Financial accounting : international financial reporting standards / / Walter T. Harrison [and three others]

• Pubblicazione: Boston, Massachusetts : , : Pearson, , 2014; ©2014
• Edizione: Ninth edition, global edition.
• Descrizione fisica: 1 online resource (854 pages) : color illustrations, tables, photographs
• Disciplina: 657
• Soggetto topico: Accounting
• Persona (resp. second.): HarrisonWalter T.
• Note generali: Includes index.
• Nota di contenuto: Cover -- Contents -- "I get it!" -- Hallmark Features -- New to the Ninth Edition -- Students Will "Get It" Anytime, Anywhere with the Student Learning System! -- Student Resources -- Instructor Resources -- Acknowledgments -- Accounting Careers: Much More Than Counting Things -- 1 Conceptual Framework and Financial Statements -- SPOTLIGHT: Samsung Electronics -- BUSINESS DECISIONS -- ACCOUNTING IS THE LANGUAGE OF BUSINESS -- Two Perspectives of Accounting: Financial Accounting and Management Accounting -- Organizing a Business -- Accounting Standards -- THE CONCEPTUAL FRAMEWORK -- Why is Financial Reporting Important? -- Who are the Users of Accounting Information? -- What Makes Accounting Information Useful? -- What Constraints do We Face in Providing Useful Information? -- What are Our Assumptions in Financial Reporting? -- What Exactly are We Accounting for? -- THE ACCOUNTING EQUATIONS -- FINANCIAL STATEMENTS -- The Income Statement Shows a Company's Financial Performance -- The Statement of Changes in Equity Shows a Company's Transactions with its Owners -- The Balance Sheet Shows a Company's Financial Position -- THE STATEMENT OF CASH FLOWS SHOWS A COMPANY'S CASH RECEIPTS AND PAYMENTS -- RELATIONSHIPS AMONG THE FINANCIAL STATEMENTS -- ETHICS IN BUSINESS AND ACCOUNTING DECISIONS -- END-OF-CHAPTER SUMMARY PROBLEM -- Demo Doc -- 2 Recording Business Transactions -- SPOTLIGHT: De Beers -- TRANSACTIONS -- KEEPING TRACK OF FINANCIAL STATEMENT ITEMS -- Assets -- Liabilities -- Equity -- ACCOUNTING FOR BUSINESS TRANSACTIONS -- Transactions and Financial Statements -- MID-CHAPTER SUMMARY PROBLEM -- DOUBLE-ENTRY ACCOUNTING -- The T-Account -- Increases and Decreases in the Accounts: The Rules of Debit and Credit -- Additional Shareholders' Equity Accounts: Income and Expenses -- RECORDING TRANSACTIONS. ; Copying Information (Posting) from the Journal to the Ledger -- The Flow of Accounting Data -- Accounts After Posting to the Ledger -- THE TRIAL BALANCE -- Analyzing Accounts -- Correcting Accounting Errors -- Chart of Accounts -- The Normal Balance of an Account -- Account Formats -- Analyzing Transactions Using Only T-Accounts -- END-OF-CHAPTER SUMMARY PROBLEM -- Demo Doc -- 3 Accrual Accounting -- SPOTLIGHT: Richemont -- ACCRUAL ACCOUNTING VERSUS CASH BASIS ACCOUNTING -- Accrual Accounting and Cash Flows -- The Time-Period Concept -- The Revenue Recognition Principle -- The Matching Concept -- ETHICS IN BUSINESS AND ACCOUNTING DECISIONS -- MID-CHAPTER SUMMARY PROBLEM -- UPDATING THE ACCOUNTS: THE ADJUSTING PROCESS -- Which Accounts Need to Be Updated (Adjusted)? -- Categories of Adjusting Entries -- Prepaid Expenses -- Depreciation of Property, Plant and Equipment -- Accrued Expenses -- Accrued Revenues -- Unearned Revenues -- Summary of the Adjusting Process -- The Adjusted Trial Balance -- PREPARING THE FINANCIAL STATEMENTS -- Which Accounts Need to be Closed? -- END-OF-CHAPTER SUMMARY PROBLEM -- Demo Doc -- 4 Presentation of Financial Statements -- SPOTLIGHT: BASF -- ANNUAL REPORTS AS A COMMUNICATION TOOL -- Substance Over Style -- Obtaining Annual Reports -- Typical Structure of an Annual Report -- Corporate Information -- Analysis and Commentaries -- Other Statements and Disclosures -- Financial Statements -- GENERAL PRESENTATION REQUIREMENTS -- Complete Set of Financial Statements -- Fair Presentation and Compliance with IFRS -- Going Concern -- Accrual Basis of Accounting -- Materiality and Aggregation -- Offsetting -- Frequency of Reporting -- Comparative Information -- Consistency of Presentation -- MID-CHAPTER SUMMARY PROBLEM -- STATEMENT OF FINANCIAL POSITION -- STATEMENT OF COMPREHENSIVE INCOME -- STATEMENT OF CHANGES IN EQUITY. ; NOTES TO THE ACCOUNTS -- END-OF-CHAPTER SUMMARY PROBLEM -- 5 Internal Control, Cash, and Receivables -- SPOTLIGHT: Nestlé -- FRAUD AND ITS IMPACT -- Ethics in Business and Accounting Decisions -- INTERNAL CONTROL -- The Sarbanes-Oxley Act (SOX) -- INTERNAL CONTROL PROCEDURES -- Smart Hiring Practices and Separation of Duties -- Comparisons and Compliance Monitoring -- Adequate Records -- Limited Access -- Proper Approvals -- Information Technology -- Internal Controls for e-Commerce -- The Limitations of Internal Control-Costs and Benefits -- INTERNAL CONTROL OVER CASH RECEIPTS -- Cash Receipts Over the Counter -- Cash Receipts by Mail -- INTERNAL CONTROL OVER CASH PAYMENTS -- Controls Over Payments by Cheque -- USING A BANK ACCOUNT AS A CONTROL PROCEDURE -- Preparing the Bank Reconciliation -- Online Banking -- MID-CHAPTER SUMMARY PROBLEM -- USING A BUDGET TO MANAGE CASH -- Reporting Cash on the Balance Sheet -- ACCOUNTS AND NOTES RECEIVABLE -- Types of Receivables -- Internal Controls Over Cash Collections on Account -- How Do We Manage the Risk of Not Collecting? -- ACCOUNTING FOR UNCOLLECTIBLE RECEIVABLES -- Allowance Method -- Direct Write-Off Method -- Computing Cash Collections from Customers -- NOTES RECEIVABLE -- Accounting for Notes Receivable -- HOW TO SPEED UP CASH FLOW -- Credit Card or Bankcard Sales -- Selling (Factoring) Receivables -- USING TWO KEY RATIOS TO MAKE DECISIONS -- Current Ratio -- Receivable Turnover and Collection Period -- END-OF-CHAPTER SUMMARY PROBLEM -- 6 Inventory and Merchandizing Operations -- SPOTLIGHT: Inditex -- INVENTORY AND RETAILING OPERATIONS -- Sale Price vs. Cost of Inventory -- INVENTORY-RELATED TRANSACTIONS UNDER THE PERPETUAL SYSTEM -- Inventory Systems -- Recording Transactions in the Perpetual System -- INVENTORY COSTING METHODS. ; Effects of FIFO, LIFO and Average Cost on Cost of Goods Sold, Gross Profit, and Ending Inventory -- Comparison of the Inventory Methods -- MID-CHAPTER SUMMARY PROBLEM -- OTHER INVENTORY ISSUES -- Comparability as an Enhancing Qualitative Characteristic -- Why is LIFO not allowed under IFRS? -- Net Realizable Value -- Analyzing Financial Statements -- Using the Cost-of-Goods-Sold Model -- Estimating Inventory by the Gross Profit Method -- Detailed Income Statement -- Effects of Inventory Errors -- COOKING THE BOOKS with Inventory: Crazy Eddie -- END-OF-CHAPTER SUMMARY PROBLEM -- APPENDIX 6A Accounting for Inventory in the Periodic System -- 7 PPE and Intangibles -- SPOTLIGHT: Dairy Farm -- TYPES OF NON-CURRENT ASSETS -- Property, Plant and Equipment (PPE) -- Intangible Assets -- Other Non-Current Assets -- INITIAL RECOGNITION AND MEASUREMENT OF PPE -- Recognition of PPE and Intangible Assets -- Measurement of PPE on Initial Recognition -- Land and Land Improvements -- Buildings, Machinery, and Equipment -- Lump-Sum (or Basket) Purchases of Assets -- Subsequent Costs -- COOKING THE BOOKS by Improper Capitalization: WorldCom -- ALLOCATING DEPRECIATION ON PPE -- How to Allocate Depreciation -- Depreciation Methods -- Comparing Depreciation Methods -- Choosing a Depreciation Method -- MID-CHAPTER SUMMARY PROBLEM -- OTHER ISSUES IN ACCOUNTING FOR PPE -- Depreciation for Tax Purposes -- Depreciation for Partial Years -- Changes in Estimates of Useful Lives or Residual Values -- COOKING THE BOOKS Through Depreciation: Waste Management -- Impairment of PPE -- Measurement Subsequent to Initial Recognition -- Using Fully Depreciated Assets -- ACCOUNTING FOR DISPOSAL OF PPE -- T-Accounts for Analyzing PPE Transactions -- ACCOUNTING FOR NATURAL RESOURCES -- ACCOUNTING FOR INTANGIBLE ASSETS -- Accounting for Specific Intangibles. ; Accounting for the Impairment of an Intangible Asset -- Accounting for Research and Development Costs -- REPORTING PPE TRANSACTIONS ON THE STATEMENT OF CASH FLOWS -- Analyzing Financial Statements -- END-OF-CHAPTER SUMMARY PROBLEM -- 8 Investments and International Operations -- SPOTLIGHT: Vivendi -- INVESTMENTS: AN OVERVIEW -- Reporting Investments on the Balance Sheet -- FINANCIAL ASSET INVESTMENTS -- Trading Securities -- Loans and Receivables -- Held-to-maturity -- Available-for-Sale Investments -- Summary of Financial Assets Recognition and Measurements -- EQUITY-METHOD INVESTMENTS -- CONSOLIDATED SUBSIDIARIES -- Consolidation Accounting -- The Consolidated Balance Sheet and the Related Worksheet -- Goodwill and Non-Controlling Interest -- Income of a Consolidated Entity -- COOKING THE BOOKS with Investments and Debt: Enron Corporation -- MID-CHAPTER SUMMARY PROBLEMS -- ACCOUNTING FOR INTERNATIONAL OPERATIONS -- Foreign Currencies and Exchange Rates -- Accounting for Foreign Currency Transactions -- Reporting Gains and Losses on the Income Statement -- Should We Hedge Our Foreign-Currency-Transaction Risk? -- Consolidation of Foreign Subsidiaries -- Analyzing Financial Statements -- IMPACT OF INVESTING ACTIVITIES ON THE STATEMENT OF CASH FLOWS -- END-OF-CHAPTER SUMMARY PROBLEM -- 9 Liabilities -- SPOTLIGHT: GlaxoSmithKline (GSK) -- LIABILITIES -- Contingent Liabilities -- Are All Liabilities Reported in the Balance Sheet? -- COOKING THE BOOKS with Liabilities: Crazy Eddie, Inc. -- SUMMARY OF CURRENT LIABILITIES -- MID-CHAPTER SUMMARY PROBLEM -- LONG-TERM LIABILITIES: BONDS -- Bonds: An Introduction -- Issuing Bonds Payable at Par (Face Value) -- Issuing Bonds Payable at a Discount -- What Is the Interest Expense on These Bonds Payable? -- Interest Expense on Bonds Issued at a Discount -- Partial-Period Interest Amounts. ; Issuing Bonds Payable at a Premium.
• Sommario/riassunto: For introductory courses in Financial Accounting taught from a more traditional "preparer" approach. Financial Accounting helps students "nail" the accounting cycle! Financial Accounting helps students "nail" the accounting cycle up front in order to increase success and retention later on. The concepts and mechanics students learn in the critical 'accounting cycle' chapters are used consistently and repetitively-and with clear-cut details and explanations-throughout the remainder of the text, minimizing confusion. Financial Accounting 9e Global Edition has been fully adapted to include International Financial Reporting Standards throughout, and to include examples of IFRS-compliant companies. This Global Edition has been edited to include enhancements making it more relevant to students outside the United States. For educator access, contact your Pearson Account Manager. To find out who your account manager is, visit www.pearsoned.co.uk/replocator.
• Titolo autorizzato: Financial accounting
• ISBN: 0-273-77786-6
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910150226303321
• Lo trovi qui: Univ. Federico II
• Serie: Always learning.