Survey of Accounting

Provide future business professionals with a practical introduction to financial and managerial accounting without the use of debits and credits. With its unique focus on building students' decision-making skills and emphasis on financial statements, Survey of Accounting, 3rd Edition meaningfully integrates data analytics and the importance of using accounting information in real-world decision-making. Adaptive practice opportunities and engaging real-world industry examples and videos strengthen student understanding of accounting concepts and illustrate how these are relevant to their everyday lives and future careers in business and accounting.

1 Introduction to Financial Statements 1-1

Knowing the Numbers: Columbia Sportswear Company 1-1

1.1 Business Organization and Accounting Information Uses 1-2

1.2 The Three Types of Business Activity 1-8

1.3 The Four Financial Statements 1-11

2 A Further Look at the Balance Sheet 2-1

Just Fooling Around?: The Motley Fool 2-2

2.1 The Classified Balance Sheet 2-2

2.2 Analyzing the Balance Sheet Using Ratios 2-8

3 The Accounting Information System 3-1

Accidents Happen: MF Global Holdings Ltd 3-1

3.1 Financial Reporting Concepts 3-2

3.2 Using the Accounting Equation to Analyze Transactions 3-8

4 Accrual Accounting Concepts 4-1

Keeping Track of Groupons: Groupon 4-1

4.1 Accrual-Basis Accounting and Adjustments 4-2

4.2 Adjustments for Deferrals 4-8

4.3 Adjustments for Accruals 4-15

4.4 Preparing Financial Statements 4-21

5 Fraud, Internal Control, and Cash 5-1

Minding the Money in Madison: Barriques 5-1

5.1 Fraud and Internal Control 5-3

5.2 Cash Controls 5-12

5.3 Control Features of a Bank Account 5-17

5.4 Reporting Cash 5-26

6 Merchandising Operations and the Multiple-Step Income Statement 6-1

Buy Now, Vote Later: REI 6-1

6.1 Merchandising Operations and Inventory Purchases 6-2

6.2 Recording Sales Under a Perpetual Inventory System 6-9

6.3 Multiple-Step Income Statement 6-13

6.4 Gross Profit Rate and Profit Margin 6-17

7 Reporting and Analyzing Inventory and Receivables 7-1

"Where Is That Spare Bulldozer Blade?": Caterpillar 7-1

7.1 Classifying and Determining Inventory 7-3

7.2 Inventory Methods and Financial Effects 7-6

7.3 Reporting Receivables 7-15

7.4 Inventory Presentation and Analysis 7-23

8 Reporting and Analyzing Long-Lived Assets 8-1

A Tale of Two Airlines: American Airlines 8-1

8.1 Plant Asset Expenditures 8-3

8.2 Depreciation Methods 8-8

8.3 Plant Asset Disposals 8-16

8.4 Intangible Assets 8-18

8.5 Statement Presentation and Analysis 8-23

9 Reporting and Analyzing Liabilities and Stockholders' Equity 9-1

And Then There Were Two: Maxwell Car Company 9-1

9.1 Accounting for Current Liabilities 9-3

9.2 Accounting for Bond Transactions 9-9

9.3 Accounting for Common, Preferred, and Treasury Stock 9-15

9.4 Accounting for Cash Dividends 9-24

9.5 Presentation and Analysis of Stockholders’ Equity 9-28

10 Financial Analysis: The Big Picture 10-1

It Pays to Be Patient: Warren Buffett 10-2

10.1 Sustainable Income and Quality of Earnings 10-3

10.2 Horizontal Analysis and Vertical Analysis 10-9

10.3 Ratio Analysis 10-15

11 Managerial Accounting 11-1

Just Add Water … and Paddle: Current Designs 11-1

11.1 Managerial Accounting Basics 11-3

11.2 Managerial Cost Concepts 11-7

11.3 Manufacturing Costs in Financial Statements 11-12

11.4 Managerial Accounting Today 11-16

12 Job Order Costing 12-1

Profiting from the Silver Screen: Disney 12-1

12.1 Cost Accounting Systems 12-3

12.2 Assigning Manufacturing Costs 12-8

12.3 Predetermined Overhead Rates 12-13

12.4 Jobs Completed and Sold 12-16

12.5 Applied Manufacturing Overhead 12-22

13 Cost-Volume-Profit 13-1

Don't Worry--Just Get Big: Amazon.com 13-1

13.1 Cost Behavior Analysis 13-3

13.2 Mixed Costs Analysis 13-8

13.3 Cost-Volume-Profit Analysis 13-11

13.4 Break-Even Analysis 13-16

13.5 Target Net Income and Margin of Safety 13-20

14 Incremental Analysis 14-1

Keeping It Clean: Method Products 14-1

14.1 Decision-Making and Incremental Analysis 14-3

14.2 Special Orders 14-6

14.3 Make or Buy 14-8

14.4 Sell or Process Further 14-11

14.5 Repair, Retain, or Replace Equipment 14-14

14.6 Eliminate Unprofitable Segment or Product 14-16

15 Budgetary Planning 15-1

What's in Your Cupcake?: Erin McKenna's Bakery NYC 15-1

15.1 Effective Budgeting and the Master Budget 15-3

15.2 Sales, Production, and Direct Materials Budgets 15-8

15.3 Direct Labor, Manufacturing Overhead, and S&A Expense Budgets 15-14

15.4 Cash Budget and Budgeted Balance Sheet 15-18

15.5 Budgeting in Nonmanufacturing Companies 15-23

16 Budgetary Control and Responsibility Accounting 16-1

Pumpkin Madeleines and a Movie: The Roxy Hotel Tribeca 16-1

16.1 Budgetary Control and Static Budget Reports 16-3

16.2 Flexible Budget Reports 16-7

16.3 Responsibility Accounting and Responsibility Centers 16-14

16.4 Investment Centers 16-24

17 Standard Costs and Balanced Scorecard 17-1

80,000 Different Caffeinated Combinations: Starbucks 17-2

17.1 Overview of Standard Costs 17-3

17.2 Direct Materials Variances 17-8

17.3 Direct Labor and Manufacturing Overhead Variances 17-13

17.4 Variance Reports and Balanced Scorecards 17-18

18 Planning for Capital Investments 18-1

Floating Hotels: Holland America Line 18-2

18.1 Capital Budgeting and Cash Payback 18-3

18.2 Net Present Value Method 18-6

18.3 Capital Budgeting Challenges and Refinements 18-12

18.4 Internal Rate of Return 18-17

18.5 Annual Rate of Return 18-20

APPENDIX A Specimen Financial Statements: Apple Inc. A-1

APPENDIX B Specimen Financial Statements: Columbia Sportswear Company B-1

APPENDIX C Specimen Financial Statements: Under Armour, Inc. C-1

APPENDIX D Double-Entry Accounting System D-1

APPENDIX E Time Value of Money E-1

COMPANY INDEX / SUBJECT INDEX I-1

Available in the Wiley Online Course and Wiley Custom:

19 Statement of Cash Flows 19-1

Got Cash?: Microsoft 19-1

19.1 Usefulness and Format of the Statement of Cash Flows 19-3

19.2 Preparing the Statement of Cash Flows--Indirect Method 19-6

19.3 Analyzing the Statement of Cash Flows 19-18

APPENDIX F Activity-Based Costing F-1

APPENDIX G Cost-Volume-Profit Analysis: Additional Issues G-1

APPENDIX H Pricing H-1

Data Analytics and Pricing H-16

Data Analytics in Action H-27

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.