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9780072977356

Advanced Financial Accounting with Online Learning Center with PowerWeb Card

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  • ISBN13:

    9780072977356

  • ISBN10:

    0072977353

  • Edition: 6th
  • Format: Hardcover
  • Copyright: 2004-04-28
  • Publisher: McGraw-Hill/Irwin
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Table of Contents

Intercorporate Acquisitions and Investments in Other Entities
1(49)
The Development of Complex Business Structures
2(1)
Enterprise Expansion
2(1)
Organizational Structure and Business Objectives
2(1)
Organizational Structure and Ethical Considerations
3(1)
Business Expansion and Forms of Organizational Structure
3(4)
Expansion from within
3(1)
Expansion through Business Combinations
4(1)
Frequency of Business Combinations and Complex Entities
5(1)
Organizational Structure and Financial Reporting
6(1)
Creating Business Entities
7(1)
Business Combinations
8(6)
Forms of Business Combinations
9(1)
Methods of Effecting Business Combinations
10(1)
Valuation of Business Entities
11(2)
Accounting and Reporting Methods
13(1)
Purchase Accounting for Business Combinations
14(9)
Determining the Purchase Price
14(1)
Combination Effected through Purchase of Net Assets
15(6)
Combination Effected through Purchase of Stock
21(1)
Financial Reporting Subsequent to a Purchase
21(1)
Disclosure Requirements
22(1)
Summary of Key Concepts
23(1)
Key Terms
24(1)
Questions
24(1)
Cases
24(3)
Exercises
27(11)
Problems
38(12)
Reporting Intercorporate Interests
50(47)
Accounting for Investments in Common Stock
50(2)
The Cost Method
52(3)
Accounting Procedures under the Cost Method
52(1)
Declaration of Dividends in Excess of Earnings since Acquisition
53(1)
Acquisition at Interim Date
54(1)
Changes in the Number of Shares Held
54(1)
The Equity Method
55(8)
Use of the Equity Method
55(1)
Investor's Equity in the Investee
56(1)
Recognition of Income
56(1)
Recognition of Dividends
56(1)
Carrying Amount of the Investment
57(1)
Acquisition at Interim Date
57(1)
Difference between Cost of Investment and Underlying Book Value
58(4)
Changes in the Number of Shares Held
62(1)
The Cost and Equity Methods Compared
63(2)
Interests Other than Investments in Common Stock
65(3)
Investments in Partnerships
65(3)
Nonequity Interests in Other Companies
68(1)
Additional Considerations Relating to the Equity Method
68(6)
Determination of Significant Influence
68(1)
Unrealized Intercompany Profits
69(1)
Additional Requirements of APB 18
70(1)
Investor's Share of Other Comprehensive Income
71(1)
Tax Allocation Procedures
71(3)
Accounting for Investments in Subsidiaries
74(1)
Summary of Key Concepts
74(1)
Key Terms
75(1)
Questions
75(1)
Cases
76(2)
Exercises
78(8)
Problems
86(11)
The Reporting Entity and Consolidated Financial Statements
97(43)
Usefulness of Consolidated Financial Statements
98(1)
Long-Term Investors
98(1)
Parent Company Management
98(1)
Limitations of Consolidated Financial Statements
99(1)
Subsidiary Financial Statements
99(1)
Consolidated Reporting Decision: Concepts and Standards
100(5)
Traditional View of Control
100(1)
Indirect Control
100(1)
Ability to Exercise Control
101(1)
Differences in Fiscal Periods
101(1)
Changing Concept of the Reporting Entity
101(1)
Special-Purpose and Variable Interest Entities
102(3)
Overview of the Consolidation Process
105(1)
The Consolidation Process Illustrated
105(6)
The Consolidated Entity
106(4)
Mechanics of the Consolidation Process
110(1)
Noncontrolling Interest
111(1)
Combined Financial Statements
112(1)
Additional Considerations---Different Approaches to Consolidation
112(5)
Proprietary Theory
113(1)
Parent Company Theory
114(1)
Entity Theory
115(1)
Current Practice
116(1)
Future Practice
117(1)
Summary of Key Concepts
117(1)
Key Terms
118(1)
Consolidation of Variable Interest Entities
118(1)
Questions
119(1)
Cases
120(2)
Exercises
122(9)
Problems
131(9)
Consolidation as of the Date of Acquisition
140(45)
Consolidation Workpapers
140(2)
Workpaper Format
140(1)
Nature of Eliminating Entries
141(1)
Preparation of Consolidated Balance Sheet Immediately Following Acquisition of Full Ownership
142(13)
Full Ownership Purchased at Book Value
143(3)
Full Ownership Purchased at More than Book Value
146(1)
Treatment of a Positive Differential
147(2)
Illustration of Treatment of Debit Differential
149(2)
Full Ownership Purchased at Less than Book Value
151(2)
Illustration of Treatment of Credit Differential
153(2)
Ownership Purchased at More than Book Value and Less than Fair Value
155(1)
Preparation of Consolidated Balance Sheet Immediately Following Acquisition of Controlling Interest
155(6)
Controlling Ownership Purchased at Book Value
155(3)
Controlling Ownership Purchased at More than Book Value
158(1)
Illustration of Treatment of Debit Differential
158(2)
Full Fair Value and Goodwill Approach
160(1)
Controlling Ownership Purchased at Less than Book Value
161(1)
Intercorporate Receivables and Payables
161(1)
Additional Considerations
161(3)
Asset and Liability Valuation Accounts at Acquisition
161(2)
Negative Retained Earnings of Subsidiary at Acquisition
163(1)
Other Stockholders' Equity Accounts
163(1)
Push-Down Accounting
163(1)
Summary of Key Concepts
164(1)
Key Terms
164(1)
Questions
165(1)
Cases
165(2)
Exercises
167(9)
Problems
176(9)
Consolidation Following Acquisition
185(81)
Overview of the Consolidation Process
185(3)
Consolidated Net Income
186(1)
Consolidated Retained Earnings
187(1)
Workpaper Format
188(1)
Consolidation---100 Percent Ownership
188(7)
Year of Combination
190(3)
Second and Subsequent Years of Ownership
193(2)
Consolidation---Controlling Ownership Purchased at Book Value
195(7)
Year of Combination
196(4)
Second Year of Ownership
200(2)
Consolidation---Controlling Ownership Purchased at More than Book Value
202(11)
Year of Combination
202(6)
Second Year of Ownership
208(5)
Treatment of Other Comprehensive Income
213(6)
Modification of the Consolidation Workpaper
214(1)
Adjusting Entry Recorded by Subsidiary
214(1)
Adjusting Entry Recorded by Parent Company
215(1)
Consolidation Workpaper---Second Year Following Combination
215(1)
Consolidation Procedures
215(2)
Consolidation Workpaper---Comprehensive Income in Subsequent Years
217(2)
Discontinuance of Consolidation
219(1)
Additional Considerations Relating to the Assignment of Differential
219(3)
Subsidiary's Disposal of Differential-Related Assets
219(2)
Differential Assigned to Liabilities
221(1)
Summary of Key Concepts
222(1)
Key Terms
222(1)
Consolidation and the Cost Method
222(7)
Push-Down Accounting Illustrated
229(3)
Questions
232(1)
Cases
233(2)
Exercises
235(14)
Problems
249(17)
Intercorporate Transfers: Noncurrent Assets
266(70)
Overview of the Consolidated Entity
266(4)
Elimination of Intercorporate Transfers
267(1)
Elimination of Unrealized Profits and Losses
267(3)
Intercompany Transfers of Services
270(1)
Asset Transfers Involving Land
270(13)
Overview of the Profit Elimination Process
270(2)
Assignment of Unrealized Profit Elimination
272(2)
Downstream Sale
274(3)
Upstream Sale
277(4)
Eliminating Unrealized Profits after the First Year
281(1)
Subsequent Disposition of Asset
282(1)
Asset Transfers Involving Depreciable Assets
283(16)
Downstream Sale
283(9)
Change in Estimated Life of Asset upon Transfer
292(1)
Upstream Sale
293(6)
Asset Transfers before Year-End
299(1)
Asset Transfers Involving Amortizable Assets
299(1)
Summary of Key Concepts
300(1)
Key Terms
300(1)
Intercorporate Transfers of Noncurrent Assets---Fully Adjusted Equity Method and Cost Method
300(10)
Questions
310(1)
Cases
311(1)
Exercises
312(8)
Problems
320(16)
Intercompany Inventory Transactions
336(54)
General Overview
336(2)
Transfers at Cost
336(1)
Transfers at a Profit or Loss
337(1)
Effect of Type of Inventory System
337(1)
Downstream Sale of Inventory
338(9)
Resale in Period of Intercorporate Transfer
338(2)
Resale in Period Following Intercorporate Transfer
340(6)
Inventory Held Two or More Periods
346(1)
Upstream Sale of Inventory
347(4)
Basic Equity-Method Entries---20X1
348(1)
Consolidation Workpaper---20X1
348(2)
Consolidated Net Income---20X1
350(1)
Basic Equity-Method Entries---20X2
350(1)
Consolidation Workpaper---20X2
350(1)
Consolidated Net Income---20X2
351(1)
Summary Comparison of Intercompany Inventory Transactions
351(1)
Additional Considerations
351(4)
Sale from One Subsidiary to Another
352(2)
Costs Associated with Transfers
354(1)
Lower of Cost or Market
354(1)
Sales and Purchases before Affiliation
355(1)
Summary of Key Concepts
355(1)
Intercompany Inventory Transactions---Fully Adjusted Equity Method and Cost Method
355(5)
Questions
360(1)
Cases
360(3)
Exercises
363(9)
Problems
372(18)
Intercompany Indebtedness
390(52)
Consolidation Overview
390(2)
Bond Sale Directly to an Affiliate
392(3)
Transfer at Par Value
392(1)
Transfer at a Discount or Premium
392(3)
Bonds of Affiliate Purchased from a Nonaffiliate
395(16)
Purchase at Book Value
396(1)
Purchase at an Amount Less than Book Value
396(14)
Purchase at an Amount Greater than Book Value
410(1)
Summary of Key Concepts
411(1)
Key Terms
411(1)
Intercompany Indebtedness---Fully Adjusted Equity Method and Cost Method
411(5)
Questions
416(1)
Cases
417(2)
Exercises
419(6)
Problems
425(17)
Consolidation Ownership Issues
442(53)
Subsidiary Preferred Stock Outstanding
442(7)
Consolidation with Subsidiary Preferred Stock Outstanding
442(2)
Subsidiary Preferred Stock Held by Parent
444(2)
Subsidiary Preferred Stock with Special Provisions
446(1)
Illustration of Subsidiary Preferred Stock with Special Features
447(2)
Changes in Parent Company Ownership
449(13)
Parent's Purchase of Additional Shares from Nonaffiliate
449(2)
Parent's Sale of Subsidiary Shares to Nonaffiliate
451(4)
Subsidiary's Sale of Additional Shares to Nonaffiliate
455(3)
Subsidiary's Sale of Additional Shares to Parent
458(1)
Subsidiary's Purchase of Shares from Nonaffiliate
459(1)
Subsidiary's Purchase of Shares from Parent
460(2)
Complex Ownership Structures
462(11)
Multilevel Ownership and Control
462(5)
Reciprocal or Mutual Ownership
467(6)
Subsidiary Stock Dividends
473(2)
Illustration of Subsidiary Stock Dividends
473(1)
Impact on Subsequent Periods
474(1)
Summary of Key Concepts
475(1)
Key Terms
475(1)
Illustration of Consolidated Net Income Computation in a Complex Ownership Situation
475(2)
Questions
477(1)
Cases
478(1)
Exercises
479(7)
Problems
486(9)
Additional Consolidation Reporting Issues
495(39)
Consolidated Statement of Cash Flows
495(4)
Preparation of a Consolidated Cash Flow Statement
495(1)
Consolidated Cash Flow Statement Illustrated
496(1)
Consolidated Cash Flow Statement---Direct Method
497(2)
Consolidation Following an Interim Acquisition
499(6)
Consolidation Following an Interim Purchase
499(6)
Consolidation Income Tax Issues
505(5)
Allocation of Tax Expense When a Consolidated Return Is Filed
505(1)
Tax Effects of Unrealized Intercompany Profit Eliminations
506(4)
Consolidated Earnings per Share
510(3)
Computation of Diluted Consolidated Earnings per Share
510(1)
Computation of Consolidated Earnings per Share Illustrated
511(2)
Summary of Key Concepts
513(1)
Key Terms
514(1)
Questions
514(1)
Cases
515(1)
Exercises
516(6)
Problems
522(12)
Multinational Accounting: Foreign Currency Transactions and Financial Instruments
534(77)
The Accounting Issues
536(1)
Foreign Currency Exchange Rates
536(6)
The Determination of Exchange Rates
537(1)
Direct versus Indirect Exchange Rates
537(2)
Changes in Exchange Rates
539(3)
Spot Rates versus Current Rates
542(1)
Forward Exchange Rates
542(1)
Foreign Currency Transactions
542(6)
Foreign Currency Import and Export Transactions
544(4)
Managing International Currency Risk with Foreign Currency Forward Exchange Financial Instruments
548(20)
Derivatives Designated as Hedges
549(2)
Forward Exchange Contracts
551(1)
Case 1: Managing an Exposed Foreign Currency Net Asset or Liability Position: Not a Designated Hedging Instrument
552(6)
Case 2: Hedging an Unrecognized Foreign Currency Firm Commitment: A Foreign Currency Fair Value Hedge
558(4)
Case 3: Hedging a Forecasted Foreign Currency Transaction: A Foreign Currency Cash Flow Hedge
562(2)
Case 4: Speculation in Foreign Currency Markets
564(3)
Foreign Exchange Matrix
567(1)
Additional Considerations
568(1)
A Note on Measuring Hedge Effectiveness
568(1)
Interperiod Tax Allocation for Foreign Currency Gains (Losses)
568(1)
Hedges of a Net Investment in a Foreign Entity
568(1)
Summary of Key Concepts
569(1)
Key Terms
569(1)
Illustration of Valuing Forward Exchange Contracts with Recognition for the Time Value of Money
569(4)
Use of Other Financial Instruments by Multinational Companies
573(14)
Questions
587(1)
Cases
588(2)
Exercises
590(11)
Problems
601(10)
Multinational Accounting: Translation of Foreign Entity Statements
611(60)
Differences in Accounting Principles
611(2)
Determining the Functional Currency
613(2)
Functional Currency Designation in Highly Inflationary Economies
614(1)
Translation versus Remeasurement of Foreign Financial Statements
615(1)
Translation of Functional Currency Statements into the Reporting Currency of the U.S. Company
616(13)
Financial Statement Presentation of Translation Adjustment
617(1)
Illustration of Translation and Consolidation of a Foreign Subsidiary
618(9)
Noncontrolling Interest of a Foreign Subsidiary
627(2)
Remeasurement of the Books of Record into the Functional Currency
629(3)
Statement Presentation of Remeasurement Gain or Loss
630(1)
Illustration of Remeasurement of a Foreign Subsidiary
631(1)
Summary of Translation versus Remeasurement
632(1)
Foreign Investments and Unconsolidated Subsidiaries
632(2)
Liquidation of a Foreign Investment
634(1)
Hedge of a Net Investment in a Foreign Subsidiary
634(1)
Disclosure Requirements
635(2)
Additional Considerations in Accounting for Foreign Operations and Entities
637(6)
Remeasurement Case Subsequent Consolidation Workpaper
637(2)
Proof of Remeasurement Exchange Gain
639(1)
Statement of Cash Flows
639(1)
Lower-of-Cost-or-Market Inventory Valuation under Remeasurement
639(2)
Intercompany Transactions
641(1)
Income Taxes
642(1)
Translation When a Third Currency Is the Functional Currency
643(1)
Summary of Key Concepts
643(1)
Key Terms
644(1)
Questions
644(1)
Cases
644(5)
Exercises
649(10)
Problems
659(12)
Segment and Interim Reporting
671(54)
Reporting for Segments
671(1)
Segment Reporting Accounting Issues
671(2)
Information about Operating Segments
673(8)
Defining Reportable Segments
673(6)
Comprehensive Disclosure Test
679(1)
Reporting Segment Information
680(1)
Enterprisewide Disclosures
681(3)
Information about Products and Services
681(1)
Information about Geographic Areas
682(1)
Information about Major Customers
683(1)
Interim Financial Reporting
684(1)
The Format of the Interim Financial Report
684(1)
Accounting Issues
685(1)
Discrete versus Integral View of Interim Reporting
685(1)
Accounting Pronouncements on Interim Reporting
685(1)
Reporting Standards for Interim Income Statements
686(11)
Revenue
686(1)
Cost of Goods Sold and Inventory
687(4)
All Other Costs and Expenses
691(1)
Accounting for Income Taxes in Interim Periods
692(4)
Disposal of a Segment or Extraordinary, Unusual, Infrequently Occurring, and Contingent Items
696(1)
Accounting Changes in Interim Periods
697(1)
Cumulative Effect Accounting Changes
697(1)
Retroactive-Type Accounting Changes
697(1)
Adoption of LIFO
698(1)
Summary of Key Concepts
698(1)
Key Terms
698(1)
Questions
698(1)
Cases
699(4)
Exercises
703(10)
Problems
713(12)
SEC Reporting
725(32)
History of Securities Regulation
725(1)
Electronic Data Gathering, Analysis, and Retrieval (EDGAR) System
726(1)
International Harmonization of Accounting Standards for Public Offerings
727(1)
Securities and Exchange Commission
727(4)
Organizational Structure of the Commission
727(1)
Laws Administered by the SEC
728(1)
The Regulatory Structure
729(2)
Integrated Disclosure System
731(1)
Issuing Securities: The Registration Process
731(4)
The Registration Statement
733(1)
SEC Review and Public Offering
734(1)
Accountants' Legal Liability in the Registration Process
734(1)
Periodic Reporting Requirements
735(1)
Accountants' Legal Liability in Periodic Reporting
736(1)
Foreign Corrupt Practices Act of 1977
736(1)
Corporate Governance Activities
737(1)
Sarbanes-Oxley Act of 2002
738(2)
Public Company Accounting Oversight Board
738(1)
Financial Reporting and Auditing Process Changes
739(1)
Separation of Consulting and Auditing Services and Required Audit Partner Rotation
739(1)
Increases in the Role of Audit Committees
739(1)
Other Requirements for Employees and Management and Possible Severe Criminal Penalties for Violations
740(1)
The SEC's Policy-Setting Responsibilities
740(1)
Disclosure Requirements
741(2)
Management Discussion and Analysis
741(1)
Pro Forma Disclosures
742(1)
Additional Considerations
743(1)
Influence on the Practice of Auditing
743(1)
Summary of Key Concepts
743(1)
Key Terms
743(1)
Questions
744(1)
Cases
744(4)
Exercises
748(9)
Partnerships: Formation, Operation, and Changes in Membership
757(55)
Nature of Partnership Entity
758(2)
Definition of a Partnership
758(1)
Formation of a Partnership
758(1)
Other Major Characteristics of Partnerships
759(1)
Accounting for the Formation of a Partnership
760(2)
Illustration of Accounting for Partnership Formation
761(1)
Accounting for Operations of a Partnership
762(1)
Partners' Accounts
762(1)
Allocating Profit or Loss to Partners
763(6)
Illustrations of Profit Allocation
764(4)
Multiple Bases of Profit Allocation
768(1)
Special Profit Allocation Methods
768(1)
Partnership Financial Statements
769(1)
Changes in Membership
769(17)
New Partner Purchases an Interest
770(2)
New Partner Invests in Partnership
772(10)
Determining a New Partner's Investment Cost
782(2)
Retirement of a Partner from the Partnership
784(2)
Summary of Key Concepts
786(1)
Key Terms
786(1)
Tax Aspects of a Partnership
787(1)
Joint Ventures
788(2)
Questions
790(1)
Cases
791(1)
Exercises
792(6)
Problems
798(14)
Partnerships: Liquidation
812(45)
Overview of Partnership Liquidations
812(4)
Dissociation, Dissolution, Termination, and Liquidation of a Partnership
812(1)
Priority of Claims
813(3)
Lump-Sum Liquidations
816(6)
Realization of Assets
816(1)
Expenses of Liquidation
817(1)
Illustration of Lump-Sum Liquidation
817(5)
Installment Liquidations
822(7)
Illustration of Installment Liquidation
822(4)
Cash Distribution Plan
826(3)
Additional Considerations
829(2)
Incorporation of a Partnership
829(2)
Summary of Key Concepts
831(1)
Key Terms
831(1)
Partners' Personal Financial Statements
832(3)
Questions
835(1)
Cases
835(2)
Exercises
837(10)
Problems
847(10)
Governmental Entities: Introduction and General Fund Accounting
857(66)
Expendability of Resources versus Capital Maintenance Objectives
858(1)
History of Governmental Accounting
859(1)
Definitions and Types of Funds
860(2)
Types of Funds
860(2)
Financial Reporting of Governmental Entities
862(3)
Fund Financial Statements: Governmental Funds
863(2)
Measurement Focus and Basis of Accounting (MFBA)
865(4)
Basis of Accounting---Governmental Funds
865(4)
Basis of Accounting---Proprietary Funds
869(1)
Basis of Accounting---Fiduciary Funds
869(1)
Budgetary Aspects of Governmental Operations
869(2)
Recording the Operating Budget
870(1)
Accounting for Expenditures
871(9)
The Expenditure Process
871(2)
Classification of Expenditure Transactions and Accounts
873(1)
Outstanding Encumbrances at the End of the Fiscal Period
874(3)
Expenditures for Inventory
877(2)
Accounting for Fixed Assets
879(1)
Long-Term Debt and Capital Leases
880(1)
Investments
880(1)
Interfund Activities
880(3)
Interfund Loans
881(1)
Interfund Services Provided and Used
882(1)
Interfund Transfers
882(1)
Interfund Reimbursements
883(1)
Overview of Accounting and Financial Reporting for the General Fund
883(1)
Comprehensive Illustration of Accounting for the General Fund
883(11)
Adoption of the Budget
883(3)
Property Tax Levy and Collection
886(1)
Other Revenue
887(1)
Expenditures
887(1)
Acquisition of Capital Asset
888(1)
Interfund Activities
889(1)
Adjusting Entries
890(1)
Closing Entries
890(2)
General Fund Financial Statement Information
892(2)
Summary of Key Concepts
894(1)
Key Terms
895(1)
Questions
895(1)
Cases
895(1)
Exercises
896(9)
Problems
905(18)
Governmental Entities: Special Funds and Government-wide Financial Statements
923(72)
Governmental Funds Worksheets
925(1)
Special Revenue Funds
925(1)
Capital Projects Funds
925(7)
Illustration of Transactions
929(2)
Financial Statement Information for the Capital Projects Fund
931(1)
Debt Service Funds
932(3)
Illustration of Transactions
932(3)
Financial Statement Information for the Debt Service Fund
935(1)
Permanent Funds
935(1)
Illustration of Transactions
935(1)
Governmental Funds Financial Statements
936(3)
Enterprise Funds
939(5)
Illustration of Transactions
940(2)
Financial Statements for the Proprietary Funds
942(2)
Internal Service Funds
944(3)
Illustration of Transactions
945(2)
Financial Statements for Internal Service Funds
947(1)
Trust Funds
947(3)
Illustration of Private-Purpose Trust Fund
949(1)
Agency Funds
950(1)
Illustration of Transactions in an Agency Fund
950(1)
The Government Reporting Model
950(10)
The Reporting Entity
950(2)
Government Financial Reports
952(1)
Government-wide Financial Statements
953(4)
Reconciliation Schedules
957(1)
Budgetary Comparison Schedule
958(1)
Other Required Supplementary Information (RSI)
958(1)
Certain Financial Statement Note Disclosures
959(1)
Other Financial Report Items
959(1)
Interim Reporting
960(1)
Auditing Governmental Entities
960(1)
Additional Considerations
960(2)
Special-Purpose Governmental Entities
960(1)
Accounting for Pension Trust Funds
961(1)
Summary of Key Concepts
962(1)
Key Terms
962(1)
Other Government Entities---Public School Systems and the Federal Government
962(3)
Questions
965(1)
Cases
966(1)
Exercises
966(10)
Problems
976(19)
Not-for-Profit Entities
995(78)
Financial Reporting for Private, Not-for-Profit Entities
995(4)
Important FASB Standards for Not-for-Profit Entities
997(2)
Colleges and Universities
999(3)
Special Conventions of Revenue and Expenditure Recognition
999(1)
Board-Designated Funds
1000(2)
Health Care Providers
1002(21)
Hospital Accounting
1004(2)
Financial Statements for a Not-for-Profit Hospital
1006(4)
Comprehensive Illustration of Hospital Accounting and Financial Reporting
1010(9)
Temporarily Restricted Funds
1019(3)
Summary of Hospital Accounting and Financial Reporting
1022(1)
Voluntary Health and Welfare Organizations
1023(11)
Accounting for a VHWC
1023(1)
Financial Statements for a VHWO
1024(8)
Summary of Accounting and Financial Reporting for VHWOs
1032(2)
Other Not-for-Profit Entities
1034(4)
Accounting for ONPOs
1034(1)
Financial Statements of ONPOs
1034(4)
Summary of Accounting and Financial Reporting for ONPOs
1038(1)
Summary of Key Concepts
1038(1)
Key Terms
1039(1)
Questions
1039(1)
Cases
1040(1)
Exercises
1041(11)
Problems
1052(21)
Corporations in Financial Difficulty
1073(55)
Courses of Action
1073(3)
Nonjudicial Actions
1074(1)
Judicial Actions
1075(1)
Creditor Accounting for Impaired Loans
1076(2)
Troubled Debt Restructuring
1078(9)
For the Debtor
1079(1)
For the Creditor
1080(1)
Illustration of Troubled Debt Restructurings
1080(6)
Other Considerations
1086(1)
Chapter 11 Reorganizations
1087(11)
Fresh Start Accounting
1088(2)
Plan of Reorganization
1090(1)
Illustration of a Reorganization
1090(8)
Chapter 7 Liquidations
1098(1)
Classes of Creditors
1099(3)
Secured Creditors
1099(1)
Creditors with Priority
1099(1)
General Unsecured Creditors
1099(2)
Statement of Affairs
1101(1)
Additional Considerations
1102(7)
Trustee Accounting and Reporting
1102(6)
Bankruptcy Provisions for Individuals
1108(1)
Summary of Key Concepts
1109(1)
Key Terms
1109(1)
Questions
1110(1)
Cases
1110(2)
Exercises
1112(6)
Problems
1118(10)
Index 1128

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