Introduction to Accounting (Combined) A User Perspective

by Werner, Michael L.; Jones, Kumen H.

• ISBN13: 9780130327581
• ISBN10: 0130327581
• Edition: 2nd
• Format: Paperback
• Copyright: 2003-08-27
• Publisher: Prentice Hall

Summary

This introduction to accounting and its significant role in making sound business decisions teaches readers how to be wise users, not necessarily preparers of accounting informationa strong user-based approach that is endorsed and supported by the AECC.The authors present accounting information in a broader business context-emphasizing what accounting information is, why it is important, and how it is used to make strategic economic decisionscoverage of financial and management accounting included. Specific chapter topics discuss business in the United States, economic decision making, the balance sheet, income statement and statement of owners' equity, accumulating accounting data, challenging issues under accrual accounting, financial statement analysis, the future of management accounting, classifying costs, determining costs of products, business decisions using cost behavior, making decisions using relevant information. evaluating capital expenditures, the operating budget, standard costing, and evaluating performance.For individuals with a future, career and interest in accounting.

Table of Contents

Introduction to Business in the United States

Economic Decision Making

The Balance Sheet: Initial Financing-Investments by Owners

The Balance Sheet (Continued): Additional Financing-Borrowing from Others

Income Statement and Statement of Owners' Equity

Keeping Score: Bases of Economic Measurement

Accumulating Accounting Data

Challenging Issues Under Accrual Accounting: Long-Lived Depreciable Assets-A Closer Look

Challenging Issues Under Accrual Accounting: Merchandise Inventory and Cost of Goods Sold

The Balance Sheet and Income Statement: A Closer Look

Tools of the Trade Part III The Statement of Cash Flows: Bringing the Focus Back to Cash

Financial Statement Analysis

Management Accounting: Its Environment and Future

Classifying Costs

Determining Costs of Products

Cost Behavior

Business Decisions Using Cost Behavior

Making Decisions Using Relevant Information

The Capital Budget: Evaluating Capital ExpENDitures

The Operating Budget

Standard Costing

Evaluating Performance.

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