Advanced Accounting

by Beams, Floyd A.; Clement, Robin P.; Anthony, Joseph H.; Lowensohn, Suzanne

• ISBN13: 9780131851221
• ISBN10: 0131851225
• Edition: 9th
• Format: Hardcover
• Copyright: 2009-01-01
• Publisher: Pearson College Div

Summary

For junior and senior-level Advanced Accounting courses Advanced Accounting 9/e uses the complete equity method to allow students to focus on accounting concepts rather than bookkeeping techniques in learning consolidation material. The presentation of consolidation material and the use of excerpts from popular business press and references to real world companies and governmental and non-profit institutions are used to illustrate key concepts and maintain a strong student orientation.

Table of Contents

Preface	xvii
Business Combinations	1	(26)
The Legal Form of Business Combinations	4	(1)
The Accounting Concept of a Business Combination	5	(2)
Accounting for Business Combinations Under the Purchase Method	7	(9)
Disclosure Requirements	16	(3)
The Sarbanes-Oxley Act of 2002	19	(8)
Electronic Supplement to Chapter 1
Stock Investments---Investor Accounting and Reporting	27	(36)
Accounting for Stock Investments	27	(4)
Equity Method of Accounting---A One-Line Consolidation	31	(7)
Interim Acquisitions of an Investment Interest	38	(2)
Investment in a Step-By-Step Acquisition	40	(1)
Sale of an Equity Interest	40	(1)
Stock Purchases Directly from the Investee	41	(1)
Investee Corporation With Preferred Stock	41	(1)
Extraordinary Items, Cumulative-Effect-Type Adjustments, and Other Considerations	42	(1)
Disclosures for Equity Investees	43	(2)
Testing Goodwill for Impairment	45	(18)
An Introduction to Consolidated Financial Statements	63	(38)
Business Combinations Consummated through Stock Acquisitions	63	(4)
Consolidated Balance Sheet at Date of Acquisition	67	(4)
Consolidated Balance Sheets after Acquisition	71	(2)
Allocation of Excess to Identifiable Net Assets and Goodwill	73	(7)
Consolidated Income Statement	80	(1)
Push-Down Accounting	81	(2)
Preparing a Consolidated Balance Sheet Worksheet	83	(18)
Electronic Supplement to Chapter 3
Consolidation Techniques and Procedures	101	(46)
Consolidation Under the Equity Method	101	(7)
Locating Errors	108	(1)
Excess Allocated to Identifiable Net Assets	108	(6)
Consolidated Statement of Cash Flows	114	(5)
Preparing a Consolidation Worksheet	119	(28)
Electronic Supplement to Chapter 4
Intercompany Profit Transactions---Inventories	147	(38)
Intercompany Inventory Transactions	148	(5)
Downstream and Upstream Sales	153	(2)
Unrealized Profits from Downstream Sales	155	(3)
Unrealized Profits from Upstream Sales	158	(3)
Consolidation Example---Intercompany Profits from Downstream Sales	161	(2)
Consolidation Example---Intercompany Profits from Upstream Sales	163	(22)
Electronic Supplement to Chapter 5
Intercompany Profit Transactions---Plant Assets	185	(36)
Intercompany Profits on Nondepreciable Plant Assets	185	(5)
Intercompany Profits on Depreciable Plant Assets	190	(8)
Plant Assets Sold at Other Than Fair Value	198	(2)
Consolidation Example---Upstream and Downstream Sales of Plant Assets	200	(2)
Inventory Items Purchased for Use as Operating Assets	202	(19)
Electronic Supplement to Chapter 6
Intercompany Profit Transactions---Bonds	221	(28)
Intercompany Bond Transactions	221	(1)
Constructive Gains and Losses on Intercompany Bonds	222	(2)
Parent Company Bonds Purchased by Subsidiary	224	(6)
Subsidiary Bonds Purchased by Parent	230	(19)
Electronic Supplement to Chapter 7
Consolidations---Changes in Ownership Interests	249	(34)
Acquisitions During an Accounting Period	249	(4)
Piecemeal Acquisitions	253	(2)
Sale of Ownership Interests	255	(5)
Changes in Ownership Interests from Subsidiary Stock Transactions	260	(5)
Stock Dividends and Stock Splits by a Subsidiary	265	(18)
Electronic Supplement to Chapter 8
Indirect and Mutual Holdings	283	(36)
Affiliation Structures	283	(2)
Indirect Holdings---Father-Son-Grandson Structure	285	(4)
Indirect Holdings---Connecting Affiliates Structure	289	(4)
Mutual Holdings---Parent Stock Held by Subsidiary	293	(10)
Subsidiary Stock Mutually Held	303	(16)
Electronic Supplement to Chapter 9
Subsidiary Preferred Stock, Consolidated Earnings per Share, and Consolidated Income Taxation	319	(52)
Subsidiaries with Preferred Stock Outstanding	319	(8)
Parent-Company and Consolidated Earnings per Share	327	(2)
Subsidiary with Convertible Preferred Stock	329	(1)
Subsidiary With Options and Convertible Bonds	330	(2)
Accounting for Income Taxes of Consolidated Entities	332	(1)
Income Tax Allocation	333	(3)
Separate-Company Tax Returns with Intercompany Gain	336	(2)
Effect of Consolidated and Separate-Company Tax Returns on Consolidated Procedures	338	(10)
Business Combinations	348	(3)
Financial Statement Disclosures for Income Taxes	351	(20)
Electronic Supplement to Chapter 10
Consolidation Theories, Push-Down Accounting, and Corporate Joint Ventures	371	(42)
Comparison of Consolidation Theories	372	(3)
Illustration---Consolidation Under Parent-Company and Entity Theories	375	(9)
Push-Down Accounting and Other Basis Considerations	384	(7)
Joint Ventures	391	(4)
Accounting for Variable Interest Entities	395	(18)
Electronic Supplement to Chapter 11
Foreign Currency Concepts and Transactions	413	(42)
Foreign Exchange Concepts and Definitions	413	(3)
Foreign Currency Transactions Other than Forward Contracts	416	(5)
FASB Statement No. 133: Accounting for Derivative Instruments and Hedging Activities	421	(5)
Accounting for Hedge Contracts: Illustrations of Cash Flow and Fair Value Hedge Accounting Using Interest Rate Swaps	426	(6)
Foreign Currency Derivatives and Hedging Activities	432	(23)
Foreign Currency Financial Statements	455	(58)
Objectives of Translation and the Functional Currency Concept	455	(2)
Application of the Functional Currency Concept	457	(4)
Illustration: Translation Under Statement No. 52	461	(7)
Illustration: Remeasurement Under Statement No. 52	468	(4)
Hedging a Net Investment in a Foreign Entity	472	(41)
Segment and Interim Financial Reporting	513	(26)
Segment Reporting Under FASB Statement No. 131	513	(6)
Interim Financial Reporting	519	(2)
Guidelines for Preparing Interim Statements	521	(18)
Partnerships---Formation, Operations, and Changes in Ownership Interests	539	(36)
Nature of Partnerships	539	(1)
Initial Investments in a Partnership	540	(2)
Additional Investments and Withdrawals	542	(1)
Partnership Operations	543	(1)
Profit and Loss Sharing Agreements	544	(6)
Changes in Partnership Interests	550	(1)
Purchase of an Interest from Existing Partners	551	(3)
Investing in an Existing Partnership	554	(3)
Dissolution of a Continuing Partnership Through Death or Retirement	557	(2)
Limited Partnerships	559	(16)
Partnership Liquidation	575	(32)
The Liquidation Process	575	(4)
Safe Payments to Partners	579	(2)
Installment Liquidations	581	(5)
Cash Distribution Plans	586	(4)
Insolvent Partners and Partnerships	590	(17)
Corporate Liquidations and Reorganizations	607	(36)
Bankruptcy Reform Act of 1978	607	(3)
Liquidation	610	(1)
Illustration of a Liquidation Case	611	(8)
Reorganization	619	(4)
Financial Reporting During Reorganization	623	(1)
Financial Reporting for the Emerging Company	624	(1)
Illustration of a Reorganization Case	625	(18)
An Introduction to Accounting for State and Local Governmental Units	643	(36)
Historical Development of Accounting Principles for State and Local Governmental Units	643	(2)
Overview of Basic Governmental Accounting Models and Principles	645	(10)
The Financial Reporting Entity	655	(1)
Comprehensive Annual Financial Report	656	(23)
Accounting for State and Local Governmental Units---Governmental Funds	679	(44)
The General Fund	679	(1)
Accounting for the General Fund	679	(10)
Special Revenue Funds	689	(1)
Permanent Funds	690	(1)
Capital Projects Funds	691	(4)
Special Assessment Activities	695	(1)
Debt Service Funds	696	(2)
Governmental Fund Financial Statements	698	(2)
Preparing the Governmentwide Financial Statements	700	(23)
Accounting for State and Local Governmental Units---Proprietary and Fiduciary Funds	723	(26)
Proprietary Funds	723	(1)
Internal Service Funds	724	(3)
Enterprise Funds	727	(3)
Proprietary Fund Financial Statements	730	(4)
Fiduciary Funds	734	(1)
Agency Funds	734	(2)
Trust Funds	736	(3)
Preparing the Governmentwide Financial Statements	739	(1)
Required Proprietary Fund Note Disclosures	740	(9)
Accounting for Not-For-Profit Organizations	749
The Nature of Not-For-Profit Organizations	749	(1)
Not-For-Profit Accounting Principles	750	(5)
Voluntary Health and Welfare Organizations	755	(6)
``Other'' Not-For-Profit Organizations	761	(1)
Nongovernmental Not-For-Profit Hospitals and Other Health Care Organizations	762	(5)
Private Not-For-Profit Colleges and Universities	767
Appendix A SEC Influence on Accounting	2
The 1933 Securities Act	1	(1)
The Securities Exchange Act of 1934	2	(1)
The Sarbanes-Oxley Act	2	(1)
The Registration Statement for Security Issues	3	(1)
The Integrated Disclosure System	3	(2)
SEC Developments	5
Appendix B Estates and Trusts	1	(1)
Creation of an Estate	1	(1)
Probate Proceedings	1	(1)
Administration of the Estate	2	(1)
Accounting for the Estate	3	(1)
Illustration of Estate Accounting	4	(4)
Accounting for Trusts	8
Glossary	1	(1)
Index	1