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Learn not just what the accounting rules are, but why they exist. Students study the financial statements and the standards behind them, starting with how accounting standards developed and how international and U.S. standard setters compare. They then work through revenue recognition, inventory, operating assets, debt and equity financing, investments, and leases, along with more advanced topics such as income taxes, pensions, earnings per share, derivatives, and contingencies. Earnings management, accounting changes, error corrections, and financial statement analysis round out the picture. With accounting changing quickly, students come away able to apply existing rules and understand the underlying concepts as the rules evolve.
Chapter 1: Financial Reporting Chapter 2: A Review of the Accounting Cycle Chapter 3: The Balance Sheet and Notes to the Financial Statements Chapter 4: The Income Statement Chapter 5: Statement of Cash Flows and Articulation Chapter 6: Earnings Management Chapter 7: The Revenue-Receivables-Cash Cycle Chapter 8: Revenue Recognition Chapter 9: Inventory and Cost of Goods Sold Chapter 10: Investments in Noncurrent Operating Assets—Acquisition Chapter 11: Investments in Noncurrent Operating Assets—Utilization and Retirement Chapter 12: Debt Financing Chapter 13: Equity Financing Chapter 14: Investments in Debt and Equity Chapter 15: Leases Chapter 16: Income Taxes Chapter 17: Employee Compensation—Payroll, Pensions, and Other Compensation Issues Chapter 18: Earnings per Share Chapter 19: Derivatives, Contingencies, Business Segments, and Interim Reports Chapter 20: Accounting Changes and Error Corrections Chapter 21: Statement of Cash Flows Revisited Chapter 22: Analysis of Financial Statements Module 1: Time Value of Money Review Module 2: Fair Value
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