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eBook (EPUB) [PDF] Financial Accounting By P. D. KIMMEL and J. J. WEYGANDT & D. E. KIESO
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- 1,196
- File size
- 29.64 MB
- Format
- Digital PDF
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- Education
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- eBook[PDF]
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About this ebook
The Financial Accounting by Paul D. Kimmel, Jerry J. Weygandt, and Donald E. Kieso covers the essential foundations of financial accounting, focusing on a decision-making approach that balances conceptual framework with structural procedures. [1, 2]
The textbook is typically structured around the following core topics:
1. The Accounting Cycle & Foundations
- Introduction to Financial Statements: Understanding the purpose of accounting and the three main corporate activities: financing, investing, and operating. Introduction to the Income Statement, Balance Sheet, Retained Earnings Statement, and Statement of Cash Flows. [1, 2, 3]
- The Accounting Information System: Analyzing transactions, understanding the accounting equation, journaling entries, posting to the ledger, and preparing a trial balance. [1, 2]
- Accrual Accounting Concepts: Adjusting entries, time period assumptions, deferrals, accruals, and preparing the adjusted trial balance. [1, 2, 3]
- Completing the Accounting Cycle: Preparing closing entries, post-closing trial balances, and reversing entries.
2. Accounting for Business Operations & Operating Assets
- Merchandising Operations: Recording purchases and sales of inventory, freight costs, sales returns, and discounts under perpetual and periodic systems.
- Inventories: Inventory cost flow assumptions (FIFO, LIFO, Average-Cost), lower-of-cost-or-market valuation, and inventory errors.
- Fraud, Internal Control, and Cash: Principles of internal control, bank reconciliations, and managing cash.
- Accounting for Receivables: Valuation and recognition of accounts receivable, bad debt expense (allowance method vs. direct write-off), and notes receivable. [1, 2, 3]
3. Long-Term Assets and Liabilities
- Plant Assets, Natural Resources, and Intangible Assets: Determining the cost of plant assets, depreciation methods (straight-line, declining-balance, units-of-activity), asset disposals, and amortization of intangibles.
- Current Liabilities and Payroll: Accounting for notes payable, sales taxes payable, unearned revenues, and payroll foundational concepts.
- Long-Term Liabilities: Accounting for bonds payable (issuance, interest amortization using straight-line and effective-interest methods, and bond redemptions) and long-term notes payable. [1, 2, 3]
4. Equity, Analysis, and Special Topics
- Corporations (Organization, Share Transactions, and Equity): Issuing common and preferred stock, treasury stock, cash and stock dividends, stock splits, and retained earnings.
- Statement of Cash Flows: Purpose of the statement, preparing cash flows using the indirect (and sometimes direct) method from operating, investing, and financing activities.
- Financial Analysis (Big Picture): Utilizing ratio analysis (liquidity, profitability, solvency), horizontal analysis, and vertical analysis to evaluate company performance.
- Regulatory Environments (US GAAP & IFRS): The foundational framework of accounting standards and standard-setting bodies, often including comparative insights between US GAAP and International Financial Reporting Standards (IFRS). [1, 2, 3, 4, 5, 6]
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eBook-EPUB-PDF-Financial-Accounting-By-P.-D.-KIMMEL-and-J.-J.-WEYGANDT-D.-E.-KIESO.pdf
29.64 MB
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