Intermediate Accounting
14th Edition
Published on 15. March 2011
Book
Hardback
888 pages
978-0-470-58728-7 (ISBN)
Description
INTERMEDIATE ACCOUNTING by Kieso, Weygandt, and Warfield is, quite simply, the standard by which all other intermediate accounting texts are measured. Through thirty years and thirteen best-selling editions, the text has built a reputation for accuracy, comprehensiveness, and student success. The Fourteenth Edition maintains the qualities for which the text is globally recognized, and continues to be your students' gateway to the profession! Volume I is comprised of Chapters 1-14. Each study guide chapter is comprised of a detailed chapter review, demonstration problems, true/false, multiple-choice, matching questions, and copmrehensive exercises. This book is a bound paperback with three-hole punches for convenient storage in a binder.
More details
Series
Edition
Volume 1
Language
English
Place of publication
New York
United States
Target group
Professional and scholarly
Dimensions
Height: 274 mm
Width: 223 mm
Thickness: 36 mm
Weight
1890 gr
ISBN-13
978-0-470-58728-7 (9780470587287)
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
New editions
Donald E. Kieso | Jerry J. Weygandt | Terry D. Warfield
Intermediate Accounting, Volume 1
Book
03/2013
15th Edition
Wiley
€240.66
Article exhausted; check for reprint
Previous edition
Donald E. Kieso | Jerry J. Weygandt | Terry D. Warfield
Intermediate Accounting, Chapters 1-14
Book
03/2009
13th Edition
Wiley
€219.12
Article exhausted; check for reprint
Content
Chapter 1 Financial Accounting and Accounting Standards 2
Thinking Outside the Box Financial Statements and Financial Reporting 4
Parties Involved in Standard-Setting 7
Generally Accepted Accounting Principles 13
Issues in Financial Reporting 16
FASB Codification 23
IFRS Insights 32
Chapter 2 Conceptual Framework for Financial Accounting 42
What Is It?
Conceptual Framework 44
First Level: Basic Objective 47
Second Level: Fundamental Concepts 47
Third Level: Recognition and Measurement Concepts 55
FASB Codification 67
IFRS Insights 81
Chapter 3 The Accounting Information System 86
Needed: A Reliable Information System
Accounting Information System 88
The Accounting Cycle 93
Financial Statements for a Merchandising Company 117
APPENDIX 3A Cash-Basis Accounting versus Accrual-Basis Accounting 121
Conversion from Cash Basis to Accrual Basis 123
Theoretical Weaknesses of the Cash Basis 126
APPENDIX 3B Using Reversing Entries 126
APPENDIX 3C Using a Worksheet: The Accounting Cycle Revisited 129
Worksheet Columns 129
Adjustments Entered on the Worksheet 130
Preparing Financial Statements from a Worksheet 131
IFRS Insights 153
Chapter 4 Income Statement and Related Information 158
Watch Out for Pro Forma
Income Statement 160
Format of the Income Statement 162
Reporting Irregular Items 168
Special Reporting Issues 177
FASB Codification 186
IFRS Insights 204
Chapter 5 Balance Sheet and Statement of Cash Flows 212
Hey, It Doesn't Balance!
SECTION 1 Balance Sheet 214
Usefulness of the Balance Sheet 214
Limitations of the Balance Sheet 215
Classification in the Balance Sheet 215
SECTION 2 Statement of Cash Flows 227
Purpose of the Statement of Cash Flows 227
Content and Format of the Statement of Cash Flows 228
Overview of the Preparation of the Statement of Cash Flows 230
Usefulness of the Statement of Cash Flows 233
SECTION 3 Additional Information 236
Supplemental Disclosures 236
Techniques of Disclosure 239
APPENDIX 5A Ratio Analysis-A Reference 244
Using Ratios to Analyze Performance 244
APPENDIX 5B Specimen Financial Statements: The Procter & Gamble Company 246
FASB Codification 278
IFRS Insights 301
Chapter 6 Accounting and the Time Value of Money 308
The Magic of Interest
Single-Sum Problems 316
Annuities 321
More Complex Situations 332
Present Value Measurement 336
FASB Codification 340
Chapter 7 Cash and Receivables 364
No-Tell Nortel
Cash 366
Summary of Cash-Related Items 368
Accounts Receivable 369
Notes Receivable 378
Special Issues 383
APPENDIX 7A Cash Controls 395
Using Bank Accounts 395
The Imprest Petty Cash System 396
Physical Protection of Cash Balances 397
Reconciliation of Bank Balances 397
APPENDIX 7B Impairments of Receivables 400
Impairment Measurement and Reporting 401
FASB Codification 403
IFRS Insights 428
Chapter 8 Valuation of Inventories:A Cost-Basis Approach 434
Inventories in the Crystal Ball
Inventory Issues 436
Basic Issues in Inventory Valuation 440
Physical Goods Included in Inventory 441
Costs Included in Inventory 446
Which Cost Flow Assumption to Adopt? 448
Special Issues Related to LIFO 452
Basis for Selection of Inventory Method 463
FASB Codification 468
Chapter 9 Inventories: Additional Valuation Issues 492
What Do Inventory Changes Tell Us?
Lower-of-Cost-or-Market 494
Valuation Bases 501
The Gross Profit Method of Estimating Inventory 505
Retail Inventory Method 508
Presentation and Analysis 514
APPENDIX 9A LIFO Retail Methods 518
Stable Prices-LIFO Retail Method 518
Fluctuating Prices-Dollar-Value LIFO Retail Method 519
Subsequent Adjustments Under Dollar-Value LIFO Retail 520
Changing from Conventional Retail to LIFO 521
FASB Codification 523
IFRS Insights 545
Chapter 10 Acquisition and Disposition of Property, Plant, and Equipment 554
Where Have All the Assets Gone?
Property, Plant, and Equipment 556
Acquisition of Property, Plant,and Equipment 556
Valuation of Property, Plant,and Equipment 565
Costs Subsequent to Acquisition 574
Disposition of Property, Plant,and Equipment 578
FASB Codification 581
Chapter 11 Depreciation, Impairments,and Depletion 604
Here Come the Write-Offs 604
Depreciation-A Method of Cost Allocation 606
Impairments 617
Depletion 620
Presentation and Analysis 625
APPENDIX 11A Income Tax Depreciation 630
Modified Accelerated Cost Recovery System 630
Optional Straight-Line Method 633
Tax versus Book Depreciation 633
FASB Codification 633
IFRS Insights 653
Chapter 12 Intangible Assets 664
Are We There Yet?
Intangible Asset Issues 666
Types of Intangible Assets 669
Impairment of Intangible Assets 677
Research and Development Costs 680
Presentation of Intangibles and Related Items 686
APPENDIX 12A Accounting for Computer Software Costs 690
Diversity in Practice 690
The Profession's Position 691
Accounting for Capitalized Software Costs 691
Reporting Software Costs 692
Setting Standards for Software Accounting 692
FASB Codification 694
IFRS Insights 712
Chapter 13 Current Liabilities and Contingencies 720
Now You See It, Now You Don't
SECTION 1 Current Liabilities 722
What Is a Liability? 722
What Is a Current Liability? 722
SECTION 2 Contingencies 735
Gain Contingencies 735
Loss Contingencies 736
SECTION 3 Presentation and Analysis 746
Presentation of Current Liabilities 746
Presentation of Contingencies 748
Analysis of Current Liabilities 749
FASB Codification 752
IFRS Insights 773
Chapter 14 Long-Term Liabilities 782
Bonds versus Notes?
SECTION 1 Bonds Payable 784
Issuing Bonds 784
Types and Ratings of Bonds 784
What Do the Numbers Mean?
All About Bonds 785
Valuation of Bonds Payable-Discount and Premium 786
Effective-Interest Method 791
Costs of Issuing Bonds 794
Extinguishment of Debt 795
SECTION 2 Long-Term Notes Payable 797
Notes Issued at Face Value 797
Notes Not Issued at Face
Value 798
Special Notes Payable Situations 800
Mortgage Notes Payable 802
Fair Value Option 803
SECTION 3 Reporting and Analyzing Long-Term Debt 804
Off-Balance-Sheet Financing 804
APPENDIX 14A Troubled-Debt Restructurings 810
Settlement of Debt 811
Modification of Terms 812
Concluding Remarks 816
FASB Codification 817
IFRS Insights 835
Index I-1
Thinking Outside the Box Financial Statements and Financial Reporting 4
Parties Involved in Standard-Setting 7
Generally Accepted Accounting Principles 13
Issues in Financial Reporting 16
FASB Codification 23
IFRS Insights 32
Chapter 2 Conceptual Framework for Financial Accounting 42
What Is It?
Conceptual Framework 44
First Level: Basic Objective 47
Second Level: Fundamental Concepts 47
Third Level: Recognition and Measurement Concepts 55
FASB Codification 67
IFRS Insights 81
Chapter 3 The Accounting Information System 86
Needed: A Reliable Information System
Accounting Information System 88
The Accounting Cycle 93
Financial Statements for a Merchandising Company 117
APPENDIX 3A Cash-Basis Accounting versus Accrual-Basis Accounting 121
Conversion from Cash Basis to Accrual Basis 123
Theoretical Weaknesses of the Cash Basis 126
APPENDIX 3B Using Reversing Entries 126
APPENDIX 3C Using a Worksheet: The Accounting Cycle Revisited 129
Worksheet Columns 129
Adjustments Entered on the Worksheet 130
Preparing Financial Statements from a Worksheet 131
IFRS Insights 153
Chapter 4 Income Statement and Related Information 158
Watch Out for Pro Forma
Income Statement 160
Format of the Income Statement 162
Reporting Irregular Items 168
Special Reporting Issues 177
FASB Codification 186
IFRS Insights 204
Chapter 5 Balance Sheet and Statement of Cash Flows 212
Hey, It Doesn't Balance!
SECTION 1 Balance Sheet 214
Usefulness of the Balance Sheet 214
Limitations of the Balance Sheet 215
Classification in the Balance Sheet 215
SECTION 2 Statement of Cash Flows 227
Purpose of the Statement of Cash Flows 227
Content and Format of the Statement of Cash Flows 228
Overview of the Preparation of the Statement of Cash Flows 230
Usefulness of the Statement of Cash Flows 233
SECTION 3 Additional Information 236
Supplemental Disclosures 236
Techniques of Disclosure 239
APPENDIX 5A Ratio Analysis-A Reference 244
Using Ratios to Analyze Performance 244
APPENDIX 5B Specimen Financial Statements: The Procter & Gamble Company 246
FASB Codification 278
IFRS Insights 301
Chapter 6 Accounting and the Time Value of Money 308
The Magic of Interest
Single-Sum Problems 316
Annuities 321
More Complex Situations 332
Present Value Measurement 336
FASB Codification 340
Chapter 7 Cash and Receivables 364
No-Tell Nortel
Cash 366
Summary of Cash-Related Items 368
Accounts Receivable 369
Notes Receivable 378
Special Issues 383
APPENDIX 7A Cash Controls 395
Using Bank Accounts 395
The Imprest Petty Cash System 396
Physical Protection of Cash Balances 397
Reconciliation of Bank Balances 397
APPENDIX 7B Impairments of Receivables 400
Impairment Measurement and Reporting 401
FASB Codification 403
IFRS Insights 428
Chapter 8 Valuation of Inventories:A Cost-Basis Approach 434
Inventories in the Crystal Ball
Inventory Issues 436
Basic Issues in Inventory Valuation 440
Physical Goods Included in Inventory 441
Costs Included in Inventory 446
Which Cost Flow Assumption to Adopt? 448
Special Issues Related to LIFO 452
Basis for Selection of Inventory Method 463
FASB Codification 468
Chapter 9 Inventories: Additional Valuation Issues 492
What Do Inventory Changes Tell Us?
Lower-of-Cost-or-Market 494
Valuation Bases 501
The Gross Profit Method of Estimating Inventory 505
Retail Inventory Method 508
Presentation and Analysis 514
APPENDIX 9A LIFO Retail Methods 518
Stable Prices-LIFO Retail Method 518
Fluctuating Prices-Dollar-Value LIFO Retail Method 519
Subsequent Adjustments Under Dollar-Value LIFO Retail 520
Changing from Conventional Retail to LIFO 521
FASB Codification 523
IFRS Insights 545
Chapter 10 Acquisition and Disposition of Property, Plant, and Equipment 554
Where Have All the Assets Gone?
Property, Plant, and Equipment 556
Acquisition of Property, Plant,and Equipment 556
Valuation of Property, Plant,and Equipment 565
Costs Subsequent to Acquisition 574
Disposition of Property, Plant,and Equipment 578
FASB Codification 581
Chapter 11 Depreciation, Impairments,and Depletion 604
Here Come the Write-Offs 604
Depreciation-A Method of Cost Allocation 606
Impairments 617
Depletion 620
Presentation and Analysis 625
APPENDIX 11A Income Tax Depreciation 630
Modified Accelerated Cost Recovery System 630
Optional Straight-Line Method 633
Tax versus Book Depreciation 633
FASB Codification 633
IFRS Insights 653
Chapter 12 Intangible Assets 664
Are We There Yet?
Intangible Asset Issues 666
Types of Intangible Assets 669
Impairment of Intangible Assets 677
Research and Development Costs 680
Presentation of Intangibles and Related Items 686
APPENDIX 12A Accounting for Computer Software Costs 690
Diversity in Practice 690
The Profession's Position 691
Accounting for Capitalized Software Costs 691
Reporting Software Costs 692
Setting Standards for Software Accounting 692
FASB Codification 694
IFRS Insights 712
Chapter 13 Current Liabilities and Contingencies 720
Now You See It, Now You Don't
SECTION 1 Current Liabilities 722
What Is a Liability? 722
What Is a Current Liability? 722
SECTION 2 Contingencies 735
Gain Contingencies 735
Loss Contingencies 736
SECTION 3 Presentation and Analysis 746
Presentation of Current Liabilities 746
Presentation of Contingencies 748
Analysis of Current Liabilities 749
FASB Codification 752
IFRS Insights 773
Chapter 14 Long-Term Liabilities 782
Bonds versus Notes?
SECTION 1 Bonds Payable 784
Issuing Bonds 784
Types and Ratings of Bonds 784
What Do the Numbers Mean?
All About Bonds 785
Valuation of Bonds Payable-Discount and Premium 786
Effective-Interest Method 791
Costs of Issuing Bonds 794
Extinguishment of Debt 795
SECTION 2 Long-Term Notes Payable 797
Notes Issued at Face Value 797
Notes Not Issued at Face
Value 798
Special Notes Payable Situations 800
Mortgage Notes Payable 802
Fair Value Option 803
SECTION 3 Reporting and Analyzing Long-Term Debt 804
Off-Balance-Sheet Financing 804
APPENDIX 14A Troubled-Debt Restructurings 810
Settlement of Debt 811
Modification of Terms 812
Concluding Remarks 816
FASB Codification 817
IFRS Insights 835
Index I-1