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Core concepts of accounting / Robert N. Anthony and Leslie K. Breitner.
LIBRA HF5635 .A6879 2003 Suppl.
Available from offsite location
- Format:
- Book
- Author/Creator:
- Anthony, Robert N. (Robert Newton), 1916-2006.
- Language:
- English
- Subjects (All):
- Accounting.
- Physical Description:
- ix, 169 pages : illustrations ; 23 cm
- Edition:
- Eighth edition.
- Place of Publication:
- Upper Saddle River, N.J. : Pearson/Prentice Hall, [2003]
- Summary:
- "Core Concepts of Accounting" offers learners a shortcut to understanding the basic terminology and fundamental concepts of accounting. This handy book has been completely revised! It captures the full text of the self paced "workbook" approach of "Essentials of Accounting, Eight Edition, " which includes important accounting concepts and terms, a clear explanation of financial statements, the use of financial accounting information, and a comprehensive glossary of over 500 key accounting terms. Other key topics include balance sheet changes--income measurement, accounting records and systems, revenues and monetary assets, expense measurement--the income statement, inventories and cost of sales, noncurrent assets and depreciation, liabilities and equity, and statement of cash flows. For individuals interested in entering the accounting field.
- Contents:
- Elements of the Balance Sheet 3
- Assets 3
- Liabilities and Equity 3
- Dual-Aspect Concept 4
- Money-Measurement Concept 6
- Entity Concept 6
- Gong-Concern Concept 7
- Asset-Management Concept 8
- Balance Sheet Items 10
- Assets 10
- Liabilities 11
- Current Ratio 12
- Equity 12
- Part 2 Balance Sheet Changes; Income Measurement 15
- Current Assets 15
- Noncurrent Assets 16
- Current Liabilities 17
- Noncurrent Liabilities 18
- Equity 18
- Balance Sheet Changes 18
- Income Measurement 26
- Part 3 Accounting Records and Systems 31
- The Account 31
- Rules for Increases and Decreases 33
- Debit and Credit 35
- Income Statement Accounts 36
- The Ledger and the Journal 37
- The Closing Process 38
- A Note on Computers 41
- Part 4 Revenues and Monetary Assets 45
- Fiscal Year 46
- Accrual Accounting 46
- Conservatism 47
- Materiality 48
- Realization 48
- Service Revenue 51
- Amount of Revenue 52
- Monetary Assets 54
- Days' Sales Uncollected 55
- Part 5 Expense Measurement; The Income Statement 57
- Expense and Expenditure 58
- Unexpired and Expired Costs 60
- Matching Concept 60
- Other Assets that Will Become Expenses 60
- Expenses that Create Liabilities 62
- Fringe Benefits 63
- Rent Expense 63
- Losses 64
- Summary of Matching Concept 64
- An Example of Matching 65
- The Income Statement 68
- A Package of Accounting Reports 70
- Income Statement Percentages 70
- Review of Basic Concepts 71
- Part 6 Inventories and Cost of Sales 73
- Finding Cost of Sales 73
- Inventory Valuation: Assumptions 77
- First-In, First-Out (Fifo) Method 79
- Last-In, First-Out (Lifo) Method 79
- Average-Cost Method 80
- Comparison of Inventory Methods 80
- Inventory Valuation: Adjustment to Market 81
- Inventory in a Manufacturing Company 82
- Product Costs and Period Costs 83
- Overhead Rates 83
- Inventory Turnover 84
- Part 7 Noncurrent Assets and Depreciation 87
- Noncurrent Assets 87
- Accounting for Acquisitions 88
- Capital Leases 88
- Depreciation 89
- Depreciation Methods 91
- Units-of-Production Depreciation 92
- Straight-Line Depreciation 92
- Accelerated Depreciation 93
- Accounting for Depreciation 94
- Sale of a Plant Asset 96
- Significance of Depreciation 96
- Depletion 96
- Intangible Assets 97
- Part 8 Liabilities and Equity 99
- Working Capital 99
- Sources of Capital 100
- Debt Capital 101
- Types of Equity Capital 102
- Common Stock 104
- Preferred Stock 106
- Retained Earnings and Dividends 106
- Distributions to Shareholders 107
- Cash Dividend 113
- Stock Dividend 113
- Stock Split 113
- Balance Between Debt and Equity Capital 108
- Debt Ratio 110
- Consolidated Financial Statements 111
- Part 9 Statement of Cash Flows 115
- Cash Flow from Operating Activities 118
- Adjustments for Depreciation Expense 119
- Adjustments for Changes in Working Capital Accounts 120
- Adjustments for Changes in Current Assets 120
- No Change in Balance 120
- Current Asset Balance Decreased 121
- Current Asset Balance Increases 122
- Analysis with Diagrams 122
- Adjustments for Changes in Current Liabilities 125
- Net Effect of Working Capital Changes 125
- Summary of Operating Adjustments 126
- Cash Flow from Investing and Financing Activities 127
- Investing Activities 127
- Financing Activities 127
- Completing the Statement of Cash Flows 128
- Uses of the Statement of Cash Flows 129
- Part 10 Analysis of Financial Statements 131
- Limitations of Financial Statement Analysis 131
- Auditing 132
- Overall Financial Measures of Performance 132
- Factors Affecting Return on Equity 134
- Tests of Capital Utilization 137
- Other Measures of Performance 140
- Profitability Measurement 142
- Tests of Financial Condition 143
- Part 11 Nonprofit Financial Statements 145
- Nonprofit Organizations 145
- Missions and Goals 147
- Net Assets 147
- Revenues, Expenses, and Investments 148
- Transfers 152
- Similarities to Financial Statement of For-Profit Entities 153
- Limitation of Ratio Analysis 153.
- Notes:
- This work is a review of: Essentials of accounting / Robert N. Anthony and Leslie Pearlman Breitner. 8th ed. c2003.
- Rev. ed. of: A review of Essentials of accounting, 7th edition [by] Robert N. Anthony and Leslie K. Pearlman / prepared by David L. Schwarzkopf. 7th ed. c2000.
- ISBN:
- 0130406716
- OCLC:
- 51559166
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