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The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers 3/E, 3rd Edition

Name: The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers 3/E, 3rd Edition
ISBN: 9780071759472

by H. George Shoffner, Susan Shelly, Robert Cooke

January 2011

Beginner

368 pages

9h 33m

English

McGraw-Hill

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Cover Page
Title Page
Copyright Page
Contents
Preface
1 Numbers, Numbers, Numbers: The Why and The How
Statistics and Numbers That Confound UsScores: Numbers We EnjoySimplicity Makes It EasierGoing into Business (Our Novel)Basic Concept (Cash Accounting and Accrual Accounting)Report Version 1Report Version 2When to Use and Not Use Cash AccountingA Few Basic TermsFinancial Statements and ReportsGenerally Accepted Accounting Principles (GAAP)A Move to Replace GAAP with International AccountingWho Makes the Rules? Who Defines GAAP?SummaryReview QuestionsCase Study Question
2. Keeping Score: Sales
What Is a Sale?Types of SalesCash SaleCredit Sale (Sale on Account)Consignment (Sale?)Secured SaleFloor Plan SaleSale of ServicesLong-Term ContractsReduction of SalesBad DebtsSales ReturnsSales AllowancesWarrantiesCash Discounts (Also Called Sales Discounts)ReportsHow to Fudge the Sales FiguresSummaryReview QuestionsCase Study Question
3. Keeping Score: Cost of Sales
Cost of Goods SoldInventoryInventory Value (FIFO/LIFO)Inventory Value (Average Cost)Lower of Cost or MarketFreight on PurchasesDiscounts on Goods PurchasedTrade DiscountVolume DiscountPurchase DiscountCost of ServicesHow to Fake a Reduction in Cost of Goods SoldSummaryReview QuestionsCase Study Question
4. Keeping Score: Expenses
Expenses: What Are They? How Are They Reported?Expense Classification, in GeneralAlphabetical or Size OrderDetailed, by Department or DivisionFine-Tuning a Departmentalized ReportControllable and Uncontrollable ExpensesSummary Reports (Just the Essentials)Variable and Fixed Expenses, Breakeven PointContribution MarginDirect and Indirect ExpensesSummaryReview QuestionsCase Study Question
5. Equipment and Other Things That WillBeAround for Years
Depreciation: How Much Does It Cost to Have the Stuff Around?Which Way to Compute Depreciation?Straight-Line Depreciation200 Percent (or Double) Declining Balance Depreciation150 Percent Declining Balance DepreciationOther Declining Balance MethodsSum-of-the-Years Digit MethodUnits of Production DepreciationGroup DepreciationTax Depreciation vs. Financial DepreciationSmall Bits and Pieces of EquipmentReserve for DepreciationWhen the Equipment Is Sold, Lost, Junked, or StolenTrade-InsRepair or Refurbishment of EquipmentIntangibles (Profit-Making Things That Aren’t There)SummaryReview QuestionsCase Study Question

6. Buying, Leasing, or Doing Without
Justifying the Purchase of EquipmentPayback MethodTime Value of MoneyTime Value of Money ComputationsPresent Value Method of Evaluating Investment in EquipmentInternal Rate of ReturnRepair or ReplaceLeasing: Painless (?) PurchasingA Word on Income Tax Lease RulesA Budgeting Communication ProblemSummaryReview QuestionsCase Study Question
7. The Balance Sheet
What’s a Balance Sheet? What Does It Mean?AssetsCashAccounts ReceivableInventoryPrepaid ExpensesProperty and EquipmentIntangible AssetsOther AssetsThe Current ConceptLiabilitiesBorrowing from the Bank (or Uncle Harry)Financing by Suppliers (Accounts Payable)Accrued ExpensesDeferred IncomeIncome Taxes Payable and DeferredWorking CapitalNotes to the Financial StatementsEquity—The “Balance” PartSummaryReview QuestionsCase Study Question
8. Ownership and Equity
Makea Killing in Equity?Building EquityStatement of Change in Owner’s EquityEquity in a PartnershipLimited Liability Company (LLC)Corporate EquityWhy Have Corporations?The Board of DirectorsStarting a Corporation and Issuing Shares of StockThe Equity Section of the Corporate Balance SheetUsing Stock and Stock Options as a Medium of ExchangeDilution of a Stockholder’s InterestVariations in Common StockValuation of Common StockPublicly Traded StockPrivately Held StockBook Value of Common StockTypes of CorporationsSummaryReview QuestionsCase Study Question
9. Budgeting/Planning
What Is Budgeting?Keeping ScoreThe Starting PointThe Spouse House Company PlanLong-Range PlanShort-Range PlanResulting Sales BudgetCost of Goods Sold BudgetExpense BudgetSelling Expense BudgetWarehouse Expense BudgetGeneral and Administrative Expense BudgetBudget SummaryZero-Based BudgetingSummaryReview QuestionsCase Study Question
10. Budget Reporting and More Budgets
WarningBudget ReportsReports, Reports, and More ReportsFlexible BudgetsCash BudgetRevising the Cash BudgetOther BudgetsLet the Accountants Worry with the Budget?Obligation of Budgeted AmountsTransaction StepsSummaryReview QuestionsCase Study Question
11. Manufacturing and Construction
Cost of a Manufactured Spouse HouseCosts/Expenses—Which Went Where?Inventories and Fluctuating CostsUnit CostsStandard CostsVariations in Standard Costs and BudgetsSegregation of Variable and Fixed Factory Overhead CostsAllocation of Over head by Labor HoursControllable and Uncontrollable CostsOther Methods and SystemsProcess Costs/Job CostsProcess CostsJob CostsWork-in-Process InventoryThe Contracting BusinessCompleted-Contract Method of Computing IncomePercentage-of-Completion Method of Computing IncomeGovernment ContractsSummaryReview QuestionsCase Study Question
12. Analysis of an Enterprise
The Income StatementThe Balance SheetRetained Earnings StatementRatiosCurrent RatioQuick RatioInventory TurnoverAccounts Receivable TurnoverDays of ReceivablesInterest CoverageDebt-to-Equity RatioReturn on AssetsReturn on EquityProfit MarginEarnings per SharePrice-to-Earnings RatioCash Flow StatementNotestothe Financial StatementsAlternative Ratios and Other Financial Tools Popularized in the 1990sEarnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)Price-to-Future-Earnings RatioPro Forma Financial StatementsCan You Trust the Financial Statements?SummaryReview QuestionsCase Study Question
Special Topic: What Do Auditors Do—Or Should They Do?
“Auditor”or“Accountant?”Types of AuditorsIndependent AuditorsInternal AuditorsHow Auditors AuditSamplingThird-Party ConfirmationsExamination of Internal ControlFinancial RatiosProfessional JudgmentUnintentional ErrorsIntentional Errors (Fraud)The Results of an AuditAuditors’ Opinion Reports That Are Less Than PureWhen Audits Fail to Find FaultsAuditors Have Conflicts of InterestFailure of Management’s Role in the Audit ProcessThe Emerging Solution: More Government Control!Changes to the SECChanges Required of Publicly Held CorporationsChanges to CPA Firms That Audit Publicly Held CorporationsLess Hanky-Panky in the Boardroom?
Appendix A Flexible Budget Computations
Appendix B Sources of Industry Averages
Appendix C Sources of Information on Publicly Held Corporations
Appendix D Dates Pertinent to Dividends on Publicly Held Stock
Appendix E Classes of Common Stock and Preferred Stock
Appendix F Goodwill
Appendix G Nonprofit Organizations
Answer Key to Review Questions and Case Studies
Glossary
Index
Foot Notes
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appendix_e-288
appendix_f-291

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The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers 3/E, 3rd Edition

by H. George Shoffner, Susan Shelly, Robert Cooke

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