Intermediate Accounting: Study Guide

by Philip M. Reckers; Bart P. Hartman; James A. Knoblett

• ISBN13: 9780324023268
• ISBN10: 032402326X
• Edition: 3rd
• Format: Paperback
• Copyright: 2000-09-01
• Publisher: Dame Publishing

Summary

The Study Guide includes lecture outlines, extra problems, mastery problems, and study tips for additional study and review of chapter content. It is designed to assist in the comprehension of concepts and principles presented in the text.

Table of Contents

Background Core
The Conceptual Framework and Objectives of Financial Reporting	p. 1
Economic Environment and Financial Reporting	p. 2
Generally Accepted Accounting Principles (GAAP)	p. 3
Conceptual Framework	p. 8
Recognition and Measurement in Financial Statements	p. 14
Basic Elements of Financial Statements	p. 17
An Investment Decision Model	p. 18
Ethics in Accounting and Corporate America	p. 19
The Accounting Process	p. 37
The Accounting Equation	p. 38
The Accounting Model	p. 41
Steps in the Accounting Process	p. 44
Financial Research and Analysis	p. 60
Balance Sheet and Owners' Interests	p. 85
Financial Position--The Concept	p. 86
Balance Sheet--Formats and Classifications	p. 87
Types of Business Entities	p. 92
Corporate Form of Business	p. 94
Usefulness and Limitations of the Balance Sheet	p. 98
SAP--Overview of an ERP System	p. SAP 1-1
Profitability and Ownership Interests	p. 129
Conceptual Foundations of Accrual Accounting--Revenue Recognition	p. 131
The Concept of Recognition	p. 132
Recognition Criteria-Assets and Liabilities	p. 135
Recognition Criteria-Revenues	p. 136
Points of Revenue Recognition	p. 139
Complex Applications in the "Real World"	p. 153
Concepts of Income and Capital Maintenance	p. 156
Horizontal Financial Analysis	p. 158
Conceptual Foundations of Accrual Accounting--Allocations	p. 185
Expense Recognition	p. 186
Allocating Costs of Long-Lived Assets	p. 188
Allocating Costs of Long-Lived Intangible Assets	p. 200
Allocating Costs of Borrowed Funds	p. 205
Vertical Financial Statement Analysis	p. 210
The Income Statement and Measures of Performance	p. 235
Income Statement	p. 236
Special Reporting Items	p. 240
Earnings Per Share	p. 260
Financial Statement Analysis	p. 261
Statement of Cash Flows	p. 293
User Needs	p. 295
Cash Flow Statement Content and Format	p. 298
Deriving Cash Flow Information	p. 301
Indirect Method for Cash Flow Statement	p. 305
Comprehensive Illustration: Direct Method	p. 305
Comprehensive Illustration: Indirect Method	p. 315
Issues of Interfirm Comparability	p. 317
Cash Flow Categories and Elements	p. 320
Additional Reporting Requirements	p. 321
SAP--The General Ledger	p. SAP 2-1
Integrative Cases	p. 349
Liquidity and Financial Flexibility	p. 357
Cash and Receivables	p. 359
Composition of Cash	p. 360
Control of Cash	p. 361
Accounts Receivable	p. 362
Financing With Receivables	p. 369
Notes Receivable	p. 374
Financial Analysis	p. 382
Investments	p. 407
Recognition and Measurement	p. 408
Debt Security and Equity Security Investments of Less Than 20 Percent Ownership	p. 409
Unresolved Controversies	p. 424
Equity Security Investments of Greater Than 20 Percent Ownership	p. 424
Investments Providing Control	p. 433
Other Long-Term Investments	p. 434
Financial Analysis	p. 435
Derivative Financial Instruments	p. 438
Inventories	p. 473
Implications of Conceptual Framework	p. 574
The Nature of Inventory	p. 474
Quantity Measurement	p. 478
Inventory Valuation	p. 479
Estimating Inventory Values	p. 488
Inventory Errors	p. 501
Financial Analysis	p. 502
Current Liabilities	p. 531
Nature and Classification of Liabilities	p. 533
Measurement of Current Liabilities	p. 533
Contingent Liabilities	p. 533
Determinable Current Liabilities	p. 540
Financial Analysis	p. 548
SAP--Accounts Receivable and Accounts Payable	p. SAP 3-1
Integrative Cases	p. 575
Solvency and Operational Capacity	p. 579
Property, Plant, and Equipment	p. 581
Cost Basis of Productive Assets	p. 583
Monetary Exchanges	p. 584
Nonmonetary Asset Exchanges	p. 591
Assets Acquired by Other Means	p. 596
Cost Incurred After Acquisition	p. 597
Disposition of Plant Assets	p. 599
Financial Analysis	p. 600
Impairment of Long-Lived Assets	p. 604
Intangible Assets	p. 627
Accounting for Acquisitions of Intangibles	p. 629
Discussion and Evaluation	p. 648
Costs of Insurance	p. 650
Long-Term Liabilities	p. 673
Financial Leverage	p. 674
Bonds Payable	p. 678
Extinguishment of Debt	p. 687
Long-Term Notes Payable	p. 693
Troubled Debt Restructuring	p. 696
Cash Flows	p. 699
Serial Bonds	p. 700
Accounting for Leases	p. 721
Advantages and Disadvantages of Leasing	p. 722
Conceptual Considerations	p. 723
Accounting for Operating Leases	p. 726
Accounting for Capital Leases by the Lessee	p. 727
Accounting for Capital Leases by Lessor	p. 730
Residual Values	p. 733
Bargain Purchase Option	p. 736
Sale-Leasebacks	p. 740
Real Estate Leases	p. 742
Leveraged Leases	p. 743
Financial Analysis	p. 744
SAP--Asset Accounting	p. SAP 4-1
Integrative Cases	p. 771
Disclosure and Reporting	p. 843
Postemployment Benefits	p. 781
Postretirement Benefits	p. 784
Pension Plans	p. 784
Employer's Pension Accounting	p. 786
Pension-Related Entries	p. 790
Accounting for Unexpected Gains and Losses	p. 799
Required Disclosures SFAS No. 132	p. 806
Financial Analysis	p. 806
Other Postretirement Benefits	p. 809
Interpreting SFAS No. 87 and SFAS No. 106 Data	p. 812
Alternative Procedure for Amortizing Prior-Service Costs	p. 813
Alternative Procedure for Calculating a Market-Related Value for Plan Assets	p. 814
Accounting for Income Taxes	p. 831
Nature of Income Taxes	p. 832
Liability Approach	p. 834
Major Tax Accounting Issues	p. 849
Financial Reporting	p. 852
Income Taxes and Financial Analysis	p. 855
Equity Securities	p. 883
Stock Issuance	p. 884
Other Equity Sources and Adjustments	p. 890
Supplemental Disclosures	p. 901
Financial Analysis	p. 903
Retained Earnings and Distributions to Shareholders	p. 925
Retained Earnings	p. 927
Distributions to Owners	p. 929
Qualifications to Retained Earnings	p. 942
Financial Analysis	p. 945
The Gap in GAAP	p. 973
"Fuzzy" GAAP and Accounting Alternatives	p. 975
GAAP, Financial Reporting, and Economic Reality	p. 983
Financial Reporting: Disclosure and Economic Consequences	p. 984
The Political Nature of Standard Setting	p. 986
The Future: Internationalization of Accounting Standards	p. 988
SAP--Accounting Reports	p. SAP 5-1
Integrative Cases
Appendices
Time Value of Money	p. 1
The Time Value of Money and the Nature of Interest	p. 2
Single Sums	p. 3
Annuities	p. 5
Example Problems	p. 8
Earnings per Share for Complex Capital Structures	p. 1
Complex Capital Structures	p. 3
Financial Analysis and Earnings Per Share	p. 11
Motorola 1998 Annual Report	p. 1
Glossary	p. 1
Subject Index	p. 1
Company Index	p. 1
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