Intermediate Accounting, 18th Edition – Test bank

Intermediate Accounting, 18th Edition – Test bank

Table of contents for Intermediate Accounting Test bank

1 The Environment and Conceptual Framework of Financial Reporting

• 1.1 Financial Reporting Environment 1-2
• 1.2 Conceptual Framework 1-11
• 1.3 Assumptions and Principles 1-18
• 1.4 Major Challenges in Financial Reporting 1-27
• Analytics in Action Big Data for Big Decisions 1-30

2 The Accounting Information System

• 2.1 Accounting Information System 2-2
• 2.2 Analyze and Record Business Transactions 2-8
• Analytics in Action This System Is Full of Data 2-19
• 2.3 Adjusting Entries 2-23
• 2.4 Preparing Financial Statements 2-37
• 2.5 Financial Statements for a Merchandising Company 2-45
• Appendix 2A: Cash-Basis Accounting versus Accrual-Basis Accounting 2-48
• Appendix 2B: Using Reversing Entries 2-54
• Appendix 2C: Using a Worksheet: The Accounting Cycle Revisited 2-56

3 Income Statement, Related Information, and Revenue Recognition

• 3.1 Income Statement 3-2
• Analytics in Action Income Statement Dashboards 3-8
• 3.2 Reporting Special Income Items 3-11
• 3.3 Stockholders’ Equity Statements 3-19
• 3.4 Revenue Recognition—The Fundamentals 3-21
• 3.5 Quality of Earnings 3-29
• Appendix 3A: Accounting Changes and Errors 3-33

4 Balance Sheet and Statement of Cash Flows

• 4.1 Balance Sheet 4-1
• 4.2 Statement of Cash Flows 4-16
• Appendix 4A: Additional Information 4-26
• Appendix 4B: Ratio Analysis—A Reference 4-33

5 Accounting and the Time Value of Money

• 5.1 Basic Time Value Concepts 5-2
• 5.2 Single-Sum Problems 5-8
• 5.3 Annuities (Future Value) 5-14
• 5.4 Annuities (Present Value) 5-21
• 5.5 Other Time Value of Money Issues 5-27
• Analytics in Action Using Present Value for Investment Analysis 5-31
• Appendix 5A: Technology Tools for Time Value of Money Problems 5-34
• Time Value of Money Tables 5-60

6 Cash and Receivables

• 6.1 Cash 6-1
• 6.2 Receivables 6-6
• 6.3 Valuation of Accounts Receivable 6-13
• Analytics in Action Predicting the Future 6-19
• 6.4 Notes Receivable 6-20
• 6.5 Other Issues 6-28
• Appendix 6A: Cash Controls 6-36
• Appendix 6B: Collectibility Assessment Based on Expected Cash Flows 6-42

7 Valuation of Inventories: A Cost-Basis Approach

• 7.1 Inventory Issues 7-2
• 7.2 Goods and Costs Included in Inventory 7-8
• 7.3 Which Cost Flow Assumption to Adopt? 7-14
• 7.4 Special Issues Related to LIFO 7-24
• 7.5 Effect of Inventory Errors 7-32
• Analytics in Action Inventory Matters 7-35

8 Inventories: Additional Valuation Issues

• 8.1 Lower-of-Cost-or-Net Realizable Value 8-2
• 8.2 Lower-of-Cost-or-Market 8-7
• Analytics in Action Role of Big Data in Inventory 8-11
• 8.3 Other Valuation Approaches 8-13
• 8.4 The Gross Profit Method of Estimating Inventory 8-19
• 8.5 Retail Inventory Method 8-22
• 8.6 Presentation and Decision Analysis 8-31

9 Acquisition and Disposition of Property, Plant, and Equipment

• 9.1 Property, Plant, and Equipment 9-2
• 9.2 Interest Costs During Construction 9-10
• 9.3 Valuation of Property, Plant, and Equipment 9-16
• 9.4 Costs Subsequent to Acquisition 9-26
• 9.5 Disposition of Property, Plant, and Equipment 9-32
• Analytics in Action Capital Expenditure Trends 9-34
• Appendix 9A: Accounting for Contributions 9-35

10 Depreciation, Impairments, and Depletion

• 10.1 Depreciation—A Method of Cost Allocation 10-2
• 10.2 Impairments 10-15
• 10.3 Depletion 10-20
• 10.4 Presentation and Decision Analysis 10-25
• Analytics in Action A Better Way to Estimate 10-28
• Appendix 10A: Income Tax Depreciation 10-29

11 Intangible Assets

• 11.1 Intangible Asset Issues 11-2
• 11.2 Types and Presentation of Intangible Assets 11-8
• 11.3 Goodwill 11-17
• Analytics in Action Goodwill Hunting? 11-21
• 11.4 Research and Development Costs 11-25

12 Current Liabilities and Contingencies

• 12.1 Current Liabilities 12-2
• 12.2 Unearned Revenues 12-14
• 12.3 Contingencies 12-19
• 12.4 Presentation and Decision Analysis 12-29
• Analytics in Action Current Ratio Analysis Can Lead to Innovation 12-34

13 Long-Term Liabilities

• 13.1 Bonds Payable 13-2
• 13.2 Extinguishment of Debt 13-17
• 13.3 Long-Term Notes Payable 13-19
• 13.4 Reporting and Analyzing Liabilities 13-28
• Analytics in Action Helping to Put Debt into Perspective 13-34
• Appendix 13A: Troubled-Debt Restructuring 13-34

14 Stockholders’ Equity

• 14.1 Corporate Capital 14-2
• 14.2 Reacquisition of Shares 14-17
• 14.3 Dividend Policy 14-24
• 14.4 Presentation and Decision Analysis of Stockholders’ Equity 14-36
• Analytics in Action Track Those Ratios! 14-40
• Appendix 14A: Dividend Preferences and Book Value per Share 14-40

15 Dilutive Securities and Earnings per Share

• 15.1 Dilutive Securities 15-2
• 15.2 Stock Warrants 15-7
• 15.3 Stock Compensation Plans 15-11
• 15.4 Basic Earnings per Share 15-23
• 15.5 Diluted Earnings per Share 15-28
• Analytics in Action Earnings per Share versus Net Income 15-37
• Appendix 15A: Accounting for Stock-Appreciation Rights 15-39
• Appendix 15B: Comprehensive Earnings per Share Example 15-42

16 Investments

• 16.1 Investments in Debt Securities 16-1
• 16.2 Investments in Equity Securities 16-14
• 16.4 Other Financial Reporting Issues 16-23
• Analytics in Action Risky Retirement 16-33
• Appendix 16A: Accounting for Derivative Instruments 16-34
• Appendix 16B: Fair Value Disclosures 16-50

17 Revenue Recognition

• 17.1 Fundamentals of Revenue Recognition 17-2
• 17.2 The Five-Step Process Revisited 17-6
• 17.3 Accounting for Revenue Recognition Issues 17-21
• Analytics in Action Are You Going to Keep That? 17-23
• 17.4 Presentation and Disclosure 17-34
• Appendix 17A: Long-Term Construction Contracts 17-39
• Appendix 17B: Revenue Recognition for Franchises 17-51

18 Accounting for Income Taxes

• 18.1 Fundamentals of Accounting for Income Taxes 18-2
• 18.2 Additional Considerations 18-15
• 18.3 Accounting for Net Operating Losses 18-23
• 18.4 Financial Statement Presentation 18-30
• Analytics in Action Visualizing Taxes 18-36
• Appendix 18A: Comprehensive Example of Interperiod Tax Allocation 18-38
• Appendix 18B: Accounting for Net Operating Loss Carrybacks 18-44

19 Accounting for Pensions and Postretirement Benefits

• 19.1 Fundamentals of Pension Plan Accounting 19-2
• 19.2 Using a Pension Worksheet 19-12
• 19.3 Prior Service Cost (PSC) 19-16
• 19.4 Gains and Losses 19-20
• 19.5 Reporting Pension Plans in Financial Statements 19-29
• Analytics in Action Pension De-Risking 19-37
• Appendix 19A: Accounting for Postretirement Benefits 19-39

20 Accounting for Leases

• 20.1 The Leasing Environment 20-2
• 20.2 Accounting for Finance Leases 20-12
• 20.3 Accounting for Operating Leases 20-22
• 20.4 Special Lease Accounting Problems 20-29
• Appendix 20A: Sale-Leasebacks 20-41
• Appendix 20B: Direct Financing Lease (Lessor) 20-45

21 Accounting Changes and Error Analysis

• 21.1 Accounting Changes 21-1
• 21.2 Other Accounting Changes 21-14
• 21.3 Accounting Errors 21-18
• 21.4 Error Analysis 21-25
• Appendix 21A: Changing from or to the Equity Method 21-36

22 Statement of Cash Flows

• 22.1 Overview of Statement of Cash Flows 22-2
• 22.2 Preparing the Statement of Cash Flows 22-6
• 22.3 Net Cash Flow from Operating Activities—Direct Method 22-19
• 22.4 Special Problems in Statement Preparation 22-26
• Analytics in Action Cash Flow Analysis 22-35
• 22.5 Use of a Worksheet 22-37

23 Full Disclosure in Financial Reporting

• 23.1 Full Disclosure Principle 23-2
• 23.2 Disclosure Issues 23-7
• 23.3 Auditor’s and Management’s Reports 23-22
• 23.4 Current Reporting Issues 23-29
• Appendix 23A: Basic Financial Statement Analysis 23-34

Appendix A Private Company Accounting A-1

• A.1 The Private Company Council (PCC) A-1
• A.2 Private Company Alternatives for Intangible Assets and Goodwill A-2
• A.3 Summary A-6

• Appendix B Specimen Financial Statements: The Procter & Gamble Company B-1
• Appendix C Specimen Financial Statements: The Coca-Cola Company C-1
• Appendix D Specimen Financial Statements: PepsiCo, Inc. D-1
• Company Index
• Subject Index
• List of Accounts

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