Financial Accounting

Part 1 Introduction: accountants and accounting information; the financial statements. Part 2 The accounting cycle: recording business activity; adjustments; accountability and control. Part 3 Accounting for assets: income and the operating cycle; controlling, costing and analyzing inventories; reporting and controlling liquid assets; measuring and reporting long-term assets. Part 4 Accounting for liabilities and equity: current liabilities, contingent liabilities and the time value of money; long-term debt - straight line interest procedures; long-term debt - effective interest procedures; analyzing and reporting owners' equity. Part 5 Additional dimensions of financial reporting: the statement of cash flows; long-term investments and mutiple-corporation businesses; financial statement analysis; managing and accounting for corporate income tax.