Introduction to Financial Accounting and Cisco Report Package
8th Edition
Published on 3. October 2001
Book
707 pages
978-0-13-041023-8 (ISBN)
Description
Get refreshed with Horngren/Sundem/Elliott's Introduction to Financial Accounting and Cisco Report Package, Eighth Edition. This best-selling text offers a relevant, conceptual approach to financial accounting. Students learn how to evaluate and analyze a typical corporate annual report and to use accounting as a tool in understanding business. An exceptionally strong pedagogy and supplements package and flexible structure provide instructors with great latitude in choosing various combinations of breadth and depth, theory and procedures, simplicity and complexity. The Eighth Edition now includes: student-oriented real-world company examples such as Cisco, Nantucket Nectars, Teva...; new "Cognitive Exercises" and "Business First" boxes; new on-line courses and step-by-step tutorials on the leading professional software packages; and new CD-ROM series, Mastering Accounting.
More details
Edition
8th edition
Language
English
Place of publication
Upper Saddle River
United States
Publishing group
Pearson Education (US)
Target group
Professional and scholarly
Dimensions
Width: 283 mm
Thickness: 35 mm
Weight
1881 gr
ISBN-13
978-0-13-041023-8 (9780130410238)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Previous edition
Charles T. Horngren | Gary L. Sundem | John A. Elliott
Introduction to Financial Accounting
United States Edition
Book
08/1998
7th Edition
Pearson
€44.56
Article exhausted; check for reprint
Persons
Charles T. Horngren is the Edmund W. Littlefield Professor of Accounting, Emeritus, at Stanford University. A graduate of Marquette University, he received his MBA from Harvard University and his Ph.D. from the University of Chicago. He is also the recipient of honorary doctorates from Marquette University and DePaul University.
A Certified Public Accountant, Horngren served on the Accounting Principles Board for six years, the Financial Accounting Standards Board Advisory Council for five years, and the Council of the American Institute of Certified Public Accountants for three years. For six years, he served as a trustee of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Government Accounting Standards Board.
Horngren is a member of the Accounting Hall of Fame.
A member of the American Accounting Association, Horngren has been its President and its Director of Research. He received its first annual Outstanding Accounting Educator Award.
The California Certified Public Accountants Foundation gave Horngren its Faculty Excellence Award and its Distinguished Professor Award. He is the first person to have received both awards.
The American Institute of Certified Public Accountants presented its first Outstanding Educator Award to Horngren.
Horngren was named Accountant of the Year, Education, by the national professional accounting fraternity, Beta Alpha Psi.
Professor Horngren is also a member of the Institute of Management Accountants, where he received its Distinguished Service Award. He was a member of the Institute's Board of Regents, which administers the Certified Management Accountant examinations.
Horngren is the author of these books published by Prentice-Hall: Cost Accounting: A Managerial Emphasis, Tenth Edition, 2000 (with George Foster and Srikant Datar); Introduction to Management Accounting, Twelfth Edition, 2002 (with Gary L. Sundem and William O. Stratton); Introduction to Financial Accounting, Eighth Edition, 2002 (with Gary L. Sundem and John A. Elliott; Accounting, Fifth Edition, 2002 (with Walter T. Harrison, Jr. and Linda Bamber); and Financial Accounting, Fourth Edition, 2001 (with Walter J. Harrison, Jr.).
Horngren is the Consulting Editor for the Charles T. Horngren Series in Accounting.
Gary L. Sundem is the Julius A. Roller Professor of Accounting and Co-Chair of the Department of Accounting at the University of Washington, Seattle. He received his B.A. degree from Carleton College and his MBA and Ph.D. degrees from Stanford University.
Professor Sundem was the 1992-93 President of the American Accounting Association. He was Executive Director of the Accounting Education Change Commission, 1989-91, and served as Editor of The Accounting Review, 1982-86.
A member of the National Association of Accountants, Sundem is past president of the Seattle chapter. He has served on NAA's national Board of Directors, the Committee on Academic Relations, and the Research Committee.
Professor Sundem has numerous publications in accounting and finance journals including Issues in Accounting Education, The Accounting Review, Journal of Accounting Research, and The Journal of Finance. He was selected as the Outstanding Accounting Educator by the American Accounting Association in 1998 and by the Washington Society of CPAs in 1987. He has made more than 150 presentations at universities in the United States and abroad.
John A. Elliott is Associate Dean and Professor of Accounting at the Johnson Graduate School of Management at Cornell University. He received his B.S. and MBA degrees from the University of Maryland and his Ph.D. degree from Cornell University.
A certified public accountant, Elliott worked for Arthur Andersen & Co. and for Westinghouse before returning for his advanced degrees. He currently teaches financial accounting and international accounting at the Johnson School. Prior teaching experience has included auditing and taxation as well as intermediate accounting and financial statement analysis. With over 25 years as an educator, Professor Elliott has taught at the University of Maryland, St. Lawrence University, Central Washington State College, and the University of Chicago. In addition to executive teaching for Cornell, he has conducted various corporate training programs in the United States and internationally.
As a member of the American Accounting Association, he was the founding president of the Financial Accounting and Reporting Section. As a member of the Financial Accounting Standards Committee he frequently responded to FASB exposure drafts and worked to integrate academic study with practice. His research has been published in accounting and economics journals and deals primarily with the use of accounting information to assess the financial condition of an enterprise.
Professor Elliott served on the Hangar Theatre Board of Trustees for nine years, and was president for four of those years. He also served on the Board of the Cayuga Medical Center at Ithaca for nine years and was president for the final three years.
A Certified Public Accountant, Horngren served on the Accounting Principles Board for six years, the Financial Accounting Standards Board Advisory Council for five years, and the Council of the American Institute of Certified Public Accountants for three years. For six years, he served as a trustee of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Government Accounting Standards Board.
Horngren is a member of the Accounting Hall of Fame.
A member of the American Accounting Association, Horngren has been its President and its Director of Research. He received its first annual Outstanding Accounting Educator Award.
The California Certified Public Accountants Foundation gave Horngren its Faculty Excellence Award and its Distinguished Professor Award. He is the first person to have received both awards.
The American Institute of Certified Public Accountants presented its first Outstanding Educator Award to Horngren.
Horngren was named Accountant of the Year, Education, by the national professional accounting fraternity, Beta Alpha Psi.
Professor Horngren is also a member of the Institute of Management Accountants, where he received its Distinguished Service Award. He was a member of the Institute's Board of Regents, which administers the Certified Management Accountant examinations.
Horngren is the author of these books published by Prentice-Hall: Cost Accounting: A Managerial Emphasis, Tenth Edition, 2000 (with George Foster and Srikant Datar); Introduction to Management Accounting, Twelfth Edition, 2002 (with Gary L. Sundem and William O. Stratton); Introduction to Financial Accounting, Eighth Edition, 2002 (with Gary L. Sundem and John A. Elliott; Accounting, Fifth Edition, 2002 (with Walter T. Harrison, Jr. and Linda Bamber); and Financial Accounting, Fourth Edition, 2001 (with Walter J. Harrison, Jr.).
Horngren is the Consulting Editor for the Charles T. Horngren Series in Accounting.
Gary L. Sundem is the Julius A. Roller Professor of Accounting and Co-Chair of the Department of Accounting at the University of Washington, Seattle. He received his B.A. degree from Carleton College and his MBA and Ph.D. degrees from Stanford University.
Professor Sundem was the 1992-93 President of the American Accounting Association. He was Executive Director of the Accounting Education Change Commission, 1989-91, and served as Editor of The Accounting Review, 1982-86.
A member of the National Association of Accountants, Sundem is past president of the Seattle chapter. He has served on NAA's national Board of Directors, the Committee on Academic Relations, and the Research Committee.
Professor Sundem has numerous publications in accounting and finance journals including Issues in Accounting Education, The Accounting Review, Journal of Accounting Research, and The Journal of Finance. He was selected as the Outstanding Accounting Educator by the American Accounting Association in 1998 and by the Washington Society of CPAs in 1987. He has made more than 150 presentations at universities in the United States and abroad.
John A. Elliott is Associate Dean and Professor of Accounting at the Johnson Graduate School of Management at Cornell University. He received his B.S. and MBA degrees from the University of Maryland and his Ph.D. degree from Cornell University.
A certified public accountant, Elliott worked for Arthur Andersen & Co. and for Westinghouse before returning for his advanced degrees. He currently teaches financial accounting and international accounting at the Johnson School. Prior teaching experience has included auditing and taxation as well as intermediate accounting and financial statement analysis. With over 25 years as an educator, Professor Elliott has taught at the University of Maryland, St. Lawrence University, Central Washington State College, and the University of Chicago. In addition to executive teaching for Cornell, he has conducted various corporate training programs in the United States and internationally.
As a member of the American Accounting Association, he was the founding president of the Financial Accounting and Reporting Section. As a member of the Financial Accounting Standards Committee he frequently responded to FASB exposure drafts and worked to integrate academic study with practice. His research has been published in accounting and economics journals and deals primarily with the use of accounting information to assess the financial condition of an enterprise.
Professor Elliott served on the Hangar Theatre Board of Trustees for nine years, and was president for four of those years. He also served on the Board of the Cayuga Medical Center at Ithaca for nine years and was president for the final three years.
Content
Chapters end with Summary Problems for Your Review, Highlights to Remember, Accounting Vocabulary, and Assignment Material. 1. Accounting: The Language of Business. Chapter Opener: Cisco Systems. The Nature of Accounting. The Balance Sheet. Balance Sheet Transactions. Types of Ownership. Stockholders and the Board of Directors. Credibility and the Role of Auditing. The Accounting Profession. 2. Measuring Income to Assess Performance. Chapter Opener: It's Just Lunch. Introduction to Income Measurement. Measuring Income. The Income Statement. Statement of Cash Flows. Accounting for Dividends and Retained Income. Four Popular Financial Ratios. The Language of Accounting in the Real World. 3. Recording Transactions. Chapter Opener: Gap, Inc. The Double-Entry Accounting System. Debits and Credits. The Recording Process. Analyzing, Journalizing, and Posting the Biwheels Transactions. Biwheels' Transactions in the Journal and Ledger. Preparing the Trial Balance. Effects of Errors. Incomplete Records. Data Processing and Computers. 4. Using Financial Statements. Chapter Opener: Lands' End. Adjustments to the Accounts. I. Expiration of Unexpired Costs. II. Earning of Revenues Received in Advance. III. Accrual of Unrecorded Expenses. IV Accrual of Unrecorded Revenues. The Adjusting Process in Perspective. Classified Balance Sheet. Income Statement. Profitability Evaluation Ratios. Generally Accepted Accounting Principles and Basic Concepts. 5. Accounting for Sales. Chapter Opener: Oracle Corporation. Recognition of Sales Revenue. Measurement of Sales Revenue. Cash. Credit Sales and Accounts Receivable. Measurement of Uncollectible Accounts. Assessing the Level of Accounts Receivable. Overview of Internal Control. 6. Inventories and Cost of Goods Sold. Chapter Opener: Home Depot. Gross Profit and Cost of Goods Sold. Perpetual and Periodic Inventory Systems. Cost of Merchandise Acquired. Comparing Accounting Procedures for Periodic and Perpetual Inventory Systems. Principal Inventory Valuation Methods. Characteristics and Consequences of LIFO. Lower-of-Cost-or-Market Methods. Effects of Inventory Errors. Cutoff Errors and Inventory Valuation. The Importance of Gross Profits. Gross Profit Percentages and Accuracy of Records. Internal Control of Inventories. 7. Long-Lived Assets and Depreciation. Chapter Opener: Gap Inc. Overview of Long-Lived Assets. Acquisition Cost of Tangible Assets. Depreciation of Buildings and Equipment. Contrasting Income Tax and Shareholder Reporting. Depreciation and Cash Flow. Contrasting Long-Lived Asset Expenditures with Expenses. Gains and Losses on Sales of Tangible Assets. Depletion of Natural Resources. Amortization of Intangible Assets. Basket Purchases. 8. Liabilities and Interest. Chapter Opener: America West Airlines. Liabilities in Perspective. Accounting for Current Liabilities. Internal Control Over Payables. Long-Term Liabilities. Deferred Taxes. Contingent Liabilities. Debt Ratios and Interest-Coverage Ratios. 9. Valuing and Accounting for Bonds and Leases. Chapter Opener: May Department Stores. Valuing Long-Term Liabilities. Present Value of an Ordinary Annuity. Valuing Bonds. Accounting for Bond Transactions. Accounting for Leases. Pensions and Other Postretirement Benefits. 10. Statement of Cash Flows. Chapter Opener: Nike. Overview of Statement of Cash Flows. Transactions Affecting Cash Flows from All Sources. The Eco-Bag Company-A Detailed Example of the Direct Method for Preparing the Statement of Cash Flows. Preparing a Statement of Cash Flows-The Indirect Method. Appendix 10A: More on the Statement of Cash Flows. Appendix 10B: T-Account Approach to Statement of Cash Flows. 11. Stockholders' Equity. Chapter Opener: United Parcel Service. Background on Stockholders' Equity. Cash Dividends. Preferred Stock. Additional Stock Issuance. Repurchase of Shares. Other Issuances of Common Stock. Retained Income Restrictions. Other Components of Stockholders' Equity. Financial Ratios Related to Stockholders' Equity. 12. Intercorporate Investments and Consolidations. Chapter Opener: General Moors Corporation. An Overview of Corporate Investments. Short-Term Investments. Long-Term Investments in Bonds. The Market and Equity Methods for Intercorporate Investments. Consolidated Financial Statements. Purchased Goodwill. Perspective on Consolidated Statements. Summary of Accounting for Equity Securities. 13. Financial Statement Analysis. Chapter Opener: McDonald's. Sources of Information About Companies. Objectives of Financial Statement Analysis. Evaluating Trends and Components of the Business. Financial Ratios. Operating Performance and Financial Performance. Prominence of Earnings Per Share. Disclosure of Nonrecurring Items. International Issues. Valuation Issues. Price-Earnings Ratios and Growth. Relating Cash Flow and Net Income. 14. Conceptual Framework and Measurement Techniques. Chapter Opener: Dell Computer Corporation. Conceptual Framework of Accounting. Choosing Among Reporting Alternatives. Measuring Income. Income Measurement When Prices Change. Alternatives to Historical-Cost Income Measurement. Accounting Standards Throughout the World. Accounting Principles in Selected Countries. Foreign-Currency Issues. Appendix A. Glossary. Index.