Accounting Textual content Cases

 Essay upon Accounting Text message Cases

Text and Cases

13th Edition

Robert N. Anthony

Ross G. Walker Professor Emeritus Graduate School of Business Supervision Harvard University

David N. Hawkins

Lovett-Learned Professor of Business Administration Graduate College of Business Administration Harvard University

Kenneth A. Vendor

Deloitte & Touche LLP Chair of Accountancy Leventhal School of Accounting School of Southern California

McGraw-Hill Irwin

Contents

PARTI

FINANCIAL ACCOUNTING 1 Phase 1 The type and Reason for Accounting two The Need for Info 2 Working Information several Financial Accounting Information four Management Accounting Information some Tax Accounting Information a few Definition of Accounting 6 The Profession of Accounting 6 Our Method to Accounting several Preconceptions about Accounting six Plan with the Book almost 8 The Financial Accounting Framework' Accounting as a Language being unfaithful Different Types 9 Nature of Principles 9 Criteria 10 Way to obtain Accounting Rules 11 Concepts Vs . Guidelines 12 Economical Statements 13 The Balance Sheet 14 The Income Declaration 16 " Package " of Financial Information 17 Monetary Statement Aims 17 Sarbanes-Oxley Act nineteen Income Tax Revealing 19 Summary 19 Complications 20 Cases 22 Circumstance 1—1: Ribbons an'Bows, Inc. 22 Circumstance 1-2: Ellie Fuller 3 Case 1-3: Baron Coburg 24 The total amount Sheet thirty-three An Overall Perspective 34 Bank account Categories thirty-five Assets thirty six Liabilities 38 Owners 'Equity 39 Ratios 42 Current Ratio forty two Balance Sheet Adjustments 42 Initial Capital Contribution 42 Bank Loan 43 Purchase of Merchandise 43 Sale of Goods 43 Finishing Comment forty-four Summary forty-four Problems 44 Cases forty seven Case 2-1: Maynard Company (A) 47 Case 2-2: Music Mart, Inc. forty eight Case 2 - 3: Lone Pine Cafe (A) 48

almost 8

Chapter several Basic Accounting Concepts: The Income Declaration 50 The Nature of Income 55 Basic Ideas 51 The Accounting Period Concept fifty-one The Conservatism Concept 54 The Recognition Concept 56 The Complementing Concept 57 Recognition of Expenses 58 Terminology 49 Criteria to get Expense Acknowledgement 58 Expenditures and Expenses 59 Returns 61 Brief summary of Expenditure Measurement sixty two Gains and Losses 63 The Uniformity Concept 63 The Materiality Concept 63 The Profits Statement sixty four Revenues 66 Cost of Product sales 66 Low Margin 67 Expenses 67 Net Income 67

Chapter a couple of Basic Accounting Concepts: The Balance Sheet dua puluh enam

Basic Ideas 26 The cash Measurement Strategy 27 The Entity Strategy 28 The Going-Concern Idea 28 The Cost Concept up to 29 The Dual-Aspect Concept thirty-two

Contents

xiii

Statement of Retained Profits 67 Relation between "balance sheet" and Salary Statement 68 Income Assertion Percentages sixty-eight Other Principles of Salary 68" - Accrual vs Cash-Basis Accounting 68 Income Tax Accounting 69 Economic Profits 70 Pro Forma Income 70 Overview 70 Challenges 71 Circumstances 73 Case 3-1: Maynard Company (B) 73 Circumstance 3-2: Single Pine Coffeehouse (B) seventy four Case 3-3: Dispensers of California, Incorporation. 74 Case 3-4: Pinetree Motel seventy five Case approximately for five: National Association ofAccountants seventy seven

Chapter five Revenue and Monetary Resources

108

Phase 4

Accounting Records and Systems 80

Recordkeeping Fundamentals 80 The Account seventy eight Permanent Accounts and Short-term Accounts seventy eight The Ledger 82 The Chart of Accounts 82 Debit and Credit 82 The Accounting Process 84 Transaction Research 85 Case: Campus Pizzeria, Inc. 85 Balancing Accounts 88 The Trial Equilibrium 89 The Adjusting and Closing Method 90 Modifying Entries 80 Closing Records 93 Affirmation Preparation 96 The Journal 96 Accounting Systems ninety-seven Internal Accounting Controls ninety-seven Computer-Based Accounting Systems 98 What a Computer-Based System Truly does 98 Quests 99 Difficulties with Computer Systems 99 Summary 95 Problems 95 Cases 102 Case four-in-one: PC Lager 102 Case 4-2: Save-Mart 104 Case 4-3: Copies Express 104 Case 4-4: Waltham Petrol and Lubricant Center, Inc. 106

Timing of Earnings Recognition 108 Basic Recognition Criteria 108 SEC Response 110 Delivery Method 112 Percentage-of-Completion Approach 113 Production Method 114 Installment Technique 114 Volume of Income...


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