Accounting

by Minars, David

• ISBN13: 9780764120015
• ISBN10: 0764120018
• Edition: 2nd
• Format: Paperback
• Copyright: 2003-04-01
• Publisher: Barrons Educational Series Inc

Summary

EZ-101 Accounting covers nearly 100 topics, starting with the definition ofccounting, describing the accounting equation, and showing how to recordransactions, determine assets and liabilities, profit and loss, and muchore. For more than a decade, titles in this handy, quick-study series haveelped many college freshmen and others taking introductory 101-level collegeourses. Designed to be compatible with virtually all standard textbooks inheir target subjects, EZ-101 Study Keys outline and organize subjectaterial so that it resembles classroom lecture notes taken by the mostighly attentive students. As such, these books provide a general overview ofourse material, and are ideal for students' brush-up and review studyessions before taking examinations or writing class papers.

Table of Contents

Accounting as an information system	p. 1
Users of accounting information	p. 2
Branches of accounting	p. 3
Three basic forms of business organization	p. 4
Accounting principles	p. 5
Principles of accounting and financial statements	p. 7
Accounting equation	p. 8
Double entry accounting	p. 10
Income statement	p. 13
Balance sheet	p. 15
Capital statement	p. 16
Corporate stockholders' equity	p. 17
Recording business transactions	p. 18
The account	p. 19
General ledger	p. 20
Posting entries from the journal to the accounts	p. 21
Ledger accounts after posting	p. 23
Preparing a trial balance	p. 24
Completion of the accounting cycle--adjusting and closing entries	p. 25
Revenues and expenses	p. 26
Prepaid expenses	p. 27
Unearned revenues	p. 28
Accrued expenses	p. 29
Accrued revenues	p. 30
Adjusting for depreciation	p. 31
Closing entries	p. 32
Post-closing trial balance	p. 34
How to prepare a worksheet and financial statements	p. 36
Worksheet	p. 37
Preparing a worksheet for a service business	p. 38
Using the worksheet to prepare the financial statements	p. 39
Classification of assets and liabilities on the balance sheet	p. 43
Preparation of the financial statements from the worksheet	p. 44
Computerized accounting systems	p. 46
Components of a computer system	p. 47
Spreadsheets	p. 48
Processing cash receipts	p. 49
Processing cash receipts	p. 50
Bank reconciliation	p. 51
Preparation of bank reconciliation	p. 52
Petty cash	p. 54
Short-term investments	p. 56
Short-term investments defined	p. 57
Held-to-maturity securities	p. 58
Trading securities	p. 59
Available-for-sale securities	p. 62
Accounts and notes receivable	p. 64
Accounts receivable	p. 65
Worthless accounts receivable	p. 66
Write-off of an account receivable	p. 68
Aging method	p. 69
Direct write-off method	p. 71
Notes receivable	p. 72
Discounting a note receivable	p. 74
Dishonored notes receivable	p. 76
Accounting for merchandise inventory	p. 78
Merchandising enterprises	p. 79
Merchandise inventory systems	p. 80
Merchandise inventory on the income statement	p. 81
Ending inventory	p. 83
Inventory costing methods	p. 84
Lower of cost or market	p. 86
Plant assets, depreciation, and intangible assets	p. 87
Plant, property, and equipment	p. 88
Determining depreciation	p. 90
Straight line depreciation	p. 91
Declining balance depreciation	p. 92
Sum-of-the-years'-digits depreciation	p. 93
Units-of-production method of depreciation	p. 94
Disposal of plant and equipment	p. 95
Intangible assets	p. 96
Depletion	p. 97
Liabilities	p. 98
Current liabilities	p. 99
Merchandise bought on account	p. 100
Notes payable	p. 101
Advance payments from customers	p. 102
Taxes and other payroll deductions	p. 103
Noncurrent liabilities	p. 104
Accounting for the sale of bonds	p. 105
Sale of bonds at a premium	p. 106
Sale of bonds at a discount	p. 108
Repayment of bonds payable at maturity	p. 110
Mortgage notes payable	p. 111
Partnerships	p. 112
Definition of a partnership	p. 113
Partners' equity	p. 114
Division of profits and losses	p. 116
Additional investments, division of profits, closing entries, and capital statement	p. 118
Admission of a new partner	p. 120
Liquidation of a partnership	p. 122
Formation and operation of the corporation	p. 125
Forming the corporation	p. 126
Issuance of stock	p. 127
Participating and cumulative preferred stock	p. 129
Treasury stock	p. 131
Retained earnings	p. 133
Cash dividends	p. 134
Stock dividends	p. 135
Appropriations of retained earnings	p. 137
Stock splits	p. 138
Book value per share	p. 139
Analysis of financial statements	p. 141
How to analyze a financial statement	p. 142
Liquidity ratios	p. 143
Activity ratios	p. 146
Profitability ratios	p. 148
Statement of cash flows	p. 149
Cash flows	p. 150
Operating activities	p. 151
Investing activities	p. 152
Financing activities	p. 153
Presentation of the cash flow statement	p. 154
International accounting	p. 156
Foreign sales	p. 157
Foreign purchases	p. 160
Recording exchange gain or loss between accounting periods	p. 163
Long-term investments	p. 165
Held-to-maturity	p. 166
Available-for-sale	p. 169
Accounting for long-term investments in stock	p. 173
Consolidated financial statements	p. 179
Glossary	p. 183
Index	p. 202
Table of Contents provided by Rittenhouse. All Rights Reserved.