CHAPTER 1 OVERVIEW OF ACCOUNTING Chapter Outlines Learning Objectives 1.1 Introduction to Accounting 1.2 Forms of Business Organizations 1.3 Underlying Assumptions of Accounting 1.4 Cash-Basis versus Accrual-Basis Accounting 1.5 The Elements of Financial Statements 1.6 The Accounting Equation Transaction Analysis Exercises CHAPTER 2 FINANCIAL STATEMENTS Chapter Outlines Learning Objectives 2.1 Purpose of Financial Statements 2.2 Basic Financial Statements 2.3 Income Statements 2.4 Statements of Financial Position 2.5 Statements of Changes in Equity 2.6 Interrelationships among Financial Statements Exercises CHAPTER 3 ANALYZING AND RECORDING TRANSACTIONS Chapter Outlines Learning Objectives 3.1 What Is an Account 3.2 Chart of Accounts 3.3 Double-Entry Accounting 3.4 Journals and Ledgers 3.5 Recording Business Transactions 3.6 Preparing a Trial Balance Exercises CHAPTER 4 ADJUSTING ENTRIES Chapter Outlines Learning Objectives 4.1 The Need for Adjusting Entries 4.2 Classification of Adjusting Entries 4.3 Prepaid Expenses 4.4 Depreciation Expense 4.5 Unearned Revenues 4.6 Accrued Expenses 4.7 Accrued Revenues Exercises CHAPTER 5 COMPLETING THE ACCOUNTING CYCLE Chapter Outlines Learning Objectives 5.1 Steps of the Accounting Cycle 5.2 Steps in Preparing a Worksheet for a Service Firm 5.3 Preparation of Financial Statements 5.4 Recording Closing Entries 5.5 Preparing a Post-Closing Trial Balance
Exercises CHAPTER 6 ACCOUNTING FOR MERCHANDISING BUSINESS Chapter Outlines Learning Objectives 6.1 Types of Businesses 6.2 Merchandising Operations 6.3 Two Systems to Account for Inventory:Perpetual and Periodic 6.4 Recording Transactions for Purchases 6.5 Recording Transactions for Sales 6.6 Adjusting and Closing Entries for Merchandising Business 6.7 Preparing Financial Statements for a Merchandising Business Exercises CHAPTER 7 VALUATION OF INVENTORIES Chapter Outlines Learning Objectives 7.1 Types of Inventories for Manufacturing Businesses 7.2 Inventory Costing Methods 7.3 Comparison of Inventory Costing Methods 7.4 Applying the Lower of Cost or Market Rule to Inventory 7.5 Inventory Estimation Methods Exercises CHAPTER 8 SAFEGUARDING CASH Chapter Outlines Learning Objectives 8.1 Cash Defined 8.2 Cash Controls over Receipts and Payments 8.3 Operation of the Petty Cash Fund 8.4 Preparation of Bank Reconciliation Exercises CHAPTER 9 ACCOUNTING FOR RECEIVABLES Chapter Outlines Learning Objectives 9.1 An Introduction to Receivables 9.2 Two Methods of Accounting for Bad Debts 9.3 Estimating Doubtful Debts under the Allowance Method 9.4 Write-off Bad Debts 9.5 Notes Receivables Exercises CHAPTER 10 FIXED ASSETS AND INTANGIBLE ASSETS Chapter Outlines Learning Objectives 10.1 An Overview of Fixed Assets 10.2 Determining the Cost of Fixed Assets 10.3 The Depreciation Concepts 10.4 Derecognition of Fixed Assets 10.5 Impairment of Fixed Assets 10.6 Intangible Assets Exercises CHAPTER 11 CURRENT LIABILITIES Chapter Outlines
Learning Objectives 11.1 Liabilities Defined and Classified 11.2 Current Liabilities 11.3 Provisions and Contingent Liabilities Exercises CHAPTER 12 SHAREHOLDERS' EQUITY Chapter Outlines Learning Objectives 12.1 Types of Companies 12.2 How to Launch a Corporation 12.3 Main Categories of Shareholders' Equity 12.4 Different Forms of Shares and Stock Market Indexes 12.5 Issuing Shares 12.6 Accounting for Treasury Shares 12.7 Retained Earnings 12.8 Accounting for Cash Dividends 12.9 Accounting for Share Dividends 12.10 Share Split Exercises
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