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Understanding Financial Statements

by ;
Edition:
6th
ISBN13:

9780130277824

ISBN10:
0130277827
Format:
Paperback
Pub. Date:
6/1/2000
Publisher(s):
PRENTICE HALL

Questions About This Book?

What version or edition is this?
This is the 6th edition with a publication date of 6/1/2000.
What is included with this book?
  • The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any CDs, lab manuals, study guides, etc.

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Summary

A supplementary text for a variety of Business courses, including Principles of Financial Accounting, Intermediate Accounting, Investments, Personal Finance, and Financial Planning and Analysis. In Understanding Financial Statements 6/e, Lyn Fraser and Aileen Ormiston teach students how to work through the obstacle course of data that make up a company's financial statements. They show what paths to follow in order to glean out the information needed to ultimately determine the financial health of a business. By using examples, illustrations, and explanations, the authors get behind the numbers and accounting policies to assess how well companies are actually performing. And, with an emphasis on analysis, the book breaks financial statements into parts for individual study so that students better understand the whole of their content as a map to intelligent decision-making. Adopt the new edition of Fraser/Ormiston and your students will have financial statements at their command!

Table of Contents

Preface xiii
Uses of the Sixth Edition xiv
Features of the Sixth Edition xv
Acknowledgments xvii
Financial Statements: An Overview
1(49)
Map or Maze
1(4)
Organization
3(1)
Usefulness
4(1)
Volume of Information
5(12)
The Financial Statements
5(4)
Notes to the Financial Statements
9(4)
Auditor's Report
13(2)
Other Required Information
15(1)
Pandora (A.K.A. ``PR Fluff'')
16(1)
Complexity
17(5)
Alphabet Soup
17(2)
A Global Marketplace
19(1)
Mythical Mountain
19(3)
Other Discretionary Issues
22(1)
More Complications
22(2)
Quality of Financial Reporting
24(6)
Accounting Policies, Estimates---Choices and Changes
25(1)
Timing of Revenue and Expense Recognition
26(1)
Discretionary Items
27(1)
Non-recurring and Non-operating Items
28(2)
Impact of Inflation
30(1)
Missing and Hard-to-Find Information
31(2)
Self-Test
33(3)
Study Questions and Problems
36(2)
La-Z-Boy Mini-Case
38(4)
Chambers Development Company Mini-Case
42(8)
The Balance Sheet
50(40)
Financial Condition
51(2)
Consolidation
51(1)
Balance Sheet Date
51(2)
Comparative Data
53(1)
Assets
53(10)
Current Assets
53(1)
Cash and Marketable Securities
54(1)
Accounts Receivable
55(1)
Inventories
56(1)
Inventory Accounting Methods
57(3)
Prepaid Expenses
60(1)
Property, Plant, and Equipment
60(2)
Other Assets
62(1)
Liabilities
63(6)
Current Liabilities
63(1)
Accounts Payable
64(1)
Notes Payable
64(1)
Current Maturities of Long-Term Debt
64(1)
Accrued Liabilities
64(1)
Unearned Revenue or Deferred Credits
65(1)
Deferred Federal Income Taxes
65(3)
Long-Term Debt
68(1)
Other Liabilities
68(1)
Stockholders' Equity
69(3)
Common Stock
69(1)
Additional Paid-In Capital
69(1)
Retained Earnings
70(1)
Other Equity Accounts
70(1)
Other Balance Sheet Items
71(1)
Self-Test
72(4)
Study Questions and Problems
76(3)
Intel Corporation Mini-Case
79(4)
The Rival Company Mini-Case
83(7)
Income `Statement and Statement of Stockholders' Equity
90(29)
The Income Statement
91(9)
Net Sales
93(1)
Cost of Goods Sold
94(1)
Gross Profit
95(1)
Operating Expense
95(1)
Depreciation and Amortization
96(1)
Operating Profit
97(1)
Other Income (Expense)
98(1)
Earnings Before Income Taxes
98(1)
Net Earnings
98(1)
Earnings Per Common Share
99(1)
Comprehensive Income
99(1)
The Statement of Stockholders' Equity
100(6)
Earnings Quality, Inflation, Cash Flow, Segmental Accounting
106(1)
Self-Test
106(4)
Study Questions and Problems
110(3)
Time Warner Mini-Case
113(3)
Compaq Computer Corporation Mini-Case
116(3)
Statement of Cash Flows
119(35)
Preparing a Statement of Cash Flows
120(5)
Calculating Cash Flow from Operating Activities
125(5)
Direct Method
125(3)
Indirect Method
128(2)
Cash Flow from Investing Activities
130(1)
Cash Flow from Financing Activities
130(1)
Change in Cash
131(2)
Analyzing the Statement of Cash Flows
133(5)
Cash Flow from Operations
133(1)
Nocash Corporation
134(2)
Help from a Statement of Cash Flows
136(1)
Summary Analysis of the Statement of Cash Flows
137(1)
Self-Test
138(4)
Study Questions and Problems
142(6)
PETsMART Mini-Case
148(3)
Royal Appliance Mfg. Co. and Subsidiaries Mini-Case
151(3)
The Analysis of Financial Statements
154(65)
Objective of Analysis
154(2)
Sources of Information
156(2)
Auditor's Report
156(1)
Management Discussion and Analysis
156(1)
Supplementary Schedules
156(1)
Form 10-K and Form 10-Q
156(1)
Other Sources
157(1)
Tools and Techniques
158(13)
Common Size Financial Statements
158(3)
Key Financial Ratios
161(1)
Liquidity Ratios: Short-Term Solvency
161(3)
Activity Ratios: Asset Liquidity, Asset Management Efficiency
164(3)
Leverage Ratios: Debt Financing and Coverage
167(2)
Profitability Ratios: Overall Efficiency and Performance
169(2)
Analyzing the Data
171(14)
Background: Economy, Industry, and Firm
172(1)
Short-Term Liquidity
173(2)
Net Trade Cycle
175(1)
Capital Structure and Long-Term Solvency
176(1)
Example of Financial Leverage
176(3)
Operating Efficiency and Profitability
179(1)
Relating the Ratios---The Du Pont System
180(2)
Projections, Pro Forma Statements, and Market Ratios
182(1)
Summary of Analysis
183(1)
Map
184(1)
Self-Test
185(5)
Study Questions and Problems
190(15)
First Team Sports Inc. Mini-Case
205(8)
L.A. Gear Inc. Mini-Case
213(6)
Appendixes 219(44)
A A Guide to Earnings Quality
219(15)
B The Analysis of Segmental Data
234(7)
C Understanding Bank Financial Statements
241(10)
D Solutions to Self-Tests
251(2)
E Summary of Financial Ratios
253(2)
F Glossary
255(8)
Index 263


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