公司财务会计
1998-04
东北财经大学出版社
沃伦,(美)
Contents
Partl
Fundamentals' of Financial
Accounting Systems
A Brief Look at Accounting-Its Past, Present,
and Future
Early Accounting
Double-Entry System
Corporate Organization
Public Accounting
Income Tax
Govemment Influence
Accounting's Future
Do You Use Accounting
1 Introduction to Accounting Concepts and
Practice 6
Accounting as an Information System
Profession of Accounting
Private Accounting
Public Accounting
Professional Ethics tor Accountants
Specialized Accounting Fields
Generally Accepted Accounting Principles
Business Entity Concept
The Cost Principle
Business Transactions
Assets, Liabilities, and Owner's Equity
Transactions and the Accountlng Equation
Financial Statements
Income Statement
Retained Earnings Statement
Balance Sheet
Statement of Cash Flows
2 Analyzing Transactions
Usefulness of an Account
Characteristics of an Account
Analyzlng and Summarizing Transactions in Accounts
Balance Sheet Accounts
Income Statement Accounts
Dividends
Normal Balances of Accounts
lllustration of Analyzing and Summarizing Transactions
Trial Balance
Discovery and Correction of Errors
Discovery of Errors
Correction of Errors
3 The Matching Concept and the Adjusting
Process
The Matching Concept
Nature of the Adjusting Process
Recording Adjusting Entries
Deferred Expenses (Prepaid Expenses)
Deferred Revenue (Unearned Revenue)
Accrued Expenses (Accrued Liabilities)
Accrued Revenues (Accrued Assets)
Plant Assets
Work Sheet
Trial Balance Columns
Adjustments Columns
Adjusted Trial Balance Columns
Completing the Work Sheet
4 Completing the Accounting Cycle
Work Sheet
Income Statement and Balance Sheet Columns
Completing the Work Shept
Financial Statements
Income Statement
Retained Earnings Statement
Balance Sheet
Joumalizing and Posting Adjusting Entries
Nature of the Closing Process
Journalizing and Posting Closing Entries
Post-Closing Trial Balance
Fiscal Year
Accounting Cycle
Appendix: Reversing Entries
5 Accounting for Merchandising Businesses
Nature of Merchandising Businesses
Accounting for Purchases
Purchases Discounts
Purchases Returns and Allowances
Accounting for Sales
Sales Discounts
Sales Returns and Allowances
Sales Taxes
Trade Discounts
Transportation Costs
lllustration of Accounting for Merchandise Transactior
Chart of Account for a Merchandising Business
Income Statement for a Merchandising Business
Multiple-Step Form
Single-Step Form
The Accounting Cycle for a Merchandising Business
Merchandise Inventory Shrinkage
Work Sheet
Retained Earnings Statement
Balance Sheet
Closing Entries
Appendix: Work Sheet and Adiusting and Closing Entries for a
Merchandising Business
Part2
Financial Accounting Systems--
Assets
6 Accounting Systems, Internal Controls, and
Cash
Principles of Accounting Systems
Cost-Benefit Balance
Effective Reports
Ability to Adapt to Future Needs
Adequate Internal Controls
Accounting Systems Installation and Revision
Systems Analysis
Systems Design
Systems Implementation
Internal Control
Objectives of Internal Control
Elements of Intemal Control
Nature of Cash and Importance of Controls Over Cash
Internal Control of Cash Receipts
Cash Change Funds
Cash Short and Over
Internal Control of Cash Payments
Basic Features of the Voucher System
Purchases Discounts Lost
Petty Cash
Other Cash Funds
Bank Accounts: Their Nature and Use as a Control Over Cash
Business Bank Accounts
Bank Statement
Bank Accounts as a Control Over Cash
Bank Reconciliation
Presentation of Cash on the Balance Sheet
Electronic Funds Transfer
7 Receivables and Temporary Investments
Classification of Receivables
Accounts Receivable
Notcs Receivable
Other Receivables
Internal Control of Receivables
Uncollectible Receivables
Allowance Method of Accounting for Uncollectibles
Write-Offs to the Allowance Account
Estimating Uncollectibles
Direct Write-Off Method of Accouniing for Uncollectihies
Characteristics of Notes Receivable
Due Date
Interest
Maturity Valu
Accounting for Notes Receivable
Discounting Notes Receivable
Dishonored Notes Receivable
Temporary Investments
Temporary Investments and Receivables in the Balance Sheet
8 Inventories
Internal Control of Inventories
Determining Actual Quantities in the Inventory
Procedures for Taking a Physical Inventory
Eft'ect ot' Inventory Errors on Financial Statements
Inventory Costing Methods Under a Perpetual tnventory System
First-in, First-out Method
Last-in, First-out Method
Average Cost Method
Computerized Perpetual Inventory Systems
Inventory Costing Methods Under a Periodic Inventory System
First-in, First-out Method
Last-in, First-out Method
Average Cost Mcthod
Comparing Inventory Cosiing Methods
Use of the First-in, First-out Method
Use ot the Last-in, First-out Method
LJse ot thc Average Cost Method
Selection of an Inventory Costing Method
Valuation of Inventory at Other Than Cost
Valuation at Lower of Cost or Market
Valuation at Net Realiz.able Value
Presentation of Merchandise Inventory on the Balance Sheet
Estimating Inventory Cost
Retail Method of Inventory Costing
Gross Profit Method of Estimating Inventories
9 Plant Assets and intangible Assets
Nature of Plant Assets
Costs of Acquiring Plant Asset
Nature of Depreciation
Accounting for Depreciation
Straight-Line Method
Units-of-Production Method
Declining-Balance Method
Comparing Depreciation Methods
Depreciation for Federal Income Tax
Revision of Periodic Depreciation
Recording Depreciation
Subsidiary Ledgers for Plant Assets
Depreciation of Plant Assets of Low Unit Cost
Composite-Rate Method
Capital and Revenue Expenditures
Capital Expenditures
Revenue Expenditures
Summary of Capital and Revenue Expenditures
Disposal of Plant Assets
Discarding Plant Assets
Sale of Plant Assets
Exchanges of Similar Plant Assets
Leasing Plant Assets
Internal Control of Plant Assets
Depletion
Intangible Assets
Patents
Copyrights
Goodwill
Financial Reporting for Plant Assets and Intangible Assets
Appendix: Sum-of-the-Years-Digits Depreciation
Part3
Financial Accounting Systems-
Liabilities and Equity
10 Payroll, Notes Payabte, and Other Current
Liabilities
Payroll and Payroll Taxes
Liability for Employee Earnings
Deductions from Employee Earnings
Income Taxes
Computing Employee Net Pay
Liability for Employer's Payroll Taxes
Accounting Systems for Payroll and Payroll Taxes
Payroll Register
Employee's Earnings Record
Payroll Checks
Pavroll Svstem Diagram
Internal Controls for Payroll Sy
Employees' Fringe Benefits
Vacation Pay
Pensions
Postretirement Benefits Other Than Pension
Short-Term Notes Payable
Product Warranty Liability
ll Bonds Payable and Investments in Bonds
Characteristics of Bonds Payable
The Present-Value Concept and Bonds Payable
Present Value of the Face Amount of Bonds
Present Value of the Periodic Bond Interest Payments
Accounting for Bonds Payable
Bonds Issued at Face Amount
Bonds Issued at a Discount
Amortization of a Bond Discount
Bonds Issued at a Premium
Amortization of a Bond Premium
Zero-Coupon Bonds
Bond Sinking Funds
Bond Redemption
Investments in Bonds
Accounting for Bond Investment.'--Purchase, Interest, and
Amortization
Accounting for Bond Investments--Sale
Balance Sheet Presentation of Bonds Payable and Bond
Investments
Appendix-Effective Interest Rate Method of Amortization
Amortization of Discount by the Interest Method
Amortization of Premium by the Interest Method
12 Corporations: Organlzation and Equity
Rights
Nature of a Corporation
Characteristics of Corporations
Forming a Corporation
Sources of Paid-in Capital
Stock
Other Sources of Paid-it Capital
Issuing Stock
Premium on Stock
No-Par Stock
Treasury Stock Transactions
Reporting Paid-ln Capital
Stock Splits
Accounting for Dividends
Cash Dividends
Stock Dividends
Liquidating Dividends
Appropriations of Retained Earnings
Reporting Retained Earnings
Reporting Retained Earnings in the Balance Sheet
Retained Earnings Statement
Combined Income and Retained Earnings Statement
Statement of Stockholders' Equity
13 Corporate Earnings, International
Transactions, and Investments in Stocks
Corporate Income Taxes
Payment of Income Taxes
Allocation of Income Taxes
Unusual Kems that Affect the Income Statement
Discontinued Operations
Extraordinary Items
Changes in Accounting Principles
Earnings Per Common Share
Foreign Currency Exchange Gains and Losses
Realized Currency Exchange Gains and Losses
Unrealized Currency Exchange Gains and Losses
Prior-Period Adjustments
Analyzing investments in Stocks
Price-Earnings Ratio
Equity Per Share
Accounting for Long-Term investments in Stocks
Cost Method
Equity Method
Sale of Long-Term Investments in Stock
Business Combinations
Mergers and Consolidations
Parent and Subsidiary Corporations
Consolidated Financial Statements
Practice Set: Electronic Play Inc.
This set is available with transactions in narrative form. It
provides practice in accounting (including corporate debt)
for a merchandising corporation that uses a general journal
It may also be solved using the Solutions Software.
Practice Set: SEMO Sporting Goods Supply Inc.
This set requires locating errors in recording and posting
transactions, preparing correcting entries, and preparing fi-
nancial statements for a wholesaling corporation.
Part4
Using Accounting Information
Statement of Cash Flows
Purpose of the Statement of Cash Flows
Reporting Cash Flows
Cash Flows From Operating Activities
Cash Flows From Investing Activities
Cash Flows From Financing Activities
lllustrations of the Statement of Cash Flows
Noncash Investing and Financing Activities
Cash Flow Per Share
Statement of Cash Flows-The Indirect Method
Retained Earnings
Common Stock
Preferred Stock
Bonds Payable
Equipment
Building
Land
Long-Term Investments
Preparing the Statement ofCash Flows
Statement of Cash Flows-The Direct Method
Cash Received From Customers
Cash Payments for Merchandise
Cash Payments for Operating Expenses
Gain on Sale of Investments
Interest Expense
Cash Payments for Income Taxes
Reporting Cash Flows From Operating Activities--Direct
Method .
Appendix: Work Sheet for Statement of Cash Flows
Work Sheet-Indirect Method
Work Sheet--Direct Method
Practice Set: lce Inc.
This is an interactive, computer-based set that gives immedi-
ate feedback as it is being solved. It provides practice in ac-
counting for a merchandising corporation that uses a perpet-
ual inventory system and a general joumal.
Annual Reports and Financial Statement
Analysis
Corporate Annual Reports
Hershey Foods Corporation Annual Report
Financial Statement Analysis
Basic Analytical Procedures
Financial Statement Analyses of Solvency and
Profitability
Solvency Analysis
Profitability Analysis
Summary of Analytical Measures
Part5
Managerial Accounting Principles
and Systems
A Brief Look at Managerial Accounting-Its
Past, Present, and Future
The Period of Independent Contracting
The Rise of the Single Activity Organization-Intemal
Contracting
Multidivisional Firms and Product Costing
Emergence of the Public Corporation and Financial
Reporting
The Lean Enterprise
Historical Summary
14 Managerial Accounting Concepts and
Principles
The Differences Between Managerial and Financial
Accounting
The Role of the Management Accountant
Where Does the Management Accountant Fit in an
Organization?
Ethical Role of Management Accountants
Managerial Accounting in the Management Process
Planning
Directing
Controlling
Improving
Decision Making
A Tour of Manufacturing Operations: Costs and
Terminology
Direct and Indirect Costs
Manufacturing Costs
Product Costs and Period Costs
Financial Statements for Manufacturing Businesses
Trends in Business
Just-in-Time Manufacturing
Total Quality Management
Computer-lntegrated Manufacturing
Globalization of Business
Service Industry Awareness
15 Job Order Cost Systems
Usefulness of Product Costs
Cost Accounting System Overview
Job Order Cost Systems for Manufacturing Businesses
Cost Flow Overview-Job Order Cost System
Materials
Factory Labor
Factory Overhead
Work in Process
Finished Goods and Cost of Goods Sold
Sales
Summary of Cost Flows for Goodwell Printers
Job Order Costing for Decision Making
Job Order Cost Systems for Service Businesses
Practice Set: Highpoint Solar Inc.
This set is available with transactions in narrative form. It
provides practice in accounting for a manufacturing corpora-
tion that uses a job order cost system. It may also be solved
using the Solutions Software.
16 Process Cost Systems
Comparing Job Order Costing and Process Costing
Physical Flows and Cost Flows for a Process Manufacturer
The First-ln, First-Out (FlFO) Method
Step l: Determint' the Units to Be Assigned Costs
Step 2: Calculate Equivalent Units of Production
Step 3: Determine the Cost Per Equivalent Unit
Step 4: Allocate Costs to Transferred and Partially
Completed Units
Bringing It All Together: The Cost of Production Report
Journal Entries for a Process Cost System
Using the Cost of Production Report for Decision
Making
Part6
Planning and Control
17 Cost Behavior and Cost-Volume-Profit
Analysis
Cost Behavior
Variable Costs
Fixed Costs
Mixed Costs
Summarv of Cost Behavior Concepts
Reporting Variable and Fixed Costs
Cost-Volume-Profit Relationships
Contribution Margin Concept
Mathematical Approach to Cost-Volume-Profit Analysis
Break-Even Puint
Targct profit
Graphic Approach to Cost-Volume-Profit Analysis
Cost-Volume-Profit (Break-Even) Chart
Profit-Volume Chart
Use of Computers in Cost-Volume-Profit Analysi
Sales Mix Considerations
Special Cost-Volume-Profft Relationships
Margin of Safety
Operating Leverage
Assumptions of Cost-Volume-Profit Analysis
18 Profit Reporting for Management
Analysis
Absorption Costing and Variable Costing
The Income Statement Under Variable Costing and Absorption
Costing
Income Reported When Units Manufactured Equal Unit
Sold
Income Reported When Llnits Manufactured Exceed Unit
Sold
Income Reported When Units Manutactured Are Less Than
Units Sold
Comparing Income Reported Under the Two Concept
Income Analysis Under Variable Costing and Absorption
Costing
Management's Use of Variable Costing and Absorption
Costing
Controlling Costs
Pricing Products
Planning Production
Analyzing Markets
Analyzing Contribution Margin
19 Budgeting
Nature and Objectives of Budgeting
Objectives of Budgeting
Human Behavior and Budgeting
Budgeting Systems
Static Budget
Flexible Budget
Computerized Budgeting System
Master Budget
income Statement Budgets
Sales Budget
Production Budget
Direct Materials Purchases Budget
Direct Labor Cost Budget
Factory Overhead Cost Budget
Cost of Goods Sold Budget
Operating Expenses Budget
Budgeted income Statement
Balance Sheet Budgets
Cash Budget
Capital Expenditures Budget
Budgeted Balance Sheet
20 Performance Evaluation Using Variances
from Standard Costs
Standards
Setting Standards
Types of Standards
Reviewing and Revising Standards
Support and Criticism of Standards
Flexible Budgeting and Control
Direct Materials Variances
Direct Materials Price Variance
Direct Materials Quantity Variance
Direct Materials Variance Relationships
Reporting Direct Materials Variances
Direct Labor Variances
Direct Labor Rate Variance
Direct Labor Time Variance
Direct Labor Variance Relationships
Reporting Direct Labor Variances
Factory Overhead Variances
The Factory Overhead Flexible Budget
Variable Factory Overhead Controllable Variance
Fixed Factory Overhead Volume Variance
Reporting Factory Overhead Variances
Recording and Reporting Variances from Standards
Standards for Nonmanufacturing Expenses
Nonfinancial Performance Measures
21 Performance Evaluation for Decentralized
Operations
Centralized and Decentralized Operations
Advantages of Decentralization
Disadvantages of Decentralization
Responsibility Accounting
Responsibility Accounting for Cost Centers
Responsibility Accounting for Profit Centers
Operating Income
Service Department Charges
Controllable Operating Income
Responsibility Accounting for Investment Centers
Rate of Return on Investment
Residual Income
Nonfinancial Divisional Performance Measurement
Transfer Pricing
Market Price Approach
Negotiated Price Approach
Cost Price Approach
Part7
Decision Making
22 Differential Analysis and Product
Pricing
Differential Analysis
Lease or Sell
Discontinue a Segment or Product
Make or Buy
Replace Equipment
Process or Sell
Accept Business at a Special Price
Setting Normal Product Selling Prices
Total Cost Concept
Product Cost Concept
Variable Cost Concept
Choosing a Cost-Plus Approach Cost Concept
Activity-Based Costing
Product Profitability and Pricing Under Production
Bottlenecks
Product Profitability Under Production Bottlenecks
Product Pricing Under Production Bottlenecks
23 Capital Investment Analysis
Nature of Capital Investment Analysis
Methods of Evaluating Capital Investment Proposals
Methods That Ignore Present Value
Present Value Methods
Qualitative Considerations in Capital Investment Analysis
Factors That Complicate Capital Investment Analysis
Income Tax
Unequal Proposal Lives
Lease Versus Capital Investment
Uncertainty
Changes in Price Level
Capital Rationing
Part8
Cost Management for Advanced
Manufacturing Environments
24 Cost Allocation and Activity-Based
Costing
Product Costing Allocation Methods
Single Planlwide Factory Overhead Rate Melhod
Multiple Production Department Factory Overhead Rate Method
Production Department Factory Overhead Rates and
Allocation
Distortion in Product Costs-Single Plantwide vs. Multipl
Production Department Factory Overhead Rates
Activity-Based Costing Method
Activity Rates and Allocation
Distortion in Product Costs-Multiple Production
Department Factory Overhead Rate Method vs Activity-
Based Costing
The Dangers of Product Cost Distortion
Activity-Based Costing for Selling and Administrative
Expenses
Activity-Based Costing in Service Businesses
25 Cost Management for Just-in-Time
Manufacturers
Just-in-Time Principles
Reducing Inventory
Reducing Lead Times
Emphasizing Product-Oriented Layout
Emphasizing Employee Involvement
Reducing Setup Time
Emphasizing Pull Manufacturing
Emphasizing Zero Defects
Emphasizing Supplier Partnering
Applying a Just-in-Time Approach to Anderson Metal
Fabricators
Traditional Operations-AMF
Just-in-Time Operations-AMF
Accounting for Just-in-Time Operations
Fewer Transactions
Combined Accounts
Nonfinancial Performance Measures
Direct Tracing of Overhead 1000
Accountlng for the Costs of Quality
Costs of Controlling Quality
Costs of Failing to Control Quality
The Relationship Between the Costs of Quality
Determining the Costs of Quality
Pareto Chart
Cost of Quality Report
Value-Added/Nonvalue-Added Activity Analysis 1037
Appendix A: interest Tables A-1
Appendix B: Codes of Ethics B-1
Appendix C: Altemative Methods of Recording
Deferrals
Appendix D: Special Joumals and Subsidiary
Ledgers
Appendix E: Periodic inventory Systems
Glossary
Index
Check Figures
Classification of Accounts
