Accounting principles:
Gespeichert in:
| Beteiligte Personen: | , , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
New York u.a.
McGraw-Hill
1993
|
| Ausgabe: | 4. ed. |
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006674546&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XXX, 1314, 12 S. Ill., graph. Darst. |
| ISBN: | 0071128239 0070591830 |
Internformat
MARC
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| 100 | 1 | |a Smith, Jack L. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Accounting principles |c Jack L. Smith ; Robert M. Keith ; William L. Stephens |
| 250 | |a 4. ed. | ||
| 264 | 1 | |a New York u.a. |b McGraw-Hill |c 1993 | |
| 300 | |a XXX, 1314, 12 S. |b Ill., graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 7 | |a Accounting |2 gtt | |
| 650 | 4 | |a Accounting | |
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| 700 | 1 | |a Keith, Robert M. |e Verfasser |4 aut | |
| 700 | 1 | |a Stephens, William L. |e Verfasser |4 aut | |
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| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-006674546 | |
Datensatz im Suchindex
| _version_ | 1819286669006733312 |
|---|---|
| adam_text | Contents in Brief
Preface xxiii
Part One THE ENVIRONMENT AND STRUCTURE OF ACCOUNTING 1
INTRODUCTION The Accounting Environment 2
CHAPTER 1 Basic Concepts and the Accounting Model 24
Part Two THE ACCOUNTING INFORMATION SYSTEM 61
CHAPTER 2 Analyzing and Recording Business Transactions 62
CHAPTER 3 The Adjusting Process 112
CHAPTER 4 Preparing Worksheets, Closing Entries, and Reversing Entries 162
CHAPTER 5 Accounting for Merchandise 218
CHAPTER 6 Internal Control and Accounting Systems Design 262
Part Three ACCOUNTING FOR ASSETS AND CURRENT LIABILITIES 307
CHAPTER 7 Cash 308
CHAPTER 8 Receivables 350
CHAPTER 9 Merchandise Inventory 390
CHAPTER 10 Property, Plant, and Equipment, and Intangible Assets 440
CHAPTER 11 Payroll and Other Current Liabilities 490
CHAPTER 12 Generally Accepted Accounting Principles and International Accounting 528
Part Four ACCOUNTING FOR PARTNERSHIPS AND CORPORATIONS 565
CHAPTER 13 Partnerships 566
CHAPTER 14 Corporations: Formation and Operations 618
CHAPTER 15 Corporations: Retained Earnings and Corporate Income 662
CHAPTER 16 Corporations: Long Term Liabilities 712
CHAPTER 17 Corporations: Investments and Consolidations 750
Part Five USING FINANCIAL STATEMENTS 795
CHAPTER 18 The Statement of Cash Flows 796
CHAPTER 19 Financial Statement Analysis 869
FINANCIAL STATEMENTS: PepsiCo, Inc. 915
Part Six MANAGEMENT ACCOUNTING: ITS STRUCTURE
AND ENVIRONMENT 933
CHAPTER 20 Introduction to Management Accounting and Cost Accounting Systems 934
CHAPTER 21 Job Order Costing 976
CHAPTER 22 Process Costing 1018
CHAPTER 23 The Contribution Approach to Cost Volume Prof it Analysis 1064
CHAPTER 24 The Master Budget 1112
CHAPTER 25 Controlling Costs with Flexible Budgets, Standard Costs, and Variances 1158
CHAPTER 26 Evaluating the Performance of Cost Centers, Profit Centers, and Investment
Centers 1208
CHAPTER 27 Relevant Information for Planning Short Run and Long Run Decisions 1246
Appendix A: Income Taxes 1295
Appendix B: The Periodic Method of Accounting for Manufacturing Costs 1302
Index 1 1
Conteni
Preface xxiii
THE ENVIRONMENT AND
STRUCTURE OF ACCOUNTING 1
INTRODUCTION The Accounting Environment 2
Learning Objectives 3
Chapter Outline 3
Relying on Financial Reports 4
Users of Accounting Information 5
Business Entities and User Groups 5
Types of Financial Reports 6
Preparers of Accounting Information 7
Management 7
Certified Public Accountants 7
Accounting Activities and Careers 8
Private Accounting Careers in Business 8
Accounting Careers in Not for Profit Entities 11
Careers in Public Accounting 11
Types of Business Entities 12
Proprietorship 12
Partnership 13
Corporation 13
Generally Accepted Accounting Principles 14
Why Users Need GAAP 14
Major Developers of GAAP 15
Business Ethics 17
Summary 18
Key Terms 19
Review Questions 21
Questions for Further Thought 21
Objective Assignment 21
Ethics Case 23
Objective Assignment Answers 23
ts
CHAPTER 1 Basic Concepts and the
Accounting Model 24
Learning Objectives 25
Chapter Outline 25
The Principal Financial Statements 26
The Income Statement 26
The Statement of Owner s Equity 28
The Balance Sheet 28
The Statement of Cash Flows 30
Five Basic Generally Accepted Accounting
Principles . 31
The Cost Principle 31
The Objectivity Principle 32
The Business Entity Concept 32
The Going Concern Concept 32
The Stable Dollar Concept 33
The Basic Accounting Model 33
Effects of Financial Transactions
on the Accounting Model 35
Preparing the Financial Statements
from the Transaction Worksheet 41
The Income Statement 42
The Statement of Owner s Equity 43
The Balance Sheet 43
Demonstration Problem 44
Chapter Summary 45
Key Terms 46
Review Questions 48
Questions for Further Thought 48
Objective Assignment 50
Exercises 52
Problems: Set A 55
Problems: Set B 55
Decision Problem 58
Ethics Case 59
Objective Assignment Answers 60
Xii CONTENTS
THE ACCOUNTING
INFORMATION SYSTEM 61
CHAPTER 2 Analyzing and Recording
Business Transactions 62
Learning Objectives 63
Chapter Outline 63
The Account 64
The General Ledger 65
How Accounts Are Classified in the General Ledger 65
The Chart of Accounts 66
Debit and Credit 67
Revenues and Expenses 70
Normal Balances 71
Recording Transactions: An Illustration 72
Standard Ledger Account Format 78
The Journal 78
Journalizing 79
Posting 80
The Trial Balance 82
Errors 84
Common Types of Errors 84
Finding Errors 85
Some Minor Procedural Points 86
Review of the Steps in
the Accounting Process 86
Demonstration Problem 87
Chapter Summary 91
Key Terms 92
Review Questions 93
Questions for Further Thought 94
Objective Assignment 94
Exercises 96
Problems: Set A 99
Problems: Set B 105
Decision Problem 110
Ethics Case 110
Objective Assignment Answers 111
CHAPTER 3 The Adjusting Process 112
Learning Objectives 113
Chapter Outline 113
Cash versus Accrual Accounting 116
Types of Adjusting Entries 118
Deferrals 118
Accruals 123
The Adjusted Trial Balance 127
The Accounting Process Reviewed 129
The Form and Content of Classified
Financial Statements 130
Classifying the Balance Sheet 131
Classifying the Income Statement 134
Demonstration Problem 136
Chapter Summary 141
Key Terms 143
Review Questions 144
Questions for Further Thought 145
Objective Assignment 145
Exercises 146
Problems: Set A 147
Problems: Set B 153
Comprehensive Problems 157
Decision Problem 158
Ethics Case 160
Objective Assignment Answers 160
CHAPTER 4 Preparing Worksheets, Closing
Entries, and Reversing Entries 162
Learning Objectives 163
Chapter Outline 163
The Worksheet 164
Unadjusted Trial Balance Columns 165
Adjustments Columns 166
Adjusted Trial Balance Columns 168
Income Statement and Balance Sheet Columns 169
Preparing the Financial Statements 172
Interim Financial Statements 172
The Closing Process 175
Closing the Expense Accounts 177
Closing the Revenue Accounts 178
Closing the Income Summary Account 179
Closing the Withdrawals Account 179
Journalizing the Adjusting and Closing Entries 180
The Post Closing Trial Balance 182
Reversing Entries 184
The Accounting Process Reviewed 188
Demonstration Problem 190
Chapter Summary 193
APPENDIX: The Effect of Accounting
Policy on Adjusting Entries 193
Recording a Deferral as an Asset or as an Expense 194
Recording a Deferral as a liability or as a Revenue 195
Reversal of Adjusting Entries: Deferrals 196
Reversal of Adjusting Entries: Accruals 198
Key Terms 198
Review Questions 199
Questions for Further Thought 200
Objective Assignment 200
Exercises 202
Problems: Set A 206
Problems: Set B 210
Comprehensive Problems 213
Decision Problem 216
Ethics Case 217
Objective Assignment Answers 217
CHAPTER 5 Accounting for Merchandise 218
Learning Objectives 219
Chapter Outline 220
The Income Statement of a Merchandising
Concern 221
The Operating Expenses Section 221
The Sales Section 222
The Cost of Goods Sold Section 225
Gross Profit 232
Periodic Procedures of a Merchandising
Concern 232
The Closing Entry Approach 232
The Adjusting Entry Approach 236
Demonstration Problem 239
Chapter Summary 242
Key Terms 243
Review Questions 244
Questions for Further Thought 244
Objective Assignment 245
Exercises 246
Problems: Set A 249
Problems: Set B 253
Comprehensive Problems 257
Decision Problem 260
Ethics Case 261
Objective Assignment Answers 261
CHAPTER 6 Internal Control and Accounting
Systems Design 262
Learning Objectives 263
Chapter Outline 263
Objectives of Internal Control
and Accounting Systems Design 264
System Installation 264
System Analysis 265
System Design 265
System Implementation 265
Internal Control 265
Administrative Controls 265
Accounting Controls 265
Special Journals 268
Four Major Groups of Transactions 269
The Sales Journal 270
The Cash Receipts Journal 273
The Purchases Journal 277
The Cash Payments Journal 278
The General Journal 280
CONTENTS xiii
Proving the Control Accounts 281
Manual versus Electronic Accounting
Systems 284
Demonstration Problem 284
Chapter Summary 286
Key Terms 287
Review Questions 288
Questions for Further Thought 288
Objective Assignment 289
Exercises 290
Problems: Set A 293
Problems: Set B 297
Comprehensive Problems 301
Decision Problem 305
Ethics Case 305
Objective Assignment Answers 306
ACCOUNTING FOR ASSETS
AND CURRENT LIABILITIES 307
CHAPTER 7 Cash 308
Learning Objectives 309
Chapter Outline 309
The Nature of Cash 310
Internal Control over Cash 310
Control over Cash Receipts 310
Control over Cash Payments 312
Bank Reconciliation 312
Recording Unrecorded Transactions and Correcting
Errors 315
Petty Cash 317
Setting Up a Petty Cash Fund 317
Replenishing the Petty Cash Fund 318
Cash Short and Over 319
Cash Discounts 320
The Gross Method 320
The Net Method 320
The Voucher System 322
Steps in Documenting the Acquisition of Goods
and Services 322
The Voucher Register 328
The Check Register 330
Demonstration Problem 331
Chapter Summary 332
Key Terms 333
Review Questions 335
Questions for Further Thought 335
Objective Assignment 336
Exercises 337
Xiv CONTENTS
Problems: Set A 339
Problems: Set B 344
Decision Problem 349
Ethics Case 349
Objective Assignment Answers 349
CHAPTER 8 Receivables 350
Learning Objectives 351
Chapter Outline 351
Accounts Receivable 352
Methods of Accounting for Uncollectible
Accounts Receivable 352
The Direct Write Off Method 353
Estimation Methods 354
Notes Receivable 363
Notes Receivable versus Accounts Receivable 364
Determining the Due Date of Notes 365
Determining Interest on Notes 365
Recording Notes and Interest 366
Dishonored Notes 367
Discounting Notes Receivable 368
Receivables from Officers and Owners 370
External Credit Card Sales 370
Demonstration Problem 372
Chapter Summary 373
Key Terms 374
Review Questions 375
Questions for Further Thought 376
Objective Assignment 376
Exercises 378
Problems: Set A 380
Problems: Set B 384
Decision Problem 388
Ethics Case 388
Objective Assignment Answers 389
CHAPTER 9 Merchandise Inventory 390
Learning Objectives 391
Chapter Outline 391
Determining the Cost of Merchandise
Purchased 392
Determining Physical Units in Ending
Inventory 394
The Physical Count 394
Goods in Transit 394
Goods on Consignment 395
Periodic Cost Methods of Determining
Ending Inventory 396
The First In, First Out (FIFO) Method 396
The Last In, First Out (LIFO) Method 400
The Weighted Average Method 401
The Specific Identification Method 402
Advantages and Disadvantages of the Four Inventory Cost
Methods 403
Consistency of Inventory Method 405
Valuing Inventory at Lower of Cost or
Market 406
Methods of Estimating Ending Inventory 408
The Gross Profit Method 408
The Retail Inventory Method 409
Inventory Errors 410
The Perpetual Inventory System 412
Recording Inventory Acquisitions and Sales 412
Perpetual FIFO 415
Perpetual LIFO 416
Perpetual Weighted Average 416
Computerized Perpetual Inventory Records 417
Current Assets on the Balance Sheet:
A Review 417
Demonstration Problem 418
Chapter Summary 419
Key Terms 420
Review Questions 421
Questions for Further Thought 422
Objective Assignment 422
Exercises 424
Problems: Set A 427
Problems: Set B 433
Decision Problem 438
Ethics Case 439
Objective Assignment Answers 439
CHAPTER 10 .
Property, Plant, and Equipment,
and Intangible Assets 440
Learning Objectives 441
Chapter Outline 441
Property, Plant, and Equipment Cost
Determination 442
Acquisition Cost 442
Lump Sum Acquisitions 444
Capital Expenditures and Revenue Expenditures 445
Depreciation of Plant and Equipment 446
Causes of Depreciation 446
Methods of Calculating Depreciation 447
Disclosure of Depreciation on the Balance Sheet 456
Changes in Depreciation Estimates 456
Depreciation Does Not Affect Cash 457
Depreciation Theory and Income Tax Laws 457
Low Cost Assets Not Depreciated 458
Subsidiary Ledger for Property, Plant,
and Equipment Assets 458
Disposal of Property, Plant,
and Equipment Assets 459
Write Off of Assets 460
Sale of Assets 460
Exchange of Dissimilar Assets 461
Exchange of Similar Assets 462
Exchanges and Income Taxes 464
Natural Resources and Depletion 464
Intangible Assets 466
Cost of Intangible Assets 466
Amortization of Intangibles 469
Demonstration Problem 470
Chapter Summary 471
Key Terms 472
Review Questions 474
Questions for Further Thought 474
Objective Assignment 475
Exercises 477
Problems: Set A 479
Problems: Set B 483
Decision Problem 487
Ethics Case 488
Objective Assignment Answers 489
CHAPTER 11 Payroll and Other Current
Liabilities 490
Learning Objectives 491
Chapter Outline 491
Payroll Accounting 492
Overview of the Payroll System 492
Some Important Distinctions 492
Computing Gross Pay 495
Deductions from Gross Pay 496
Payment of Taxes Withheld 499
Employer Payroll Taxes 499
The Employee Earnings Record 501
The Payroll Register 502
The Payroll Bank Account 504
Other Current liabilities 504
Notes Payable 504
Product Warranties 507
Demonstration Problem 509
Chapter Summary 510
Key Terms 511
Review Questions 512
Questions for Further Thought 513
Objective Assignment 513
Exercises 515
Problems: Set A 517
Problems: Set B 522
Decision Problem 526
Ethics Case 527
Objective Assignment Answers 527
CHAPTER 12 Generally Accepted Accounting
Principles and International
Accounting 528
Learning Objectives 529
CONTENTS XV
Chapter Outline 529
The Need for GAAP 530
Authoritative Support for GAAP 530
Objectives of Financial Statements 531
Qualitative Characteristics of Accounting
Information 532
The Basic Assumptions of GAAP 534
The Business Entity Concept 534
The Accounting Period Concept 535
The Going Concern Concept 536
The Stable Dollar Concept 536
The Basic Principles of GAAP 537
The Cost Principle 537
The Matching Principle 538
The Revenue Recognition Principle 538
The Expense Recognition Principle 540
The Full Disclosure Principle 540
The Consistency Principle 541
The Basic Modifiers of GAAP 541
Materiality 541
Conservatism 542
Industry Practices 542
International Accounting 542
Foreign Currency Transactions 543
Unrealized Exchange Gains and Losses 546
Chapter Summary 549
Key Terms 551
Review Questions 552
Questions for Further Thought 553
Objective Assignment 553
Exercises 555
Problems: Set A 557
Problems: Set B 560
Ethics Case 563
Objective Assignment Answers 563
ACCOUNTING FOR
PARTNERSHIPS AND
CORPORATIONS 565
CHAPTER 13 Partnerships 566
Learning Objectives 567
Chapter Outline 567
Partnership Characteristics 568
Ease of Formation 568
Voluntary Association 568
Articles of Partnership 569
Mutual Agency 569
Unlimited Liability 569
Limited life 570
XVi CONTENTS
Co Ownership of Property 571
Income Participation 571
Advantages and Disadvantages of the
Partnership Form 571
Advantages 571
Disadvantages 572
Partnership Accounting 573
Partnership Formation 573
Partnership Income Division 575
Partnership Financial Statements 578
Partnership Dissolution 580
Partnership liquidation 587
Demonstration Problem 593
Chapter Summary 595
Key Terms 596
Review Questions 597
Questions for Further Thought 598
Objective Assignment 598
Exercises 601
Problems: Set A 605
Problems: Set B 610
Decision Problem 615
Ethics Case 616
Objective Assignment Answers 617
CHAPTER 14 Corporations: Formation
and Operations 618
Learning Objectives 619
Chapter Outline 619
The Corporation Described 620
Articles of Incorporation 620
Advantages of Corporations 621
Disadvantages of Corporations 622
Corporate Organization Structure 623
Corporations versus Proprietorships and Partnerships 624
Corporate Owners Equity: An Overview 626
Paid in Capital: Capital Stock 626
Earned Capital: Retained Earnings 627
Owners Equity versus Stockholders Equity 627
Organizing a Corporation and Issuing
Common Stock 628
Par versus No Par Stock 628
Issuing Stock for Cash 629
Issuing Stock by Subscription 629
Issuing Stock in Exchange for Noncash Consideration 630
Treasury Stock 632
Purchase of Treasury Stock 632
Sale of Treasury Stock above Cost 632
Sale of Treasury Stock below Cost 633
Preferred Stock 634
Characteristics of Preferred Stock 635
Accounting for Preferred Stock 637
Donated Capital 638
Stockholders Equity on the Balance Sheet 639
Stock Value: A Review 639
Par Value and Stated Value 639
Market Value 641
Equity per Share 641
liquidation Value 642
Demonstration Problem 642
Chapter Summary 644
Key Terms 645
Review Questions 646
Questions for Further Thought 647
Objective Assignment 647
Exercises 649
Problems: Set A 652
Problems: Set B 652
Decision Problem 659
Ethics Case 660
Objective Assignment Answers 661
CHAPTER 15 Corporations: Retained Earnings
and Corporate Income 662
Learning Objectives 663
Chapter Outline 663
Retained Earnings 664
Retained Earnings: Appropriated and Unappropriated 664
Prior Period Adjustments 666
Retained Earnings: A Recap 667
Statement of Retained Earnings 668
Dividends 668
Cash Dividends 669
Property Dividends 670
Stock Dividends 671
liquidating Dividends 675
Dividends and Treasury Stock 675
Stock Splits 675
Recording Dividends on Preferred Stock 677
Stockholders Equity—A Comprehensive
Illustration 678
Accounting for Corporate Income Taxes 678
Estimating and Paying Income Taxes 678
Permanent Differences 680
Temporary Differences 680
Income Taxes on the Corporate Income Statement 682
Unusual Income Statement Items 682
Discontinued Operations 682
Extraordinary Items 683
Changes in Accounting Principles 684
Earnings per Share 685
Historical Earnings per Share 685
Primary and Fully Diluted Earnings per Share 687
The Corporate Income Statement 689
Demonstration Problem 691
Chapter Summary 693
Key Terms 694
Review Questions 695
Questions for Further Thought 696
Objective Assignment 696
Exercises 698
Problems: Set A 700
Problems: Set B 705
Decision Problem 710
Ethics Case 711
Objective Assignment Answers 711
CHAPTER 16 Corporations: Long Term
Liabilities 712
Learning Objectives 713
Chapter Outline 713
Selecting a Method of Long Term Financing 714
Bonds Payable 715
Bonds Issued at Face Value 716
Bonds Sold between Interest Payment Dates 717
Bonds Issued at a Discount 719
Bonds Issued at a Premium 721
The Present Value of Long Term liabilities 724
The Effective Interest Method of Amortizing Bond Discounts
and Premiums 728
Financial Statement Disclosure of Bonds Payable 733
Contingent Liabilities 733
Long Term Leases 734
Demonstration Problem 737
Chapter Summary 738
Key Terms 739
Review Questions 740
Questions for Further Thought 741
Objective Assignment 741
Exercises 743
Problems: Set A 744
Problems: Set B 746
Decision Problem 749
Ethics Case 749
Objective Assignment Answers 749
CHAPTER 17 Corporations: Investment
and Consolidations 750
Learning Objectives 751
Chapter Outline 751
Investments hi Bonds 752
Temporary Investments in Bonds 752
Long Term Investments in Bonds 753
Investments hi Stock 762
Reasons for Investing in Stock 762
Investments in Stock—Temporary vs. Long Term 762
Accounting for Investments in Stock—Cost Method 762
Accounting for Investments in Stock—Equity Method 766
Consolidated Financial Statements 768
CONTENTS XVii
The Parent and Subsidiary Relationship 768
Consolidation on the Date of Acquisition—
100% Ownership 769
Consolidation on the Date of Acquisition—Less than 100%
Ownership 772
Demonstration Problem 774
Chapter Summary 776
Key Terms 777
Review Questions 778
Questions for Further Thought 779
Objective Assignment 779
Exercises 781
Problems: Set A 784
Problems: Set B 788
Decision Problem 792
Ethics Case 792
Objective Assignment Answers 793
USING FINANCIAL
STATEMENTS 795
CHAPTER 18 The Statement of Cash Flows 796
Learning Objectives 797
Chapter Outline 797
The Purpose of the Statement of Cash Flows 798
The Structure of the Statement of Cash
Flows 799
The Operating Activities Section 799
The Investing Activities Section 808
The Financing Activities Section 810
The Statement of Cash Flows:
The T Account Approach 812
The Indirect Method 812
The Direct Method 828
The Statement of Cash Flows:
The Worksheet Approach 831
Demonstration Problem 834
Chapter Summary 837
Key Terms 838
Review Questions 838
Questions for Further Thought 839
Objective Assignment 839
Exercises 841
Problems: Set A 843
Problems: Set B 851
Decision Problem 860
Ethics Case 861
Objective Assignment Answers 861
xviii contents
CHAPTER 19 Financial Statement Analysis 862
Learning Objectives 863
Chapter Outline 863
Horizontal Analysis: Comparison of 2
or More Years 864
Comparative Financial Statements 864
Trend Analysis 866
Vertical Analysis: Comparison of Items
within a Single Time Period 867
Common Size Financial Statements 867
Ratios 869
Analysis of Liquid Position 870
Working Capital 870
The Current Ratio 870
The Quick Ratio 872
Inventory Turnover 873
Accounts Receivable Turnover 873
Average Age of Receivables 874
Analysis of Debt Paying Ability 874
The Tunes Interest Earned Ratio 874
The Debt to Total Assets Ratio 875
The Stockholders Equity to Total Assets Ratio 875
Analysis of Earnings Performance 876
Rate of Return on Total Assets 876
Rate of Return on Common Stockholders Equity 876
Earnings per Share of Common Stock 878
The Price Earnings Ratio 878
Dividend Yield Rate 879
Interpretation of Financial Ratios 879
Company History 879
External Standards 880
Analysis of Notes to the Financial
Statements 880
Accounting Policies Note 881
Contingencies Note 881
Other Descriptive Notes 882
Analysis of the Independent Auditor s
Report 882
Other Sources of Information 884
Demonstration Problem 884
Chapter Summary 887
Key Terms 889
Review Questions 891
Questions for Further Thought 891
Objective Assignment 891
Exercises 893
Problems: Set A 897
Problems: Set B 904
Decision Problem 912
Ethics Case 913
Objective Assignment Answers 914
FINANCIAL STATEMENTS:
PepsiCo, Inc. 915
MANAGEMENT ACCOUNTING:
ITS STRUCTURE AND
ENVIRONMENT 933
CHAPTER 20 Introduction to Management
Accounting and Cost Accounting
Systems 934
Learning Objectives 935
Chapter Outline 935
The Differences between Management
Accounting and Financial Accounting 936
Two Basic Differences 936
Other Differences 937
The Primary Roles of Management
Accountants and Cost Accountants 939
Planning 939
Control 939
Product Costing 941
Financial Statements for Merchandisers
and Manufacturers 952
The Income Statement 953
Schedules for Determining a Manufacturer s Cost
of Goods Sold 953
The Balance Sheet 955
Beginning and Ending Inventories: A Simplifying
Assumption 955
Ethics and Management Accounting 956
Competence Standards 957
Confidentiality Standards 957
Integrity Standards 957
Objectivity Standards 958
Demonstration Problem 958
Chapter Summary 960
Key Terms 961
Review Questions 963
Questions for Further Thought 964
Objective Assignment 964
Exercises 965
Problems: Set A 969
Problems: Set B 972
Decision Problem 974
Ethics Case 975
Objective Assignment Answers 975
CHAPTER 21 Job Order Costing 976
Learning Objectives 977
Chapter Outline 977
Job Order Costing versus Process Costing 978
Accounting Records in Job Order Costing 979
Job Order Costing Procedures 981
Purchases of Raw Materials 981
Direct Materials Used 983
Direct Labor Costs 984
Factory Overhead Incurred 985
Factory Overhead Applied 988
Payment of Salaries 990
Summary of Costs of Producing Jobs 2 and 3 991
Completion of Job 2 992
Sale of Job 1 992
Overview of the Monthly Flow of Product
Costs 992
Year End Handling of Under or
Overapplied Overhead 993
Application of Job Order Costing to
Service Organizations 994
A Review of Job Order Costing 995
Demonstration Problem 996
Chapter Summary 998
Key Terms 999
Review Questions 1000
Questions for Further Thought 1000
Objective Assignment 1001
Exercises 1002
Problems: Set A 1004
Problems: Set B 1010
Decision Problem 1016
Ethics Case 1017
Objective Assignment Answers 1017
CHAPTER 22 Process Costing 1018
Learning Objectives 1019
Chapter Outline 1019
The Process Costing Method 1021
Equivalent Whole Units 1022
Basic Steps in Accounting for the Process
Costing Method 1024
Process Costing Illustrated: Processing
Department 1 1024
Step 1 for the Processing Department 1: Tracing
the Physical Flow 1025
Step 2 for Processing Department 1: Preparing
a Production Report 1026
Step 3 for Processing Department 1: Preparing a Summary
of Costs Report 1029
Journal Entries and T Accounts for Processing
Department 1 1031
The Illustration Continued: Processing
Department 2 1033
Step 1 for Processing Department 2: Tracing
the Physical Flow 1033
CONTENTS xix
Step 2 for Processing Department 2: Preparing
a Production Report 1034
Step 3 for Processing Department 2: Preparing a Summary
of Costs Report 1036
Journal Entries and T Accounts for Processing
Department 2 1037
The Illustration Concluded: Some Final
Comments 1038
Combining Direct Labor and Factory Overhead 1038
Raw Materials Added at the End of Processing 1038
Sale of Goods 1039
The Flow of Costs from Beginning to End 1039
An Overview of Process Costing 1039
Just in Time (JTT) Philosophy 1041
Just in Time versus Just in Case 1041
Major Concepts of the Just in Time Philosophy 1042
Demonstration Problem 1043
Chapter Summary 1046
Key Terms 1047
Review Questions 1048
Questions for Further Thought 1049
Objective Assignment 1049
Exercises 1051
Problems: Set A 1054
Problems: Set B 1058
Decision Problem 1061
Ethics Case 1062
Objective Assignment Answers 1063
CHAPTER 23 The Contribution Approach to
Cost Volume Profit Analysis 1064
Learning Objectives 1065
Chapter Outline 1065
Variable and Fixed Costs 1066
Graphs for Variable and Fixed Costs 1067
Relevant Range of Activity 1068
Cost Drivers 1070
Mixed Costs 1071
Determining the Variable Cost Rate and Total Fixed Costs
for a Mixed Cost 1072
Introduction to the Techniques of Cost
Volume Profit Analysis 1074
The Contribution Margin Format of the Income
Statement 1075
Additional Concepts Needed for Cost Volume Profit
Analysis 1077
Applying the Techniques of Cost Volume
Profit Analysis 1080
The Income Equation Technique 1080
The Contribution Margin Technique 1081
The Margin of Safety 1081
The Effect of Income Taxes 1082
XX CONTENTS
Graphical Approach to Cost Volume Profit
Analysis 1083
Overview of Cost Volume Profit
Relationships 1085
Cost Volume Profit Analysis for a
Multiproduct Firm 1086
Sales Mix 1087
Sales Mix and C V P Analysis 1087
Assumptions Underlying Cost Volume
Profit Analysis 1089
Direct Costing versus Absorption Costing 1089
The Difference between Direct Costing and Absorption
Costing 1090
Demonstration Problem 1092
Chapter Summary 1094
Key Terms 1096
Review Questions 1097
Questions for Further Thought 1098
Objective Assignment 1098
Exercises 1100
Problems: Set A 1104
Problems: Set B 1107
Decision Problem 1110
Ethics Case 1111
Objective Assignment Answers 1111
CHAPTER 24 The Master Budget 1112
Learning Objectives 1113
Chapter Outline 1113
Advantages of Using Budgets 1114
Direction for Planning 1114
Control of Performance 1115
Coordination of Activities 1115
Positive Motivation 1115
Types of Budgets 1116
Participants in the Budget Process 1117
Preparing the Master Budget 1117
Components of the Master Budget 1117
An Overview of the Budget Process 1118
Steps in the Budget Process 1121
Demonstration Problem 1133
Chapter Summary 1137
Key Terms 1138
Review Questions 1139
Questions for Further Thought 1140
Objective Assignment 1140
Exercises 1142
Problems: Set A 1145
Problems: Set B 1150
Decision Problem 1154
Ethics Case 1157
Objective Assignment Answers 1157
CHAPTER 25 Controlling Costs with Flexible
Budgets, Standard Costs,
and Variances 1158
Learning Objectives 1159
Chapter Outline 1159
Responsibility Centers 1160
Responsibility Accounting 1160
Controllability of Costs 1161
The Master Budget Revisited 1161
The Performance Report: Comparing the Master Budget to
Actual Results 1162
Effectiveness and Efficiency 1162
Flexible Budgets 1163
Flexible Budgets as a Planning Tool 1163
Flexible Budgets as a Control Tool 1164
Standard Costs 1166
The Uses of Standard Costs 1167
Types of Standards and Variances 1167
Standard Costs and Flexible Budgets: A Clarification 1169
Direct Materials 1170
Direct Labor 1173
Variable Factory Overhead 1177
Fixed Factory Overhead: Price and Quantity Variances 1181
Using Standard Costs for Product Costing 1183
Demonstration Problem 1187
Chapter Summary 1190
Key Terms 1191
Review Questions 1193
Questions for Further Thought 1193
Objective Assignment 1194
Exercises 1195
Problems: Set A 1198
Problems: Set B 1202
Decision Problem 1205
Ethics Case 1207
Objective Assignment Answers 1207
CHAPTER 26 Evaluating the Performance
of Cost Centers, Profit Centers,
and Investment Centers 1208
Learning Objectives 1209
Chapter Outline 1209
Cost Centers 1210
Multiple Cost Centers 1210
Service Department Costs 1211
The Direct Method of Cost Allocation 1212
How Operating Departments Use Allocated Service
Costs 1215
Profit Centers 1216
Evaluating the Performance of Profit Centers 1217
Assessment of Income Statements 1220
Investment Centers 1221
Return on Investment (ROD 1222
Assessing Performance with ROI 1223
Criticisms of Reliance on ROI 1225
Demonstration Problem 1226
Chapter Summary 1228
Key Terms 1229
Review Questions 1230
Questions for Further Thought 1230
Objective Assignment 1231
Exercises 1232
Problems: Set A 1236
Problems: Set B 1239
Decision Problem 1243
Ernies Case 1244
Objective Assignment Answers 1245
CHAPTER 27 Relevant Information for Planning
Short Run and Long Run Decisions 1246
Learning Objectives 1247
Chapter Outline 1247
The Concept of Relevance 1248
Quantitative versus Qualitative Factors
in Decision Making 1248
Types of Decision Situations 1249
Planning Short Run Decisions 1250
Accepting Special Orders 1250
Dropping a Product line 1253
Maximizing Profits with Sales Mix Analysis 1255
Making or Buying Raw Materials 1256
CONTENTS xxi
Other Short Run Decisions 1258
Planning Long Run Decisions: Capital
Budgeting s Role 1259
Discounted Cash Flow Methods 1260
Nondiscounted Cash Flow Methods 1267
Overview of Capital Budgeting Methods 1270
Income Tax Considerations with Capital
Budgeting 1271
Determining Aftertax Cash Flows 1272
Capital Budgeting Methods Using Aftertax Cash Flows
Demonstration Problem 1274
Chapter Summary 1277
Key Terms 1278
Review Questions 1279
Questions for Further Thought 1280
Objective Assignment 1280
Exercises 1283
Problems: Set A 1286
Problems: Set B 1290
Decision Problem 1293
Ethics Case 1294
Objective Assignment Answers 1294
Appendix A: Income Taxes 1295
Appendix B: The Periodic Method
of Accounting for Manufacturing
Costs 1302
Index 1 1
|
| any_adam_object | 1 |
| author | Smith, Jack L. Keith, Robert M. Stephens, William L. |
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| dewey-sort | 3657 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| edition | 4. ed. |
| format | Book |
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| id | DE-604.BV010060300 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T09:47:10Z |
| institution | BVB |
| isbn | 0071128239 0070591830 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-006674546 |
| oclc_num | 25787159 |
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| physical | XXX, 1314, 12 S. Ill., graph. Darst. |
| publishDate | 1993 |
| publishDateSearch | 1993 |
| publishDateSort | 1993 |
| publisher | McGraw-Hill |
| record_format | marc |
| spellingShingle | Smith, Jack L. Keith, Robert M. Stephens, William L. Accounting principles Accounting gtt Accounting Rechnungswesen (DE-588)4048732-5 gnd |
| subject_GND | (DE-588)4048732-5 |
| title | Accounting principles |
| title_auth | Accounting principles |
| title_exact_search | Accounting principles |
| title_full | Accounting principles Jack L. Smith ; Robert M. Keith ; William L. Stephens |
| title_fullStr | Accounting principles Jack L. Smith ; Robert M. Keith ; William L. Stephens |
| title_full_unstemmed | Accounting principles Jack L. Smith ; Robert M. Keith ; William L. Stephens |
| title_short | Accounting principles |
| title_sort | accounting principles |
| topic | Accounting gtt Accounting Rechnungswesen (DE-588)4048732-5 gnd |
| topic_facet | Accounting Rechnungswesen |
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