第1章 会计与企业环境...........................................2
第2章 记录企业交易............................................58
第3章 调整过程...............................................124
第4章 会计循环的完成 ........................................194
第5章 商品流通企业的经营.....................................252
第6章 商品存货...............................................310
第7章 会计信息系统...........................................352
第8章 内部控制与现金.........................................406
第9章 应收项目...............................................454
第10章 固定资产和无形资产....................................504
第11章 流动负债和工薪........................................548
第12章 合伙企业..............................................594
第13章 公司：实收资本和资产负债表.............................636
第14章 公司：留存收益和损益表.................................688
第15章 长期负债..............................................732
第16章 现金流量表............................................782
第17章 财务报表分析..........................................846
附录A Amazon.com年报.........................................A-1
附录B 投资与国际业务.........................................B-1
附录C 现值表.................................................C-1
附录D 习题答案...............................................D-1
照片索引......................................................PC-1
术语索引.......................................................G-1
公司索引.......................................................I-1
Brief Contents
CHAPTER 1 Accounting and the Business Environment 2
b and the Business Environment 2
.
CHAPTER 2 Recording Business Transactions SS
b Business Transactions SS
CHAPTER 3 The Adiusting Process 124
, b Process 124
CHAPTER 4 Completing the Accounting Cycle 194
CHAPTER 5 Merchandising Operations 252
ac perations 252
,
CHAPTER 6 Merchandise inventory 310
J
CHAPTER 7 Accounting Information Systems 352
ac information Systems 352
.
CHAPTER & Internal Control and Cash 406
CHAPTER 9 Receivables 454
.
CHAPTER 10 Plant Assets and intangibles 504
.lbles s04
CHAPTER 11 Current Liabilities and Payroll 548
,roll s48
.
CHAPTER 12 Partnerships 594
CHAPTER 13 Corporations: Paid-In Capital and the Balance Sheet 636
CHAPTER 14 Corporations: Retained Earnings and the income Statement 688
CHAPTER 15 Long-Term Liabilities 732
CHAPTER 16 The Statement of Cash Flows 782
,
CHAPTER 17 Financial Statement AnalVsis 846
afls 846
Appendix A: Amazon.com Annual Report A-1
Appendix B: Investments and international Operations B-1
Appendix C: Present Value Tables C-1
Appendix D: Check Figures D-1
Photo Credits PC-1
Glindex G-1
Company index I-1
- -
VIII
Contents
4 Accountina and the Business Environment 2
I- -~~~ ~.. -... =, ~.. ~ -.. ~ ~~~... ~ ~~ ~.. -.. ~..... ~.. -
-. ~. - ac ~.,
Accounting: The Language of Business 4
a: foe Language of Business 4
Decision Makers: The Users of Accounting information 4
Financial Accounting and Management Accounting S
ml,. n, c.
foe Accounting Profession 6
a Profession 6
Governing Organizations 6
Ethics in Accounting and Business 6
standards of Professional Conduct 7
standards of Professional Conduct 7
m r n..
fvpes of Business Organizations 8
ypes of Business Organizations 8
Accounting Concepts and Principles 9
al v.
foe Entity ConceDt 9
y pt 9
al n 1. I .I.
foe Reliability (Objectivity) Principle 10
y \Objectivity) Principle 10
FI
foe Cost Principle 10
FI
foe Going-Concern Concept 10
al <' I I Monetarl TT.
foe Stable-Monetary-Unit ConceDt 10
J pt 10
al 4. n.' 1
foe Accounting EOuation 11
a equation 11
Assets and Liabilities 11
Owner's Equity 11
Accounting for Business Transactions 13
Evaluating Business Transactions--The User Perspective of Accounting 17
al v.. I < 4 Q
l he Financial Statements 19
Financial Statement Headings 21
Relationships Among the Financial Statements 22
. Decision Guidelines 22
* Summary Problem 23
y Problem 23
Review and Assignment Material 26
* ChaDter 1 Oemo Doc: Transaction Analysis Usina Accounting Equation/Financial
pier 1 Oemo Doc: Transaction AnalySis Using Accounting Equation/Financial
ststement PreDaration 49
paration 49
2Recording Business TransaCtions 58
The Acco,'nt- the T.edqer- and the in,,rnnl 6O
the Account, the Ledger, and the Journal 60
Assets 60
Liabilities 61
Owner's Equity 62
Chart of Accounts 62
Double-Entry Accounting 64
J 8
al m )
foe T-Account 64
Increases and Decreases in the Accounts 64
Recording Transactions in the Journal 66
Posting (Copying information) from the Journal to the Ledger 67
Expanding the Rules of Debit and Credit: Revenues and Expenses 67
al Normal Balance of an Account 69
foe Normal Balance of an Account 69
IX
x Contents
ac al c 1. ac
foe Flow of Accounting Data 69
source Documents 70
source Documents 70
Journalizing Transactions and Posting to the Ledger 70
al T I I
foe Ledger Accounts After Posting 76
al m. 1 P I -7
foe Trial Balance 76
Correcting Trial Balance Errors 78
Details of lournals and Ledgers 78
,ournals and Ledgers 78
Details in the Journal 78
Details in the Ledger 79
al n
l he Four-Column Account: An Alternative to the T-Account 80
Recording Transactions from Actual Business Documents 80
. Decision Guidelines 82
* .Summary Pro6lern 83
y Pro6lern 83
Review and Assignment Material 87
* Cd.apter 2 De.mo Doc: De~dit TransaCtion Analal t 14
3The Adjusting Process IZ4
AccountinZ ConceDts and PrinciDles 126
o pts and Principles 126
Acornal Accounting Versus Cash-Basis Accounting 126
al 4. D. 1 1,7
l he Accounting Period 127
al n D,.. 1,, R
l he Revenue Principle 128
ale r i. n.. 1 4, Q
foe Matching Principle 129
al m' D. I n 1,Q
l he Time-Period Concept 129
Adiusting the Accounts 130
Prepaids and Acornals 131
Prepaid Expenses 131
Depreciation 133
Accrued Expenses 136
Accrued Revenues 138
Unearned Revenues 138
qummar\r of the AdiustinZ Process 139
summary of the Adiusting Process 139
y of the Adjusting Process 139
m' A 1. I m. I n i, 4 1
Yhe Adjusted Trial Balance 143
al v.. I <,, 4 4
foe Financial Statements 144
Preparing the Statements 144
Relationships Among the Financial Statements 144
Ethical Issues in Acornal Accounting 146
. Decision Guidelines 147
* sa.mma.ry Problem t48
y Problem t48
Review and Assignment Material 152
CHAPTER A PPENOIX 3A: Alternative Treatment of Prepaid EXpenses and
Unearned Revenues 179
k C.hapter 3 Demo Doc: Preparation of Adj+usting Entries, Adjusted Trial balance., and
Finan+Cial StstementS,83
Contents xi
4Completing the Accounting Cycle 194
The AccountinZ Cycle 196
6 7
m, IVT,
foe WOrk Sheet 197
k Summary Problem 1 200
y Problem 1 200
Completing the Accounting Cycle 202
Preparing the Financial Statements 203
Recording the Adjusting Entries 203
Closing the Accounts 204
Postclosing Trial Balance 206
Classifying Assets and Liabilities 207
ying Assets and Liabilities 207
Assets 207
Liabilities 208
FI
foe Classified Balance Sheet 208
Balance Sheet Forms 208
Accounting Ratios 210
Current Ratio 210
Debt Ratio 210
. Decision Guidelines 211
k summary Pro6lem 2 212
y Pro6lem 2 212
Review and Assignment Material 216
CHAPTER APPENOIX 4A: Reversinq Entries: An Optional step 239
s Entries: An Optional step 239
Comorehensive PrO6Iem for ChaDters 1-4 242
prehensive PrO6Iem for Chapters 1-4 242
* Chapter 4 Demo Doc: Accounting Work sheets and Closing Entries 244
pier 4 Demo Doc: Accounting Work sheets and Closing Entries 244
5Merchandising Operations 252
What Are Merchandising Operations? 255
FI
foe Operating Cycle of a Merchandising Business ZSS
.
Inventory Systems: PerDetual and Periodic ZSS
J yatems: Perpetual and Periodic ZSS
Perpetual inventory Systems 256
Accounting for inventory in the Perpetual System 256
Purchase of inventory 257
j -J 7
bale of inventorers60
bale of inventory 260
J
Raies Revenue, Cost of Goods Sold, and Gross Profit 264
bales Revenue, Cost of Goods Sold, and Gross Profit 264
k Summary Pro6lem t 265
y Pro6lem t 265
Adiusting and Closing the Accounts of a Merchandiser 267
,usting and Closing the Accounts of a Merchandiser 267
Adiusting inventory Based on a Physical Count 267
,usting inventory Based on a Physical Count 267
Closing the Accounts of a Merchandiser 268
Preparing a Merchandiser's Financial Statements 269
Income Statement Formats: Multi-Step and Single-Step 269
m o ~.
fWo Ratios for Decision Making 271
8 271
FI
foe Gross Profit Percentage 272
al o ac
foe Rate of inventory Turnover 272
7.
Cost of Goods Sold in a Periodic inventory System 273
J '.tern 273
-
Xll Contents
. Decision Guidelines 275
k Summary Problem 2 276
y Problem 2 276
CHAPTER APPENOIX SA: Work Sheet for a Merchandising Business 279
Review and Assignment Material 281
CHAPTER APPENDIX SB: Accountinq for Merchandise in a
H for Merchandise in a
Periodic inventory SWtem 304
ysystem 304
Comprehensive Pro6lem for Chaoters 1-5 308
prehensive Pro6lem for Chapters 1-5 308
6Merchandise inventory 31O
Inventory CostinZ Methods 312
, a,viethods 312
Inventory Costing in a Perpetual System 315
' a in a Perpetual System 315
First-In, First-Out (FIFO) Method 3iS
Last-In, First-Out (LIFO) Method 317
Average-Cost Method 318
Comparing FIFO, LIFO, and Average Cost 320
k Summary Problem 1 32t
y Problem 1 32t
Accounting Principles and inventories 324
Other inventory Issues 325
y Issues 325
Lower-of-Cost-or-Market Rule 325
Effects of inventory Errors 325
J
Ethical Issues 326
Estimating Ending inventory 328
. Decision Guidelines 329
k summary Problem 2 33o
y Problem 2 33O
Review and Assignment Material 331
CHAPTER APPENOIX 6A: Accountinq for inventory in a Periodic SWtem 346
H for inventory in a Periodic SyStem 346
7Accounting information Systems 352
- ~ - - - - - ~ - - ~ ~ ~
An Effective Accounting information System 354
a information System 354
Components of a Computerized System 3SS
How Computerized and Manual Systems WOrk 355
Designing a System: The Chart of Accounts 356
Processing Transactions: Manual and Menu-Driven Systems 357
Enterprise Resource Planning (ERP) Systems 358
Integrated Accounting Software: Spreadsheets 358
special lournals 360
special Journals 360
qDecial lournals in a Manual Sxrstem 360
special Journals in a Manual System 360
.
al q I T 1 2
foe Sales lournal 361
Journal 361
Using Documents as Journals 363
FI
l he Cash Receipts Journal 364
al D, I T I, X
foe Purchases lournal 366
Journal 366
FI
] he Cash Payments Journal 368
yments Journal 368
FI n I c,
foe Role of the General lournal 370
,ournal 370
FI
l he Credit Memo--Recording Sales Returns and Allowances 370
al ac 1. Memo--Recordinl D, I O I d 11,,
l he Debit Memo--Recording Purchase Returns and Allowances 371
Balancing the Ledgers 372
Contents xiii
Blending Computers and Special Journals 372
. Decision Guidelines 373
* summa.ry Prob.lem 3.74
y Prob.lem 3.74
Review and Assignment Material 378
Comprehensive Problem for Chaoters 1-7 403
prehensive Problem for Chapters 1-7 403
8Internal control and cash 406
Internal Control 408
The Sarbanes-Oxley Account (SOX) 408
y Account (SOX) 408
The Components of internal Control 409
Internal Control Procedures 411
Internal Controls for E-Commerce 414
The Limitations of internal Control--Costs and Benefits 415
The Bank Account as a Control Device 416
The Bank Reconciliation 417
Preparing the Bank Reconciliation 418
Online Banking 421
k summary Problem t 423
y Problem t 423
Internal Control over Cash Receipts 425
Internal Control over Cash Payments 426
yments 426
Controls over Payment by Check 426
yment by Check 426
Controlling Petty Cash Payments 428
Reporting Cash on the Balance Sheet 430
Ethics and Accounting 431
Corporate and Professional Codes of Ethics 431
Ethical Issues in Accounting 431
. Decision Guidelines 433
k Summary Pro6lem 2 434
y Pro6lem 2 434
Review and Assignment Material 435
9Receivables 454
ReceivnhleR! An introd,,ction 4F6
Receivables: An introduction 456
Types of Receivables 456
Establishing internal Control over Collection of Receivables 457
Managing the Collection of Receivables: The Credit Department 458
. Decision Guidelines 459
Accounting for Uncollectibles (Bad Debts) 460
The Allowance Method 460
Estimating Uncollectibles 461
Writing Off Uncollectible Accounts 464
The Direct Write-Off Method 465
Recovery of Accounts Previously Written Off 465
Y y theitten Off 465
Credit-Card, Bankcard, and Debit-Card Sales 466
Credit-Card Sales 466
Bankcard Sales 467
Debit-Card Sales 467
Xlv Contents
k Summary Problem 1 468
y Problem 1 468
Notes Receivable: An Overview 470
Identifying Maturity Date 470
ying Maturity Date 470
Computing interest on a Note 471
Accounting for Notes Receivable 472
Recording Notes Receivable--Three Cases 472
Accruing interest Revenue 473
Dishonored Notes Receivable 473
Reporting Receivables on the Balance Sheet 474
Computers and Accounts Receivable 474
Using Accounting information for Decision Making 474
Acid-Test (or Quick) Ratio 475
Days' Sales in Receivables 476
' a bales in Receivables 476
. Decision Guidelines 477
k Summary Problem 2 478
y Problem 2 478
Review and Assignment Material 479
CHAPTER APPENDIX gA: Oiscountinq a Note Receivable 502
H a Note Receivable 502
1 0 22::t:2t.':,, 504
a the Cost of a Plant Asset 506
Land and Land Improvements 507
Buildings 508
Machinery and Eouipment 508
y and Equipment 508
Furniture and Fixtures 508
A Lump-Sum (Basket) Purchase of Assets 508
Capital Expenditures 509
Depreciation 510
Causes of Depreciation 511
Measuring Depreciation 511
Depreciation Methods 511
Comparing Depreciation Methods 514
k summary Problem 1 517
y Problem 1 517
Other Issues in Accounting for Plant Assets 519
Depreciation and income Taxes 519
Depreciation for Partial Years 519
Changing the Useful Life of a Depreciable Asset 519
Using Fully-Depreciated Assets 521
Disposing of a Plant Asset 521
Accounting for Natural Resources 524
Accounting for intangible Assets 525
Rriecific intanZibles 52s
specific intangibles 525
Accounting for Research and Development Costs 527
Ethical Issues 528
. Decision Guidelines 529
* Summary Problem 2 530
y Problem 2 530
Review and Assignment Material 531
Contents xv
1 1 ===:::?=::?z"':,,,.,
Accounts Payable SSO
,able sso
short-Term Notes Palrable SKI
abort-Term Notes Payable SKI
yable SKI
cafes Tax Palrqble SSZ
bales Tax Payable SSZ
,able ssZ
Current Portion of Long-Term Notes Payable SSZ
Accrued Expenses (Accrued Liabilities) SS3
Unearned Revenues SS3
Current Liabilities That Must Be Estimated 554
Estimated Warranty Payable SS4
y Payable SS4
Contingent Liabilities SSS
Decision Guidelines 556
* summary Problem 1 557
y Problem 1 557
Accounting for Payroll 558
Gross Pay and Net (Take-Home) Pay SSS
, and Net (Take-Home) Pay SSS
Payroll Withholding Deductions SSg
J a Deductions SSg
EmDloyer Payroll Taxes 561
ployer Payroll Taxes 561
Payroll Accounting 562
J & J62
al n. 11 C e
foe Payroll System 563
J,.tem 563
Payroll Record 563
,roll Record 563
Payroll Checks 564
,roll Checks s64
Earnings Record 564
Paving the Payroll 564
j lug the Payroll s64
Internal Control over Payroll 567
j.
Reporting Current Liabilities 568
Ethical Issues in Reporting Liabilities 568
. Decision Guidelines 569
* Summary Pro6lem 2 570
y Pro6lem 2 570
Review and Assignment Material 572
Comorehensive Problem for Chaoters 8-11 592
prehensive Problem for Chapters 8-11 592
. 2 27ic'of.,"',',. 596
P 596
al Iv!,. I
foe Written Agreement 596
Limited Life 597
Mutual Agency 597
Unlimited Liability 597
y J97
Co-Ownership of Property 597
No Partnership income Tax 597
Partners' Capital Accounts 597
m c n. t. cOo
fvpes of PartnershiDS 598
ypes of Partnerships 598
General Partnership 598
Limited Partnership 598
Limited Liability ComDany (LLC) 599
J pany (LLC) 599
< CorDoration 599
a Corporation 599
al Q, T T C n. t.
foe Start-Up of a Partnership 600
Qhoririrr Profits and Losses. on 1 1
.haring Profits and Losses, and Partner Drawings 601
a Profits and Losses, and Partner Drawings 601
xvi Contents
RharinZ Based on a Stated Fraction 601
charing Based on a Stated Fraction 601
RharinZ Based on CaDital Balances and on Service 602
charing Based on Capital Balances and on Service 602
Partner Drawings of Cash and Other Assets 603
Admission of a Partner 604
Admission by Purchasing a Partner's interest 604
J b a Partner's interest 604
Admission by investinZ in the PartnershiD 606
J b in the Partnership 606
Withdrawal of a Partner 608
Revaluation of Assets 609
Withdrawal at Book Value 610
Withdrawal at Less Than Book Value 610
Withdrawal at More Than Book Value 611
Death of a Partner 611
Liquidation of a Partnership 611
bale of Assets at a Gain 612
bale of Assets at a Gain 612
able of Assets at a Loss 613
bale of Assets at a Loss 613
Partnership Financial Statements 614
. Decision Guidelines 615
k summary Problem 617
y Problem 617
Review and Assignment Material 619
1 3 2r77"t, 7,,,. and the Balance Sheet 636
Characteristics of a Corporation 638
Organizing a Corporation 639
Capital Stock 640
stockholders' Eauitl! Relics 641
stockholders' Equity Basics 641
Paid-In Capital Comes from the Stockholders 642
Retained Earnings Come from Profitable Operations 642
A Corporation May Pay Dividends to the Stockholders 644
stockholders' RiZhts 644
stockholders' Rights 644
Classes of Stock 644
Issuing Stock 645
Issuing Common Stock 645
Issuing Preferred Stock 649
Ethical Considerations 649
Review of Accounting for Paid-In Capital 649
Decision Guidelines 651
k Summary Pro6lem 1 652
y Pro6lem 1 652
Accounting for Cash Dividends 654
Dividend Dates 654
Declaring and Paying Dividends 654
Dividing Dividends Between Preferred and Common 655
Dividends on Cumulative and Noncumulative Preferred 656
Different Values of Stock 657
Market Value 657
Book Value 657
Evaluating Operations 658
Rate of Return on TOtal Assets 659
Contents xvii
Rate of Return on Common Stockholders' Equity 659
Accounting for income Taxes by Corporations 660
. Decision Guidelines 662
k summary Pro6lem 2 663
y Pro6lem 2 663
Review and Assignment Material 665
1 4 Corporations: =:E,,=, and the Income
Retained Earnings, Stock Dividends, and Stock Splits 690
Retained Earnings 690
clock Dividends 691
stock Dividends 691
stOCk SDlitS 693
stock Splits 693
stock Dividends and Stock SDlits ComDared 694
stock Dividends and Stock Splits Compared 694
m C I
freasury Stock 694
7
Purchase of Treasury Stock 694
7 stock 694
m G' I P.
freasury Stock Basics 695
J
able of Treasurlr stock 696
bale of Treasury Stock 696
J
Other Stockholders' Equity Issues 697
Retirement of Stock 697
Restrictions on Retained Earnings 697
Variations in Reporting Stockholders' Equity 699
Decision Guidelines 700
* summary Problem 1 7OI
y Problem 1 7OI
al n T C -nl
foe Corporate income Statement 703
Continuing Operations 703
CDecial items 703
special items 703
Earnings per Share 705
statement of Retained EarninZc 707
statement of Retained Earnings 707
Combined Statement of income and Retained Earnings 707
Prior-Period Adjustments 708
Reporting Comprehensive income 708
. Decision Guidelines 710
k Summary Problem 2 711
y Problem 2 711
Review and Assignment Material 713
1 5:=7=:,2"',7. 732
m c p 1 77'
fypes of Bonds 734
,pos of Bonds 734
Bond Prices 735
Present Value 736
Bond interest Rates 737
Issuing Bonds Payable to Borrow Money 737
Issuing Bonds Payable at Maturity (Par) Value 738
Issuing Bonds Payable at a Discount 738
Decision Guidelines 741
k summary Problem 1 742
y Problem 1 742
Issuing Bonds Payable at a Premium 743
- -
xvill Contents
Additional Bond TOpics 744
Adiusting Entries for Bonds Payable 744
,usting Entries for Bonds Payable 744
Issuing Bonds Payable Between interest Dates 745
Retirement of Bonds Payable 746
j
Convertible Bonds Payable 747
yable 747
Reporting Liabilities on the Balance Sheet 747
Advantages and Disadvantages of Issuing Bonds Versus Stock 748
. Decision Guidelines 750
* summary Pro6lem 2 75t
y Pro6lem 2 75t
Review and Assignment Material 753
CHAPTER APPENDIX 1 SA: The Time Value of Money:
Present Value of a Bond and Effective-Interest Amortization 771
COmorehensive PrO6Iem for Chaoters 13-15 781
prehensive PrO6Iem for Chapters 13-15 781
1 6 TheStatement of Cash Flows 782
Introduction: The Statement of Cash Flows 784
Cash Equivalents 785
Operating, Investing, and Financing Activities 785
m v c
fWo Formats for Operating Activities 786
Preparing the Statement of Cash Flows by the indirect Method 787
Cash Flows from Operating Activities 788
Cash Flows from investing Activities 792
Cash Flows from Financing Activities 793
Noncash investing and Financing Activities 795
Measuring Cash Adequacy: Free Cash Flow 796
. Decision Guidelines 797
k summary Problem 798
y Problem 798
Review and Assignment Material 801
CHAPTER APPENOIX 1 6A: Preparing the statement of Cash Flows
by the Oirect Method 828
y the Oirect Method 828
. Decision Guidelines 836
k summary Pro6lem 837
y Pro6lem 837
CHAPTER APPENOIX 1 6B: Preparing the statement of Cash Flows
Usinq a spreadsheet 840
s a spreadsheet 840
1 7 MsotZe"=^,,.,,,, 846
y31s 849
Horizontal Analysis 849
731s 849
Illustration: Google inc. 850
Horizontal Analysis of the income Statement 851
ysis of the income Statement 851
Horizontal Analysis of the Balance Sheet 851
ysis of the Balance Sheet 851
m I D
frend Percentages 852
Vertical Analysis 852
731s 852
Illustration: Google inc. 853
How Do We Compare One Company with Another? 853
Contents xix
Benchmarking 854
Benchmarking Against a Key Competitor 855
Benchmarking Against the industry Average 856
k summary Pro6lem t 857
y Pro6Iem t 857
Using Ratios to Make Decisions 859
Measuring Ability to Pay Current Liabilities 859
Measuring Ability to Sell inventory and Collect Receivables 861
Measuring Ability to Pay Long-Term Debt 863
Measuring Profitability 864
Analyzing Stock investments 866
yiing Stock investments 866
Red Flags in Financial Statement Analysis 868
. Decision Guidelines 869
k Summary Pro6lem 2 871
y Pro6Iem 2 871
Review and Assignment Material 873
Comorehensive PrO6Iem for Chaoters 16 and 17 B96
prehensive PrO6Iem for Chapters 16 and 17 B96
Appendix A: Amazon.com Annual Report A-1
Appendix B: Investments and international Operations B-1
Appendix C: Present Value Tables C-1
Appendix D: Check Figures D-1
Photo Credits PC-1
Glindex G-1
Company index I-1
