Ebook Financial accounting (Ninth edition): Part 1

Ebook Financial accounting (Ninth edition): Part 1 include of the following contents: Chapter 1 uses of accounting information and the financial statements, chapter 2 analyzing business transactions, chapter 3 measuring business income, chapter 4 financial reporting and analysis, chapter 5 the operating cycle and merchandising operations, chapter 6 inventories.
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Ebook Financial accounting (Ninth edition): Part 1 Financial Accounting Ninth Edition Belverd E. Needles, Jr., Ph.D., C.P.A., C.M.A. DePaul University Marian Powers, Ph.D. Northwestern University Houghton Mifflin Company Boston New York To Annabelle and Abigail Needles In memory of Mr. and Mrs. Belverd E. Needles, Sr., and Mr. and Mrs. Benjamin E. Needles To Mr. and Mrs. Thomas R. Powers Publisher: George Hoffman Senior Sponsoring Editor: Ann West Senior Development Editor: Chere Bemelmans Editorial Assistants: James R. Dimock, Alison McGonagle Project Editor: Margaret M. Kearney Editorial Assistant: Brett Pasinella Art and Design Manager: Gary Crespo Senior Photo Editor: Jennifer Meyer Dare Composition Buyer: Chuck Dutton Senior Manufacturing Buyer: Renee Ostrowski Marketing Manager: Mike Schenk Marketing Associate: Kathleen Mellon Cover engine image © Svenja-Foto/zefa/Corbis Cover county fair image (The Erie County Fair, Hamburg, Eric County, New York) © Panoramic Images/James Schwabel CVS Annual Report reprinted courtesy of CVS. Portions of Southwest Airlines Annual Report courtesy of Southwest Airlines Co. COMPANY LOGO CREDITS: page 7, By permission of CVS; page 107, BOEING trademark used with permission; page 158, By permission of Yahoo!; page 228, Courtesy of Dell Inc.; page 283, By permission of Costco Wholesale; page 418, Amazon, Amazon.com, and the Amazon.com logo are registered trademarks of Amazon.com, Inc. or its affiliates; page 615, Motorola, Inc.; page 660, By permission of Marriott International, Inc.; page 756, eBay and the eBay logo are trademarks of eBay Inc. PHOTO CREDITS: page 3, Getty Images; page 9, AP/Wide World Photos; page 17, © Jim West/The Image Works; page 21, By permission of CVS; page 21, © Frank Trapper/Corbis; page 105, AFP/Getty Images; page 110, © Reuters/Corbis; page 126, Getty Images; (continued on page 850) Copyright © 2007 by Houghton Mifflin Company. All rights reserved. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system without the prior written permission of Houghton Mifflin Company unless such copying is expressly permitted by federal copyright law. Address inquiries to College Permissions, Houghton Mifflin Company, 222 Berkeley Street, Boston, MA 02116-3764. Printed in the U.S.A. Library of Congress Control Number: 2005935736 Student Text ISBN 13: 978-0-618-62676-2 ISBN 10: 0-618-62676-X Instructor’s Examination Copy ISBN 13: 978-0-618-72187-0 ISBN 10: 0-618-72187-8 123456789-VH-10 09 08 07 06 Brief Contents 1 Uses of Accounting Information and the Financial Statements 2 SUPPLEMENT TO CHAPTER 1 How to Read an Annual Report 55 2 Analyzing Business Transactions 104 3 Measuring Business Income 156 SUPPLEMENT TO CHAPTER 3 Closing Entries and the Work Sheet 209 4 Financial Reporting and Analysis 224 SUPPLEMENT TO CHAPTER 4 The Annual Report Project 277 5 The Operating Cycle and Merchandising Operations 280 6 Inventories 332 7 Cash and Receivables 374 8 Current Liabilities and the Time Value of Money 416 9 Long-Term Assets 462 10 Long-Term Liabilities 512 11 Contributed Capital 566 12 The Corporate Income Statement and the Statement of Stockholders’ Equity 610 13 The Statement of Cash Flows 656 14 Financial Performance Measurement 704 15 Investments 754 APPENDIX A Accounting for Unincorporated Businesses 798 APPENDIX B Future Value and Present Value Tables 808 iii This page intentionally left blank Contents Preface xiii User’s Guide to Financial Accounting xix Check Figures xxvii About the Authors xxix CHAPTER 1 Uses of Accounting Information and the Financial Statements 2 í DECISION POINT: A USER’S FOCUS CVS CORPORATION 3 í FOCUS ON BUSINESS PRACTICE: Are Most Corporations Big or Small Businesses? 16 Accounting as an Information System 4 Formation of a Corporation 17 Business Goals, Activities, and Performance Measures 5 Organization of a Corporation 17 í FOCUS ON BUSINESS PRACTICE: What Does CVS Have to Say About Itself? 6 Corporate Governance 19 í FOCUS ON BUSINESS PRACTICE: Cash Bonuses Depend Financial Position and the Accounting on Accounting Numbers! 6 Equation 19 Financial and Management Accounting 7 Assets 20 Processing Accounting Information 7 Liabilities 20 í FOCUS ON BUSINESS PRACTICE: How Did Accounting Stockholders’ Equity 20 Develop? 8 Financial Statements 23 Ethical Financial Reporting 8 Income Statement 23 Decision Makers: The Users of Accounting ...