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Financial Statements: Form and Content
This chapter has been updated for this edition by the editors.
Jan R. Williams, PhD, CPA
College of Business Administration University of Tennessee
4.2 Principles Underlying Financial Statements
(a) Objectives of Financial Reporting
(b) Selected Underlying Principles
(i) Multiple Sources of Information
(ii) Approximate Measures
(iii) Historical Orientation
(iv) General-Purpose Financial Statements
(v) Accrual Accounting
(vi) Explanatory Notes and Disclosures
4.3 Balance Sheet
(i) Current Assets
(ii) Noncurrent Assets
(i) Current Liabilities
(ii) Noncurrent Liabilities
(iii) Working Capital and the Current Ratio
(c) Stockholders' Equity
(i) Contributed Equity
(ii) Retained Earnings
(iii) Subclassifying Stockholders' Equity
4.4 Income Statement
(c) Presentation Issues
(d) Special Issues: Extraordinary Items Discontinued Operations, and Other Comprehensive Income
(i) Extraordinary Items
(ii) Unusual Gains and Losses
(iii) Discontinued Operations
(iv) Other Comprehensive Income
(v) Corrections of an Error
4.5 Statement of Stockholders' Equity
4.6 Statement of Cash Flows
(a) Operating Activities
(b) Investing Activities
(c) Financing Activities
4.7 Articulation of Financial Statements
4.8 Financial Statement Disclosure
(a) Broad Disclosure Requirements
(i) Accounting Policies
(ii) Related Party Transactions
(iii) Subsequent Events
(iv) Doubt Concerning Continued Existence ...
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