 
Financial Accounting: Tools for Business Decision Making, 5th Edition
October 2008, ©2009
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Knowing the Numbers.
Forms of Business Organization.
Users and Uses of Financial Information.
Business Activities.
Communicating with Users.
A Quick Look at Tootsie Roll's Financial Statements.
CHAPTER 2: A FURTHER LOOK AT FINANCIAL STATEMENTS.Just Fooling Around?
The Classified Balance Sheet.
Using the Financial Statements.
Keeping an Eye on Cash.
Financial Reporting Concepts.
CHAPTER 3: THE ACCOUNTING INFORMATION SYSTEM.
Accidents Happen.
The Accounting Information System.
Accounting Transactions.
The Account.
Steps in the Recording Process.
The Recording Process Illustrated.
The Trial Balance.
Keeping an Eye on Cash.
CHAPTER 4: ACCRUAL ACCOUNTING CONCEPTS.
What Was Your Profit?
Timing Issues.
The Basics of Adjusting Entries.
The Adjusted Trial Balance and Financial Statements.
Closing the Books.
Quality of Earnings.
Appendix: Adjusting Entries in an Automated World—Using a Worksheet.
CHAPTER 5: MERCHANDISING OPERATIONS AND THE MULTIPLE-STEP INCOME STATEMENT.
Who Doesn't Shop at Wal-Mart?
Merchandising Operations.
Recording Purchases of Merchandise.
Recording Sales of Merchandise.
Income Statement Presentation.
Evaluating Profitability.
Keeping an Eye on Cash.
Appendix: Periodic Inventory System.
Recording Merchandise Transactions.
Recording Purchases of Merchandise.
Recording Sales of Merchandise.
Comparison of Entries—Perpetual vs. Periodic.
CHAPTER 6: REPORTING AND ANALYZING INVENTORY.
Where Is That Spare Bulldozer Blade?
Classifying Inventory.
Determining Inventory Quantities.
Inventory Costing.
Keeping an Eye on Cash.
Analysis of Inventory.
Appendix 6A Inventory Cost Flow Methods in Perpetual Inventory Systems.
First-In, First-Out (FIFO).
Last-In, First-Out (LIFO).
Average Cost.
Appendix 6B Inventory Errors.
Income Statement Effects.
Balance Sheet Effects.
CHAPTER 7: FRAUD, INTERNAL CONTROL, AND CASH.
Minding the Money in Moose Jaw.
Fraud and Internal Control.
Cash Controls.
Control Features: Use of a Bank.
Reporting Cash.
Managing and Monitoring Cash.
Keeping an Eye on Cash.
Appendix Operation of the Petty Cash Fund.
Establishing the Petty Cash Fund.
Making Payments from Petty Cash.
Replenishing the Petty Cash Fund.
CHAPTER 8: REPORTING AND ANALYZING RECEIVABLES.
A Dose of Careful Management Keeps Receivables Healthy.
Types of Receivables.
Accounts Receivable.
Notes Receivable.
Financial Statement Presentation of Receivables.
Managing Receivables.
Keeping an Eye on Cash.
CHAPTER 9: REPORTING AND ANALYZING LONG-LIVED ASSETS.
A Tale of Two Airlines.
Section 1 Plant Assets.
Determining the Cost of Plant Assets.
Accounting for Plant Assets.
Analyzing Plant Assets.
Section 2 Intangible Assets.
Accounting for Intangible Assets.
Types of Intangible Assets.
Financial Statement Presentation of Long-Lived Assets.
Keeping an Eye on Cash.
Appendix: Calculation of Depreciation Using Other Methods.
Declining-Balance.
Units-of-Activity.
CHAPTER 10: REPORTING AND ANALYZING LIABILITIES.
And Then There Were Two.
Current Liabilities.
Bonds: Long-Term Liabilities.
Accounting for Bond Issues.
Accounting for Bond Retirements.
Financial Statement Presentation and Analysis.
Keeping an Eye on Cash.
Analysis.
Off-Balance-Sheet Financing.
Appendix 10A: Straight-Line Amortization.
Amortizing Bond Discount.
Amortizing Bond Premium.
Appendix 10B: Effective-Interest Amortization.
Amortizing Bond Discount.
Amortizing Bond Premium.
Appendix 10C: Accounting for Long-Term Notes Payable.
CHAPTER 11: REPORTING AND ANALYZING STOCKHOLDERS’ EQUITY.
What's Cooking?
The Corporate Form of Organization.
Stock Issue Considerations.
Accounting for Treasury Stock.
Preferred Stock.
Dividends.
Retained Earnings.
Financial Statement Presentation of Stockholders’ Equity.
Keeping an Eye on Cash.
Measuring Corporate Performance.
Appendix: Entries for Stock Dividends.
CHAPTER 12: STATEMENT OF CASH FLOWS.
Got Cash?
The Statement of Cash Flows: Usefulness and Format.
Preparation of the Statement of Cash Flows—Indirect Method.
Using Cash Flows to Evaluate a Company.
Keeping an Eye on Cash.
Appendix: Statement of Cash Flows—Direct Method.
Step 1: Operating Activities.
Step 2: Investing and Financing Activities.
Step 3: Net Change in Cash.
CHAPTER 13: FINANCIAL ANALYSIS: THE BIG PICTURE.
Making the Numbers.
Sustainable Income.
Comparative Analysis.
Ratio Analysis.
Quality of Earnings.
Appendix: Comprehensive Illustration of Ratio Analysis.
Liquidity Ratios.
Solvency Ratios.
Profitability Ratios.
APPENDIX A: Specimen Financial Statements: Tootsie Roll Industries, Inc.
APPENDIX B: Specimen Financial Statements: Hershey Foods Corporation.
APPENDIX C: Time Value of Money.
APPENDIX D: Reporting and Analyzing Investments.
- More “Do It” problems throughout the chapters which will help to model the problems for students as they complete their homework.
Recent feedback from focus groups and reviews indicated that students benefit from more examples.
- Enhanced demo problems, “Comprehensive Do it” at the end of the chapter are updated to work in conjunction with the Do It’s throughout the chapter.
- NEW“Using Cash Flows for Decisions” feature at the end of each chapter will give students a better understanding of how cash flows factor into business decision-making. Both majors and non-majors will benefit from this perspective given the importance of cash to small businesses and all corporations.
- Increased coverage of international topics and convergence between IFRS and
- Adding International notes to each chapter
- International issues will also be discussed in the text where appropriate (e.g. depreciation methods )
- Reformulation of the accounting equation in Chapter 3. The authors have expanded the owner’s equity portion of the accounting equation in the transaction discussion.
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IFRS in-depth: an expanded three-page discussion at the end of the text that addresses the importance of the movement towards IFRS. It introduces basic concepts such as IFRS and IASB - while contemplating the depth and speed of the convergence project. The text also provides a three page summary table to illustrate graphically the key similarities and key differences between IFRS and US GAAP for each chapter in the textbook.
- Chapter-Opening Feature Stories show students how key topics of the chapter relate to the real world of business and accounting. Most end with the Internet address of the company cited in the story, encouraging students to further explore the featured business. The authors periodically refer back to Feature Stories, putting ideas back into familiar context for the student.
- Business Insight boxes relate the chapter’s concepts to actual accounting situations in real business. Four different icons identify four different points of view: Management Perspective, Ethics Perspective, Investor Perspective, and International Perspective.
- Throughout each chapter, Decision Toolkits summarize the key features of the decision tools discussed in the prior section.
- A Using the Decision Toolkit exercise, with a solution, challenges students to use financial information from a financial statement to make a financial decision. This feature appears after the last Before You Go On section in each chapter.
- Accounting Across the Organization places accounting issues within the context of marketing, management, IT, and finance so students can readily see the relevance of accounting to their major. Related homework material illustrates how essential accounting knowledge is to all types of managers.
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