Financial Accounting: Tools for Business Decision Making 7e by Paul D. Kimmel EBOOK PDF Instant Download
Table of Contents
About the Authors
Active Teaching And Learning Supplementary Material
1 The Purpose and Use of Financial Statements
LO 1: Identify the uses and users of accounting information.
LO 2: Describe the primary forms of business organization.
LO 3: Explain the three main types of business activity.
LO 4: Describe the purpose and content of each of the financial statements.
2 A Further Look at Financial Statements
LO 1: Identify the sections of a classified statement of financial position.
LO 2: Identify and calculate ratios for analyzing a company’s liquidity, solvency, and profitability.
LO 3: Describe the framework for the preparation and presentation of financial statements.
3 The Accounting Information System
LO 1: Analyze the effect of transactions on the accounting equation.
LO 2: Explain how accounts, debits, and credits are used to record transactions.
LO 3: Journalize transactions in the general journal.
LO 4: Post transactions to the general ledger.
LO 5: Prepare a trial balance.
4 Accrual Accounting Concepts
LO 1: Explain the accrual basis of accounting and the reasons for adjusting entries.
LO 2: Prepare adjusting entries for prepayments.
LO 3: Prepare adjusting entries for accruals.
LO 4: Prepare an adjusted trial balance and financial statements.
LO 5: Prepare closing entries and a post-closing trial balance.
5 Merchandising Operations
LO 1: Identify the differences between service and merchandising companies.
LO 2: Prepare entries for purchases under a perpetual inventory system.
LO 3: Prepare entries for sales under a perpetual inventory system.
LO 4: Prepare a single-step and a multiple-step income statement.
LO 5: Calculate the gross profit margin and profit margin.
LO 6: Appendix 5A: Account for and report inventory in a periodic inventory system.
6 Reporting and Analyzing Inventory
LO 1: Describe the steps in determining inventory quantities.
LO 2: Apply the cost formulas using specific identification, FIFO, and average cost under a perpetual inventory system.
LO 3: Explain the effects on the financial statements of choosing each of the inventory cost formulas.
LO 4: Identify the effects of inventory errors on the financial statements.
LO 5: Demonstrate the presentation and analysis of inventory.
LO 6: Appendix 6A: Apply the FIFO and average cost formulas under a periodic inventory system.
7 Internal Control and Cash
LO 1: Explain the components of an internal control system, including its control activities and limitations.
LO 2: Apply the key control activities to cash receipts and payments.
LO 3: Prepare a bank reconciliation.
LO 4: Explain the reporting and management of cash
8 Reporting and Analyzing Receivables
LO 1: Identify the types of receivables and record accounts receivable transactions.
LO 2: Account for bad debts.
LO 3: Account for notes receivable.
LO 4: Explain the statement presentation of receivables.
LO 5: Apply the principles of sound accounts receivable management.
9 Reporting and Analyzing Long-Lived Assets
LO 1: Determine the cost of property, plant, and equipment.
LO 2: Explain and calculate depreciation.
LO 3: Account for the derecognition of property, plant, and equipment.
LO 4: Identify the basic accounting issues for intangible assets and goodwill.
LO 5: Illustrate how long-lived assets are reported in the financial statements.
LO 6: Describe the methods for evaluating the use of assets.
10 Reporting and Analyzing Liabilities
LO 1: Account for current liabilities.
LO 2: Account for instalment notes payable.
LO 3: Identify the requirements for the financial statement presentation and analysis of liabilities.
LO 4: Appendix 10A: Account for bonds payable.
11 Reporting and Analyzing Shareholders’ Equity
LO 1: Identify and discuss the major characteristics of a corporation.
LO 2: Record share transactions.
LO 3: Prepare the entries for cash dividends, stock dividends, and stock splits, and understand their financial impact.
LO 4: Indicate how shareholders’ equity is presented in the financial statements.
LO 5: Evaluate dividend and earnings performance.
12 Reporting and Analyzing Investments
LO 1: Identify reasons to invest, and classify investments.
LO 2: Account for non-strategic investments.
LO 3: Account for strategic investments.
LO 4: Explain how investments are reported in the financial statements.
LO 5: Appendix 12A: Compare the accounting for a bond investment and a bond payable.
13 Statement of Cash Flows
LO 1: Describe the content and format of the statement of cash flows.
LO 2: Prepare the operating activities section of a statement of cash flows using the indirect method.
LO 3: Prepare the investing and financing activities sections and complete the statement of cash flows.
LO 4: Use the statement of cash flows to evaluate a company.
LO 5: Appendix 13A: Prepare the operating activities section of a statement of cash flows using the direct method.
14 Performance Measurement
LO 1: Explain and apply comparative analysis.
LO 2: Calculate and interpret ratios that are used to analyze liquidity.
LO 3: Calculate and interpret ratios that are used to analyze solvency.
LO 4: Calculate and interpret ratios that are used to analyze profitability.
LO 5: Understand the limitations of financial analysis.
Appendix A Specimen Financial Statements: The North West Company Inc.
Appendix B Specimen Financial Statements: Sobeys Inc.