財務會計

本書涵蓋了財務會計的基本概念、原則和理論方法，內容完整。 作者在寫作過程中，注意理論聯繫實際，書中例題、案例以及書後習題絕大多數為世界著名大公司的實例，容易引起讀者的興趣。教材在一開始即強調會計信息與決策的關係，各章節都體現了作者對決策與會計信息關係的重視。本書另一個特點是現金流量表項目貫穿始終。教材中各章節均注意強調會計處理中存在的職業道德問題，這對於會計師這一行業來説十分重要。書後還附有大量習題與案例。 ^[3] 

viiiPreface xvVisual Walk-Through xviiiChapter 1

The Financial Statements 1Spotlight The Walt Disney Company 1Explain Why Accounting Is the Language of

Business 4Who Uses Accounting Information? 4Two Kinds of Accounting: Financial Accounting and

Management Accounting 5Organizing a Business 5Explain and Apply Underlying Accounting Concepts,

Assumptions, and Principles 7The Entity Assumption 8The Continuity (Going-Concern) Assumption 8The Historical Cost Principle 9The Stable-Monetary-Unit Assumption 9Apply the Accounting Equation to Business

Organizations 11Assets and Liabilities 11Owners’ Equity 12Evaluate Business Operations Through the Financial

Statements 14The Income Statement Measures Operating

Performance 15The Statement of Retained Earnings Shows What a

Company Did with Its Net Income 18The Balance Sheet Measures Financial Position 19The Statement of Cash Flows Measures Cash Receipts

and Payments 22Construct Financial Statements and Analyze the

Relationships Among Them 24Evaluate Business Decisions Ethically 26American Institute of Certified Public Accountants

Code of Professional Conduct 28End-of-Chapter Summary Problem 30Chapter 2

Transaction Analysis 52Spotlight The Walt Disney Company

records Millions of Transactions a Year! 52Explain What a Transaction Is 53Define “Account,” and List and Differentiate Between

Different Types of Accounts 54Assets 54Liabilities 55Stockholders’ (Owners’) Equity 55Show the Impact of Business Transactions on the

Accounting Equation 56Example: Alladin Travel, Inc. 56Transactions and Financial Statements 62Mid-Chapter Summary Problem 65Analyze the Impact of Business Transactions on

Accounts 67The T-Account 67Increases and Decreases in the Accounts: The Rules of

Debit and Credit 67Additional Stockholders’ Equity Accounts: Revenues and

Expenses 69Record (Journalize and Post) Transactions in the

Books 70Copying Information (Posting) from the Journal to the

Ledger 71The Flow of Accounting Data 72Accounts after Posting to the Ledger 76Construct and Use a Trial Balance 77Analyzing Accounts 78Correcting Accounting Errors 79Chart of Accounts 79The Normal Balance of an Account 80Account Formats 80Analyzing Transactions Using Only T-Accounts 81End-of-Chapter Summary Problem 83CoNTeNTsA01_the A thurosxiii

vii

ixChapter 3

Accrual Accounting & Income 106Spotlight september Is Busy at Walt

Disney World Headquarters 106Explain How Accrual Accounting Differs from

Cash-Basis Accounting 107Accrual Accounting and Cash Flows 108The Time-Period Concept 109Apply the Revenue and Expense Recognition

Principles 109The Revenue Principle 109The Expense Recognition Principle 110Ethical Issues in Accrual Accounting 112Adjust the Accounts 112Which Accounts Need to Be Updated

(Adjusted)? 112Categories of Adjusting Entries 113Prepaid Expenses 113Depreciation of Plant Assets 116Accrued Expenses 119Accrued Revenues 120Unearned Revenues 121Summary of the Adjusting Process 123The Adjusted Trial Balance 125Construct the Financial Statements 126Mid-Chapter Summary Problem 128Close the Books 133Classifying Assets and Liabilities Based on Their

Liquidity 135Reporting Assets and Liabilities: The Walt Disney

Company 135Formats for the Financial Statements 135Analyze and Evaluate a Company’s Debt-Paying

Ability 137Net Working Capital 138Current Ratio 138Debt Ratio 139How Do Transactions Affect the Ratios? 139End-of-Chapter Summary Problem 143Chapter 4

Internal Control & Cash 173Spotlight Cooking the Books

at Green Valley Coffee Company:

$10 Million Is a Lot of Beans! 173Describe Fraud and Its Impact 176Fraud and Ethics 178Explain the Objectives and Components

of Internal Control 178The Sarbanes-Oxley Act (SOX) 179The Components of Internal Control 180Internal Control Procedures 181Information Technology 183Safeguard Controls 184Internal Controls for E-Commerce 184Security Measures 185The Limitations of Internal Control—Costs

and Benefits 185Design and Use a Bank

Reconciliation 186Signature Card 186Deposit Ticket 186Check 186Bank Statement 187Bank Reconciliation 187Preparing the Bank Reconciliation 188Online Banking 191Mid-Chapter Summary

Problem 193Evaluate Internal Controls Over Cash

Receipts and Cash Payments 195Cash Receipts over the Counter 195Cash Receipts by Mail 195Controls over Payment by Check 196Construct and Use a Cash Budget 198Report Cash on the Balance Sheet 200Compensating Balance Agreements 200End-of-Chapter Summary

Problem 201Contents ixA01_

viii

x ContentsChapter 5

Short-Term Investments &

Receivables 217Spotlight Amazing Apple!

short-Term Investments and Accounts

receivable Are 14 Times as Large as

Inventories! 217Account for Short-Term Investments 219Reasons to Invest in Other Companies 219Trading Securities 220Reporting on the Balance Sheet and the Income

Statement 224Ethics and the Current Ratio 224Mid-Chapter Summary Problem 225Apply GAAP for Proper Revenue

Recognition 226Shipping Terms 229Collection Within (vs. Outside) the Discount

Period 229Sales Refunds, Returns, and Allowances 229Account for and Control Accounts

Receivable 231Types of Receivables 231Internal Controls Over Cash Collections on

Account 232How Do We Manage the Risk of Not

Collecting? 232Evaluate Collectibility Using the Allowance for

Uncollectible Accounts 234Allowance Method 235Direct Write-Off Method 240Computing Cash Collections from

Customers 240Account for Notes Receivable 241Accounting for Notes Receivable 242Show How to Speed Up Cash Flow from

Receivables 244Credit Card or Bankcard Sales 244Selling (Factoring) Receivables 245Reporting on the Statement of Cash

Flows 245Evaluate Liquidity Using Two New Ratios 246Quick (Acid-Test) Ratio 246Accounts Receivable Turnover and Days’ Sales

Outstanding 246End-of-Chapter Summary Problem 248Chapter 6

Inventory & Cost of Goods

Sold 268Spotlight under Armour, Inc.: It’s

About More than Clothing! 268Show How to Account for Inventory 271Sale Price vs. Cost of Inventory 272Accounting for Inventory in the Perpetual

System 274Apply and Compare Various Inventory Cost

Methods 276What Goes into Inventory Cost? 276Apply the Various Inventory Costing

Methods 277Compare the Effects of FIFO, LIFO, and

Average Cost on Cost of Goods Sold,

Gross Profit, and Ending Inventory 279Keeping Track of Perpetual Inventories

under LIFO and Weighted-Average Cost

Methods 280The Tax Advantage of LIFO 281Mid-Chapter Summary Problem 282Explain and Apply Underlying GAAP for

Inventory 284Disclosure Principle 284Lower-of-Cost-or-Market Rule 284Compute and Evaluate Gross Profit (Margin)

Percentage, Inventory Turnover, and Days’

Inventory Outstanding (DIO) 286Gross Profit Percentage 286Inventory Turnover 287Use the COGS Model to Make Management

Decisions 288Computing Budgeted Purchases 289Estimating Inventory by the Gross Profit

Method 289A01_

Contents xiAnalyze Effects of Inventory Errors 290End-of-Chapter Summary Problem 293Chapter 7

Plant Assets, Natural Resources, &

Intangibles 317Spotlight Fedex Corporation 317Measure and Account for the Cost of Plant

Assets 320Land 320Buildings, Machinery, and Equipment 320Land Improvements and Leasehold

Improvements 321Lump-Sum (or Basket) Purchases of Assets 321Distinguish a Capital Expenditure from an

Immediate Expense 322Measure and Record Depreciation on Plant

Assets 324How to Measure Depreciation 325Depreciation Methods 325Comparing Depreciation Methods 330Mid-Chapter Summary Problem 332Other Issues in Accounting for

Plant Assets 333Depreciation for Tax Purposes 333Depreciation for Partial Years 335Changing the Useful Life of a Depreciable

Asset 335Fully Depreciated Assets 337Analyze the Effect of a Plant Asset

Disposal 337Disposing of a Fully Depreciated Asset for No

Proceeds 338Selling a Plant Asset 338Exchanging a Plant Asset 339T-Accounts for Analyzing Plant Asset

Transactions 340Apply GAAP for Natural Resources and

Intangible Assets 342Accounting for Natural Resources 342Accounting for Intangible Assets 343Accounting for Specific Intangibles 343Accounting for Research and Development

Costs 345Explain the Effect of an Asset Impairment on the

Financial Statements 345Analyze Rate of Return on Assets 347DuPont Analysis: A More Detailed View of

ROA 348Analyze the Cash Flow Impact of Long-Lived

Asset Transactions 349End-of-Chapter Summary Problem 352Chapter 8

Long-Term Investments & the Time

Value of Money 374Spotlight Intel Holds several Different

Types of Investments 374Stock and Bond Prices 376Reporting Investments on the Balance Sheet 376Analyze and Report Investments in Held-to-

Maturity Debt Securities 377Analyze and Report Investments in Available-for-

Sale Securities 379Accounting Methods for Long-Term Stock

Investments 379The Fair Value Adjustment 381Selling an Available-for-Sale Investment 382Analyze and Report Investments in Affiliated

Companies Using the Equity Method 383Buying a Large Stake in Another Company 383Accounting for Equity-Method Investments 384Analyze and Report Controlling Interests in

Other Corporations Using Consolidated

Financial Statements 386Why Buy Controlling Interest in Another

Company? 386Consolidation Accounting 386The Consolidated Balance Sheet and the Related

Work Sheet 387Goodwill and Noncontrolling Interest 388Income of a Consolidated Entity 388Mid-Chapter Summary Problem 390A01_

xii ContentsConsolidation of Foreign Subsidiaries 392Foreign Currencies and Exchange Rates 392The Foreign-Currency Translation Adjustment 393Report Investing Activities on the Statement of

Cash Flows 394Explain the Impact of the Time Value of Money

on Certain Types of Investments 395Present Value 396Present-Value Tables 397Present Value of an Ordinary Annuity 398Using Microsoft Excel to Calculate Present

Value 399Using the PV Model to Compute Fair Value of

Available-for-Sale Investments 401Present Value of an Investment in Bonds 401End-of-Chapter Summary Problems 403Chapter 9

Liabilities 422Spotlight southwest Airlines: Flying

High! 422Account for Current and Contingent

Liabilities 424Current Liabilities of Known Amount 424Current Liabilities That Must Be Estimated 430Contingent Liabilities 431Are All Liabilities Reported on the Balance

Sheet? 432Summary of Current Liabilities 433Mid-Chapter Summary Problem 433Account for Bonds Payable and Interest Expense

with Straight-Line Amortization 434Bonds: An Introduction 434Issuing Bonds Payable at Par (Face Value) 437Issuing Bonds Payable at a Discount 439Issuing Bonds Payable at a Premium 440Account for Bonds Payable and Interest Expense

with Effective Interest Amortization 442Issuing Bonds Payable at a Discount 442Interest Expense on Bonds Issued at a

Discount 443Partial-Period Interest Amounts 446Issuing Bonds Payable at a Premium 446Should We Retire Bonds Payable Before Their

Maturity? 449Convertible Bonds and Notes 450Analyze and Differentiate Financing with

Debt Versus Equity 451The Leverage Ratio 452The Times-Interest-Earned Ratio 453Understand Other Long-Term

Liabilities 454Leases 454Types of Leases 454Do Lessees Prefer Operating Leases or Capital

Leases? 455Pensions and Postretirement Liabilities 456Report Liabilities on the Financial

Statements 457Disclosing the Fair Value of Long-Term Debt 458Reporting Financing Activities on the

Statement of Cash Flows 458End-of-Chapter Summary

Problems 459Chapter 10

Stockholders’ Equity 484Spotlight The Home Depot:

Building Toward success 484Explain the Features of a Corporation 486Organizing a Corporation 487Stockholders’ Rights 488Stockholders’ Equity 489Classes of Stock 489Account for the Issuance of Stock 491Common Stock 491A Stock Issuance for Other Than Cash Can

Create an Ethical Challenge 494Preferred Stock 495Mid-Chapter Summary Problem 496Authorized, Issued, and Outstanding Stock 497A01_

Contents xiiiShow How Treasury Stock Affects a

Company 498How Is Treasury Stock Recorded? 498Retirement of Treasury Stock 499Resale of Treasury Stock 499Issuing Stock for Employee Compensation 500Summary of Treasury-Stock Transactions 501Account for Retained Earnings, Dividends,

and Splits 501Should the Company Declare and Pay Cash

Dividends? 502Cash Dividends 502Analyzing the Stockholder’s Equity Accounts 503Dividends on Preferred Stock 504Stock Dividends 505Stock Splits 506Summary of the Effects on Assets, Liabilities, and

Stockholders’ Equity 507Use Stock Values in Decision Making 507Market, Redemption, Liquidation, and Book

Value 507ROE: Relating Profitability to Stockholder

Investment 509Report Stockholders’ Equity Transactions in the

Financial Statements 511Statement of Cash Flows 511Statement of Stockholders’ Equity 512A Detailed Stockholders’ Equity Section of the

Balance Sheet 513End-of-Chapter Summary Problems 515Chapter 11

Evaluating Performance: Earnings

Quality, the Income Statement, &

the Statement of Comprehensive

Income 541Spotlight The Gap, Inc.: It’s About

earnings 541Evaluate Quality of Earnings 543Revenue Recognition 544Cost of Goods Sold and Gross Profit

(Gross Margin) 545Operating and Other Expenses 546Operating Income (Earnings) 546Account for Foreign-Currency Gains and

Losses 547Dollars Versus Foreign Currency 547Reporting Foreign-Currency Gains and Losses on

the Income Statement 548Reporting Foreign-Currency Exchange Gains and

Losses on Cash and Cash Equivalents in the

Statement of Cash Flows 549Should We Hedge Our Foreign-Currency-

Transaction Risk? 549Account for Other Items on the Income

Statement 549Interest Expense and Interest Income 549Corporate Income Taxes 549Which Income Number Predicts Future

Profits? 551Discontinued Operations 552Accounting Changes 553Compute Earnings per Share 554Analyze the Statement of Comprehensive

Income, Footnotes, and Supplemental

Disclosures 555Reporting Comprehensive Income 555For Additional Details, Don’t Forget the

Footnotes 556Nonfinancial Reports 558Differentiate Management’s and Auditors’

Responsibilities in Financial Reporting 558Management’s Responsibility 558Auditor Report 558End-of-Chapter Summary Problems 561Chapter 12

The Statement of Cash Flows 582Spotlight Google: The ultimate Answer

(and Cash) Machine 582Identify the Purposes of the Statement of Cash

Flows 584How’s Your Cash Flow? Telltale Signs of Financial

Difficulty 585

xiv ContentsDistinguish Among Operating, Investing, and

Financing Activities 586Two Formats for Operating Activities 587Prepare a Statement of Cash Flows by the

Indirect Method 587Cash Flows from Operating Activities 589Cash Flows from Investing Activities 593Cash Flows from Financing Activities 594Noncash Investing and Financing Activities 597Mid-Chapter Summary Problem 598Prepare a Statement of Cash Flows by the Direct

Method 601Cash Flows from Operating Activities 603Depreciation, Depletion, and Amortization

Expense 604Cash Flows from Investing Activities 604Cash Flows from Financing Activities 604Noncash Investing and Financing Activities 604Computing Operating Cash Flows by the Direct

Method 606Computing Investing and Financing Cash

Flows 609Measuring Cash Adequacy: Free Cash Flow 610End-of-Chapter Summary Problems 612Chapter 13

Financial Statement Analysis 640Spotlight under Armour, Inc., Is a

“red-Hot” Competitor! 640It Starts with the Big Picture 642Perform Horizontal Analysis 644Illustration: Under Armour, Inc. 644Trend Percentages 648Perform Vertical Analysis 649Illustration: Under Armour, Inc. 649Prepare Common-Size Financial Statements 652Benchmarking 652Benchmarking Against a Key Competitor 653Analyze the Statement of Cash Flows 653Mid-Chapter Summary Problem 656Use Ratios to Make Business Decisions 657Remember to Start at the Beginning: Company and

Industry Information 658Now Let’s Do the Numbers 660Measuring Ability to Pay Current Liabilities 660Measuring Turnover and the Cash Conversion

Cycle 663Measuring Leverage: Overall Ability to Pay

Debts 666Measuring Profitability 667Analyzing Stock as an Investment 671The Limitations of Ratio Analysis 673Use Other Measures to Make Investment

Decisions 674Economic Value Added (EVA). 674Red Flags in Financial Statement Analysis 675Efficient Markets 675End-of-Chapter Summary Problems 678AppEndix A:

Apple Inc. Annual Report 2014 709AppEndix B:

Under Armour, Inc. Annual Report 2014 709AppEndix C:

Typical Charts of Accounts for Different Types of

Businesses 709AppEndix d:

Summary of Generally Accepted Accounting Principles

(GAAP) 709AppEndix E:

Summary of Differences Between U.S. GAAP and IFRS

Cross Referenced to Chapter 709A01_ ^[3]