Accounting : Chapters 1-13

by Horngren, Charles T.; Harrison, Walter T.

• ISBN13: 9780132249959
• ISBN10: 0132249952
• Edition: 7th
• Format: Paperback
• Copyright: 2007-01-01
• Publisher: Prentice Hall

Summary

The Horngren System of instruction replicates the classroom experience by providing more "I get it" moments outside of class. Wers"ve talked to tons of POA instructors and our editors have even taken the accounting course (numerous times!) to figure out the following issue in this course that is consistent: Students understand (or "get it") right after you do a problem in class, but as soon as they leave class, with each passing hour, their ability to do the problems again and complete their homework diminishes to the point of them either having to come to office hours to get help, or they just quit and get behind in the course. On top of this, you can end up getting behind in the course as well, in order to keep everyone on track. The Horngren system helps to recreate the "I get it" moments outside of class-keeping both you and the students on track.

Table of Contents

Accounting and the Business Environment Vignette: Sherman Lawn Service and DeFilippo Catering

Accounting: The Language of Business

Decision Makers: The Users of Accounting Information

Financial Accounting and Management Accounting

The Accounting Profession Governing Organizations

Ethics in Accounting and Business Standards of Professional Conduct

Types of Business Organizations

Accounting Concepts and Principles

The Entity Concept

The Reliability (Objectivity) Principle

The Cost Principle

The Going-Concern Concept

The Stable-Monetary-Unit Concept

The Accounting Equation Assets and Liabilities

Ownerrsquo;s Equity Accounting for Business Transactions

Evaluating Business Transactionsndash;

The User Perspective of Accounting

The Financial Statements

Financial Statement Headings Relationships

Among the Financial Statements

j Decision Guidelines

c Summary

Problem

Review: Accounting and the Business Environment, Quick Check/Accounting

Vocabulary Assess Your Progress, Short Exercises/Exercises/Problems (Group A)/Problems (Group B)

Apply Your Knowledge, Decision Cases/Ethical Issues/Financial Statement Case/Team Projects

Recording Business Transactions Vignette: Sherman Lawn Service and DeFilippo Catering

The Account, the Ledger, and the Journal Assets Liabilities Ownerrsquo;s Equity

Chart of Accounts

Double-Entry Accounting

The T-Account Increases and Decreases in the Accounts

Recording Transactions in the Journal Posting (Copying Information) from the Journal to the Ledger

Expanding the Rules of Debit and Credit: Revenues and Expenses

The Normal Balance of an Account

The Flow of Accounting Data Source Documents Journalizing Transactions and Posting to the Ledger

7e_FMsamp_0132439603.QXD 6/29/06 3:16 PM Page iii The Ledger Accounts After Posting

The Trial Balance Details of Journals and Ledgers

Details in the Ledger Correcting Trial Balance Errors

The Four-Column Account: An Alternative to the T-Account Recording Transactions From Actual Business Documents

j Decision Guidelines

c Summary

Problem

Review: Recording Business Transactions, Quick Check/Accounting

Vocabulary Assess Your Progress, Short Exercises/Exercises/Problems (Group A)/Problems (Group B)/Continuing

Problem Apply Your Knowledge, Decision Cases/Ethical Issue/Financial Statement Case/Team Project c Demo Doc: Debit/Credit Transaction Analysis c Demo Doc Solutions

The Adjusting Process Vignette: Cookie Lapp

Travel Accounting Concepts and Principles

Accrual Accounting versus Cash-Basis Accounting

The Accounting Period

The Revenue Principle

The Matching Principle

The Time-Period Concept Adjusting the Accounts Prepaids and Accruals Prepaid Expenses

Depreciation Accrued Expenses Accrued Revenues Unearned Revenues Summary of the Adjusting Process

The Adjusted Trial Balance

The Financial Statements

Preparing the Statements Relationships Among the Financial Statements

Ethical Issues in Accrual Accounting

j Decision Guidelines

c Summary

Problem

Review: The Adjusting Process, Quick Check/Accounting Vocabulary Assess Your Progress, Short Exercises/Exercises/Problems (Group A)/Problems (Group B)

Apply Your Knowledge, Decision Cases/Ethical Issue/Financial Statement Case/Team Project

Alternative Treatment of Prepaid Expenses and Unearned Revenues

Completing the Accounting Cycle Vignette: Sherman Lawn Service and DeFilippo Catering

The Accounting Cycle

The Work Sheet

Summary

Problem

1 iv Contents

Completing the Accounting Cycle

Preparing the Financial Statements

Recording the Adjusting Entries Closing the Accounts

Postclosing Trial Balance Classifying Assets and Liabilities Assets

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