9780764162701

The newly updated edition of this authoritative reference volume deserves a place in the library of every accountant, bookkeeper, accounting manager, CPA, CFO, controller, business manager, and business student. An opening overview of financial accounting describes financial statements and presents details on financial reporting requirements and compliance, and USA GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). Chapters that follow cover cost management, as well as taxation forms and their preparation. An extensive A-to-Z dictionary of accounting terms presents short-entry definitions of everything fromAbacusandAbsorption CostingtoZero-Base BudgetingandZ Score.The book's concluding chapters cover information technology in accounting, quantitative methods for accounting, auditing, personal financial planning, governmental and nonprofit accounting, international accounting, and forensic accounting. Appendices cover recent accounting-related legislation, financial reporting differences among different countries, and more.

Preface	p. vii
Financial Accounting: The Financial Statements	p. 1
Income Statement Reporting	p. 1
Balance Sheet	p. 14
Statement of Cash Flows	p. 34
Financial Accounting: Financial Reporting Requirements	p. 45
Interim Reporting	p. 45
Hierarchy of GAAP	p. 47
FASB Accounting Standards Codification (ASC)	p. 48
Accounting Changes	p. 49
Prior Period Adjustments	p. 51
Disclosure of Accounting Policies	p. 52
Segmental Reporting	p. 52
Imputing Interest on Notes	p. 54
Business Combinations	p. 55
Consolidation	p. 60
Investments in Securities	p. 64
Fair Value Measurements	p. 70
Fair Value Option for Financial Assets and Financial Liabilities	p. 72
Leases	p. 78
Pension Plans	p. 84
Income Tax Accounting	p. 95
Foreign Currency Translation and Transactions	p. 99
Financial Instruments	p. 102
Related Parties	p. 106
Management Accounting/Cost Management I	p. 107
Introduction: The Role of Management Accounting	p. 107
Cost Accounting vs. Cost Management	p. 108
Processing Cost Data for Cost Accumulation	p. 116
Cost Concepts, Terms, and Classifications	p. 116
Cost-Accumulation Systems	p. 120
Costing Joint Products and By-products	p. 132
Allocation of Service Department Costs to Production Departments	p. 133
Activity-Based Costing	p. 136
Activity-Based Management	p. 140
Just-in-Time (JIT) and Total Quality Management (TQM)	p. 147
Measuring Quality Costs	p. 151
Backflush Costing	p. 154
Throughput	p. 154
Environmental Costs and Ecoefficiency	p. 157
Life-Cycle Costs and Target Costing	p. 161
Using Cost Data for Planning	p. 166
Cost Behavior Analysis-Analysis of Mixed Costs	p. 166
Cost-Volume-Profit (CVP) and Break-Even Analysis	p. 177
Absorption Versus Variable Costing	p. 184
Budgeting for Profit Planning	p. 188
A Shortcut Approach to Formulating the Budget	p. 199
Management Accounting/Cost Management II	p. 201
Using Cost Data for Control	p. 201
Responsibility Accounting: Introduction	p. 201
Standard Costs and Variance Analysis for Cost Centers	p. 202
Segmental Reporting for Profit Centers	p. 226
Responsibility Accounting for Investment Centers	p. 236
Balanced Scorecard	p. 242
Transfer Pricing	p. 244
Using Cost Data for Decision Making	p. 249
Short-Term and Nonroutine Decisions	p. 249
Capital Budgeting Decisions	p. 259
How Does MACRS Affect Investment Decisions?	p. 268
Financial Statement Analysis	p. 274
Importance	p. 274
Horizontal Analysis	p. 275
Ratio Analysis	p. 279
Summary and Limitations of Ratio Analysis	p. 296
Individual Income Taxation: Preparation and Planning	p. 308
How to Postpone Taxes	p. 308
Sources of Tax-Exempt Income	p. 309
How to Delay Paying Tax on Interest	p. 311
Gains or Losses on Securities Transactions	p. 312
Tax Strategies When Children Are Involved	p. 313
Itemized Deductions	p. 314
Self-Employment	p. 319
Personal Exemptions	p. 319
Standard Deduction	p. 320
Tax Implications of Pension Plans	p. 320
Real Estate Transactions	p. 322
Gifts	p. 323
Determination of Tax	p. 324
Estate Planning	p. 326
Advantages of Having a Trust	p. 328
Alternative Minimum Tax	p. 329
Dictionary of Accounting Terms	p. 332
Information Technology in Accounting	p. 778
Accounting Packages	p. 778
Activity-Based Costing (ABC) Software	p. 785
Spreadsheets (Electronic Worksheets)	p. 788
Auditing Tasks	p. 791
Spreadsheet-Program-Assisted Auditing	p. 794
Tax Preparation and Planning	p. 797
Using Database Management Systems (DBMS)	p. 798
Software Systems That Impact Value Chain Management	p. 799
Wireless Technology	p. 800
Quantitative Methods for Accounting	p. 816
Decision Making	p. 816
Linear Programming and Shadow Pricing	p. 821
Learning Curve	p. 827
Inventory Planning	p. 828
Program Evaluation and Review Technique (PERT)	p. 835
Auditing and Internal Control Over Financial Reporting	p. 841
Sarbanes-Oxley Act and the Public Company Accounting Oversight Board (PCAOB)	p. 841
Audit Reports	p. 843
Compilation of Financial Statements	p. 851
Review of Financial Statements	p. 853
Reports on Prospective Financial Statements	p. 855
Audit Documentation	p. 863
Internal Auditing	p. 863
Section 404 of the Sarbanes-Oxley Act	p. 865
The Sox Section 302 and Section 906 Considerations	p. 875
Personal Financial Planning	p. 882
Objectives of Personal Financial Planning	p. 882
Governmental and Nonprofit Accounting	p. 917
Characteristics of Nonbusiness Organizations	p. 917
Governmental Accounting	p. 919
Nonprofit Organizations and Financial Reporting	p. 950
International Accounting and International Financial Reporting Standards (IFRS)	p. 957
Introduction: Accounting Dimensions of International Business	p. 958
Foreign Currency Exchange Rates	p. 959
U.S. GAAP vs. IFRS	p. 968
Required Financial Statements and Structural Differences in Primary Financial Reporting	p. 969
IFRS Differences Affecting the Statement of Financial Position	p. 971
IFRS Differences Affecting the Income Statement	p. 976
Forensic Accounting	p. 980
Why is Forensic Accounting Necessary?	p. 981
When Does One Employ a Forensic Accountant?	p. 982
Where Is a Forensic Accountant Used?	p. 983
How Does a Forensic Accountant Work?	p. 984
Forensic Accounting and Fraud Examination	p. 985
Forensic Specialists' Investigation Procedure	p. 987
Forensic Computing and the Use of Technology	p. 988
IT and Data Mining Used to Detect Corporate Fraud	p. 989
A Case in Forensic Accounting	p. 990
Appendices	p. 1006
Summary of the Sarbanes-Oxley Act of 2002	p. 1006
Sarbanes-Oxley Compliance Practice Aid	p. 1018
Index	p. 1042
Table of Contents provided by Ingram. All Rights Reserved.

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Accounting Handbook

0764162705

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