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Textbook
Financial Accounting, 7th EditionNovember 2009, ©2010
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What Is Accounting?
The Building Blocks of Accounting.
The Basic Accounting Equation.
Using the Basic Accounting Equation.
Financial Statements.
2. The Recording Process.
The Account.
Steps in the Recording Process.
The Recording Process Illustated.
The Trial Balance.
3. Adjusting the Accounts.
Timing Issues.
The Basics of Adjusting Entries.
The Adjusted Trial Balance and Financial Statements.
4. Completing the Accounting Cycle.
Using a Worksheet.
Closing the Books.
Summary of the Accounting Cycle.
The Classified Balance Sheet.
5. Accounting for Merchandising Operations.
Merchandising Operations.
Recording Purchases of Merchandise.
Recording Sales of Merchandise.
Completing the Accounting Cycle.
Forms of Financial Statements.
6. Inventories.
Classifying Inventory.
Determining Inventory Quantities.
Inventory Costing.
Inventory Errors.
Statement Presentation and Analysis.
7. Fraud, Internal Control, and Cash.
Fraud and Internal Control.
Cash Receipts Controls.
Cash Disbursement Controls.
Control Features: Use of a Bank.
Reporting Cash.
8. Accounting for Receivables.
Types of Receivables.
Accounts Receivable.
Notes Receivable.
Statement Presentation and Analysis.
9. Plant Assets, Natural Resources, and Intangible Assets.
Determining the Cost of Plant Assets.
Depreciation.
Expenditures During Useful Life.
Plant Asset Disposals.
Accounting for Natural Resources.
Financial Statement Presentation.
Accounting for Intangible Assets.
Types of Intangible Assets.
Research and Development Costs.
Statement Presentation and Analysis.
10. Liabilities.
What Is a Current Liability?
Statement Presentation and Analysis.
Bond Basics.
Accounting for Bond Issues.
Accounting for Bond Retirements.
Accounting for Long-Term Notes Payable.
Statement Presentation and Analysis.
11. Corporations: Organization, stock Transactions, Dividends, and Retained Earnings.
The Corporate Form of Organization.
Accounting for Common Stock Issues.
Accounting for Treasury Stock.
Preferred Stock.
Cash Dividends.
Stock Dividends.
Stock Splits.
Retained Earnings Restrictions.
Prior Period Adjustments.
Retained Earnings Statement.
Statement Presentation and Analysis.
12. Investments.
Why Corporations Invest.
Accounting for Debt Investments.
Accounting for Stock Investments.
Valuing and Reporting Investments.
13. Statement of Cash Flows.
The Statement of Cash Flows: Usefulness and Format.
Preparing the Statement of Cash Flow—Indirect Method.
Using Cash Flows to Evaluate a Company.
14. Financial Statement Analysis.
Basics of Financial Statement Analysis.
Horizontal Analysis.
Vertical Analysis.
Ratio Analysis.
Earning Power and Irregular Items.
Quality of Earnings.
15. Accounting Principles.
(available online at www.wiley.com/college/weygandt).
Appendix A: Specimen Financial Statements: PepsiCo, Inc.
Appendix B: Specimen Financial Statements: The Coca-Cola Company.
Appendix C: Time Value of Money.
Appendix D: Payroll Accounting.
Appendix E: Subsidiary Ledgers and Special Journals.
Appendix F: Other Significant Liabilities.
IFRS Appendix.
Photo Credits.
Company Index.
Subject Index.
- NEW“Anatomy of a Fraud” boxes contain popular examples of corporate fraud, providing students with a context for the importance of maintaining good internal controls
- NEW Section: Comprehensive Do It Problem with Action Plan- gives students an opportunity to see a detailed solution to a representative problem before they do their homework. Coincides with the Do It problems within the chapter.
- MORE “Do It” problems throughout the chapters which will help to model the problems for students as they complete their homework.
- Significant updates to the Internal Control and Cash chapter – including an expanded discussion of fraud.
- Increase coverage of international topics and convergence - Additional International notes to each chapter, International issues in the text , (e.g. depreciation methods ), IFRS and US GAAP.
- NEWself-study questions to each chapter
- The Navigator – guides students through each chapter by pulling all the learning tools together into a learning system.
- Student and Instructor Approved Pedagogyincludes marginal accounting equation analyses, and financial statements and ratio analysis throughout the text. The strategic use of color, photographs, and illustrations rated #1 in instructor satisfaction
- Financial Reporting and Analysis - includes Financial Reporting Problems, Comparative Analysis Problems, Interpreting Financial Statements, and Exploring the Web exercises.
- End-of-chapter Brief Exercises, Exercises, and Problems now classified by Learning Objective.
- International Insight paragraphs (in margins) describe or compare the accounting practices in other countries.
- Critical Thinking - includes Group Decision Case, Communication Activity, and Ethics Case.
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