财务会计：英文版

Part1:Fundamentalsof
Accounting1
1.IntroductiontoFinancialAccounting2
WhatIsAccounting?3
FrameworksforUnderstandingAccounting
Information4
FinancialHistories:TheFinancialStatements5
WhyStudyAccounting?8
DecisionMaking9
AccountingIsMoreThanJustNumbers
EconomicConcepts12
FinancialValue12
Wealth13
EconomicIncome14
ImportanceofFinancialValue,Wealth,and
EconomicIncomeinAccounting14
AccountingConventions16
NatureofAccountingConventions16
FactorsAffectingAccountingConventions16
InstitutionalContext17
Conclusion20
KeyTerms20
2.BalanceSheetConcepts:Assets,
Liabilities,andEquities21
BasicDefinitions,Theory,andExamples22
TheEntityConcept22
Assets:Definition23
Assets:Examples23
Assets:Valuation26
Liabilities:Definition27
Liabilities:Examples27
Liabilities:Valuation30
Equities:Definition30
Equities:Examples30
Examples:ConcludingRemarks31
BalanceSheetConstruction:Usingthe
AccountingIdentity32
AnExample:Websell32
T-Accounts,Debits,andCredits37
AnalysesUsingBalanceSheetInformation40
Conclusion40
KeyTerms41
3.IncomeStatementConcepts:Income,
Revenues,andExpenses42
Income(Loss)44
Revenues48
Expenses50
GainsandLosses53
DebitsandCredits53
AWordAboutLedgersandJournals55
AnExample:ContinuingWebsell55
TheProcessofAdjusting58
.Conclusion63
KeyTerms64
4.StatementofCashFlows:Operating,
Investing,andFinancingActivities65
BasicDefinitions,Theory,andExamples66
DefinitionofCash66
CashFlows68
InvestingActivities69
FinancingActivities70
OperatingActivities70
TypesofCashFlowsandTypesofBalance
SheetAccounts71
CashFlowfromOperationsversusNet
Income72
AnExample:TotalToyCompany72
ConstructionofCashFlowStatements78
DirectMethod78
IndirectMethod82
AlternativeExplanationoftheIndirect
Method87
AnalysesUsingCashFlowStatements90
Conclusion91
KeyTerms91
5.UsingtheFundamentalAccounting
Framework:AmericaOnline,Inc.92
AOL:BusinessandEnvironment93
AOL'sBalanceSheets94
AOL'sIncomeStatement96
NotestoAOL'sFinancialStatements97
AOL'sCashFlowStatement99
UsingArticulationtoCompletethePicture101
AnalysisandDiscussion102
Conclusion105
Part2:ValuationBasicsand
AccountingMeasures107
6.EconomicConcepts:Behindthe
AccountingNumbers108
AccountingAdjustments110
Wehsell'sAdjustments110
AdjustmentApproach1:EstimatetheRemaining
AssetValue111
AdjustmentApproach2:EstimatetheAmountof
ExpenseforthePeriod112
AdjustmentsandValuation113
CashFlowsandEconomicValue114
CashFlowsoverTime:TheTimeValueof
Money115
FutureValue115
PresentValue117
RelationtoAccounting118
PresentValuesofSequencesofCashFlows119
UncertainCashFlows:ExpectedValue120
ProbabilityTreesandUncertainCashFlows122
RelationtoAccounting122
TimeandUncertainty:.CombiningPresentand
ExpectedValues122
NormalandAbnormalEarnings123
Conclusion124
KeyTerms125
Appendix6.1:CalculatingPresentValues
UsingCalculators,Spreadsheets,andTables
ofDiscountFactors126
Calculators126
Spreadsheets126
TablesofDiscountFactors127
7.FinancialStatementAnalysis:
ConnectingEconomicConcepts
toAccountingReports129
AlternativeMeasuresofValue:AFramework
forFinancialStatementAnalysis131
TheValueofaFirmintheStockMarket131
GAAPValuation131
FinancialStatementAnalysis132
ConceptualFrameworkforFinancialStatement
Analysis132
HarrodsburgFirstFinancialBancorp,Inc.135
MicrosoftCorporation143
Discussion149
Conclusion150
KeyTerms150
Part3:Topicsin
FinancialReporting151
8.AccountsReceivable152
NatureofAccountsReceivable153
AnExample:NavigantConsulting,Inc.153
EconomicValueofAccountsReceivable156
GAAPforAccountsReceivable158
DeterminingBadDebtExpenseandtheAllowance
forBadDebts161
ComparisonofGAAPandEconomicValue164
FinancialStatementAnalysisofAccounts
Receivable166
Condusion167
KeyTerms167
9.Inventories168
NatureofInventories169
AnExample:Maytag170
EconomicValueofInventories172
GAAPforInventories174
PeriodicversusPerpetualInventorySystems174
FIFO(First-In,First-Out)175
LIFO(Last-In,First-Out)176
AverageCost177
Lower-of-Cost-or-Market(LOCM)179
ComparisonofGAAPandEconomicValues179
FinancialStatementAnalysisofInventory181
Conclusion182
KeyTerms183
10.MarketableSecurities184
NatureofMarketableSecurities185
AnExample:MerrillLynch185
EconomicValueofMarketableSecurities187
GAAPforMarketableSecurities188
TradingSecurities188
Available-for-SaleSecurities190
Held-to-MaturitySecurities192
ComparisonofGAAPandEconomic
Values194
FinancialStatementAnalysisofMarketable
Securities196
Conclusion197
KeyTerms197
11.Long-LivedAssets198
NatureofLong-LivedAssets199
AnExample:QuakerOats200
EconomicValueofLong-LivedAssets203
GAAPforLong-LivedAssets205
CapitalizationversusExpense205
Valuation205
Depreciation206
ComparisonofGAAPandEconomic
Values208
ChangingExpectations209
AssetImpairment210
FinancialStatementAnalysisofLong-Lived
Assets211
Conclusion212
KeyTerms212
AppendixI1.1:EconomicValueofLine
PainterCO.213
12.Long-TermLiabilities215
NatureofLong-TermLiabilities216
GeneralCharacteristicsofFinancial
Instruments216
ScheduleofPayments217
RestrictionsontheBorrower'sActionsorFinancial
Condition218
RightsoftheBorrowerandLenderintheAbsence
ofDefault219
RightsoftheBorrowerandLenderin
Default219
ClassificationofLong-TermFinancing
Instruments219
AnExample:NorthwestAirlines220
Conclusion222
EconomicValueofLong-TermLiabilities222
GAAPforLong-TermLiabilities225
OperatingandCapitalLeases226
RetirementofLong-TermLiabilities227
ComparisonofGAAPandEconomic
Values228
FinancialStatementAnalysisofLong-Term
Liabilities231
Conclusion235
KeyTerms236
Appendix12.1:MoreDetailonNorthwest's
Liabilities236
Appendix12.2:ComparisonofAlternativeForms
ofFinancing239
13.Equities243
NatureofEquities244
Ownership244
Equity,Debt,andHybridFinancial
Instruments246
AnExample,3M248
StatementofChangesinShareholders'
Equity249
EconomicValueofEquities251
GAAPforEquities251
IssuanceandRetirement251
TreasuryStock252
Conversion254
DistributionstoShareholders254
StockSplitsandStockDividends255
Conclusion256
FinancialStatementAnalysisofEquities257
EarningsperShare257
EmployeeStockOptions259
Conclusion261
KeyTerms261
14.IncomeTaxes262
NatureofIncomeTaxes263
AnExample:NorthwestAirlines263
TaxAccountingPrinciples(TAP)267
MarketableSecurities267
Depreciation267
PostretirementBenefitsOtherThan
Pensions268
AssetImpairment269
NetOperatingLossCarryforwards/
Carrybacks269
Warranties270
Inventories270
LeaseTransactions270
ExampleofTAPFinancialStatements270
EconomicValueofDeferredIncomeTaxes275
ExampleofDeferredTaxLiabilityCreation:
Depreciation275
ExampleofDeferredTaxAssetCreation:
Warranties277
GAAPforDeferredIncomeTaxes278
GAAPversusTAPAccountsforNetServiceandthe
GAAPTaxAdjustments280
ComparisonofGAAPandEconomicValuesfor
DeferredIncomeTaxes282
AnalysisofDeferredIncomeTaxes283
Conclusion283
KeyTerms284
15.ActiveInvestmentsin
Corporations285
NatureofActiveInvestments287
AnExample:XeroxCorporation288
EconomicsofActiveInvestments292
GAAPforActiveInvestments293
EquityMethod293
ConsolidationMethod294
MinorityInterest295
Valuation295
DoGAAPCapturetheEconomics?296
RatioAnalysisofConsolidatedStatements296
Conclusion297
KeyTerms297
Appendix15.1:ConstructingaConsolidated
BalanceSheetontheDateofAcquisition297
Appendix15.2:Acquisitions,Divestitures,and
theArticulationofConsolidatedFinancial
Statements302
Appendix15.3:PoolingofInterests306
16.FinancialStatementAnalysisandthe
ValuationofCommonStock308
Background:ValuationofaCompanyUsing
DiscountedCashFlowAnalysis310
ColdwaterCreek312
Coldwater'sBalanceSheets313
CatalogCosts315
ExecutiveLoans315
Time-SeriesBenchmarks316
CurrentRatio317
QuickRatio317
Debt-to-Equity318
Long-TermDebt-to-Equity318
Cross-SectionalBenchmarks318
Coldwater'sIncomeStatements320
KeyStep:Articulation321
Projections323
Valuation329
Conclusion331
KeyTerms331
FinalThoughts332