Financial Accounting: Global Approach, A

Description: This international adaptation of Bel Needles' best-selling Financial Accounting, 5/e incorporates international accounting standards and examples and provides an unmatched global approach to how business people use financial accounting information.



Contents: Note: Each chapter contains a Chapter Review and Chapter Assignments. I. ACCOUNTING AS AN INFORMATION SYSTEM. 1. Accounting Information, Decision Making, and the Uses of Financial Statements. Decision Point: McDonalds's Corporation. Accounting as an Information System. Business Bulletin: Business Practice. Decision Makers: The Users of Accounting Information. Accounting Measurement. The Corporation as a Separate Entity. Business Bulletin: Business Practice. Financial Position and the Accounting Equation. Communication Through Financial Statements. Accounting Standards. Professional Ethics and the Accounting Profession. 2. Measuring Business Transactions. Decision Point: United Airlines and Boeing. Measurement Issues. Accounts and the Chart of Accounts. Business Bulletin: Business Practice. The Double-Entry System: The Basic Method of Accounting. Business Bulletin: Technology in Practice. Recording and Posting Transactions. Business Bulletin: Ethics in Practice. The Trial Balance. Business Bulletin: Technology in Practice. 3. Measuring Business Profit. Decision Point: Reuters. The Measurement of Business Profit. Accrual Accounting. The Adjustment Process. Decision Point: Joan Miller Advertising Agency. Closing Entries. Business Bulletin: Technology in Practice. Cash Flows, Accrual Accounting, and Management Objectives. A Note About Journal Entries. 4. Accounting for Trading Operations. Decision Point: Marks & Spencer. Management Issues in Trading Businesses. Income Statement for a Trading Enterprise. Inventory Systems. Business Bulletin: Technology in Practice. Trading Transactions. Business Bulletin: Business Practice. Internal Control Structure: Basic Elements and Procedures. Internal Control over Trading Transactions. Accounting for Discounts. 5. Financial Statement Objectives, Presentation, and Analysis. Decision Point: Nestle. Objective of Financial Information. Principal Qualitative Characteristics of Accounting Information. Constraints on Relevant and Reliable Information. Management's Responsibility for Ethical Reporting. Classified Balance Sheet. Forms of the Income Statement. Business Bulletin: Business Practice. Using Classified Financial Statements. Components of an Annual Report. II. THE MEASUREMENT OF FINANCIAL POSITION AND PERFORMANCE: KEY REPORTING ISSUES. 6. Short-Term Liquid Assets. Decision Point: Sony. Management Issues Related to Short-Term Liquid Assets. Cash and Cash Equivalents. Business Bulletin: International Practice. Decision Point: Campbell Soup. Current Investments. Accounts Receivable. Business Bulletin: Technology in Practice. Notes Receivable. Credit Card Sales. 7. Inventories. Decision Point: Philips. Management Issues Associated with Accounting for Inventories. Business Bulletin: Business Practice. Pricing Inventory under the Periodic Inventory System. Pricing Inventory under the Perpetual Inventory System. Comparison and Impact of Inventory Decisions and Misstatements. Business Bulletin: International Practice. Valuing the Inventory at the Lower of Cost and Market (LCM). Valuing Inventory by Estimation. 8. Long-Term Assets. Decision Point: Danone. Management Issues Related to Accounting for Long-Term Assets. Acquisition Cost of Property, Plant, and Equipment. Accounting for Depreciation. Factors That Affect the Computation of Depreciation. Disposal of Depreciable Assets. Accounting for Natural Resources. Accounting for Intangible Assets. Business Bulletin: Business Practice. Special Problems of Depreciating Plant Assets. 9. Liabilities. Decision Point: Tsingtao Brewery. Management Issues Related to Accounting for Current Liabilities. Common Categories of Current Liabilities. Business Bulletin: Technology in Practice. Business Bulletin: Business Practice. Contingent Liabilities. The Time Value of Money. The Management Issues Related to Accounting for Long-Term Liabilities. The Nature of Bonds. Accounting for Bonds Payable. Business Bulletin: Business Practice. Amortising a Bond Discount. Other Bonds Payable Issues. Other Long-Term Liabilities. 10. Share Capital. Decision Point: Daimler-Benz. The Corporation. Business Bulletin: International Practice. The Components of Shareholders' Equity. Decision Point: J. C. Penney Company. Business Bulletin: Business Practice. Accounting for Share Issues. Exercising Share Options. 11. Profit and Retained Earnings. Decision Point: South African Breweries. Profit and the Income Statement. Earnings per Share. Retained Earnings Transactions. Restrictions on Retained Earnings. The Statement of Shareholders' Equity. Share Values. Business Bulletin: Business Practice. III. SPECIAL TOPICS IN FINANCIAL ACCOUNTING AND ANALYSIS. 12. Cash Flow Statements. Decision Point: The Broken Hill Proprietary Company. Purposes, Uses, and Components of the Cash Flow Statement. Preparing the Cash Flow Statement. Business Bulletin: International Practice. Analysis of the Cash Flow Statement. Business Bulletin: Business Practice. Preparing the Work Sheet. 13. Intercompany Investments, Consolidated Financial Statements, and Foreign Currency Accounting. Decision Point: Sime Darby. Long-Term Intercompany Investments. Consolidated Financial Statements. Business Bulletin: Business Practice. Foreign Currency Accounting. Business Bulletin: International Practice. 14. Financial Statement Analysis. Decision Point: Unilever. Objectives of Financial Statement Analysis. Standards for Financial Statement Analysis. Sources of Information. Decision Point: Cadbury Schweppes. Business Bulletin: Technology in Practice. Evaluating a Company's Quality of Earnings. Tools and Techniques of Financial Analysis. Comprehensive Illustration of Ratio Analysis. Business Bulletin: International Practice. Appendixes: A. Nestle Management Report; B. Glossary of International Accounting Terms; C. International Accounting Standards Committee.