(1)
Reconciliation Of Bank Balances
355(3)
Appendix 7b: Collectability Assessment Based On Expected Cash Flows
358(1)
Measurement Of Collectability
358(24)
Example
358(1)
Recording Bad Debts
359(23)
FASB Codification
382(1)
IFRS Insights
383(3)
8 Valuation of Inventories: A Cost-Basis Approach 386(56)
To Switch Or Not To Switch
386(2)
Inventory Issues
388(5)
Classification
388(1)
Inventory Cost Flow
389(2)
Inventory Control
391(1)
What Do the Numbers Mean? Staying Lean
392(1)
Determining Cost of Goods Sold
392(1)
Goods And Costs Included In Inventory
393(5)
Goods Included in Inventory
393(2)
What Do the Numbers Mean? No Parking!
395(1)
Costs Included in Inventory
395(2)
What Do the Numbers Mean? You May Need a Map
397(1)
Which Cost Flow Assumption To Adopt?
398(4)
Specific Identification
398(1)
Average-Cost
399(1)
First-In, First-Out (FIFO)
400(1)
Last-In, First-Out (LIFO)
401(1)
Special Issues Related To LIFO
402(14)
LIFO Reserve
402(1)
What Do the Numbers Mean? Comparing Apples to Apples
403(1)
LIFO Liquidation
403(2)
Dollar-Value LIFO
405(5)
What Do the Numbers Mean? Quite a Difference
410(1)
Comparison of LIFO Approaches
410(1)
Major Advantages of LIFO
411(1)
Major Disadvantages of LIFO
412(1)
Basis for Selection of Inventory Method
413(2)
Evolving Issue Repeal LIFO!
415(1)
Effect Of Inventory Errors
416(25)
Ending Inventory Misstated
416(1)
Purchases and Inventory Misstated
417(24)
FASB Codification
441(1)
9 Inventories: Additional Valuation Issues 442(60)
Not What It Seems To Be
442(2)
Lower-Of-Cost-Or-Net Realizable Value
444(4)
Definition of Net Realizable Value
444(1)
Illustration of LCNRV
444(1)
Methods of Applying LCNRV
445(1)
Recording NRV Instead of Cost
446(1)
Use of an Allowance
447(1)
Use of an Allowance—Multiple Periods
447(1)
Lower-Of-Cost-Or-Market
448(4)
How Lower-of-Cost-or-Market Works
449(1)
Methods of Applying Lower-of-Cost-or-Market
450(1)
What Do the Numbers Mean? "Put It in Reverse"
451(1)
Evaluation of the LCNRV and Lower-of-Cost-or-Market Rules
451(1)
Other Valuation Approaches
452(3)
Valuation at Net Realizable Value
452(1)
Valuation Using Relative Sales Value
453(1)
Purchase Commitments—A Special Problem
453(2)
The Gross Profit Method Of Estimating Inventory
455(3)
Computation of Gross Profit Percentage
456(2)
Evaluation of Gross Profit Method
458(1)
What Do the Numbers Mean? The Squeeze
458(1)
Retail Inventory Method
458(6)
Retail-Method Concepts
459(1)
Retail Inventory Method with Markups and Markdowns—Conventional Method
460(3)
What Do the Numbers Mean? Price Fixing
463(1)
Special Items Relating to Retail Method
463(1)
Evaluation of Retail Inventory Method
464(1)
Presentation And Analysis
464(2)
Presentation of Inventories
464(1)
Analysis of Inventories
465(1)
Appendix 9a: Lifo Retail Methods
466(1)
Stable Prices—lifo Retail Method
466(1)
Fluctuating Prices—dollar-Value Lifo Retail Method
467(2)
Subsequent Adjustments Under Dollar-Value Lifo Retail
469(1)
Changing From Conventional Retail To Lifo
470(23)
FASB Codification
493(1)
IFRS Insights
494(8)
10 Acquisition and Disposition of Property, Plant, and Equipment 502(50)
Watch Your Spending
502(2)
Property, Plant, And Equipment
504(9)
Acquisition of Property, Plant, and Equipment
504(2)
Self-Constructed Assets
506(1)
Interest Costs During Construction
507(5)
What Do the Numbers Mean? What's in Your Interest?
512(1)
Observations
513(1)
Valuation Of Property, Plant, And Equipment
513(9)
Cash Discounts
513(1)
Deferred-Payment Contracts
513(1)
Lump-Sum Purchases
514(1)
Issuance of Stock
515(1)
Exchanges of Nonmonetary Assets
516(5)
What Do the Numbers Mean? About Those Swaps
521(1)
Accounting for Contributions
521(1)
Other Asset Valuation Methods
522(1)
Costs Subsequent To Acquisition
522(4)
What Do the Numbers Mean? Disconnected
523(1)
Additions
524(1)
Improvements and Replacements
524(1)
Rearrangement and Reinstallation
525(1)
Repairs
525(1)
Summary of Costs Subsequent to Acquisition
526(1)
Disposition Of Property, Plant, And Equipment
526(24)
Sale of Plant Assets
526(1)
Involuntary Conversion
527(1)
Miscellaneous Problems
527(23)
FASB Codification
550(2)
11 Depreciation, Impairments, and Depletion 552(58)
Here Come The Write-Offs
552(2)
Depreciation—a Method Of Cost Allocation
554(5)
Factors Involved in the Depreciation Process
554(2)
What Do the Numbers Mean? Alphabet Dupe
556(1)
Methods of Depreciation
556(3)
Special Depreciation Methods And Other Issues
559(6)
Special Depreciation Methods
559(2)
What Do the Numbers Mean? Decelerating Depreciation
561(1)
Other Depreciation Issues
562(3)
What Do the Numbers Mean? Depreciation Choices
565(1)
Impairments
565(3)
Recognizing Impairments
565(1)
Measuring Impairments
566(1)
Restoration of Impairment Loss
567(1)
Impairment of Assets to Be Disposed Of
567(1)
Depletion
568(5)
Establishing a Depletion Base
569(1)
Write-Off of Resource Cost
570(1)
Estimating Recoverable Reserves
571(1)
What Do the Numbers Mean? Reserve Surprise
571(1)
Liquidating Dividends
571(1)
Continuing Controversy
572(1)
Evolving Issue Full-Cost or Successful-Efforts?
573(1)
Presentation And Analysis
573(3)
Presentation of Property, Plant, Equipment, and Natural Resources
573(2)
Analysis of Property, Plant, and Equipment
575(1)
Appendix 11a: Income Tax Depreciation
576(1)
Modified Accelerated Cost Recovery System
577(2)
Tax Lives (Recovery Periods)
577(1)
Tax Depreciation Methods
577(1)
Example of MACRS
578(1)
Optional Straight-Line Method
579(1)
Tax Versus Book Depreciation
579(21)
FASB Codification
600(1)
IFRS Insights
601(9)
12 Intangible Assets 610(48)
Is This Sustainable?
610(2)
Intangible Asset Issues
612(2)
Characteristics
612(1)
Valuation
612(1)
Amortization of Intangibles
613(1)
What Do the Numbers Mean? Are All Brands the Same?
614(1)
Types Of Intangible Assets
614(8)
Marketing-Related Intangible Assets
615(1)
What Do the Numbers Mean? Keep Your Hands Off My Intangible!
615(1)
Customer-Related Intangible Assets
616(1)
Artistic-Related Intangible Assets
616(1)
Contract-Related Intangible Assets
617(1)
Technology-Related Intangible Assets
617(1)
What Do the Numbers Mean? Patent Battles
618(1)
What Do the Numbers Mean? The Value of a Secret Formula
619(1)
Goodwill
619(3)
Impairment And Presentation Of Intangible Assets
622(6)
Impairment of Limited-Life Intangibles
623(1)
Impairment of Indefinite-Life Intangibles Other Than Goodwill
623(1)
Impairment of Goodwill
624(1)
Impairment Summary
625(1)
What Do the Numbers Mean? Impairment Risk
625(1)
Presentation of Intangible Assets
626(2)
Research And Development Costs
628(22)
Identifying R&D Activities
628(1)
Accounting for R&D Activities
629(1)
What Do the Numbers Mean? Global R&D Incentives
629(2)
Costs Similar to R&D Costs
631(1)
What Do the Numbers Mean? Branded
632(1)
Presentation of Research and Development Costs
633(1)
Evolving Issue Recognition of R&D and Internally Generated Intangibles
634(16)
FASB Codification
650(2)
IFRS Insights
652(6)
13 Current Liabilities and Contingencies 658(60)
Now You See It, Now You Don't
658(2)
Current Liabilities
660(13)
Accounts Payable
661(1)
Notes Payable
661(2)
Dividends Payable
663(1)
Customer Advances and Deposits
663(1)
Unearned Revenues
663(1)
What Do the Numbers Mean? Microsoft's Liabilities—Good or Bad?
664(1)
Sales Taxes Payable
665(1)
Income Taxes Payable
665(1)
Employee-Related Liabilities
666(5)
Current Maturities of Long-Term Debt
671(1)
Short-Term Obligations Expected to Be Refinanced
671(2)
What Do the Numbers Mean? What About That Short-Term Debt?
673(1)
Contingencies
673(11)
Gain Contingencies
673(1)
Loss Contingencies
674(6)
What Do the Numbers Mean? Frequent Flyers
680(2)
Evolving Issue Greenhouse Gases: Let's Be Standard-Setters
682(2)
What Do the Numbers Mean? More Disclosure, Please
684(1)
Presentation And Analysis
684(24)
Presentation of Current Liabilities
684(2)
Presentation of Contingencies
686(1)
Analysis of Current Liabilities
687(1)
What Do the Numbers Mean? I'll Pay You Later
688(20)
FASB Codification
708(2)
IFRS Insights
710(8)
14 Long-Term Liabilities 718(56)
Going Long
718(2)
Bonds Payable
720(11)
Issuing Bonds
720(1)
Types of Bonds
720(1)
What Do the Numbers Mean? All About Bonds
721(1)
Valuation and Accounting for Bonds Payable
722(1)
What Do the Numbers Mean? How's My Rating?
723(7)
Extinguishment of Debt
730(1)
What Do the Numbers Mean? Your Debt Is Killing My Equity
731(1)
Long-Term Notes Payable
731(8)
Notes Issued at Face Value
732(1)
Notes Not Issued at Face Value
732(2)
Special Notes Payable Situations
734(3)
Mortgage Notes Payable
737(1)
Fair Value Option
737(1)
What Do the Numbers Mean? Fair Value Fun House
738(1)
Reporting And Analyzing Liabilities
739(4)
Off-Balance-Sheet Financing
739(2)
What Do the Numbers Mean? Obligated
741(1)
Presentation and Analysis of Long-Term Debt
741(2)
Appendix 14a: Troubled-Debt Restructuring
743(1)
Settlement Of Debt
744(1)
Transfer of Assets
744(1)
Granting of Equity Interest
745(1)
Modification Of Terms
745(4)
Example 1—No Gain for Debtor
746(2)
Example 2—Gain for Debtor
748(1)
Concluding Remarks
749(18)
FASB Codification
767(1)
IFRS Insights
768(6)
15 Stockholders' Equity 774(60)
It's A Global Market
774(2)
Corporate Capital
776(10)
Corporate Form
776(1)
What Do the Numbers Mean? 1209 North Orange Street
776(2)
Components of Stockholders' Equity
778(1)
Issuance of Stock
779(4)
What Do the Numbers Mean? The Case of the Disappearing Receivable
783(1)
Preferred Stock
783(2)
What Do the Numbers Mean? A Class (B) Act
785(1)
Reacquisition Of Shares
786(5)
What Do the Numbers Mean? Buybacks—Good or Bad?
787(1)
Purchase of Treasury Stock
788(1)
Sale of Treasury Stock
789(1)
Retiring Treasury Stock
790(1)
Dividend Policy
791(9)
Financial Condition and Dividend Distributions
791(1)
Types of Dividends
792(3)
Stock Dividends and Stock Splits
795(3)
What Do the Numbers Mean? Splitsville
798(2)
What Do the Numbers Mean? Dividends Up, Dividends Down
800(1)
Presentation And Analysis Of Stockholders' Equity
800(4)
Presentation
800(2)
Analysis
802(2)
Appendix 15a: Dividend Preferences And Book Value Per Share
804(1)
Dividend Preferences
804(1)
Book Value Per Share
805(21)
FASB Codification
826(1)
IFRS Insights
827(7)
16 Dilutive Securities and Earnings per Share 834(64)
Kicking The Habit
834(2)
Dilutive Securities
836(3)
Debt and Equity
836(1)
Accounting for Convertible Debt
836(2)
Convertible Preferred Stock
838(1)
What Do the Numbers Mean? How Low Can You Go?
839(1)
Stock Warrants
839(4)
Stock Warrants Issued with Other Securities
840(2)
Rights to Subscribe to Additional Shares
842(1)
Evolving Issue Is That All Debt?
842(1)
Stock Compensation Plans
843(8)
Measurement—Stock Compensation
844(1)
What Do the Numbers Mean? What's the Debate About?
845(1)
Recognition—Stock Compensation
846(1)
Restricted Stock
847(2)
Employee Stock-Purchase Plans
849(1)
Disclosure of Compensation Plans
849(2)
Basic Earnings Per Share
851(4)
Earnings per Share—Simple Capital Structure
851(3)
Comprehensive Example
854(1)
Diluted Earnings Per Share
855(8)
Diluted EPS—Convertible Securities
856(2)
Diluted EPS—Options and Warrants
858(1)
Contingent Issue Agreement
859(1)
Antidilution Revisited
859(1)
EPS Presentation and Disclosure
860(1)
What Do the Numbers Mean? Pro Forma EPS Confusion
861(1)
Summary of EPS Computation
862(1)
Appendix 16a: Accounting For Stock-Appreciation Rights
863(1)
Sars—share-Based Equity Awards
864(1)
Sars—share-Based Liability Awards
864(1)
Stock-Appreciation Rights Example
865(1)
Appendix 16b: Comprehensive Earnings Per Share Example
866(1)
Diluted Earnings Per Share
867(22)
FASB Codification
889(1)
IFRS Insights
890(8)
17 Investments 898(80)
What To Do?
898(2)
Investments In Debt Securities
900(8)
Debt Investment Classifications
900(1)
Held-to-Maturity Securities
901(2)
Available-for-Sale Securities
903(4)
Trading Securities
907(1)
What Do the Numbers Mean? To Have and To Hold
908(1)
Investments In Equity Securities
908(7)
Holdings of Less Than 20%
909(3)
What Do the Numbers Mean? More Disclosure, Please
912(1)
Holdings Between 20% and 50%
912(2)
Holdings of More Than 50%
914(1)
What Do the Numbers Mean? Who's in Control Here?
914(1)
Other Financial Reporting Issues
915(8)
Fair Value Option
915(1)
Evolving Issue Fair Value Controversy
916(1)
Impairment of Value
916(2)
Reclassification Adjustments
918(3)
Transfers Related to Debt Securities
921(1)
Summary of Reporting Treatment of Securities
922(1)
What Do The Numbers Mean? So You Think It Is Easy!
923(1)
Appendix 17a: Accounting For Derivative Instruments
923(1)
Defining Derivatives
924(1)
Who Uses Derivatives, And Why?
924(2)
Producers and Consumers
924(1)
Speculators and Arbitrageurs
925(1)
Basic Principles In Accounting For Derivatives
926(3)
Example of Derivative Financial Instrument—Speculation
926(3)
Differences Between Traditional and Derivative Financial Instruments
929(1)
Derivatives Used For Hedging
929(5)
What Do the Numbers Mean? Risky Business
930(1)
Fair Value Hedge
930(2)
Cash Flow Hedge
932(2)
Other Reporting Issues
934(3)
Embedded Derivatives
934(1)
Qualifying Hedge Criteria
935(1)
Summary of Derivatives Accounting
936(1)
Comprehensive Hedge Accounting Example
937(3)
Fair Value Hedge
937(2)
Financial Statement Presentation of an Interest Rate Swap
939(1)
Controversy And Concluding Remarks
940(1)
Appendix 17b: Fair Value Disclosures
941(1)
Disclosure Of Fair Value Information: Financial Instruments
941(3)
Disclosure Of Fair Values: Impaired Assets Or Liabilities
944(1)
Conclusion
944(21)
FASB Codification
965(1)
IFRS Insights
966(12)
18 Revenue Recognition 978(74)
It's Back
978(2)
Fundamentals Of Revenue Recognition
980(6)
Background
980(1)
New Revenue Recognition Standard
980(1)
Overview of the Five-Step Process—Boeing Example
981(1)
Extended Example of the Five-Step Process: BEAN
982(4)
The Five-Step Process Revisited
986(10)
Identifying the Contract with Customers—Step 1
986(1)
Identifying Separate Performance Obligations—Step 2
987(1)
Determining the Transaction Price—Step 3
988(4)
Allocating the Transaction Price to Separate Performance Obligations—Step 4
992(2)
Recognizing Revenue When (or as) Each Performance Obligation Is Satisfied—Step 5
994(1)
Summary
995(1)
Accounting For Revenue Recognition Issues
996(11)
Sales Returns and Allowances
996(3)
Repurchase Agreements
999(2)
Bill-and-Hold Arrangements
1001(1)
Principal-Agent Relationships
1001(1)
Consignments
1002(2)
What Do the Numbers Mean? Grossed Out
1004(1)
Warranties
1004(2)
Nonrefundable Upfront Fees
1006(1)
Summary
1006(1)
Presentation And Disclosure
1007(6)
Presentation
1007(4)
Disclosure
1011(1)
Evolving Issue Revenue: "It's Like An Octopus"
1012(1)
Appendix 18a: Long-Term Construction Contracts
1013(1)
Revenue Recognition Over Time
1013(10)
Percentage-of-Completion Method
1014(5)
Completed-Contract Method
1019(1)
Long-Term Contract Losses
1020(3)
Appendix 18b: Revenue Recognition For Franchises
1023(1)
Franchise Accounting
1024(2)
Recognition Of Franchise Rights Revenue Over Time
1026(24)
FASB Codification
1050(2)
19 Accounting for Income Taxes 1052(64)
Hey-Let's Pay More Income Taxes!
1052(2)
Fundamentals Of Accounting For Income Taxes
1054(10)
Future Taxable Amounts and Deferred Taxes
1055(4)
What Do the Numbers Mean? "Real Liabilities"
1059(1)
Future Deductible Amounts and Deferred Taxes
1059(3)
What Do the Numbers Mean? "Real Assets"
1062(1)
Deferred Tax Asset—Valuation Allowance
1063(1)
Additional Considerations
1064(5)
Income Statement Presentation
1064(1)
Specific Differences
1064(3)
Tax Rate Considerations
1067(1)
What Do the Numbers Mean? Global Tax Rates
1068(1)
Accounting For Net Operating Losses
1069(7)
Loss Carryback
1069(1)
Loss Carryforward
1070(1)
Loss Carryback Example
1070(1)
Loss Carryforward Example
1071(4)
What Do the Numbers Mean? NOLs: Good News or Bad?
1075(1)
Financial Statement Presentation
1076(7)
Balance Sheet
1076(1)
Note Disclosure
1076(1)
What Do the Numbers Mean? Imagination at Work
1077(1)
Income Statement
1078(3)
Evolving Issue Uncertain Tax Positions
1081(1)
The Asset-Liability Method
1081(2)
Appendix 19a: Comprehensive Example Of Interperiod Tax Allocation
1083(1)
First Year-2016
1083(4)
Taxable Income and Income Taxes Payable-2016
1084(1)
Computing Deferred Income Taxes—End of 2016
1085(1)
Deferred Tax Expense (Benefit) and the Journal Entry to Record Income Taxes-2016
1086(1)
Financial Statement Presentation-2016
1086(1)
Second Year-2017
1087(22)
Taxable Income and Income Taxes Payable-2017
1088(1)
Computing Deferred Income Taxes—End of 2017
1088(1)
Deferred Tax Expense (Benefit) and the Journal Entry to Record Income Taxes-2017
1089(1)
Financial Statement Presentation-2017
1089(20)
FASB Codification
1109(1)
IFRS Insights
1110(6)
20 Accounting for Pensions and Postretirement Benefits 1116(78)
Where Have All The Pensions Gone?
1116(2)
Fundamentals Of Pension Plan Accounting
1118(8)
Defined Contribution Plan
1119(1)
Defined Benefit Plan
1119(1)
What Do the Numbers Mean? Which Plan Is Right for You?
1120(1)
The Role of Actuaries in Pension Accounting
1121(1)
Measures of the Liability
1121(2)
What Do the Numbers Mean? Roller Coaster
1123(1)
Components of Pension Expense
1123(3)
Using A Pension Worksheet
1126(2)
2017 Entries and Worksheet
1127(1)
Funded Status
1128(1)
Prior Service Cost (PSC)
1128(3)
Amortization
1128(2)
2018 Entries and Worksheet
1130(1)
Gains And Losses
1131(7)
Smoothing Unexpected Gains and Losses on Plan Assets
1131(1)
What Do the Numbers Mean? Pension Costs Ups and Downs
1132(1)
Smoothing Unexpected Gains and Losses on the Pension Liability
1132(1)
Corridor Amortization
1133(3)
Evolving Issue Bye Bye Corridor
1136(1)
2019 Entries and Worksheet
1136(2)
Reporting Pension Plans In Financial Statements
1138(10)
Within the Financial Statements
1138(2)
Within the Notes to the Financial Statements
1140(2)
Example of Pension Note Disclosure
1142(1)
2020 Entries and Worksheet—A Comprehensive Example
1143(1)
Special Issues
1144(2)
What Do the Numbers Mean? Who Guarantees the Guarantor?
1146(2)
Concluding Observations
1148(1)
Appendix 20a: Accounting For Postretirement Benefits
1148(1)
Accounting Guidance
1148(1)
Differences Between Pension Benefits And Healthcare Benefits
1149(1)
What Do the Numbers Mean? OPEBs—How Big Are They?
1150(1)
Postretirement Benefits Accounting Provisions
1150(2)
Obligations Under Postretirement Benefits
1150(1)
Postretirement Expense
1151(1)
Illustrative Accounting Entries
1152(3)
2017 Entries and Worksheet
1152(1)
Recognition of Gains and Losses
1153(1)
2018 Entries and Worksheet
1154(1)
Amortization of Net Gain or Loss in 2019
1155(1)
Disclosures In Notes To The Financial Statements
1155(2)
Actuarial Assumptions And Conceptual Issues
1157(22)
What Do the Numbers Mean? Want Some Bad News?
1157(22)
FASB Codification
1179(1)
IFRS Insights
1180(14)
21 Accounting for Leases 1194(72)
More Companies Ask, "Why Buy?"
1194(2)
The Leasing Environment
1196(4)
Who Are the Players?
1196(2)
Advantages of Leasing
1198(1)
What Do the Numbers Mean? Off-Balance-Sheet Financing
1199(1)
Conceptual Nature of a Lease
1199(1)
Accounting By The Lessee
1200(10)
Capitalization Criteria
1201(3)
Asset and Liability Accounted for Differently
1204(1)
Capital Lease Method (Lessee)
1204(3)
Operating Method (Lessee)
1207(1)
What Do the Numbers Mean? Restatements on the Menu
1207(1)
Comparison of Capital Lease with Operating Lease
1208(1)
Evolving Issue Are You Liable?
1209(1)
Accounting By The Lessor
1210(5)
Economics of Leasing
1210(1)
Classification of Leases by the Lessor
1211(1)
Direct-Financing Method (Lessor)
1212(3)
Operating Method (Lessor)
1215(1)
Special Lease Accounting Problems
1215(16)
Residual Values
1216(6)
What Do the Numbers Mean? Residual Value Regret
1222(1)
Sales-Type Leases (Lessor)
1222(2)
What Do the Numbers Mean? Xerox Takes on the SEC
1224(1)
Bargain-Purchase Option (Lessee)
1225(1)
Initial Direct Costs (Lessor)
1225(1)
Current versus Noncurrent
1226(1)
Disclosing Lease Data
1227(1)
Unresolved Lease Accounting Problems
1228(2)
Evolving Issue Lease Accounting—If It Quacks Like a Duck
1230(1)
Appendix 21a: Sale-Leasebacks
1231(1)
Determining Asset Use
1231(1)
Lessee
1232(1)
Lessor
1232(1)
Sale-Leaseback Example
1232(22)
FASB Codification
1254(2)
IFRS Insights
1256(10)
22 Accounting Changes and Error Analysis 1266(64)
In The Dark
1266(2)
Accounting Changes
1268(13)
Background
1268(1)
Changes in Accounting Principle
1268(2)
What Do the Numbers Mean? Quite a Change
1270(2)
What Do the Numbers Mean? Change Management
1272(8)
Impracticability
1280(1)
Other Accounting Changes
1281(3)
Changes in Accounting Estimates
1281(2)
What Do the Numbers Mean? A Change for the Better?
1283(1)
Changes in Reporting Entity
1283(1)
Accounting Errors
1284(6)
What Do the Numbers Mean? Can I Get My Money Back?
1286(1)
Example of Error Correction
1286(2)
Summary of Accounting Changes and Correction of Errors
1288(1)
What Do the Numbers Mean? What's Your Motivation?
1289(1)
Error Analysis
1290(9)
Balance Sheet Errors
1291(1)
Income Statement Errors
1291(1)
Balance Sheet and Income Statement Errors
1291(3)
Comprehensive Example: Numerous Errors
1294(2)
What Do the Numbers Mean? Guard the Financial Statements!
1296(1)
Preparation of Financial Statements with Error Corrections
1297(2)
Appendix 22a: Changing From Or To The Equity Method
1299(1)
Change From The Equity Method
1299(1)
Dividends in Excess of Earnings
1299(1)
Change To The Equity Method
1300(25)
FASB Codification
1325(1)
IFRS Insights
1326(4)
23 Statement of Cash Flows 1330(72)
Show Me The Money!
1330(2)
Statement Of Cash Flows
1332(3)
Usefulness of the Statement of Cash Flows
1332(1)
Classification of Cash Flows
1333(1)
What Do the Numbers Mean? How's My Cash Flow?
1334(1)
Format of the Statement of Cash Flows
1335(1)
Preparing The Statement Of Cash Flows
1335(18)
Illustrations—Tax Consultants Inc.
1336(2)
What Do the Numbers Mean? Earnings and Cash Flow Management?
1338(8)
Sources of Information for the Statement of Cash Flows
1346(1)
Net Cash Flow from Operating Activities—Direct Method
1346(6)
Evolving Issue Direct versus Indirect
1352(1)
Special Problems In Statement Preparation
1353(8)
Adjustments to Net Income
1353(3)
Accounts Receivable (Net)
1356(2)
What Do the Numbers Mean? Not What It Seems
1358(1)
Other Working Capital Changes
1358(1)
Net Losses
1359(1)
Significant Noncash Transactions
1360(1)
What Do the Numbers Mean? Better Than ROA?
1361(1)
Use Of A Worksheet
1361(34)
Preparation of the Worksheet
1362(1)
Analysis of Transactions
1363(6)
Preparation of Final Statement
1369(26)
FASB Codification
1395(1)
IFRS Insights
1396(6)
24 Full Disclosure in Financial Reporting 1402
High-Quality Financial Reporting—always In Fashion
1402(2)
Full Disclosure Principle
1404(5)
Increase in Reporting Requirements
1405(1)
Differential Disclosure
1405(1)
Evolving Issue Disclosure—Quantity and Quality
1406(1)
Notes to the Financial Statements
1407(2)
What Do the Numbers Mean? Footnote Secrets
1409(1)
Disclosure Issues
1409(14)
Disclosure of Special Transactions or Events
1409(2)
Post-Balance-Sheet Events (Subsequent Events)
1411(2)
Reporting for Diversified (Conglomerate) Companies
1413(4)
Interim Reports
1417(6)
Evolving Issue It's Faster but Is It Better?
1423(1)
Auditor's And Management's Reports
1423(5)
Auditor's Report
1423(3)
What Do the Numbers Mean? Heart of the Matter
1426(1)
Management's Reports
1427(1)
Current Reporting Issues
1428(7)
Reporting on Financial Forecasts and Projections
1428(2)
What Do the Numbers Mean? Global Forecasts
1430(1)
Internet Financial Reporting
1431(1)
Fraudulent Financial Reporting
1432(2)
What Do the Numbers Mean? Disclosure Overload
1434(1)
Criteria for Making Accounting and Reporting Choices
1435(1)
Appendix 24a: Basic Financial Statement Analysis
1435(1)
Perspective On Financial Statement Analysis
1436(1)
Ratio Analysis
1437(2)
Limitations of Ratio Analysis
1437(2)
Comparative Analysis
1439(1)
Percentage (Common-Size) Analysis
1440(20)
FASB Codification
1460(1)
IFRS Insights
1461
Appendix A Private Company Accounting A-1
The Private Company Council (PCC)
A-1
Background on the PCC
A-1
Private Company Decision-Making Framework
A-1
PCC Accomplishments
A-2
Private Company Alternatives For Intangible Assets And Goodwill
A-2
Accounting for Identifiable Intangible Assets
A-2
Accounting for Goodwill
A-4
Summary
A-6
Appendix B Specimen Financial Statements: The Procter & Gamble Company B-1
Appendix C Specimen Financial Statements: The Coca-Cola Company C-1
Appendix D Specimen Financial Statements: PepsiCo, Inc. D-1
Appendix E Specimen Financial Statements: Marks and Spencer plc E-1
Index I-1