Advanced Accounting, Enhanced eText

Höfundar: Debra C. Jeter, Paul K. Chaney (Útgáfa: 8)
Advanced Accounting, Enhanced eText

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In the newly revised eighth edition of Advanced Accounting, a decorated team of accounting professionals delivers authoritative and comprehensive coverage of all three methods of consolidated financial reporting: cost, partial equity, and complete equity. This invaluable work compares and contrasts United States and international principles, drawing reader attention to enduring differences between the two frameworks.

The authors draw on their extensive experience with US and international accounting to connect advanced accounting methods to practical applications with challenging exercises that feature the financial statements of real-world companies. With a consistent focus on clarity and accessibility, the authors highlight current business news stories and their relevance to core concepts. Ideal for accounting majors seeking an insightful and robust exploration of complex accounting methods, Advanced Accounting also includes: The latest changes by the Financial Accounting Standards Board and the Governmental Accounting Standards Board Discussions of the tax consequences of a variety of business combinations New end-of-chapter materials with additional problems, exercises, and questions New "In the News" boxes with updated stories Updated tutorial videos and international comparisons Revised test bank questions.

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Útgefandi
Wiley Global Education US
ISBN
9781119794615
Print ISBN
9781119794653
Format
ePub
Útgáfa
8
Höfundar
Debra C. Jeter, Paul K. Chaney
Tungumál
English
Útgefið
2022-10-01
Prent takmörkun á líftíma
100

Kaflar

  • COVER
  • TITLE PAGE
  • COPYRIGHT
  • ABOUT THE AUTHORS
  • PREFACE
  • WHAT'S NEW IN THE TEXT?
  • OTHER HIGHLIGHTED FEATURES OF THE TEXT
  • SUPPLEMENTS
  • ACKNOWLEDGMENTS
  • 1 INTRODUCTION TO BUSINESS COMBINATIONS AND THE CONCEPTUAL FRAMEWORK
  • 1.1 GROWTH THROUGH MERGERS
  • 1.2 NATURE OF THE COMBINATION
  • 1.3 BUSINESS COMBINATIONS: WHY? WHY NOT?
  • 1.4 BUSINESS COMBINATIONS: HISTORICAL PERSPECTIVE
  • 1.5 TERMINOLOGY AND TYPES OF COMBINATIONS
  • 1.6 TAKEOVER PREMIUMS
  • 1.7 AVOIDING THE PITFALLS BEFORE (AND AFTER) THE DEAL
  • 1.8 DETERMINING PRICE AND METHOD OF PAYMENT IN BUSINESS COMBINATIONS
  • 1.9 ALTERNATIVE CONCEPTS OF CONSOLIDATED FINANCIAL STATEMENTS
  • 1.10 FASB'S CONCEPTUAL FRAMEWORK
  • SUMMARY
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • ASC EXERCISES:
  • NOTES
  • 2 ACCOUNTING FOR BUSINESS COMBINATIONS
  • 2.1 ACCOUNTING STANDARDS ON BUSINESS COMBINATIONS: CURRENT STATUS AND BACKGROUND
  • 2.2 ILLUSTRATION OF ACQUISITION ACCOUNTING
  • 2.3 BARGAIN PURCHASE ACCOUNTING ILLUSTRATION (PURCHASE PRICE BELOW FAIR VALUE OF IDENTIFIABLE NET ASSETS)
  • 2.4 MEASUREMENT PERIOD AND MEASUREMENT PERIOD ADJUSTMENTS
  • 2.5 GOODWILL IMPAIRMENT TEST
  • 2.6 CONTINGENT CONSIDERATION (EARNOUTS)
  • 2.7 PRO FORMA STATEMENTS AND DISCLOSURE REQUIREMENT
  • 2.8 LEVERAGED BUYOUTS
  • SUMMARY
  • APPENDIX 2A—DEFERRED TAXES IN BUSINESS COMBINATIONS
  • PROBLEM
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 3 CONSOLIDATED FINANCIAL STATEMENTS—DATE OF ACQUISITION
  • 3.1 DEFINITIONS OF SUBSIDIARY AND CONTROL
  • 3.2 REQUIREMENTS FOR THE INCLUSION OF SUBSIDIARIES IN THE CONSOLIDATED FINANCIAL STATEMENTS
  • 3.3 REASONS FOR SUBSIDIARY COMPANIES
  • 3.4 CONSOLIDATED FINANCIAL STATEMENTS
  • 3.5 INVESTMENTS AT THE DATE OF ACQUISITION
  • 3.6 CONSOLIDATED BALANCE SHEETS: THE USE OF WORKPAPERS
  • 3.7 A COMPREHENSIVE ILLUSTRATION—MORE THAN ONE SUBSIDIARY COMPANY
  • 3.8 LIMITATIONS OF CONSOLIDATED STATEMENTS
  • SUMMARY
  • APPENDIX 3A DEFERRED TAXES ON THE DATE OF ACQUISITION
  • APPENDIX 3B CONSOLIDATION OF VARIABLE INTEREST ENTITIES
  • EXERCISES
  • PROBLEM
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 4 CONSOLIDATED FINANCIAL STATEMENTS AFTER ACQUISITION
  • 4.1 ACCOUNTING FOR INVESTMENTS BY THE COST, PARTIAL EQUITY, AND COMPLETE EQUITY METHODS
  • 4.2 CONSOLIDATED STATEMENTS AFTER ACQUISITION—COST METHOD
  • 4.3 RECORDING INVESTMENTS IN SUBSIDIARIES—EQUITY METHOD (PARTIAL OR COMPLETE)
  • 4.4 ELIMINATION OF INTERCOMPANY REVENUE AND EXPENSE ITEMS
  • 4.5 INTERIM ACQUISITIONS OF SUBSIDIARY STOCK
  • 4.6 CONSOLIDATED STATEMENT OF CASH FLOWS
  • 4.7 ILLUSTRATION OF PREPARATION OF A CONSOLIDATED STATEMENT OF CASH FLOWS—YEAR OF ACQUISITION
  • SUMMARY
  • APPENDIX—4A DEFERRED TAX CONSEQUENCES WHEN AFFILIATES FILE SEPARATE INCOME TAX RETURNS—UNDISTRIBUTED INCOME
  • EXERCISE
  • PROBLEMS
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 5 ALLOCATION AND DEPRECIATION OF DIFFERENCES BETWEEN IMPLIED AND BOOK VALUES
  • 5.1 COMPUTATION AND ALLOCATION OF THE DIFFERENCE BETWEEN IMPLIED AND BOOK VALUES TO ASSETS AND LIABILITIES OF SUBSIDIARY—ACQUISITION DATE
  • 5.2 EFFECT OF DIFFERENCES BETWEEN IMPLIED AND BOOK VALUES ON CONSOLIDATED NET INCOME—YEAR SUBSEQUENT TO ACQUISITION
  • 5.3 CONSOLIDATED STATEMENTS WORKPAPER—USING THE COST METHOD
  • 5.4 CONTROLLING AND NONCONTROLLING INTERESTS IN CONSOLIDATED NET INCOME AND RETAINED EARNINGS—USING THE COST METHOD
  • 5.5 CONSOLIDATED STATEMENTS WORKPAPER—USING PARTIAL EQUITY METHOD
  • 5.6 CONTROLLING AND NONCONTROLLING INTERESTS IN CONSOLIDATED NET INCOME AND RETAINED EARNINGS—USING PARTIAL EQUITY METHOD
  • 5.7 CONSOLIDATED STATEMENTS WORKPAPER—USING COMPLETE EQUITY METHOD
  • 5.8 CONTROLLING INTEREST IN CONSOLIDATED NET INCOME AND RETAINED EARNINGS—USING COMPLETE EQUITY METHOD
  • 5.9 ADDITIONAL CONSIDERATIONS RELATING TO TREATMENT OF DIFFERENCE BETWEEN IMPLIED AND BOOK VALUES
  • 5.10 PUSH DOWN ACCOUNTING
  • SUMMARY
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 6 ELIMINATION OF UNREALIZED PROFIT ON INTERCOMPANY SALES OF INVENTORY
  • 6.1 EFFECTS OF INTERCOMPANY SALES OF MERCHANDISE ON THE DETERMINATION OF CONSOLIDATED BALANCES
  • 6.2 COST METHOD: CONSOLIDATED STATEMENTS WORKPAPER—UPSTREAM SALES
  • 6.3 COST METHOD—ANALYSIS OF CONSOLIDATED NET INCOME AND CONSOLIDATED RETAINED EARNINGS
  • 6.4 CONSOLIDATED STATEMENTS WORKPAPER—PARTIAL EQUITY METHOD
  • 6.5 PARTIAL EQUITY METHOD—ANALYSIS OF CONSOLIDATED NET INCOME AND CONSOLIDATED RETAINED EARNINGS
  • 6.6 CONSOLIDATED STATEMENTS WORKPAPER—COMPLETE EQUITY METHOD
  • 6.7 COMPLETE EQUITY METHOD—ANALYSIS OF CONSOLIDATED NET INCOME AND CONSOLIDATED RETAINED EARNINGS
  • 6.8 SUMMARY OF WORKPAPER ENTRIES RELATING TO INTERCOMPANY SALES OF INVENTORY
  • 6.9 INTERCOMPANY PROFIT PRIOR TO PARENT-SUBSIDIARY AFFILIATION
  • SUMMARY
  • APPENDIX 6A—DEFERRED TAXES AND INTERCOMPANY SALES OF INVENTORY
  • PROBLEMS
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 7 ELIMINATION OF UNREALIZED GAINS OR LOSSES ON INTERCOMPANY SALES OF PROPERTY AND EQUIPMENT
  • 7.1 INTERCOMPANY SALES OF LAND (NONDEPRECIABLE PROPERTY)
  • 7.2 INTERCOMPANY SALES OF DEPRECIABLE PROPERTY (MACHINERY, EQUIPMENT, AND BUILDINGS)
  • 7.3 CONSOLIDATED STATEMENTS WORKPAPER—COST AND PARTIAL EQUITY METHODS
  • 7.4 CALCULATION OF CONSOLIDATED NET INCOME AND CONSOLIDATED RETAINED EARNINGS
  • 7.5 CONSOLIDATED STATEMENTS WORKPAPER—COMPLETE EQUITY METHOD
  • 7.6 CALCULATION AND ALLOCATION OF CONSOLIDATED NET INCOME; CONSOLIDATED RETAINED EARNINGS: COMPLETE EQUITY METHOD
  • 7.7 SUMMARY OF WORKPAPER ENTRIES RELATING TO INTERCOMPANY SALES OF EQUIPMENT
  • 7.8 INTERCOMPANY INTEREST, RENTS, AND SERVICE FEES
  • SUMMARY
  • APPENDIX A—DEFERRED TAXES CONSEQUENCES RELATED TO INTERCOMPANY SALES OF EQUIPMENT
  • PROBLEMS
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 8 CHANGES IN OWNERSHIP INTEREST
  • 8.1 CHANGES IN OWNERSHIP
  • 8.2 PARENT ACQUIRES SUBSIDIARY STOCK THROUGH SEVERAL OPEN-MARKET PURCHASES—COST METHOD
  • 8.3 PARENT SELLS SUBSIDIARY STOCK INVESTMENT ON THE OPEN MARKET—COST METHOD
  • 8.4 EQUITY METHOD—PURCHASES AND SALES OF SUBSIDIARY STOCK BY THE PARENT
  • 8.5 PARENT SELLS SUBSIDIARY STOCK INVESTMENT ON THE OPEN MARKET
  • 8.6 SUBSIDIARY ISSUES STOCK
  • SUMMARY
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTE
  • 9 INSOLVENCY—LIQUIDATION AND REORGANIZATION
  • 9.1 CONTRACTUAL AGREEMENTS
  • 9.2 BANKRUPTCY
  • 9.3 LIQUIDATION (CHAPTER 7)
  • 9.4 REORGANIZATION UNDER THE REFORM ACT (CHAPTER 11)
  • 9.5 TRUSTEE ACCOUNTING AND REPORTING
  • 9.6 BANKRUPTCY PREDICTION MODELS
  • SUMMARY
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 10 INTERNATIONAL FINANCIAL REPORTING STANDARDS
  • 10.1 THE INCREASING IMPORTANCE OF INTERNATIONAL ACCOUNTING STANDARDS
  • 10.2 HISTORICAL PERSPECTIVE
  • 10.3 GAAP HIERARCHY—U.S. VERSUS IFRS
  • 10.4 SIMILARITIES AND DIFFERENCES BETWEEN U.S. GAAP AND IFRS
  • 10.5 BUSINESS COMBINATION AND CONSOLIDATION—U.S. GAAP VERSUS IFRS
  • 10.6 INTERNATIONAL CONVERGENCE ISSUES
  • SUMMARY
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 11 ACCOUNTING FOR FOREIGN CURRENCY TRANSACTIONS AND HEDGING FOREIGN EXCHANGE RISK
  • 11.1 EXCHANGE RATES—MEANS OF TRANSLATION
  • 11.2 MEASURED VERSUS DENOMINATED
  • 11.3 FOREIGN CURRENCY TRANSACTIONS
  • 11.4 USING FORWARD CONTRACTS AS A HEDGE
  • SUMMARY
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 12 TRANSLATION OF FINANCIAL STATEMENTS OF FOREIGN AFFILIATES
  • 12.1 ACCOUNTING FOR OPERATIONS IN FOREIGN COUNTRIES
  • 12.2 TRANSLATING FINANCIAL STATEMENTS OF FOREIGN AFFILIATES
  • 12.3 OBJECTIVES OF TRANSLATION
  • 12.4 TRANSLATION METHODS
  • 12.5 IDENTIFYING THE FUNCTIONAL CURRENCY
  • 12.6 TRANSLATION OF FOREIGN CURRENCY FINANCIAL STATEMENTS
  • 12.7 TRANSLATION OF FOREIGN FINANCIAL STATEMENTS ILLUSTRATED
  • 12.8 FINANCIAL STATEMENT DISCLOSURE
  • 12.9 CONSTANT CURRENCY NON-GAAP ADJUSTMENTS
  • SUMMARY
  • APPENDIX12A—ACCOUNTING FOR A FOREIGN AFFILIATE AND PREPARATION OF CONSOLIDATED STATEMENTS WORKPAPER ILLUSTRATED
  • APPENDIX 12B—PREPARING THE CONSOLIDATED STATEMENT OF CASH FLOWS WHEN THE CONSOLIDATED ENTITY INCLUDES A FOREIGN SUBSIDIARY
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 13 REPORTING FOR SEGMENTS AND FOR INTERIM FINANCIAL PERIODS
  • 13.1 NEED FOR DISAGGREGATED FINANCIAL DATA
  • 13.2 STANDARDS OF FINANCIAL ACCOUNTING AND REPORTING
  • 13.3 INTERIM FINANCIAL REPORTING
  • SUMMARY
  • APPENDIX—THE DIFFERENCE BETWEEN REPORTABLE SEGMENTS AND REPORTING UNITS
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 14 PARTNERSHIPS: FORMATION, OPERATION, AND OWNERSHIP CHANGES
  • 14.1 PARTNERSHIP DEFINED
  • 14.2 REASONS FOR FORMING A PARTNERSHIP
  • 14.3 CHARACTERISTICS OF A PARTNERSHIP
  • 14.4 PARTNERSHIP AGREEMENT
  • 14.5 ACCOUNTING FOR A PARTNERSHIP
  • 14.6 SPECIAL PROBLEMS IN ALLOCATION OF INCOME AND LOSS
  • 14.7 FINANCIAL STATEMENT PRESENTATION
  • 14.8 CHANGES IN THE OWNERSHIP OF THE PARTNERSHIP
  • 14.9 SECTION A: ADMISSION OF A NEW PARTNER (NOT A BUSINESS COMBINATION)
  • 14.10 SECTION B: ADMISSION OF A NEW PARTNER THAT QUALIFIES AS A BUSINESS COMBINATION: GAAP REQUIRES GOODWILL METHOD
  • 14.11 SECTION C: WITHDRAWAL OF A PARTNER
  • SUMMARY
  • QUESTIONS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 15 PARTNERSHIP LIQUIDATION
  • 15.1 STEPS IN THE LIQUIDATION PROCESS
  • 15.2 PRIORITIES OF PARTNERSHIP AND PERSONAL CREDITORS
  • 15.3 SIMPLE LIQUIDATION ILLUSTRATED
  • 15.4 INSTALLMENT LIQUIDATION
  • 15.5 INCORPORATION OF A PARTNERSHIP
  • SUMMARY
  • QUESTIONS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 16 INTRODUCTION TO FUND ACCOUNTING
  • 16.1 CLASSIFICATIONS OF NONBUSINESS ORGANIZATIONS
  • 16.2 DISTINCTIONS BETWEEN NONBUSINESS ORGANIZATIONS AND PROFIT-ORIENTED ENTERPRISES
  • 16.3 FINANCIAL ACCOUNTING AND REPORTING STANDARDS FOR NONBUSINESS ORGANIZATIONS
  • 16.4 FUND ACCOUNTING
  • 16.5 COMPREHENSIVE ILLUSTRATION—GENERAL FUND
  • 16.6 REPORTING INVENTORY AND PREPAYMENTS IN THE FINANCIAL STATEMENTS
  • 16.7 RECENT PROPOSAL BY THE GASB
  • SUMMARY
  • APPENDIX 16A
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 17 INTRODUCTION TO ACCOUNTING FOR STATE AND LOCAL GOVERNMENTAL UNITS
  • 17.1 THE HISTORY OF GENERALLY ACCEPTED GOVERNMENTAL ACCOUNTING STANDARDS
  • 17.2 THE STRUCTURE OF GOVERNMENTAL ACCOUNTING
  • 17.3 GOVERNMENTAL FUND ENTITIES
  • 17.4 PROPRIETARY FUNDS
  • 17.5 FIDUCIARY FUNDS
  • 17.6 CAPITAL ASSETS AND LONG-TERM DEBT
  • 17.7 EXTERNAL REPORTING REQUIREMENTS (GASB STATEMENT NO. 34)
  • 17.8 GOVERNMENT FUND-BASED REPORTING
  • 17.9 GOVERNMENT-WIDE REPORTING
  • SUMMARY
  • APPENDIX 17A—GOVERNMENT-WIDE FINANCIAL STATEMENTS—CITY OF ATLANTA
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 18 ACCOUNTING FOR NONGOVERNMENT NONBUSINESS ORGANIZATIONS: COLLEGES AND UNIVERSITIES, HOSPITALS AND OTHER HEALTH CARE ORGANIZATIONS
  • 18.1 SOURCES OF GENERALLY ACCEPTED ACCOUNTING STANDARDS FOR NONGOVERNMENT NONBUSINESS ORGANIZATIONS
  • 18.2 FINANCIAL REPORTING FOR NOT-FOR-PROFIT ENTITIES
  • 18.3 FUND ACCOUNTING AND ACCRUAL ACCOUNTING
  • 18.4 CONTRIBUTIONS
  • 18.5 ACCOUNTING FOR CURRENT FUNDS
  • 18.6 ACCOUNTING FOR PLANT FUNDS
  • 18.7 ACCOUNTING FOR ENDOWMENT FUNDS
  • 18.8 ACCOUNTING FOR INVESTMENTS
  • 18.9 ACCOUNTING FOR LOAN FUNDS
  • 18.10 ACCOUNTING FOR AGENCY (CUSTODIAL) FUNDS
  • 18.11 ACCOUNTING FOR ANNUITY AND LIFE INCOME FUNDS
  • 18.12 ISSUES RELATING TO COLLEGES AND UNIVERSITIES
  • SUMMARY
  • APPENDIX 18A
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • 19 INTERCOMPANY BOND HOLDINGS AND MISCELLANEOUS TOPICS—CONSOLIDATED FINANCIAL STATEMENTS
  • 19.1 INTERCOMPANY BOND HOLDINGS
  • 19.2 ACCOUNTING FOR BONDS—A REVIEW
  • 19.3 CONSTRUCTIVE GAIN OR LOSS ON INTERCOMPANY BOND HOLDINGS
  • 19.4 ACCOUNTING FOR INTERCOMPANY BONDS ILLUSTRATED
  • 19.5 BOOK ENTRY RELATED TO BOND INVESTMENT
  • 19.6 INTERIM PURCHASE OF INTERCOMPANY BONDS
  • 19.7 NOTES RECEIVABLE DISCOUNTED
  • 19.8 STOCK DIVIDENDS ISSUED BY A SUBSIDIARY COMPANY
  • 19.9 DIVIDENDS FROM PREACQUISITION EARNINGS
  • 19.10 SUBSIDIARY WITH BOTH PREFERRED AND COMMON STOCK OUTSTANDING
  • 19.11 CONSOLIDATING A SUBSIDIARY WITH PREFERRED STOCK OUTSTANDING
  • SUMMARY
  • QUESTIONS
  • ANALYZING FINANCIAL STATEMENTS
  • EXERCISES
  • PROBLEMS
  • NOTES
  • GLOSSARY
  • APPENDIX PV: TABLES OF PRESENT VALUES
  • INDEX
  • END USER LICENSE AGREEMENT