Intermediate Accounting 15th edition

Intermediate Accounting 15th edition

Intermediate Accounting 15th editionIntermediate Accounting by Donald E. Kieso, Jerry J. Weygandt and Terry D. Warfield (Mar 11, 2013)

Book Description

Kieso, Weygandt and Warfield’s Intermediate Accounting continues to set the standard for intermediate accounting students and professionals in the field. The Fifteenth edition builds on this legacy through new innovative student focused pedagogy in the book itself and with online support.
Kieso maintains the qualities for which the text is globally recognized, including its reputation for accuracy, comprehensiveness, accessibility, and quality problem material that best prepares students for success on the CPA exam. The Fifteenth edition offers the most up to date coverage of IFRS and US GAAP in a presentational format suited to the complex challenges of teaching intermediate in these changing times.
The WileyPLUS homework and learning platform (access to WileyPLUS sold separately) is better than it has ever been for Kieso, with a multitude of new assessment items, multimedia resources, and enhanced functionality to ensure students will do real accounting and get real results. There have also never been so many options for accessing content, from several online only options, premium value print and digital formats, and custom versions designed to fit your needs perfectly.

What is new to 15th Edition?

- Time lapse between current and previous publications: 2 years (2013 vs 2011).
- End of Chapter Exercises have all been updated from the previous edition.
- Learning objectives have been added or updated to provide tighter alignment to the material covered in the chapter.
- Most chapters now have a new comprehensive Demonstration Problem with a worked out solution for students to test their understanding.
- New Evolving Issue boxes in most chapters to highlight areas that are under consideration for change by the accounting standards setting boards.

CONTENTS

Chapter 1 Financial Accounting and Accounting Standards 2
Chapter 2 Conceptual Framework for Financial Reporting 40
Chapter 3 The Accounting Information System 82
Chapter 4 Income Statement and Related Information 158
Chapter 5 Balance Sheet and Statement of Cash Flows 212
Chapter 6 Accounting and the Time Value of Money 286
Chapter 7 Cash and Receivables 344
Chapter 8 Valuation of Inventories: A Cost-Basis Approach 414
Chapter 9 Inventories: Additional Valuation Issues 472
Chapter 10 Acquisition and Disposition of Property, Plant, and Equipment 536
Chapter 11 Depreciation, Impairments, and Depletion 588
Chapter 12 Intangible Assets 648
Chapter 13 Current Liabilities and Contingencies 700
Chapter 14 Long-Term Liabilities 762
Chapter 15 StockholdersΓÇÖ Equity 820
Chapter 16 Dilutive Securities and Earnings per Share 882
Chapter 17 Investments 950
Chapter 18 Revenue Recognition 1040
Chapter 19 Accounting for Income Taxes 1116
Chapter 20 Accounting for Pensions and Postretirement Benefits 1182
Chapter 21 Accounting for Leases 1268
Chapter 22 Accounting Changes and Error Analysis 1342
Chapter 23 Statement of Cash Flows 1410
Chapter 24 Full Disclosure in Financial Reporting 1486


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DETAILED CONTENTS

Chapter 1 Financial Accounting and Accounting Standards
  We Can Do Better
  Financial Statements and Financial Reporting
  Accounting and Capital Allocation
  What Do the Numbers Mean? It's the Accounting
  Objective of Financial Reporting
  What Do the Numbers Mean? Don't Forget Stewardship
  The Need to Develop Standards
  Parties Involved in Standard-Setting
  Securities and Exchange Commission (SEC)
  American Institute of Certified Public
  Accountants (AICPA)
  Financial Accounting Standards Board (FASB)
  Generally Accepted Accounting Principles
  What Do the Numbers Mean? You Have to Step Back
    FASB Codification
  Issues in Financial Reporting
  GAAP in a Political Environment
  Evolving Issue Fair Value, Fair Consequences?
  The Expectations Gap
  Financial Reporting Challenges
  International Accounting Standards
  What Do the Numbers Mean? Can You Do That?
  Ethics in the Environment of Financial Accounting
  Conclusion
    FASB Codification
  IFRS Insights
Chapter 2 Conceptual Framework for Financial Reporting
  What Is It?
  Conceptual Framework
  Need for a Conceptual Framework
  What Do the Numbers Mean? What's Your Principle?
  Development of a Conceptual Framework
  Overview of the Conceptual Framework
  First Level: Basic Objective
  Second Level: Fundamental Concepts
  Qualitative Characteristics of Accounting Information
  What Do the Numbers Mean? Living in a Material World
  What Do the Numbers Mean? Show Me the Earnings!
  Basic Elements
  Third Level: Recognition and Measurement Concepts
  Basic Assumptions
  What Do the Numbers Mean? Whose Company Is It?
  Basic Principles of Accounting
  What Do the Numbers Mean? You May Need a Map
  Cost Constraint
  Summary of the Structure
    FASB Codification
  IFRS Insights

Chapter 3 The Accounting Information System
  Needed: A Reliable Information System
  Accounting Information System
  Basic Terminology
  Debits and Credits
  The Accounting Equation
  Financial Statements and Ownership Structure
  The Accounting Cycle
  Identifying and Recording Transactions and Other Events
  Journalizing
  Posting
  Trial Balance
  Adjusting Entries
  What Do the Numbers Mean? Am I Covered?
  Adjusted Trial Balance
  Preparing Financial Statements
 What Do the Numbers Mean? 24/7 Accounting Closing
  Post-Closing Trial Balance
 Reversing Entries-An Optional Step
  The Accounting Cycle Summarized
 What Do the Numbers Mean? Hey, It's Complicated
  Financial Statements for a Merchandising Company
  Income Statement
  Statement of Retained Earnings
  Balance Sheet
  What Do the Numbers Mean? Statements, Please
  Closing Entries
    Appendix 3a Cash-Basis Accounting versus Accrual-Basis Accounting
  Conversion from Cash Basis to Accrual Basis
  Service Revenue Computation
  Operating Expense Computation
  Theoretical Weaknesses of the Cash Basis
    Appendix 3B Using Reversing Entries
 Illustration of Reversing Entries-Accruals
  Illustration of Reversing
  Entries-Deferrals
  Summary of Reversing Entries
    Appendix 3C Using a Worksheet: The
    Accounting Cycle Revisited
  Worksheet Columns
  Trial Balance Columns
  Adjustments Columns
  Adjustments Entered on the Worksheet
  Adjusted Trial Balance
  Income Statement and Balance Sheet Columns
  Preparing Financial Statements from a Worksheet
  IFRS Insights

Chapter 4 Income Statement and Related Information Financial Statements Are Changing Income Statement Usefulness of the Income Statement Limitations of the Income Statement Quality of Earnings What Do the Numbers Mean? Four: The Loneliest Number Format of the Income Statement Elements of the Income Statement Intermediate Components of the Income Statement What Do the Numbers Mean? Top Line or Bottom Line? Condensed Income Statements Single-Step Income Statements Reporting Various Income Items What Do the Numbers Mean? Are One-Time Charges Bugging You? Unusual Gains and Losses Discontinued Operations Extraordinary Items What Do the Numbers Mean? Extraordinary Times Noncontrolling Interest Summary of Various Income Items Earnings per Share What Do the Numbers Mean? Different Income Concepts Other Reporting Issues Accounting Changes and Errors Retained Earnings Statement Comprehensive Income Evolving Issue Income Reporting FASB Codification IFRS Insights
Chapter 5 Balance Sheet and Statement of Cash Flows Hey, It Doesn't Balance! Balance Sheet Usefulness of the Balance Sheet Limitations of the Balance Sheet What Do the-Numbers Mean? Grounded Classification in the Balance Sheet What Do the Numbers Mean? "Show Me the Assets!" What Do the Numbers Mean? Warning Signals Balance Sheet Format Statement of Cash Flows What Do the Numbers Mean? Watch That Cash Flow Purpose of the Statement of Cash Flows Content and Format of the Statement of Cash Flows Overview of the Preparation of the Statement of Cash Flows Usefulness of the Statement of Cash Flows What Do the Numbers Mean? "There Ought to Be a Law" Additional Information Supplemental Disclosures What Do the Numbers Mean? What About Your Commitments? Techniques of Disclosure Evolving Issue Balance Sheet Reporting: Gross or Net? Appendix 5A Ratio Analysis-A Reference Using Ratios to Analyze Performance Appendix 5B Specimen Financial Statements: The Procter & Gamble Compan FASB Codification IFRS Insights
Chapter 6 Accounting and the Time Value of Money How Do I Measure That? Basic Time Value Concepts Applications of Time Value Concepts The Nature of Interest Simple Interest Compound Interest What Do the Numbers Mean? A Pretty Good Start Fundamental Variables Single-Sum Problems Future Value of a Single Sum Present Value of a Single Sum Solving for Other Unknowns in Single-Sum Problems Annuities Future Value of an Ordinary Annuity What Do the Numbers Mean? Don't Wait to Make That Contribution! Future Value of an Annuity Due Examples of Future Value of Annuity Problems Present Value of an Ordinary Annuity What Do the Numbers Mean? Up in Smoke Present Value of an Annuity Due Examples of Present Value of Annuity Problems More Complex Situations Deferred Annuities Valuation of Long-Term Bonds Effective-Interest Method of Amortization of Bond Discount or Premium Present Value Measurement Choosing an Appropriate Interest Rate What Do the Numbers Mean? How Low Can They Go? Example of Expected Cash Flow FASB Codification
Chapter 7 Cash and Receivables
 Please Release Me? Cash
  What Is Cash?
  Reporting Cash
  Summary of Cash-Related Items
 What Do the Numbers Mean? Luck of the Irish
  Accounts-Receivable
  Recognition of Accounts Receivable
  Valuation of Accounts Receivable
 What Do the Numbers Mean? I'm Still Waiting
  Notes Receivable
  Recognition of Notes Receivable
  Valuation of Notes Receivable
  What Do the Numbers Mean? Economic
  Consequences and Write-Offs
  Special Issues
  Fair Value Option
  Disposition of Accounts and Notes
  Receivable
  What Do the Numbers Mean? Return to Lender
  Presentation and Analysis
 Evolving Issue A Cure for "Too Little, Too Late"?
    Appendix 7A Cash Controls
  Using Bank Accounts
  The Imprest Petty Cash System
  Physical Protection of Cash Balances
  Reconciliation of Bank Balances
    Appendix 7B Impairments of Receivables
  Impairment Measurement and Reporting
  Impairment Loss Example
  Recording Impairment Losses
  What Do the Numbers Mean? Lost in Translation
    FASB Codification
  IFRS Insights

Chapter 8 Valuation of Inventories: A Cost-Basis Approach To Switch or Not to Switch Inventory Issues Classification Inventory Cost Flow Inventory Control What Do the Numbers Mean? Staying Lean Basic Issues in Inventory Valuation Physical Goods Included in Inventory Goods in Transit Consigned Goods Special Sales Agreements What Do the Numbers Mean? No Parking! Effect of Inventory Errors Costs Included in Inventory Product Costs Period Costs Treatment of Purchase Discounts What Do the Numbers Mean? You May Need a Map Which Cost Flow Assumption to Adopt? Specific Identification Average-Cost First-In, First-Out (FIFO) Last-In, First-Out (LIFO) Special Issues Related to LIFO LIFO Reserve What Do the Numbers Mean? Comparing Apples to Apples LIFO Liquidation Dollar-Value LIFO What Do the Numbers Mean? Quite a Difference Comparison of LIFO Approaches Major Advantages of LIFO Major Disadvantages of LIFO Basis for Selection of Inventory Method Evolving Issue Repeat LIFO! Inventory Valuation Methods-Summary Analysis FASB Codification
Chapter 9 Inventories: Additional Valuation Issues Not What It Seems to Be Lower-of-Cost-or-Market Ceiling and Floor How Lower-of-Cost-or-Market Works Methods of Applying Lower-of-Cost-or-Market Recording "Market" Instead of Cost Use of an Allowance Use of an Allowance-Multiple Periods What Do the Numbers Mean? "Put It in Reverse" Evaluation of the Lower-of-Cost-or-Market Rule Valuation Bases Valuation at Net Realizable Value Valuation Using Relative Sales Value Purchase Commitments-A Special Problem The Gross Profit Method of Estimating Inventory Computation of Gross Profit Percentage Evaluation of Gross Profit Method What Do the Numbers Mean? The Squeeze Retail Inventory Method Retail-Method Concepts Retail Inventory Method with Markups and Markdowns-Conventional Method Special Items Relating to Retail Method Evaluation of Retail Inventory Method Presentation and Analysis Presentation of Inventories Analysis of Inventories Appendix 9A LIFO Retail Methods Stable Prices-LIFO Retail Method Fluctuating Prices-Dollar-Value LIFO Retail Method Subsequent Adjustments Under Dollar-Value LIFO Retail Changing from Conventional Retail to LIFO FASB Codification IFRS Insights
Chapter 10 Acquisition and Disposition of Property, Plant, and Equipment Watch Your Spending Property, Plant, and Equipment Acquisition of Property, Plant, and Equipment Cost of Land Cost of Buildings Cost of Equipment Self-Constructed Assets Interest Costs During Construction What Do the Numbers Mean? What's in Your Interest? Observations Valuation of Property, Plant, and Equipment Cash Discounts Deferred-Payment Contracts Lump-Sum Purchases Issuance of Stock Exchanges of Nonmonetary Assets What Do the Numbers Mean? About Those Swaps Accounting for Contributions Other Asset Valuation Methods Costs Subsequent to Acquisition What Do the Numbers Mean? Disconnected Additions Improvements and Replacements Rearrangement and Reinstallation Repairs Summary of Costs Subsequent to Acquisition Disposition of Property, Plant, and Equipment Sale of Plant Assets Involuntary Conversion Miscellaneous Problems FASB Codification
Chapter 11 Depreciation, Impairments, and Depletion Here Come the Write-Offs Depreciation-A Method of Cost Allocation Factors Involved in the Depreciation Process What Do the Numbers Mean? Alphabet Dupe Methods of Depreciation Special Depreciation Methods What Do the Numbers Mean? Decelerating Depreciation Special Depreciation Issues What Do the Numbers Mean? Depreciation Choices Impairments Recognizing Impairments Measuring Impairments Restoration of-Impairment Loss Impairment of Assets to Be Disposed Of Depletion Establishing a Depletion Base Write-Off of Resource Cost Estimating Recoverable Reserves What Do the Numbers Mean? Reserve Surprise Liquidating Dividends Continuing Controversy Evolving Issue Full-Cost or Successful-Efforts? Presentation and Analysis Presentation of Property, Plant, Equipment, and Natural Resources Analysis of Property, Plant, and Equipment Appendix 11A Income Tax Depreciation Modified Accelerated Cost Recovery System Tax Lives (Recovery Periods) Tax Depreciation Methods Example of MACRS Optional Straight-Line Method Tax versus Book Depreciation FASB Codification IFRS Insights
Chapter 12 Intangible Assets
 Is This Sustainable?
  Intangible Asset Issues
  Characteristics
  Valuation
  Amortization of Intangibles
  What Do the Numbers Mean? Definitely Indefinite
  Types of Intangible Assets
  Marketing-Related Intangible Assets
 What Do the Numbers Mean? Keep Your Hands Off My Intangible!
  Customer-Related Intangible Assets
  Artistic-Related Intangible Assets
  Contract-Related Intangible Assets
  Technology-Related Intangible Assets
  What Do the Numbers Mean? Patent Battles
  What Do the Numbers Mean? The Value of a Secret Formula
  Goodwill
  Impairment of Intangible Assets
  Impairment of Limited-Life Intangibles
 Impairment of Indefinite-Life Intangibles
 Other Than Goodwill
  Impairment of Goodwill
  Impairment Summary
  What Do the Numbers Mean? Impairment Risk
  Research and Development Costs
  Identifying R&D Activities
  Accounting for R&D Activities
  Costs Similar to R&D Costs
 What Do the Numbers Mean? Branded
  Presentation of Intangibles and Related Items
  Presentation of Intangible Assets
 Presentation of Research and Development Costs
 Evolving Issue Recognition of R&D and
 Internally Generated Intangibles
    FASB Codification
  IFRS Insights

Chapter 13 Current Liabilities and Contingencies Now You See It, Now You Don't Current Liabilities Accounts Payable Notes Payable Current Maturities of Long-Term Debt Short-Term Obligations Expected to Be Refinanced What Do the Numbers Mean? What About That Short-Term Debt? Dividends Payable Customer Advances and Deposits Unearned Revenues What Do the Numbers Mean? Microsoft's Liabilities-Good or Bad? Sales Taxes Payable Income Taxes Payable Employee-Related Liabilities Contingencies Gain Contingencies Loss Contingencies What Do the Numbers Mean? Frequent Flyers What Do the Numbers Mean? More Disclosure, Please Presentation and Analysis Presentation of Current Liabilities Presentation of Contingencies Analysis of Current Liabilities Evolving Issue Greenhouse Gases: Let's Be Standard-Setters FASB Codification IFRS Insights
Chapter 14 Long-Term Liabilities Going Long Bonds Payable Issuing Bonds Types of Bonds What Do the Numbers Mean? All About Bonds Valuation of Bonds Payable-Discount and Premium What Do the Numbers Mean? How's My Rating? Bonds Issued at Par on Interest Date Bonds Issued at Discount or Premium on Interest Date Bonds Issued Between Interest Dates Effective-Interest Method Costs of Issuing Bonds Extinguishment of Debt What Do the Numbers Mean? Your Debt Is Killing My Equity Long-Term Notes Payable Notes Issued at Face Value Notes Not Issued at Face Value Special Notes Payable Situations Mortgage Notes Payable Fair Value Option Reporting and Analyzing Liabilities Off-Balance-Sheet Financing What Do the Numbers Mean? Obligated Presentation and Analysis of Long-Term Debt Evolving Issue Fair Value of Liabilities: Pick a Number, Any Number Appendix 14A Troubled-Debt Restructurings Settlement of Debt Transfer of Assets Granting of Equity Interest Modification of Terms Example 1-No Gain for Debtor Example 2-Gain for Debtor Concluding Remarks FASB Codification IFRS Insights
Chapter 15 Stockholders' Equity It's a Global Market The Corporate Form of Organization State Corporate Law What Do the Numbers Mean? 1209 North Orange Street Capital Stock or Share System Variety of Ownership Interests Corporate Capital Issuance of Stock What Do the Numbers Mean? The Case of the Disappearing Receivable Reacquisition of Shares What Do the Numbers Mean? Buybacks-Good or Bad? Preferred Stock Features of Preferred Stock What Do the Numbers Mean? A Class (B) Act. Accounting for and Reporting Preferred Stock Dividend Policy Financial Condition and Dividend Distributions Types of Dividends Stock Dividends and Stock Splits What Do the Numbers Mean? Splitsville What Do the Numbers Mean? Dividends Up, Dividends Down Disclosure of Restrictions on Retained Earnings Presentation and Analysis of Stockholders' Equity Presentation Analysis Appendix 15A Dividend Preferences and Book Value per Share Dividend Preferences Book Value per Share FASB Codification IFRS Insights
Chapter 16 Dilutive Securities and Earnings per Share Kicking the Habit Dilutive Securities Debt and Equity Accounting for Convertible Debt Convertible Preferred Stock What Do the Numbers Mean? How Low Can You Go? Stock Warrants Evolving Issue Is That All Debt? Accounting for Stock Compensation Stock-Option Plans Restricted Stock Employee Stock-Purchase Plans Disclosure of Compensation Plans Debate over Stock-Option Accounting What Do the Numbers Mean? A Little Honesty Goes a Long Way Computing Earnings per Share Earnings per Share-Simple Capital Structure Earnings per Share-Complex Capital Structure What Do the Numbers Mean? Pro Forma EPS Confusion Appendix 16A Accounting for Stock-Appreciation Rights SARS-Share-Based Equity Awards SARS-Share-Based Liability Awards Stock-Appreciation Rights Example Appendix 16B Comprehensive Earnings per Share Example Diluted Earnings per Share FASB Codification IFRS Insights
Chapter 17 Investments
  What to Do?
 Investments in Debt Securities
 Debt Investment Classifications
  Held-to-Maturity Securities
  Available-for-Sale Securities
  What Do the Numbers Mean? What Is Fair Value?
  Trading Securities
 Investments in Equity Securities
  Holdings of Less Than 20%
  What Do the Numbers Mean? More Disclosure, Please
  Holdings Between 20% and 50%
  Holdings of More Than 50%
  What Do the Numbers Mean? Who's in Control Here?
 Additional, Measurement Issues
  Fair Value Option
 Evolving Issue Fair Value Controversy
  Impairment of Value
 Reclassifications and Transfers
  Reclassification Adjustments
  Transfers Between Categories
  Summary of Reporting Treatment of Securities
 Evolving Issue Classification and Measurement-The Long Road
    Appendix 17A Accounting for Derivative Instruments
  Defining Derivatives
  Who Uses Derivatives, and Why?
  Producers and Consumers
  Speculators and Arbitrageurs
  Basic Principles in Accounting for Derivatives
  Example of Derivative Financial
  Instrument-Speculation
 Differences Between Traditional and
 Derivative Financial Instruments
  Derivatives Used for Hedging
  What Do the Numbers Mean? Risky Business
  Fair Value Hedge
  Cash Flow Hedge
  Other Reporting Issues
  Embedded Derivatives
  Qualifying Hedge Criteria
  Summary of Derivatives-Accounting
  Comprehensive Hedge Accounting Example
  Fair Value Hedge
  Financial Statement Presentation of an Interest Rate Swap
  Controversy and Concluding Remarks
    Appendix 17B Variable-Interest Entities
  What About GAAP?
  Consolidation of Variable-Interest Entities
  Some Examples
  What Is Happening in Practice?
 Appendix 17C Fair Value Disclosures
 Disclosure of Fair Value Information: Financial Instruments
  Disclosure of Fair Values: Impaired
  Assets or Liabilities
  Conclusion
    FASB Codification
  IFRS Insights

Chapter 18 Revenue Recognition It's Back Overview of Revenue Recognition Guidelines for Revenue Recognition Departures from the Sale Basis What Do the Numbers Mean? Liability or Revenue? Revenue Recognition at Point of Sale (Delivery) Sales with Discounts Sales with Right of Return Sales with Buybacks Bill and Hold Sales Principal-Agent Relationships What Do the Numbers Mean? Grossed Out Trade Loading and Channel Stuffing What Do the Numbers Mean? No Take-Backs Multiple-Deliverable Arrangements Summary Revenue Recognition before Delivery Percentage-of-Completion Method Completed-Contract Method Long-Term Contract Losses What Do the Numbers Mean? Less Conservative Disclosures in Financial Statements Completion-of-Production Basis Revenue Recognition after Delivery Installment-Sales Method Cost-Recovery Method Deposit Method Summary and Concluding Remarks Appendix 18A Revenue Recognition for Franchises Initial Franchise Fees Example of Entries for Initial Franchise Fee Continuing Franchise Fees Bargain Purchases Options to Purchase Franchisor's Cost Disclosures of Franchisors FASB Codification IFRS Insights
Chapter 19 Accounting for Income Taxes How Much Is Enbugh? Fundamentals of Accounting for Income Taxes Future Taxable Amounts and Deferred Taxes What Do the Numbers Mean? "Real Liabilities" Future Deductible Amounts and Deferred Taxes What Do the Numbers Mean? "Real Assets" Deferred Tax Asset-Valuation Allowance Income Statement Presentation Specific Differences Tax Rate Considerations What Do the Numbers Mean? Global Tax Rates Accounting for Net Operating Losses Loss Carryback Loss Carryforward Loss Carryback Example Loss Carryforward Example What Do the Numbers Mean? NOLs: Good News or Bad? Financial Statement Presentation Balance Sheet What Do the Numbers Mean? Imagination at Work Income Statement Evolving Issue Uncertain Tax Positions Review of the Asset-Liability Method Appendix 19A Comprehensive Example of Interperiod Tax Allocation First Year-2013 Taxable Income and Income Taxes Payable-2013 Computing Deferred Income Taxes-End of 2013 Deferred Tax Expense (Benefit) and the Journal Entry to Record Income Taxes-2013 Financial Statement Presentation-2013 Second Year-2014 Taxable Income and Income Taxes Payable-2014 Computing Deferred Income Taxes-End of 2014 Deferred Tax Expense (Benefit) and the Journal Entry to Record Income Taxes-2014 Financial Statement Presentation-2014 FASB Codification IFRS Insights
Chapter 20 Accounting for Pensions and Postretirement Benefits Where Have All the Pensions Gone? Nature of Pension Plans Defined Contribution Plan Defined Benefit Plan What Do the Numbers Mean? Which Plan Is Right for You? The Role of Actuaries in Pension Accounting Accounting for Pensions Alternative Measures of the Liability Recognition of the Net Funded Status of the Pension Plan Components of Pension Expense Using a Pension Worksheet 2014 Entries and Worksheet Amortization of Prior Service Cost (PSC) 2015 Entries and Worksheet Gain or Loss What Do the Numbers Mean? Pension Costs Ups and Downs Corridor Amortization Evolving Issue Bye Bye Corridor 2016 Entries and Worksheet What Do the Numbers Mean? Roller Coaster Reporting Pension Plans in Financial Statements Within the Financial Statements Within the Notes to the Financial Statements Example of Pension Note Disclosure 2017 Entries and Worksheet-A Comprehensive Example Special Issues What Do the Numbers Mean? Who Guarantees the Guarantor? Concluding Observations Appendix 20A Accounting for Postretirement Benefits Accounting Guidance Differences Between Pension Benefits and Healthcare Benefits What Do the Numbers Mean? OPEBs-How Big Are They? Postretirement Benefits Accounting Provisions Obligations Under Postretirement Benefits Postretirement Expense Illustrative Accounting Entries 2014 Entries and Worksheet Recognition of Gains and Losses 2015 Entries and Worksheet Amortization of Net Gain or Loss in 2016 Disclosures in Notes to the Financial Statements Actuarial Assumptions and Conceptual Issues What Do the Numbers Mean? Want Some Bad News? FASB Codification IFRS Insights
Chapter 21 Accounting for Leases
 More Companies Ask, "Why Buy?" The Leasing Environment
  Who Are the Players?
  Advantages of Leasing
  What Do the Numbers Mean?
  Off-Balance-Sheet Financing
  Conceptual Nature of a Lease
  Accounting by the Lessee
  Capitalization Criteria
  Asset and Liability Accounted for Differently
  Capital Lease Method (Lessee)
  Operating Method (Lessee)
  What Do the Numbers Mean? Restatements on the Menu
  Comparison of Capital Lease with
  Operating Lease
 Evolving Issue Are You Liable?
  Accounting by the Lessor
  Economics of Leasing
  Classification of Leases by the Lessor
  Direct-Financing Method (Lessor)
  Operating Method (Lessor)
 Special Lease Accounting Problems
  Residual Values
  Sales-Type Leases (Lessor)
  What Do the Numbers Mean? Xerox Takes on the SEC
  Bargain-Purchase Option (Lessee)
  Initial Direct Costs (Lessor)
  Current versus Noncurrent
  Disclosing Lease Data
 Unresolved Lease Accounting Problems
 Evolving Issue Lease Accounting-If It
 Quacks Like a Duck
 Appendix 21A Sale-Leasebacks
  Determining Asset Use
  Lessee
  Lessor
  Sale-Leaseback Example
    FASB Codification
  IFRS Insights

Chapter 22 Accounting Changes and Error Analysis In the Dark Accounting Changes Changes in Accounting Principle What Do the Numbers Mean? Quite a Change Retrospective Accounting Change Approach What Do the Numbers Mean? Change Management Direct and Indirect Effects of Changes Impracticability Changes in Accounting Estimates Prospective Reporting Disclosures Changes in Reporting Entity Accounting Errors Example of Error Correction Summary of Accounting Changes and Correction of Errors What Do the Numbers Mean? Can I Get My Money Back? Motivations for Change of Accounting Method Error Analysis Balance Sheet Errors Income Statement Errors Balance Sheet and Income Statement Errors Comprehensive Example: Numerous Errors What Do the Numbers Mean? Guard the Financial Statements! Preparation of Financial Statements with Error Corrections Appendix 22A Changing from or to the Equity Method Change from the Equity Method Dividends in Excess of Earnings Change to the Equity Method FASB Codification IFRS Insights
Chapter 23 Statement of Cash Flows Show Me the Money! Preparation of the Statement of Cash Flows Usefulness of the Statement of Cash Flows Classification of Cash Flows What Do the Numbers Mean? How's My Cash Flow? Format of the Statement of Cash Flows Steps in Preparation Illustrations-Tax Consultants Inc. Step 1: Determine the Change in Cash Step 2: Determine Net Cash Flow from Operating Activities What Do the Numbers Mean? Earnings and Cash Flow Management? Step 3: Determine Net Cash Flows from Investing and Financing Activities Statement of Cash Flows-2013 Illustration-2014 Illustration-2015 Sources of Information for the Statement of Cash Flows Net Cash Flow from Operating Activities-Direct Method Evolving Issue Direct versus Indirect Special Problems in Statement Preparation Adjustments to Net Income Accounts Receivable (Net) What Do the Numbers Mean? Not What It Seems Other Working Capital Changes Net Losses Significant Noncash Transactions What Do the Numbers Mean? Cash Flow Tool Use of a Worksheet Preparation of the Worksheet Analysis of Transactions Preparation of Final Statement FASB Codification IFRS Insights
Chapter 24 Full Disclosure in Financial Reporting High-Quality Financial Reporting-Always in Fashion Full Disclosure Principle Increase in Reporting Requirements Differential Disclosure Evolving Issue Disclosure-Quantity and Quality Notes to the Financial Statements Accounting Policies Common Notes What Do the Numbers Mean? Footnote Secrets Disclosure Issues Disclosure of Special Transactions or Events Post-Balance-Sheet Events (Subsequent Events) Reporting for Diversified (Conglomerate) Companies Interim Reports Evolving Issue It's Faster but Is It Better? Auditor's and Management's Reports Auditor's Report What Do the Numbers Mean? Heart of the Matter Management's Reports Current Reporting Issues Reporting on Financial Forecasts and Projections What Do the Numbers Mean? Global Forecasts Internet Financial Reporting What Do the Numbers Mean? New Formats, New Disclosure Fraudulent Financial Reporting What Do the Numbers Mean? Disclosure Overload Criteria for Making Accounting and Reporting Choices Appendix 24A Basic Financial Statement Analysis Perspective on Financial Statement Analysis Ratio Analysis Limitations of Ratio Analysis Comparative Analysis Percentage (Common-Size) Analysis FASB Codification IFRS Insights