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Financial Accounting Index

Financial Accounting Index

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Published by Nadiya Khattak

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Published by: Nadiya Khattak on Sep 12, 2012
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01/26/2014

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Index
A
Abercrombie& Fitch. 242.395Acceleratedepreciation,64-165Accountingassumptionsgoing-concernssumption,3monetary-unitssumption,2separate-entityssumption,2time-periodassumption, 3Accountingconstraints, 3Accountingcycledefined,580example,592-600step 1(recordingournalentries),580-583step2(postingournalentries ogeneralledger),83step3(trialbalance), 83step4(adjustingournalentries),583-586step5(adjustedrialbalance), 86-587step6(financialstatements),87-588step7(closingentries),589-591step8(postclosingrial balance),91steps,isted,80Accountingquation, 4,18,59Accountingnformationcomparability,1-52consistency,2relevance,5lreliability,51users,66-67Accountingobs,534Accountingperiods,65-66Accountingprinciplesfull-disclosure rinciple,58historical-costrinciple,53matchingprincrple,62revenue-recognitionrinciple,62Accountingscandals,, 28, 53U531Accountingsoftware,125Accountspayable,54,120Accountseceivable,6, 101,, 86accounts eceivablemethod. 288190.293agingschedule, 88,289allowancemethod,288-294balanceheetresentation,90controls,303-304defined,286directwrite-off method,293-294estimatingad debt expense,88-293exampleTom'sWear),29'l-300extendingcredit,286managing,287percentagef salesmethod,288,293ratio analysis,301-302recordinguncollectibleaccounts,286-287writingoff specificaccount,290-291Accounts eqeivablemethod,288-290, 293Accounts eceivable urnoveratio,482,487Accounts eceivableAR)turnoveratio,301-302Accrual accountingnformation,66-67Accrual basisaccountin,63-65Accruals,78adjustmentso accounting ecords,113-118defined,99example, 120-122financial tatements.nd.113-118interestexpense/revenue,00-102otherevenues/expenses,02-104Accrued xpenses,01 122,584-585Accrued iabilities, 101Accrued evenue,84Accumulated amorttzatlon, | 67Accumulated epreciation,,1I, l2, 120,t22Acid-test atio, 123, 482, 487Acquiring merchandiseor sale,210-215Acquisitionost,159Activity methoddepreciation,62-163Additionalpaid-incapital,386Adelphia, ,28,98Adjunct iability, 344Adjusted rialbalance, 86-587Adjustingournalentries,583-586Adjusting he books,56Aging method, 88Agingschedule,88, 289Akst.Daniel.154Allowance or obsolescence,38Allowance oruncollectibleaccounts,286-291Allowancemethod.286. 288-294 Amazon.com,481Amortizationbonds, 44-348defined,58intangible ssets, 67-169Amortization schedule, 46, 347Analysisof businessransactions,4-59,67-70Analysisoftransactions,4-59,677 0Annuity, 378Apple Computers, 23AR turnover atio, 3Ol-302Arthur Andersen, 8AsYouSow,122Asset mpairment,169-17Asset urnover atio, 179-180,483Assets. 4.59Assumptions.eeAccountingassumptionsAudit opinion,25Auditors, 533Authorizedshares,84AtttoZone,438,439AutomaticData ProcessingADP),334Available-for-saleecurities. 24
B
BAAN,593Bad debtsexpense, 86Seea/soAccountsreceivableBalance heet, 4-18accounts ecel able, 290analysisof transactions, 6, 17classified,1comparative, 6elements, 7-61incomestatement, ontrasted,9liabilities, 33long-term ssets, 73-174sample,0,73,333shareholders' quity,385, 395BankOne,490Bank reconciliatton,79-284Bank statement. 79. 284Bames& Noble,223,247Basicearningsershare,02Basketurchase,56-158Beginningnventory enorc,274-27 5Berenson,Alex,526Berstein.ichard.482BestBuy, 106,l2,173,207,222Black&Decker,332Bloomingdale's,10Board of directors,533Bond,339-348amortization,44-348defined. 39gettinghe money(issuingbonds),341-344issuedatdiscount,342-343issuedatpar,342issuedatpremium,343-344payinghe bondholders,44types, 41whyused,339-340Bond certificate,339Bond covenants,40Bonds ssuedat a discount,340,342-343Bonds ssuedat apremium,340,343-344Bonds ssuedatpar,340, 342Book value.112.159Bookkeeping,76Books,18BordersGroup,51Bottom ine, 66BrocadeCommunicationsystems, 84Budgeted ash lows, 428Business. ow t works.9Business escription,
627
 
628 INDEX
Business ailures,530-531 SeealsoAccountingscandalsBusinesslan,5,485Businessisk,27Businesscandals,,28, 530-53IBusiness ransactions,, 54-59, 671 0
c
Callablebond, 341Callablepreferredstock,388Capital,2,6lCapitalexpenditure, 70Capital ease,157Capital stock,386Capital structure,52Capitalize,158Capitalized eases, 57Capitalizingetainedearnings, 95Car oan,335CarnivalCorp.,473474Canyingvalue,112,159,343Cash.77.428Cashandcashequivalents, 85Cashbasisaccounting,5Cashbudget,428Cashbudgeting, 1Cashconversionycle,440Cashdividends,88-391Cashequivalents, 85Cash lowprojection,71Cash lowstatement.Seetatement fcashflowsCash rom financingactivities,21Cash rom investingactivities,21Cash rom operatingactivities,21Cash nflows/outflows,22Cashmanagement,2TSbankeconciliation,279 284bank statement279. 284cashequivalents, 85cash lowstatement. eeStatement fcash lowscontrols.278-279. 303-304crediVdebitmemos,284physicalcontrols,2'7-279, 303reportingcash,285Caterpillar,223CertifiedpublicaccountantCPA),13CharlesSchwab,7Chico's, 22,241,242Circuit City, 120,2lClassifiedbalanceheet, lClearassignmentfresponsibility,03Cleveland-Cliffs,166Closed, 89Closingntries, 89-591Closelyheld corporation,Commonstock,385-387Comparability,1-52Comparativealance heets, 6Compoundnterest,376, 377Comprehensivencome,521-522ComputerAssociates, 8, 50, 76Computerizedccounting ystems, 25Computron,T5Conservatism,3Consistency,2Constraints,3Contingent iabilities,332Contra-asset,11Contraliabilitvaccount.343Contra-revenue,17Contributed aprtal,9, 61,384Contribution,9Controlsclear assignment fresponsibility, 03defrned,29documentationrocedures,03errors n recording transactions,124-125financial statements, 5-76independentnternalverificationof data,304invento_1yonfols,242-243long-tbrmassets, 80long-termdebt,354Ioss/destruction fdata,125monitoring,180physicalcontrols,180stockownership,489490stockholders' quity,402-403unauthorizedccess, 25Convertible ond, 341Cookinghebooks, ,528. SeelsoEarningsmanipulationCooper,Cynthia,526Copyright, 67-168,80Copyrightof infringement,180Corporateonds,347Corporateilings, 24Corporateovernance,76, 530-536"CorporateSocialandFinancialPerformanceMeta-Analysis,"122Corporateocialperformance, 22Corrective ontrols,76Cost ofgoodsavailableor sale,215,274Costofgoodssold,274Costco,10CPA,13Credit,578Crediting,579Credit card sales,94Creditmemo,284Creditpolicies,87Credit erms, 14Cumulativeprefenedstock,390Currentassets, 9Currentratio, 74, 482, 487Curves, 68Cutoffssues, 5-66
D
DardenRestaurants.'7. 152Date ofrecord,389-390Debenture,41Debit,578Debit-credit ules, 579-580Debit memo, 284Debiting, 579Debt. leeLiabilitiesDebrto-equityratio,352, 482,487Declining balance epreciation,64-165Deferrals,104-113,578adjustmentso accountingecords,113-118defined,99depreciation, 1-1 13equipment, 10example, 120-122expenses, 07-lI3financialstatements,nd,I13-1 I 8giftcertificates,05-106insurance,07-108magazine ubscriptions, 05rent,108-109revenue,105-106supplies, 09-10unearnedevenue,105Deferredexpenses, 86Deferred evenue.105.585-586Defrnitely determinableiabilities, 332Dell,7,24)6,393DelI. Michael. TDepartment,12Depletion,158, 166-167Deposit n transit,280,282Depreciablease,159Depreciating n asset,111Depreciationaccelerated,164-165activitymethod, 62-1 3decliningbalance,164-165defined,158double-decliningalance,165MACRS,208straight-line,159162taxes,and,208terminology,159Depreciation xpense,1-l 13Destructionof accountingdata,125 Detective ontrols,T6Diluted earningsershare,02Direct method,429430,432434, 437Direct write-off method,293-294Disclosure. lee Notes o financial statementsDiscountpurchase,14-215sales,217-21.8Discounton bondspayable,343Discount ate,336Discounting, 36DisneyCorporation, 8Diversification,403, 489490Dividend.9.582cash, 88-391defined,388stock,394-395Dividend declarationate,389Dividendpaymentdate,390Dividendieldatio,481,483,488 Documentationrocedures,03Dollar Tree Stores, 02Double-declining alance epreciation, 65DVDsales,241
E
Earnedcapital,396Earnings, 76Earningsmanipulationbig bath charges,28cookiearreserves, 28-529revenue ecognition,529-530EarningspershareEPS),401-402,483,487,526Earnings estatement, 76Ebbers,Bemard,2, 28, 154EBITDA,489Effective nterestmethod344-347Eichenwald,Kurt,332Employee heft, 2IO, 219Endingnventoryenorc,274Enron,2,28,354,441,526Enterprise esourcelanningERP)system,576,593
 
Entrepreneur,9EPS,401-402,483,487,526Equipment,110,210Equity,6lERPsystem,76,593Errors nrecordingfansactions, 24-125Estimatediabilittes,332Estimatedseful ife.159EthicsPoint,526Ex-dividend,390Expenses,0Extemalauditors,533
F
Factor,287Factoing,287FannieMae,107FASB,12Fastow,Andrew,28FiduciaryTrustnternational,125FinancialAccountingStandards oard(FASB),12Financialadvisor,489Financialanalyst,489Financial everage,352Financialmanagementlan,5Financialatios.SeeRatio analysisFinancialisks, 27Financialcandals,,28,530-531Financialservicesompanies,Financialstatementnalysis,479486continuedusefulness, 85-486horizontalanalysis,79480how used,485ratio analysis.Seeatio analysisvertical nalysis,80,481Financialstatementsaccountingycle,587-588balanceheet.SeeBalancesheetexample,67-70incomestatement.Seencomestatementinterimstatements,6notes.SeeNotes ofrnancialstatementsobjectives,0-72relationshipetween,23statementf cashlows. ,See tatementfcashlowsstatementf changesn shareholders'equity,20typeof informationprovided,67-70Financingctivities,,21, 429First-in,lrst-out(FIFO),223, 231Fiscalear,15Fisher.Ken.241FisherCommunications.26Fixedassets.eeLongtermoperational ssetsFOBdestination,13FOBshippingpoint,213Footnotes,4.25.Seealso Notes ofinancialstatementsFor-profitfrrm,3Forecasts,85Formsofbusinessrganization.SeeOwnershipstructureFranchise,168Freecash low,440Freightosts, 12113,218Friedman,ane.180Full-disclosure rinciple,58Fuzzyearningsumbers.SeeEarningsmanipulation
G
GAAP.12.50Gap, nc.,242,272273GeneralElectric, 389Generalournal,576General edger,577General edgeraccounting ystem,576-578General edgersystem, 76Generalstrategic isks, 27Generallyaccepted ccountingrinciples(GAAP),12,s0Gift certificates,105-106Going-concern ssumption, 3Goodwill,168-169Google, 80Governance-Metricsntemational,535Grossmargin on sales, 4Grossprofiratio, 238-241, 483,487Grossprofitsmethodof estimatingendinginventory,276Grundfest, oseph,476
H
HCA,534HealthSouth,2Heldto-maturity securities, 23Hersheyoods,78, 285,288,301, 425426Historical-costrinciple,53Holdinggainor loss,523,524Home Depot, 60, 74,332-335,354Horizontalanalysis, 79480Hostile akeover,88HurricaneKatrrna,478
I
rBM,168,216Impairment,169-170Improvementrojects,170Income tatement, 8-19balance heet. ontrasted. 9comprehensivencome, 521 522defrned, 8discontinued perations, 76479extraordinary rtems,47747 9 timeperiods,65-66Income axes. See axesIndependentnternalverificationof data,304Indirect method,429430, 435436, 438Informationisks, 27Inputandprocessingontrols,124InstitutionalShareholder ervices,35Insull Utility,530Insurance, 07-108Intangibleassetsamortizatron, 167copyright, 167-168defined,155franchise,168goodwill,168-169patent,68R&D costs, 69risks,180trademark,168lntel.222.328-329lnterestcompound,376defined,10formula, 101simple,376Interestexoense. 00
629
Interestpayable,100Interest eceivable, 01Internalcontrols,75. SeealsoControlsInternalRevenueServiceIRS),13International PaperCompany,334Internet, trading stock,7Intuit Inc., 620Inventory,209-276acquiringmerchandiseorsale,210-215controls,242-243cost low assumptions.ee nventorycostflow assumptionsethics,243freightcosts,t2-213, 218grossprofitsmethodof estimatingendinginventory,276LCM rule, 238obsolescence,38,243over/understatement,74-275periodicnventorysystem, 12, 219-220perpetualnventorysystem,12, 219-220purchaseiscounts,14-215purchaseeturnsandallowances, 14ratio analysis,38-242risks,243salesdiscounts,17-218sales eturnsandallowances, 17sales axes,218-219sellingmerchanise,216-279shipping costs,272-213,218shrinkage, 10,219Inventorycontrols,242-243Inventorycost low assumptions,20-238example(Tom'sWear), 233-238FLFO,223,231financial statements.nd,226-230howmethodchosen, 32industryusage, 30LLFO.223-225.231methods, ompared,225specific dentificationmethod,221taxes.231..233weightedaverageost,221-222Inventory enors, 274-275Inventoryobsolescence,38, 243Inventoryshrinkage, I0, 21,9Inventory urnover atio,241-242, 482, 487Investingactivities,9,21, 429Investmentsn securitiesavailable-for-saleecurities,24held-to-maturityecurities,23selling he securities,24trading securitis,523-524IRS,13Issuedshares,84
J
J.D.Edwards,93I&J SnackFoodsCorp.,484-488JetBlue,8Journal,576Journalentriesposting,83recording,580-583Junkbond,341
K
Kelly, Kevin, 180Kozlowski,Dennis,28, 332Kroger,219,24lKumar,Sanjay,28,50INDEX

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