Accounting Tools For Business Decision Making, By Paul D. Kimmel 6th Edition
E-Book Information
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Year: 2,016
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Edition: 6
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Pages: 1,447
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Pages In File: 1,447
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Language: English
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Topic: 2
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Identifier: 9,781,119,222,804
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Org File Size: 30,513,155
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Extension: pdf
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Tags:
Kimmel
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Toc: Cover
Title Page
Copyright Page
Brief Contents
From the Authors
Author Commitment
Table of Contents
Acknowledgments
1 Introduction to Financial Statements
Knowing the Numbers
LO 1: Study the forms of business organization and the uses of accounting information.
Forms of Business Organization
Users and Uses of Financial Information
Ethics in Financial Reporting
LO 2: Explain the three principal types of business activity.
Financing Activities
Investing Activities
Operating Activities
LO 3: Describe the four financial statements and how they are prepared.
Income Statement
Retained Earnings Statement
Balance Sheet
Statement of Cash Flows
Interrelationships of Statements
Other Elements of an Annual Report
A Look at IFRS
2 A Further Look at Financial Statements
Just Fooling Around?
LO 1: Identity the sections of a classified balance sheet.
Current Assets
Long-Term Investments
Property, Plant, and Equipment
Intangible Assets
Current Liabilities
Long-Term Liabilities
Stockholders’ Equity
LO 2: Use ratios to evaluate a company’s profitability, liquidity, and solvency.
Ratio Analysis
Using the Income Statement
Using a Classified Balance Sheet
Using the Statement of Cash Flows
LO 3: Discuss financial reporting concepts.
The Standard-Setting Environment
Qualities of Useful Information
Assumptions in Financial Reporting
Principles in Financial Reporting
Cost Constraint
A Look at IFRS
3 The Accounting Information System
Accidents Happen
LO 1: Analyze the effect of business transactions on the basic accounting equation.
Accounting Transactions
Analyzing Transactions
Summary of Transactions
LO 2: Explain how accounts, debits, and credits are used to record business transactions.
Debits and Credits
Debit and Credit Procedures
Stockholders’ Equity Relationships
Summary of Debit/Credit Rules
LO 3: Indicate how a journal is used in the recording process.
The Recording Process
The Journal
LO 4: Explain how a ledger and posting help in the recording process.
The Ledger
Chart of Accounts
Posting
The Recording Process Illustrated
Summary Illustration of Journalizing and Posting
LO 5: Prepare a trial balance.
Limitations of a Trial Balance
A Look at IFRS
4 Accrual Accounting Concepts
Keeping Track of Groupons
LO 1: Explain the accrual basis of accounting and the reasons for adjusting entries.
The Revenue Recognition Principle
The Expense Recognition Principle
Accrual versus Cash Basis of Accounting
The Need for Adjusting Entries
Types of Adjusting Entries
LO 2: Prepare adjusting entries for deferrals.
Prepaid Expenses
Unearned Revenues
LO 3: Prepare adjusting entries for accruals.
Accrued Revenues
Accrued Expenses
Summary of Basic Relations