Sale!

Accounting Tools for Business Decision Makers 6th Edition Kimmel Weygandt Kieso EBOOK PDF Instant Download

$19.00

Category: Tags: , ,

Description

Accounting: Tools for Business Decision Makers, 6th Edition
Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso EBOOK PDF Instant Download

 

  • Table of Contents
  • Acknowledgments
  • 1 Introduction to Financial Statements
  • Knowing the Numbers
  • LO 1: Study the forms of business organization and the uses of accounting information.
  • Forms of Business Organization
  • Users and Uses of Financial Information
  • Ethics in Financial Reporting
  • LO 2: Explain the three principal types of business activity.
  • Financing Activities
  • Investing Activities
  • Operating Activities
  • LO 3: Describe the four financial statements and how they are prepared.
  • Income Statement
  • Retained Earnings Statement
  • Balance Sheet
  • Statement of Cash Flows
  • Interrelationships of Statements
  • Other Elements of an Annual Report
  • A Look at IFRS
  • 2 A Further Look at Financial Statements
  • Just Fooling Around?
  • LO 1: Identity the sections of a classified balance sheet.
  • Current Assets
  • Long-Term Investments
  • Property, Plant, and Equipment
  • Intangible Assets
  • Current Liabilities
  • Long-Term Liabilities
  • Stockholders’ Equity
  • LO 2: Use ratios to evaluate a company’s profitability, liquidity, and solvency.
  • Ratio Analysis
  • Using the Income Statement
  • Using a Classified Balance Sheet
  • Using the Statement of Cash Flows
  • LO 3: Discuss financial reporting concepts.
  • The Standard-Setting Environment
  • Qualities of Useful Information
  • Assumptions in Financial Reporting
  • Principles in Financial Reporting
  • Cost Constraint
  • A Look at IFRS
  • 3 The Accounting Information System
  • Accidents Happen
  • LO 1: Analyze the effect of business transactions on the basic accounting equation.
  • Accounting Transactions
  • Analyzing Transactions
  • Summary of Transactions
  • LO 2: Explain how accounts, debits, and credits are used to record business transactions.
  • Debits and Credits
  • Debit and Credit Procedures
  • Stockholders’ Equity Relationships
  • Summary of Debit/Credit Rules
  • LO 3: Indicate how a journal is used in the recording process.
  • The Recording Process
  • The Journal
  • LO 4: Explain how a ledger and posting help in the recording process.
  • The Ledger
  • Chart of Accounts
  • Posting
  • The Recording Process Illustrated
  • Summary Illustration of Journalizing and Posting
  • LO 5: Prepare a trial balance.
  • Limitations of a Trial Balance
  • A Look at IFRS
  • 4 Accrual Accounting Concepts
  • Keeping Track of Groupons
  • LO 1: Explain the accrual basis of accounting and the reasons for adjusting entries.
  • The Revenue Recognition Principle
  • The Expense Recognition Principle
  • Accrual versus Cash Basis of Accounting
  • The Need for Adjusting Entries
  • Types of Adjusting Entries
  • LO 2: Prepare adjusting entries for deferrals.
  • Prepaid Expenses
  • Unearned Revenues
  • LO 3: Prepare adjusting entries for accruals.
  • Accrued Revenues
  • Accrued Expenses
  • Summary of Basic Relationships
  • LO 4: Prepare an adjusted trial balance and closing entries.
  • Preparing the Adjusted Trial Balance
  • Preparing Financial Statements
  • Quality of Earnings
  • Closing the Books
  • Summary of the Accounting Cycle
  • LO *5: APPENDIX 4A: Describe the purpose and the basic form of a worksheet.
  • A Look at IFRS
  • 5 Merchandising Operations and the Multiple-Step Income Statement
  • Buy Now, Vote Later
  • LO 1: Describe merchandising operations and inventory systems.
  • Operating Cycles
  • Flow of Costs
  • LO 2: Record purchases under a perpetual inventory system.
  • Freight Costs
  • Purchase Returns and Allowances
  • Purchase Discounts
  • Summary of Purchasing Transactions
  • LO 3: Record sales under a perpetual inventory system.
  • Sales Returns and Allowances
  • Sales Discounts
  • LO 4: Prepare a multiple-step income statement and a comprehensive income statement.
  • Single-Step Income Statement
  • Multiple-Step Income Statement
  • Comprehensive Income Statement
  • LO 5: Determine cost of goods sold under a periodic inventory system.
  • LO 6: Compute and analyze gross profit rate and profit margin.
  • Gross Profit Rate
  • Profit Margin
  • LO *7: APPENDIX 5A: Record purchases and sales of inventory under a periodic inventory system.
  • Recording Merchandise Transactions
  • Recording Purchases of Merchandise
  • Freight Costs
  • Recording Sales of Merchandise
  • Comparison of Entries—Perpetual vs. Periodic
  • A Look at IFRS
  • 6 “Where Is That Spare Bulldozer Blade?”
  • LO 1: Discuss how to classify and determine inventory.
  • Classifying Inventory
  • Determining Inventory Quantities
  • LO 2: Apply inventory cost flow methods and discuss their financial effects.
  • Specific Identification
  • Cost Flow Assumptions
  • Financial Statement and Tax Effects of Cost Flow Methods
  • Using Inventory Cost Flow Methods Consistently
  • LO 3: Explain the statement presentation and analysis of inventory.
  • Presentation
  • Lower-of-Cost-or-Market
  • Analysis
  • Adjustments for LIFO Reserve
  • LO *4: APPENDIX 6A: Apply inventory cost flow methods to perpetual inventory records.
  • First-In, First-Out (FIFO)
  • Last-In, First-Out (LIFO)
  • Average-Cost
  • LO *5: APPENDIX 6B: Indicate the effects of inventory errors on the financial statements.
  • Income Statement Effects
  • Balance Sheet Effects
  • A Look at IFRS
  • 7 Fraud, Internal Control, and Cash
  • Minding the Money in Madison
  • LO 1: Define fraud and the principles of internal control.
  • Fraud
  • The Sarbanes-Oxley Act
  • Internal Control
  • Principles of Internal Control Activities
  • Limitations of Internal Control
  • LO 2: Apply internal control principles to cash.
  • Cash Receipts Controls
  • Cash Disbursements Controls
  • LO 3: Identify the control features of a bank account.
  • Electronic Funds Transfer (EFT) System
  • Bank Statements
  • Reconciling the Bank Account
  • LO 4: Explain the reporting of cash and the basic principles of cash management.
  • Reporting Cash
  • Managing and Monitoring Cash
  • Cash Budgeting
  • LO *5: APPENDIX 7A: Explain the operation of a petty cash fund.
  • Establishing the Petty Cash Fund
  • Making Payments from Petty Cash
  • Replenishing the Petty Cash Fund
  • A Look at IFRS
  • 8 Reporting and Analyzing Receivables
  • What’s Cooking?
  • LO 1: Explain how companies recognize accounts receivable.
  • Types of Receivables
  • Recognizing Accounts Receivable
  • LO 2: Describe how companies value accounts receivable and record their disposition.
  • Valuing Accounts Receivable
  • Disposing of Accounts Receivable
  • LO 3: Explain how companies recognize, value, and dispose of notes receivable.
  • Determining the Maturity Date
  • Computing Interest
  • Recognizing Notes Receivable
  • Valuing Notes Receivable
  • Disposing of Notes Receivable
  • LO 4: Describe the statement presentation of receivables and the principles of receivables managemen
  • Financial Statement Presentation of Receivables
  • Managing Receivables
  • Evaluating Liquidity of Receivables
  • Accelerating Cash Receipts
  • A Look at IFRS
  • 9 Reporting and Analyzing Long-Lived Assets
  • A Tale of Two Airlines
  • LO 1: Explain the accounting for plant asset expenditures.
  • Determining the Cost of Plant Assets
  • Expenditures During Useful Life
  • To Buy or Lease?
  • LO 2: Apply depreciation methods to plant assets.
  • Factors in Computing Depreciation
  • Depreciation Methods
  • Revising Periodic Depreciation
  • Impairments
  • LO 3: Explain how to account for the disposal of plant assets.
  • Sale of Plant Assets
  • Retirement of Plant Assets
  • LO 4: Identity the basic issues related to reporting intangible assets.
  • Accounting for Intangible Assets
  • Types of Intangible Assets
  • LO 5: Discuss how long-lived assets are reported and analyzed.
  • Presentation
  • Analysis
  • LO *6: APPENDIX 9A: Compute periodic depreciation using the declining-balance method and the units-o
  • Declining-Balance Method
  • Units-of-Activity Method
  • A Look at IFRS
  • 10 Reporting and Analyzing Liabilities
  • And Then There Were Two
  • LO 1: Explain how to account for current liabilities.
  • What Is a Current Liability?
  • Notes Payable
  • Sales Taxes Payable
  • Unearned Revenues
  • Current Maturities of Long-Term Debt
  • Payroll and Payroll Taxes Payable
  • LO 2: Describe the major characteristics of bonds.
  • Types of Bonds
  • Issuing Procedures
  • Determining the Market Price of Bonds
  • LO 3: Explain how to account for bond transactions.
  • Issuing Bonds at Face Value
  • Discount or Premium on Bonds
  • Issuing Bonds at a Discount
  • Issuing Bonds at a Premium
  • Redeeming Bonds at Maturity
  • Redeeming Bonds before Maturity
  • LO 4: Discuss how liabilities are reported and analyzed.
  • Presentation
  • Analysis
  • LO *5: APPENDIX 10A: Apply the straight-line method of amortizing bond discount and bond premium.
  • Amortizing Bond Discount
  • Amortizing Bond Premium
  • LO *6: APPENDIX 10B: Apply the effective-interest method of amortizing bond discount and bond premiu
  • Amortizing Bond Discount
  • Amortizing Bond Premium
  • LO *7: APPENDIX 10C: Describe the accounting for long-term notes payable.
  • A Look at IFRS
  • 11 Reporting and Analyzing Stockholders’ Equity
  • Oh Well, I Guess I’ll Get Rich
  • LO 1: Discuss the major characteristics of a corporation.
  • Characteristics of a Corporation
  • Forming a Corporation
  • Stockholder Rights
  • Stock Issue Considerations
  • Corporate Capital
  • LO 2: Explain how to account for the issuance of common and preferred stock, and the purchase of tre
  • Accounting for Common Stock
  • Accounting for Preferred Stock
  • Treasury Stock
  • LO 3: Explain how to account for cash dividends and describe the effect of stock dividends and stock
  • Cash Dividends
  • Dividend Preferences
  • Stock Dividends
  • Stock Splits
  • LO 4: Discuss how stockholders’ equity is reported and analyzed.
  • Retained Earnings
  • Retained Earnings Restrictions
  • Balance Sheet Presentation of Stockholders’ Equity
  • Analysis of Stockholders’ Equity
  • Debt versus Equity Decision
  • LO *5: APPENDIX 11A: Prepare entries for stock dividends.
  • A Look at IFRS
  • 12 Statement of Cash Flows
  • Got Cash?
  • LO 1: Discuss the usefulness and format of the statement of cash flows.
  • Usefulness of the Statement of Cash Flows
  • Classification of Cash Flows
  • Significant Noncash Activities
  • Format of the Statement of Cash Flows
  • LO 2: Prepare a statement of cash flows using the indirect method.
  • Indirect and Direct Methods
  • Indirect Method—Computer Services Company
  • Step 1: Operating Activities
  • Summary of Conversion to Net Cash Provided by Operating Activities–Indirect Method
  • Step 2: Investing and Financing Activities
  • Step 3: Net Change in Cash
  • LO 3: Use the statement of cash flows to evaluate a company.
  • The Corporate Life Cycle
  • Free Cash Flow
  • LO *4: APPENDIX 12A: Prepare a statement of cash flows using the direct method.
  • Step 1: Operating Activities
  • Step 2: Investing and Financing Activities
  • Step 3: Net Change in Cash
  • LO *5: APPENDIX 12B: Use the T-account approach to prepare a statement of cash flows.
  • A Look at IFRS
  • 13 Financial Analysis: The Big Picture
  • It Pays to Be Patient
  • LO 1: Apply the concept of sustainable income and quality of earnings.
  • Sustainable Income
  • Quality of Earnings
  • LO 2: Apply horizontal analysis and vertical analysis.
  • Horizontal Analysis
  • Vertical Analysis
  • LO 3: Analyze a company’s performance using ratio analysis.
  • Price-Earnings Ratio
  • Liquidity Ratios
  • Solvency Ratios
  • Profitability Ratios
  • LO *4: APPENDIX 13A: Evaluate a company comprehensively using ratio analysis.
  • Liquidity Ratios
  • Solvency Ratios
  • Profitability Ratios
  • A Look at IFRS
  • 14 Managerial Accounting
  • Just Add Water . . . and Paddle
  • LO 1: Identify the features of managerial accounting and the functions of management.
  • Comparing Managerial and Financial Accounting
  • Management Functions
  • Organizational Structure
  • LO 2: Describe the classes of manufacturing costs and the differences between product and period cos
  • Manufacturing Costs
  • Product Versus Period Costs
  • Illustration of Cost Concepts
  • LO 3: Demonstrate how to compute cost of goods manufactured and prepare financial statements for a m
  • Income Statement
  • Cost of Goods Manufactured
  • Cost of Goods Manufactured Schedule
  • Balance Sheet
  • LO 4: Discuss trends in managerial accounting.
  • Service Industries
  • Focus on the Value Chain
  • Balanced Scorecard
  • Business Ethics
  • Corporate Social Responsibility
  • 15 Job Order Costing
  • Profiting from the Silver Screen
  • LO 1: Describe cost systems and the flow of costs in a job order system.
  • Process Cost System
  • Job Order Cost System
  • Job Order Cost Flow
  • Accumulating Manufacturing Costs
  • LO 2: Use a job cost sheet to assign costs to work in process.
  • Raw Materials Costs
  • Factory Labor Costs
  • LO 3: Demonstrate how to determine and use the predetermined overhead rate.
  • LO 4: Prepare entries for manufacturing and service jobs completed and sold.
  • Assigning Costs to Finished Goods
  • Assigning Costs to Cost of Goods Sold
  • Summary of Job Order Cost Flows
  • Job Order Costing for Service Companies
  • Advantages and Disadvantages of Job Order Costing
  • LO 5: Distinguish between under- and overapplied manufacturing overhead.
  • Under- or Overapplied Manufacturing Overhead
  • 16 Process Costing
  • The Little Guy Who Could
  • LO 1: Discuss the uses of a process cost system and how it compares to a job order system.
  • Uses of Process Cost Systems
  • Process Costing for Service Companies
  • Similarities and Differences Between Job Order Cost and Process Cost Systems
  • LO 2: Explain the flow of costs in a process cost system and the journal entries to assign manufactu
  • Process Cost Flow
  • Assigning Manufacturing Costs—Journal Entries
  • LO 3: Compute equivalent units.
  • Weighted-Average Method
  • Refinements on the Weighted-Average Method
  • LO 4: Complete the four steps to prepare a production cost report.
  • Compute the Physical Unit Flow (Step 1)
  • Compute the Equivalent Units of Production (Step 2)
  • Compute Unit Production Costs (Step 3)
  • Prepare a Cost Reconciliation Schedule (Step 4)
  • Preparing the Production Cost Report
  • Costing Systems—Final Comments
  • LO *5: APPENDIX 16A: Compute equivalent units using the FIFO method.
  • Equivalent Units Under FIFO
  • Comprehensive Example
  • FIFO and Weighted-Average
  • 17 Activity-Based Costing
  • Precor Is on Your Side
  • LO 1: Discuss the difference between traditional costing and activity-based costing.
  • Traditional Costing Systems
  • Illustration of a Traditional Costing System
  • The Need for a New Approach
  • Activity-Based Costing
  • LO 2: Apply activity-based costing to a manufacturer.
  • Identify and Classify Activities and Assign Overhead to Cost Pools (Step 1)
  • Identify Cost Drivers (Step 2)
  • Compute Activity-Based Overhead Rates (Step 3)
  • Allocate Overhead Costs to Products (Step 4)
  • Comparing Unit Costs
  • LO 3: Explain the benefits and limitations of activity-based costing.
  • The Advantage of Multiple Cost Pools
  • The Advantage of Enhanced Cost Control
  • The Advantage of Better Management Decisions
  • Some Limitations and Knowing When to Use ABC
  • LO 4: Apply activity-based costing to service industries.
  • Traditional Costing Example
  • Activity-Based Costing Example
  • LO *5: APPENDIX 17A: Explain just-in-time (JIT) processing.
  • Objective of JIT Processing
  • Elements of JIT Processing
  • Benefits of JIT Processing
  • 18 Cost-Volume-Profit
  • Don’t Worry—Just Get Big
  • LO 1: Explain variable, fixed, and mixed costs and the relevant range.
  • Variable Costs
  • Fixed Costs
  • Relevant Range
  • Mixed Costs
  • LO 2: Apply the high-low method to determine the components of mixed costs.
  • High-Low Method
  • Importance of Identifying Variable and Fixed Costs
  • LO 3: Prepare a CVP income statement to determine contribution margin.
  • Basic Components
  • CVP Income Statement
  • LO 4: Compute the break-even point using three approaches.
  • Mathematical Equation
  • Contribution Margin Technique
  • Graphic Presentation
  • LO 5: Determine the sales required to earn target net income and determine margin of safety.
  • Target Net Income
  • Margin of Safety
  • 19 Cost-Volume-Profit Analysis: Additional Issues
  • Not Even a Flood Could Stop It
  • LO 1: Apply basic CVP concepts.
  • Basic Concepts
  • Basic Computations
  • CVP and Changes in the Business Environment
  • LO 2: Explain the term sales mix and its effects on break-even sales.
  • Break-Even Sales in Units
  • Break-Even Sales in Dollars
  • LO 3: Determine sales mix when a company has limited resources.
  • LO 4: Indicate how operating leverage affects profitability.
  • Effect on Contribution Margin Ratio
  • Effect on Break-Even Point
  • Effect on Margin of Safety Ratio
  • Operating Leverage
  • LO *5: APPENDIX 19A: Explain the differences between absorption costing and variable costing.
  • Example: Comparing Absorption Costing with Variable Costing
  • Net Income Effects
  • Decision-Making Concerns
  • Potential Advantages of Variable Costing
  • 20 Incremental Analysis
  • Keeping It Clean
  • LO 1: Describe management’s decision-making process and incremental analysis.
  • Incremental Analysis Approach
  • How Incremental Analysis Works
  • Qualitative Factors
  • Untitled
  • Untitled
  • Relationship of Incremental Analysis and Activity-Based Costing
  • Types of Incremental Analysis
  • LO 2: Analyze the relevant costs in accepting an order at a special price.
  • LO 3: Analyze the relevant costs in a make-or-buy decision.
  • Opportunity Cost
  • LO 4: Analyze the relevant costs in determining whether to sell or process materials further.
  • Single-Product Case
  • Multiple-Product Case
  • LO 5: Analyze the relevant costs to be considered in repairing, retaining, or replacing equipment.
  • LO 6: Analyze the relevant costs in deciding whether to eliminate an unprofitable segment or product
  • 21 Budgetary Planning
  • What’s in Your Cupcake?
  • LO 1: State the essentials of effective budgeting and the components of the master budget.
  • Budgeting and Accounting
  • The Benefits of Budgeting
  • Essentials of Effective Budgeting
  • The Master Budget
  • LO 2: Prepare budgets for sales, production, and direct materials.
  • Sales Budget
  • Production Budget
  • Direct Materials Budget
  • LO 3: Prepare budgets for direct labor, manufacturing overhead, and selling and administrative expen
  • Direct Labor Budget
  • Manufacturing Overhead Budget
  • Selling and Administrative Expense Budget
  • Budgeted Income Statement
  • LO 4: Prepare a cash budget and a budgeted balance sheet.
  • Cash Budget
  • Budgeted Balance Sheet
  • LO 5: Apply budgeting principles to nonmanufacturing companies.
  • Merchandisers
  • Service Companies
  • Not-for-Profit Organizations
  • 22 Budgetary Control and Responsibility Accounting
  • Pumpkin Madeleines and a Movie
  • LO 1: Describe budgetary control and static budget reports.
  • Budgetary Control
  • Static Budget Reports
  • LO 2: Prepare flexible budget reports.
  • Why Flexible Budgets?
  • Developing the Flexible Budget
  • Flexible Budget—A Case Study
  • Flexible Budget Reports
  • LO 3: Apply responsibility accounting to cost and profit centers.
  • Controllable Versus Noncontrollable Revenues and Costs
  • Principles of Performance Evaluation
  • Responsibility Reporting System
  • Types of Responsibility Centers
  • LO 4: Evaluate performance in investment centers.
  • Return on Investment (ROI)
  • Responsibility Report
  • Judgmental Factors in ROI
  • Improving ROI
  • LO *5: APPENDIX 22A: Explain the difference between ROI and residual income.
  • Residual Income Compared to ROI
  • Residual Income Weakness
  • 23 Standard Costs and Balanced Scorecard
  • 80,000 Different Caffeinated Combinations
  • LO 1: Describe standard costs.
  • Distinguishing Between Standards and Budgets
  • Setting Standard Costs
  • LO 2: Determine direct materials variances.
  • Analyzing and Reporting Variances
  • Direct Materials Variances
  • LO 3: Determine direct labor and total manufacturing overhead variances.
  • Direct Labor Variances
  • Manufacturing Overhead Variances
  • LO 4: Prepare variance reports and balanced scorecards.
  • Reporting Variances
  • Income Statement Presentation of Variances
  • Balanced Scorecard
  • LO *5: APPENDIX 23A: Identify the features of a standard cost accounting system.
  • Journal Entries
  • Ledger Accounts
  • LO *6: APPENDIX 23B: Compute overhead controllable and volume variances.
  • Overhead Controllable Variance
  • Overhead Volume Variance
  • 24 Planning for Capital Investments
  • Floating Hotels
  • LO 1: Describe capital budgeting inputs and apply the cash payback technique.
  • Cash Flow Information
  • Illustrative Data
  • Cash Payback
  • LO 2: Use the net present value method.
  • Equal Annual Cash Flows
  • Unequal Annual Cash Flows
  • Choosing a Discount Rate
  • Simplifying Assumptions
  • Comprehensive Example
  • LO 3: Identify capital budgeting challenges and refinements.
  • Intangible Benefits
  • Profitability Index for Mutually Exclusive Projects
  • Risk Analysis
  • Post-Audit of Investment Projects
  • LO 4: Use the internal rate of return method.
  • Comparing Discounted Cash Flow Methods
  • LO 5: Use the annual rate of return method.
  • A Specimen Financial Statements: Apple Inc.
  • B Specimen Financial Statements: Columbia Sportswear Company
  • C Specimen Financial Statements: VF Corporation
  • D Specimen Financial Statements: Amazon.com, Inc.
  • E Specimen Financial Statements:Wal-Mart Stores, Inc.
  • F Specimen Financial Statements: Louis Vuitton
  • G Time Value of Money
  • LO 1: Compute interest and future values
  • Nature of Interest
  • Future Value of a Single Amount
  • Future Value of an Annuity
  • LO 2: Compute present values.
  • Present Value Variables
  • Present Value of a Single Amount
  • Present Value of an Annuity
  • Time Periods and Discounting
  • Present Value of a Long-Term Note or Bond
  • LO 3: Use a financial calculator to solve time value of money problems.
  • Present Value of a Single Sum
  • Present Value of an Annuity
  • Useful Applications of the Financial Calculator
  • H Reporting and Analyzing Investments
  • LO 1: Explain how to account for debt investments
  • Why Corporations Invest
  • Accounting for Debt Investments
  • LO 2: Explain how to account for stock investments.
  • Holdings of Less than 20%
  • Holdings Between 20% and 50%
  • Holdings of More than 50%
  • LO 3: Discuss how debt and stock investments are reported in the financial statements
  • Categories of Securities
  • Balance Sheet Presentation
  • Presentation of Realized and Unrealized Gain or Loss
  • Statement of Cash Flows Presentation
  • *I Payroll Accounting
  • LO 1: Record the payroll for a pay period.
  • Determining the Payroll
  • Recording the Payroll
  • LO 2: Record employer payroll taxes.
  • FICA Taxes
  • Federal Unemployment Taxes
  • State Unemployment Taxes
  • Recording Employer Payroll Taxes
  • Filing and Remitting Payroll Taxes
  • LO 3: Discuss the objectives of internal control for payrol
  • *J Subsidiary Ledgers and Special Journals
  • LO 1: Describe the nature and purpose of asubsidiary ledger
  • Subsidiary Ledger Example
  • Advantages of Subsidiary Ledgers
  • LO 2: Record transactions in special journals.
  • Sales Journal
  • Cash Receipts Journal
  • Purchases Journal
  • Cash Payments Journal
  • Effects of Special Journals on the General Journal
  • Cyber Security: A Final Comment
  • K Accounting for Partnerships
  • LO 1: Discuss and account for the formation of a partnerships
  • Characteristics of Partnerships
  • Organizations with Partnerships
  • Advantages and Disadvantages of Partnerships
  • The Partnership Agreement
  • Accounting for a Partnership Formation
  • LO 2: Explain how to account for net income or net loss of a partnership
  • Dividing Net Income or Net Loss
  • Partnership Financial Statements
  • LO 3: Explain how to account for the liquidation of a partnerships
  • No Capital Deficiency
  • Capital Deficiency
  • LO 4: Prepare Journal entries when a partner is either admitted or withdraws
  • Admission of a Partner
  • Withdrawal of a Partner
  • *L Accounting for Sole Proprietorships
  • LO 1: Identify the differences in equity accounts between a corporation and a sole proprietorship.
  • LO 2: Understand what accounts increase and decrease owner’s equity.
  • Owner’s Equity in a Sole Proprietorship
  • Recording Transactions of a Proprietorship
  • LO 3: Describe the differences between a retained earnings statement and an owner’s equity stateme
  • LO 4: Explain the process of closing the books for a sole proprietorship
  • Preparing a Post-Closing Trail Balance for a Proprietorship
  • M Pricing
  • LO 1: Compute a target cost when the market determines a product price.
  • Target Costing
  • LO 2: Compute a target selling price using cost-plus pricing.
  • Cost-Plus Pricing
  • Variable-Cost Pricing
  • LO 3: Use time-and-material pricing to determine the cost of services provided.
  • LO 4: Determine a transfer price using the negotiated, cost-based, and market-based approaches
  • Negotiated Transfer Prices
  • Cost-Based Transfer Prices
  • Market-Based Transfer Prices
  • Effect of Outsourcing on Transfer Pricing
  • Transfers Between Divisions in Different Countries
  • LO 5: Determine prices using absorption-cost pricing and variable-cost pricing.
  • Absorption-Cost Pricing
  • Variable-Cost Pricing
  • Company Index
  • Subject Index