Provide future business professionals with a practical introduction to financial and managerial accounting without the use of debits and credits. With its unique focus on building students' decision-making skills and emphasis on financial statements, Survey of Accounting, 3rd Edition meaningfully integrates data analytics and the importance of using accounting information in real-world decision-making. Adaptive practice opportunities and engaging real-world industry examples and videos strengthen student understanding of accounting concepts and illustrate how these are relevant to their everyday lives and future careers in business and accounting.
1 Introduction to Financial Statements 1-1 1.1 Business Organization and Accounting Information Uses 1-2 1.2 The Three Types of Business Activity 1-8 1.3 The Four Financial Statements 1-11 2 A Further Look at the Balance Sheet 2-1 2.1 The Classified Balance Sheet 2-2 2.2 Analyzing the Balance Sheet Using Ratios 2-8 3 The Accounting Information System 3-1 3.1 Financial Reporting Concepts 3-2 3.2 Using the Accounting Equation to Analyze Transactions 3-8 4 Accrual Accounting Concepts 4-1 4.1 Accrual-Basis Accounting and Adjustments 4-2 4.2 Adjustments for Deferrals 4-8 4.3 Adjustments for Accruals 4-15 4.4 Preparing Financial Statements 4-21 5 Fraud, Internal Control, and Cash 5-1 5.1 Fraud and Internal Control 5-3 5.2 Cash Controls 5-12 5.3 Control Features of a Bank Account 5-17 5.4 Reporting Cash 5-26 6 Merchandising Operations and the Multiple-Step Income Statement 6-1 6.1 Merchandising Operations and Inventory Purchases 6-2 6.2 Recording Sales Under a Perpetual Inventory System 6-9 6.3 Multiple-Step Income Statement 6-13 6.4 Gross Profit Rate and Profit Margin 6-17 7 Reporting and Analyzing Inventory and Receivables 7-1 7.1 Classifying and Determining Inventory 7-3 7.2 Inventory Methods and Financial Effects 7-6 7.3 Reporting Receivables 7-15 7.4 Inventory Presentation and Analysis 7-23 8 Reporting and Analyzing Long-Lived Assets 8-1 8.1 Plant Asset Expenditures 8-3 8.2 Depreciation Methods 8-8 8.3 Plant Asset Disposals 8-16 8.4 Intangible Assets 8-18 8.5 Statement Presentation and Analysis 8-23 9 Reporting and Analyzing Liabilities and Stockholders’ Equity 9-1 9.1 Accounting for Current Liabilities 9-3 9.2 Accounting for Bond Transactions 9-9 9.3 Accounting for Common, Preferred, and Treasury Stock 9-15 9.4 Accounting for Cash Dividends 9-24 9.5 Presentation and Analysis of Stockholders’ Equity 9-28 10 Financial Analysis: The Big Picture 10-1 10.1 Sustainable Income and Quality of Earnings 10-3 10.2 Horizontal Analysis and Vertical Analysis 10-9 10.3 Ratio Analysis 10-15 11 Managerial Accounting 11-1 11.1 Managerial Accounting Basics 11-3 11.2 Managerial Cost Concepts 11-7 11.3 Manufacturing Costs in Financial Statements 11-12 11.4 Managerial Accounting Today 11-16 12 Job Order Costing 12-1 12.1 Cost Accounting Systems 12-3 12.2 Assigning Manufacturing Costs 12-8 12.3 Predetermined Overhead Rates 12-13 12.4 Jobs Completed and Sold 12-16 12.5 Applied Manufacturing Overhead 12-22 13 Cost-Volume-Profit 13-1 13.1 Cost Behavior Analysis 13-3 13.2 Mixed Costs Analysis 13-8 13.3 Cost-Volume-Profit Analysis 13-11 13.4 Break-Even Analysis 13-16 13.5 Target Net Income and Margin of Safety 13-20 14 Incremental Analysis 14-1 14.1 Decision-Making and Incremental Analysis 14-3 14.2 Special Orders 14-6 14.3 Make or Buy 14-8 14.4 Sell or Process Further 14-11 14.5 Repair, Retain, or Replace Equipment 14-14 14.6 Eliminate Unprofitable Segment or Product 14-16 15 Budgetary Planning 15-1 15.1 Effective Budgeting and the Master Budget 15-3 15.2 Sales, Production, and Direct Materials Budgets 15-8 15.3 Direct Labor, Manufacturing Overhead, and S&A Expense Budgets 15-14 15.4 Cash Budget and Budgeted Balance Sheet 15-18 15.5 Budgeting in Nonmanufacturing Companies 15-23 16 Budgetary Control and Responsibility Accounting 16-1 16.1 Budgetary Control and Static Budget Reports 16-3 16.2 Flexible Budget Reports 16-7 16.3 Responsibility Accounting and Responsibility Centers 16-14 16.4 Investment Centers 16-24 17 Standard Costs and Balanced Scorecard 17-1 17.1 Overview of Standard Costs 17-3 17.2 Direct Materials Variances 17-8 17.3 Direct Labor and Manufacturing Overhead Variances 17-13 17.4 Variance Reports and Balanced Scorecards 17-18 18 Planning for Capital Investments 18-1 18.1 Capital Budgeting and Cash Payback 18-3 18.2 Net Present Value Method 18-6 18.3 Capital Budgeting Challenges and Refinements 18-12 18.4 Internal Rate of Return 18-17 18.5 Annual Rate of Return 18-20 Appendix A Specimen Financial Statements: Apple Inc. A-1 Appendix B Specimen Financial Statements: Columbia Sportswear Company B-1 Appendix C Specimen Financial Statements: Under Armour, Inc. C-1 Appendix D Double-Entry Accounting System D-1 Appendix E Time Value of Money E-1 Company Index / Subject Index I-1 Available in the Wiley Online Course and Wiley Custom: 19 Statement of Cash Flows 19-1 19.1 Usefulness and Format of the Statement of Cash Flows 19-3 19.2 Preparing the Statement of Cash Flows— Indirect Method 19-6 19.3 Analyzing the Statement of Cash Flows 19-18 Appendix F Activity-Based Costing F-1 F.2 ABC and Manufacturers F-6 F.3 ABC Benefits and Limitations F-10 F.4 ABC and Service Industries F-16 Appendix G G.1 Basic CVP Concepts G-1 G.2 Sales Mix and Break-Even Sales G-5 G.3 Sales Mix with Limited Resources G-9 G.4 Operating Leverage and Profitability G-10 Appendix H Pricing H-1 H.1 Target Costing H-2 H.2 Cost-Plus and Variable-Cost Pricing H-3 H.3 Time-and-Material Pricing H-7 H.4 Transfer Prices H-9
