Financial and Managerial Accounting

Financial and Managerial Accounting

by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
Released December 2011
Publisher(s): Wiley
ISBN: 9781118004234

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Book description

Weygandt, Financial and Managerial Accounting, is a new first edition title. The new features include International Financial Reporting Standards (IFRS) modules, service company integration, and a focus on the accounting cycle. Financial and Managerial Accounting will address the need to prepare readers for a profession quickly moving to International Financial Reporting Standards (IFRS) and based on market development feedback, it will also address IFRS through modules at the end of each chapter.

Table of contents

  1. Cover Page
  2. Title Page
  3. Copyright
  4. From the Authors
  5. Your Team for Success in Accounting
  6. Author Commitment
  7. Wiley Managerial Accounting Video Series
  8. Wiley Plus
  9. The Wiley Faculty Network
  10. What TYPE of learner are you?
  11. Textbook Features
  12. Teaching and Learning Supplementary Material
  13. Acknowledgments
  14. Brief Contents
  15. Contents
  16. Chapter 1: Accounting in Action
    1. Knowing the Numbers
    2. What Is Accounting?
    3. The Building Blocks of Accounting
    4. The Basic Accounting Equation
    5. Using the Accounting Equation
    6. Financial Statements
    7. APPENDIX 1A: Accounting Career Opportunities
    8. A Look at IFRS
  17. Chapter 2: The Recording Process
    1. Accidents Happen
    2. The Account
    3. Steps in the Recording Process
    4. The Recording Process Illustrated
    5. The Trial Balance
    6. A Look at IFRS
  18. Chapter 3: Adjusting the Accounts
    1. What Was Your Profit?
    2. Timing Issues
    3. The Basics of Adjusting Entries
    4. The Adjusted Trial Balance and Financial Statements
    5. APPENDIX 3A: Alternative Treatment of Prepaid Expenses and Unearned Revenues
    6. APPENDIX 3B: Concepts in Action
    7. A Look at IFRS
  19. Chapter 4: Completing the Accounting Cycle
    1. Everyone Likes to Win
    2. Using a Worksheet
    3. Closing the Books
    4. Summary of the Accounting Cycle
    5. The Classified Balance Sheet
    6. APPENDIX 4A: Reversing Entries
    7. A Look at IFRS
  20. Chapter 5: Accounting for Merchandising Operations
    1. Who Doesn't Shop at Wal-Mart?
    2. Merchandising Operations
    3. Recording Purchases of Merchandise
    4. Recording Sales of Merchandise
    5. Completing the Accounting Cycle
    6. Forms of Financial Statements
    7. APPENDIX 5A: Periodic Inventory System
    8. APPENDIX 5B: Worksheet for a Merchandising Company
    9. A Look at IFRS
  21. Chapter 6: Inventories
    1. “Where Is That Spare Bulldozer Blade?”
    2. Classifying Inventory
    3. Determining Inventory Quantities
    4. Inventory Costing
    5. Inventory Errors
    6. Statement Presentation and Analysis
    7. APPENDIX 6A: Inventory Cost Flow Methods in Perpetual Inventory Systems
    8. APPENDIX 6B: Estimating Inventories
    9. A Look at IFRS
  22. Chapter 7: Fraud, Internal Control, and Cash
    1. Minding the Money in Moose Jaw
    2. Fraud and Internal Control
    3. Cash Controls
    4. Control Features: Use of a Bank
    5. Reporting Cash
    6. A Look at IFRS
  23. Chapter 8: Accounting for Receivables
    1. A Dose of Careful Management Keeps Receivables Healthy
    2. Types of Receivables
    3. Accounts Receivable
    4. Notes Receivable
    5. Statement Presentation and Analysis
    6. A Look at IFRS
  24. Chapter 9: Plant Assets, Natural Resources, and Intangible Assets
    1. How Much for a Ride to the Beach?
    2. Plant Assets
    3. Natural Resources
    4. Intangible Assets
    5. Statement Presentation and Analysis
    6. APPENDIX 9A: Exchange of Plant Assets
    7. A Look at IFRS
  25. Chapter 10: Liabilities
    1. Financing His Dreams
    2. Current Liabilities
    3. Long-Term Liabilities
    4. APPENDIX 10A: Present Value Concepts Related to Bond Pricing
    5. APPENDIX 10B: Effective-Interest Method of Bond Amortization
    6. APPENDIX 10C: Straight-Line Amortization
    7. A Look at IFRS
  26. Chapter 11: Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings
    1. What's Cooking?
    2. The Corporate Form of Organization
    3. Accounting for Stock Transactions
    4. Dividends
    5. Retained Earnings
    6. Statement Presentation and Analysis
    7. APPENDIX 11A: Stockholders’ Equity Statement
    8. APPENDIX 11B: Book Value—Another Per Share Amount
    9. A Look at IFRS
  27. Chapter 12: Investments
    1. “Is There Anything Else We Can Buy?”
    2. Why Corporations Invest
    3. Accounting for Debt Investments
    4. Accounting for Stock Investments
    5. Valuing and Reporting Investments
    6. APPENDIX 12A: Preparing Consolidated Financial Statements
    7. A Look at IFRS
  28. Chapter 13: Statement of Cash Flows
    1. Got Cash?
    2. Statement of Cash Flows: Usefulness and Format
    3. Preparing the Statement of Cash Flows—Indirect Method
    4. Using Cash Flows to Evaluate a Company
    5. APPENDIX 13A: Using a Worksheet to Prepare the Statement of Cash Flows—Indirect Method
    6. APPENDIX 13B: Statement of Cash Flows—Direct Method
    7. APPENDIX 13C: Statement of Cash Flows—T-Account Approach
    8. A Look at IFRS
  29. Chapter 14: Financial Statement Analysis
    1. It Pays to Be Patient
    2. Basics of Financial Statement Analysis
    3. Horizontal Analysis
    4. Vertical Analysis
    5. Ratio Analysis
    6. Earning Power and Irregular Items
    7. Quality of Earnings
    8. A Look at IFRS
  30. Chapter 15: Managerial Accounting
    1. Just Add Water … and Paddle
    2. Managerial Accounting Basics
    3. Managerial Cost Concepts
    4. Manufacturing Costs in Financial Statements
    5. Managerial Accounting Today
  31. Chapter 16: Job Order Costing
    1. She Succeeds Where Others Have Failed
    2. Cost Accounting Systems
    3. Job Order Cost Flow
    4. Reporting Job Cost Data
  32. Chapter 17: Process Costing
    1. Ben & Jerry's Tracks Its Mix-Ups
    2. The Nature of Process Cost Systems
    3. Equivalent Units
    4. Production Cost Report
    5. APPENDIX 17A: FIFO Method
  33. Chapter 18: Activity-Based Costing
    1. Precor Is on Your Side
    2. Traditional Costing and Activity-Based Costing
    3. Example of ABC versus Traditional Costing
    4. Activity-Based Costing: A Closer Look
    5. Activity-Based Costing in Service Industries
    6. APPENDIX 18A: Just-in-Time Processing
  34. Chapter 19: Cost-Volume-Profit
    1. Don't Worry—Just Get Big
    2. Cost Behavior Analysis
    3. Cost-Volume-Profit Analysis
  35. Chapter 20: Cost-Volume-Profit Analysis: Additional Issues
    1. Rapid Replay
    2. Cost-Volume-Profit (CVP) Review
    3. Sales Mix
    4. Cost Structure and Operating Leverage
    5. APPENDIX 20A: Absorption Costing versus Variable Costing
  36. Chapter 21: Incremental Analysis
    1. Make It or Buy It?
    2. Management's Decision-Making Process
    3. Types of Incremental Analysis
    4. Other Considerations in Decision-Making
  37. Chapter 22: Pricing
    1. They've Got Your Size—and Color
    2. Pricing Goods for External Sales
    3. Pricing Services
    4. Transfer Pricing for Internal Sales
    5. Transfers Between Divisions in Different Countries
    6. APPENDIX 22A: Other Cost Approaches to Pricing
  38. Chapter 23: Budgetary Planning
    1. Was This the Next Amazon.com? Not Quite
    2. Budgeting Basics
    3. Preparing the Operating Budgets
    4. Preparing the Financial Budgets
    5. Budgeting in Nonmanufacturing Companies
  39. Chapter 24: Budgetary Control and Responsibility Accounting
    1. Turning Trash Into Treasure
    2. Budgetary Control
    3. Static Budget Reports
    4. Flexible Budgets
    5. Responsibility Accounting
    6. Types of Responsibility Centers
    7. APPENDIX 24A: Residual Income—Another Performance Measurement
  40. Chapter 25: Standard Costs and Balanced Scorecard
    1. 80,000 Different Caffeinated Combinations
    2. The Need for Standards
    3. Setting Standard Costs
    4. Analyzing and Reporting Variances from Standards
    5. Balanced Scorecard
    6. APPENDIX 25A: Standard Cost Accounting System
    7. APPENDIX 25B: A Closer Look at Overhead Variances
  41. Chapter 26: Planning for Capital Investments
    1. Floating Hotels
    2. The Capital Budgeting Evaluation Process
    3. Cash Payback
    4. Net Present Value Method
    5. Additional Considerations
    6. Other Capital Budgeting Techniques
  42. Appendix A: Specimen Financial Statements: PepsiCo, Inc.
  43. Appendix B: Specimen Financial Statements: The Coca-Cola Company
  44. Appendix C: Specimen Financial Statements: Zetar plc
  45. Appendix D: Time Value of Money
    1. Nature of Interest
    2. Future Value Concepts
    3. Present Value Concepts
    4. Using Financial Calculators
  46. Appendix E: Payroll Accounting
    1. Accounting for Payroll
    2. Employer Payroll Taxes
    3. Internal Control for Payroll
  47. Appendix F: Subsidiary Ledgers and Special Journals
    1. Expanding the Ledger—Subsidiary Ledgers
    2. Expanding the Journal—Special Journals
  48. Appendix G: Other Significant Liabilities
    1. Contingent Liabilities
    2. Lease Liabilities
    3. Additional Liabilities for Employee Fringe Benefits
  49. Appendix H: Standards of Ethical Conduct for Management Accountants
    1. IMA Statement of Ethical Professional Practice
    2. Cases for Management Decision-Making
  50. Photo Credits
  51. Company Index
  52. Subject Index

Product information

  • Title: Financial and Managerial Accounting
  • Author(s): Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
  • Release date: December 2011
  • Publisher(s): Wiley
  • ISBN: 9781118004234