Advanced Financial Accounting (11th Edition)

Download Advanced Financial Accounting (11th Edition) written by Cassy Budd, Theodore Christensen, David Cottrell in PDF format. This book is under the category Accounting and bearing the isbn/isbn13 number 0078025877; 0077723317/9780078025877/9780077723316. You may reffer the table below for additional details of the book.

$19.99

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Specifications

book-author

Cassy Budd, Theodore Christensen, David Cottrell

publisher

McGraw-Hill Higher Education; 11th edition

file-type

PDF

pages

1136 pages

language

English

asin

B00VF62268

isbn10

0078025877; 0077723317

isbn13

9780078025877/9780077723316


Book Description

Advanced Financial Accounting; 11th Edition; (PDF)  is a complete;  up-to-date; and extremely illustrated presentation of the accounting and reporting rules and procedures utilized in a spread of enterprise entities. Every day; the enterprise press carries accounts in regards to the merger and acquisition mania; the complexities of contemporary enterprise entities; accounting scandals associated to complicated enterprise transactions; new organizational buildings for conducting enterprise; the international actions of multinational companies; and bankruptcies of main companies. Accountants should perceive and know cope with the accounting and reporting ramifications of those points.

Additional ISBNs: 978-0077723309; 978-0077722166; 9781260544657; 9780078025877; 978-0077723309; 9780077722166; 0077722167; 1260544656; 9780078025877; 9780077723309; 0077722167; 0077723309; 978-0078025877

P.S. Contact us if you’d like Advanced Financial Accounting 11e TestBank or different instructor assets. A more moderen edition can also be obtainable. See beneath

NOTE: The product solely consists of the ebook; Advanced Financial Accounting; eleventh Edition in PDF. No access codes are included.

 

Table of contents


Table of contents :
Cover……Page 1
Advanced Financial Accounting……Page 2
About the Authors……Page 6
Preface……Page 8
Acknowledgments……Page 22
Brief Table of Contents……Page 24
Table of Contents……Page 25
Kraft’s Acquisition of Cadbury……Page 34
Enterprise Expansion……Page 35
Frequency of Business Combinations……Page 36
Ethical Considerations……Page 37
Internal Expansion: Creating a Business Entity……Page 38
External Expansion: Business Combinations……Page 39
Organizational Structure and Financial Reporting……Page 40
Accounting for Internal Expansion: Creating Business Entities……Page 41
Legal Forms of Business Combinations……Page 43
Methods of Effecting Business Combinations……Page 44
Valuation of Business Entities……Page 45
Goodwill……Page 47
Combination Effected through the Acquisition of Net Assets……Page 48
Financial Reporting Subsequent to a Business Combination……Page 53
Uncertainty in Business Combinations……Page 54
In-Process Research and Development……Page 55
Summary of Key Concepts……Page 56
Questions……Page 57
Cases……Page 58
Exercises……Page 60
Problems……Page 70
Berkshire Hathaway’s Many Investments……Page 80
Accounting for Investments in Common Stock……Page 81
The Cost Method……Page 83
Declaration of Dividends in Excess of Earnings since Acquisition……Page 84
Acquisition at Interim Date……Page 85
Use of the Equity Method……Page 86
Recognition of Income……Page 87
Differences in the Carrying Amount of the Investment and Investment Income under the Cost and Equity Methods……Page 88
Changes in the Number of Shares Held……Page 89
Comparison of the Cost and Equity Methods……Page 91
The Fair Value Option……Page 92
Consolidation Procedures for Wholly Owned Subsidiaries That Are Created or Purchased at Book Value……Page 93
Worksheet Format……Page 94
Nature of Consolidation Entries……Page 95
100 Percent Ownership Acquired at Book Value……Page 96
Consolidated Net Income……Page 101
Consolidated Retained Earnings……Page 102
Consolidated Financial Statements—100 Percent Ownership, Created or Acquired at Book Value……Page 103
Initial Year of Ownership……Page 104
Second and Subsequent Years of Ownership……Page 107
Summary of Key Concepts……Page 110
APPENDIX 2A Additional Considerations Relating to the Equity Method……Page 111
APPENDIX 2B Consolidation and the Cost Method……Page 114
Questions……Page 116
Cases……Page 118
Exercises……Page 120
Problems……Page 126
Kaplan CPA Review……Page 132
The Collapse of Enron and the Birth of a New Paradigm……Page 133
Limitations of Consolidated Financial Statements……Page 135
Traditional View of Control……Page 136
Ability to Exercise Control……Page 137
Noncontrolling Interest……Page 138
Computation and Presentation of Noncontrolling Interest……Page 139
Consolidated Net Income……Page 140
Consolidated Retained Earnings……Page 141
Worksheet Format……Page 142
80 Percent Ownership Acquired at Book Value……Page 143
Initial Year of Ownership……Page 147
Second and Subsequent Years of Ownership……Page 149
Combined Financial Statements……Page 152
Special-Purpose and Variable Interest Entities……Page 153
Variable Interest Entities……Page 154
IFRS Differences in Determining Control of VIEs and SPEs……Page 155
Summary of Key Concepts……Page 156
APPENDIX 3A Consolidation of Variable Interest Entities……Page 157
Questions……Page 158
Cases……Page 159
Exercises……Page 161
Problems……Page 168
How Much Work Does It Really Take to Consolidate? Ask the People Who Do It at Disney……Page 175
Dealing with the Differential……Page 176
The Difference between Acquisition Price and Underlying Book Value……Page 177
Disney’s 2006 Pixar Acquisition……Page 180
Disney’s 2012 Lucasfilm Acquisition……Page 181
Consolidation Procedures for Wholly Owned Subsidiaries Acquired at More than Book Value……Page 182
Treatment of a Positive Differential……Page 185
Illustration of Treatment of a Complex Differential……Page 186
Illustration of Treatment of Bargain-Purchase……Page 190
Initial Year of Ownership……Page 192
Second Year of Ownership……Page 197
Push-Down Accounting……Page 201
APPENDIX 4A Push-Down Accounting Illustrated……Page 202
Cases……Page 205
Exercises……Page 207
Problems……Page 218
Cisco Acquires a Controlling Interest in Nuova……Page 228
Consolidated Balance Sheet with Majority-Owned Subsidiary……Page 229
Initial Year of Ownership……Page 232
Second Year of Ownership……Page 236
Discontinuance of Consolidation……Page 239
Treatment of Other Comprehensive Income……Page 238
Adjusting Entry Recorded by Subsidiary……Page 242
Consolidation Procedures……Page 243
Summary of Key Concepts……Page 246
Appendix 5A Additional Consolidations Details……Page 247
Cases……Page 249
Exercises……Page 251
Problems……Page 260
Inventory Transfers at Samsung Electronics……Page 275
Overview of the Consolidated Entity and Intercompany Transactions……Page 276
Elimination of Unrealized Profits and Losses……Page 277
Calculating Unrealized Profit or Loss……Page 278
Deferring Unrealized Profit or Loss on the Parent’s Books……Page 282
Deferring Unrealized Profit or Loss in the Consolidation……Page 283
Downstream Sale of Inventory……Page 285
Resale in Period of Intercorporate Transfer……Page 286
Resale in Period Following Intercorporate Transfer……Page 287
Inventory Held for Two or More Periods……Page 294
Equity-Method Entries—20X1……Page 295
Consolidation Worksheet—20X1……Page 296
Consolidation Worksheet—20X2……Page 298
Consolidated Net Income—20X2……Page 300
Lower of Cost or Market……Page 301
Key Terms……Page 302
APPENDIX 6A Intercompany Inventory Transactions—Modified Equity Method and Cost Method……Page 303
Questions……Page 310
Cases……Page 311
Exercises……Page 313
Problems……Page 321
Micron’s Intercompany Fixed Asset Sale……Page 335
Intercompany Transfers of Services……Page 336
Intercompany Long-Term Asset Transfers……Page 337
Overview of the Profit Consolidation Process……Page 338
Assignment of Unrealized Profit Consolidation……Page 340
Downstream Sale of Land (Year of Sale)……Page 342
Downstream Sale of Land……Page 346
Upstream Sale of Land (Year of Sale)……Page 348
Downstream Sale……Page 353
Upstream Sale……Page 362
Asset Transfers before Year-End……Page 371
APPENDIX 7A Intercompany Noncurrent Asset Transactions—Modified Equity Method and Cost Method……Page 373
Questions……Page 382
Cases……Page 383
Exercises……Page 385
Problems……Page 392
Ford’s Debt Transfers……Page 405
Consolidation Overview……Page 406
Transfer at Par Value……Page 407
Transfer at a Discount or Premium……Page 408
Bonds of Affiliate Purchased from a Nonaffiliate……Page 410
Purchase at an Amount Less than Book Value……Page 411
Purchase at an Amount Higher than Book Value……Page 424
APPPENDIX 8A Intercompany Indebtedness—Fully Adjusted Equity Method Using Straight-Line Interest Amortization……Page 426
APPPENDIX 8B Intercompany Indebtedness—Modified Equity Method and Cost Method……Page 441
Questions……Page 449
Cases……Page 450
Exercises……Page 451
Problems……Page 459
Berkshire Hathaway’s Varied Investments……Page 483
Consolidation with Subsidiary Preferred Stock Outstanding……Page 484
Subsidiary Preferred Stock Held by Parent……Page 487
Illustration of Subsidiary Preferred Stock with Special Features……Page 489
Changes in Parent Company Ownership……Page 491
Parent’s Purchase of Additional Shares from Nonaffiliate……Page 492
Parent’s Sale of Subsidiary Shares to Nonaffiliate……Page 494
Subsidiary’s Sale of Additional Shares to Nonaffiliate……Page 496
Subsidiary’s Sale of Additional Shares to Parent……Page 499
Subsidiary’s Purchase of Shares from Nonaffiliate……Page 501
Subsidiary’s Purchase of Shares from Parent……Page 503
Multilevel Ownership and Control……Page 505
Reciprocal or Mutual Ownership……Page 509
Subsidiary Stock Dividends……Page 513
Illustration of Subsidiary Stock Dividends……Page 514
Impact on Subsequent Periods……Page 515
Summary of Key Concepts……Page 516
Questions……Page 517
Cases……Page 518
Exercises……Page 519
Problems……Page 526
Advanced Consolidation Issues at Google……Page 534
Consolidated Cash Flow Statement Illustrated……Page 535
Consolidated Cash Flow Statement—Direct Method……Page 537
Consolidation Following an Interim Acquisition……Page 538
Parent Company Entries……Page 540
Consolidation Worksheet……Page 541
Allocating the Basis of Assets Acquired in a Business Combination……Page 543
Tax Allocation Procedures When Separate Tax Returns Are Filed……Page 547
Allocation of Tax Expense When a Consolidated Return Is Filed……Page 548
Tax Effects of Unrealized Intercompany Profit Eliminations……Page 550
Computation of Diluted Consolidated Earnings per Share……Page 554
Computation of Consolidated Earnings per Share Illustrated……Page 555
Summary of Key Concepts……Page 557
Questions……Page 558
Cases……Page 559
Exercises……Page 560
Problems……Page 566
Microsoft’s Multinational Business……Page 579
Doing Business in a Global Market……Page 580
The Accounting Issues……Page 581
Direct versus Indirect Exchange Rates……Page 582
Changes in Exchange Rates……Page 585
Forward Exchange Rates……Page 587
Foreign Currency Transactions……Page 588
Foreign Currency Import and Export Transactions……Page 589
Managing International Currency Risk with Foreign Currency Forward Exchange Financial Instruments……Page 593
Derivatives Designated as Hedges……Page 594
Forward Exchange Contracts……Page 596
Case 1: Managing an Exposed Foreign Currency Net Asset or Liability Position: Not a Designated Hedging Instrument……Page 598
Case 2: Hedging an Unrecognized Foreign Currency Firm Commitment: A Foreign Currency Fair Value Hedge……Page 604
Case 3: Hedging a Forecasted Foreign Currency Transaction: A Foreign Currency Cash Flow Hedge……Page 608
Case 4: Speculation in Foreign Currency Markets……Page 611
Foreign Exchange Matrix……Page 613
Hedges of a Net Investment in a Foreign Entity……Page 614
Appendix 11A Illustration of Valuing Forward Exchange Contracts with Recognition for the Time Value of Money……Page 615
Appendix 11B Use of Other Financial Instruments by Multinational Companies……Page 618
Cases……Page 630
Exercises……Page 632
Problems……Page 643
Kaplan CPA Review……Page 651
McDonald’s—The World’s Fast Food Favorite……Page 652
Convergence of Accounting Principles……Page 654
Determination of the Functional Currency……Page 656
Translation versus Remeasurement of Foreign Financial Statements……Page 658
Translation of Functional Currency Statements into the Reporting Currency of the U.S. Company……Page 661
Financial Statement Presentation of Translation Adjustment……Page 662
Illustration of Translation and Consolidation of a Foreign Subsidiary……Page 663
Noncontrolling Interest of a Foreign Subsidiary……Page 673
Remeasurement of the Books of Record into the Functional Currency……Page 674
Statement Presentation of Remeasurement Gain or Loss……Page 675
Illustration of Remeasurement of a Foreign Subsidiary……Page 676
Proof of Remeasurement Exchange Gain……Page 678
Remeasurement Case: Subsequent Consolidation Worksheet……Page 679
Foreign Investments and Unconsolidated Subsidiaries……Page 681
Hedge of a Net Investment in a Foreign Subsidiary……Page 683
Statement of Cash Flows……Page 684
Intercompany Transactions……Page 685
Translation When a Third Currency Is the Functional Currency……Page 687
Questions……Page 688
Cases……Page 689
Exercises……Page 693
Problems……Page 703
Kaplan CPA Review……Page 714
Segment Reporting at Walmart……Page 715
International Financial Reporting Standards for Operating Segments……Page 716
Defining Reportable Segments……Page 717
Comprehensive Disclosure Test……Page 723
Reporting Segment Information……Page 724
Information about Products and Services……Page 725
Information about Geographic Areas……Page 726
The Format of the Quarterly Financial Report……Page 727
International Financial Reporting Standards for Interim Reporting……Page 728
Revenue……Page 729
Cost of Goods Sold and Inventory……Page 730
All Other Costs and Expenses……Page 733
Accounting for Income Taxes in Interim Periods……Page 735
Change in an Accounting Principle (Retrospective Application)……Page 739
Change in a Reporting Entity (Retrospective Application)……Page 740
Questions……Page 741
Cases……Page 742
Exercises……Page 746
Problems……Page 755
The Genesis of Securities Regulation……Page 762
International Harmonization of Accounting Standards for Public Offerings……Page 763
Organizational Structure of the Commission……Page 764
The Regulatory Structure……Page 765
Issuing Securities: The Registration Process……Page 768
SEC Review and Public Offering……Page 769
Periodic Reporting Requirements……Page 770
Electronic Data Gathering, Analysis, and Retrieval (EDGAR) System……Page 773
Sarbanes-Oxley Act of 2002……Page 774
Title III: Corporate Responsibility……Page 775
Title VII: Studies and Reports……Page 776
Dodd-Frank Wall Street Reform and Consumer Protection Act……Page 777
Pro Forma Disclosures……Page 778
Key Terms……Page 780
Cases……Page 781
Exercises……Page 785
The Evolution of PricewaterhouseCoopers (PwC)……Page 790
Legal Regulation of Partnerships……Page 791
Other Major Characteristics of Partnerships……Page 792
International Financial Reporting Standards for Small and Medium-Size Entities and Joint Ventures……Page 795
Illustration of Accounting for Partnership Formation……Page 796
Accounting for the Operations of a Partnership……Page 797
Partners’ Accounts……Page 798
Allocating Profit or Loss to Partners……Page 799
Illustrations of Profit Allocation……Page 800
Multiple Profit Allocation Bases……Page 803
Changes in Membership……Page 804
General Concepts to Account for a Change in Membership in the Partnership……Page 805
New Partner Purchases Partnership Interest Directly from an Existing Partner……Page 806
New Partner Invests in Partnership……Page 809
Determining a New Partner’s Investment Cost……Page 821
Disassociation of a Partner from the Partnership……Page 822
Summary of Key Concepts……Page 824
Appendix 15A Tax Aspects of a Partnership……Page 825
Appendix 15B Joint Ventures……Page 826
Questions……Page 828
Cases……Page 829
Exercises……Page 830
Problems……Page 837
The Demise of Laventhol & Horwath……Page 844
Disassociation, Dissolution, Winding-Up, and Liquidation of a Partnership……Page 845
Illustration of a Lump-Sum Liquidation……Page 847
Installment Liquidations……Page 852
Illustration of Installment Liquidation……Page 853
Cash Distribution Plan……Page 857
Incorporation of a Partnership……Page 859
Appendix 16A Partners’ Personal Financial Statements……Page 861
Questions……Page 864
Cases……Page 865
Exercises……Page 866
Problems……Page 876
Accounting for the Bustling City of San Diego……Page 882
Differences between Governmental and Private Sector Accounting……Page 883
History of Governmental Accounting……Page 884
Elements of Financial Statements……Page 885
Definitions and Types of Funds……Page 886
Financial Reporting of Governmental Entities……Page 888
Fund-Based Financial Statements: Governmental Funds……Page 890
Measurement Focus and Basis of Accounting (MFBA)……Page 892
Basis of Accounting—Governmental Funds……Page 893
Basis of Accounting—Fiduciary Funds……Page 896
Recording the Operating Budget……Page 897
The Expenditure Process……Page 898
Classification of Expenditure Transactions and Accounts……Page 900
Outstanding Encumbrances at the End of the Fiscal Period……Page 901
Expenditures for Inventory……Page 904
Accounting for Fixed Assets……Page 906
Long-Term Debt and Capital Leases……Page 907
Interfund Activities……Page 908
(2) Interfund Services Provided and Used……Page 909
(4) Interfund Reimbursements……Page 910
Adoption of the Budget……Page 911
Property Tax Levy and Collection……Page 913
Other Revenue……Page 914
Acquisition of Capital Asset……Page 915
Adjusting Entries……Page 916
Closing Entries……Page 917
General Fund Financial Statement Information……Page 918
Key Terms……Page 921
Cases……Page 922
Exercises……Page 924
Problems……Page 932
Governmental Accounting in Maryland……Page 940
Summary of Governmental Fund Types……Page 941
Special Revenue Funds……Page 943
Illustration of Transactions……Page 947
Financial Statement Information for the Capital Projects Fund……Page 949
Illustration of Transactions……Page 950
Illustration of Transactions……Page 953
Governmental Funds Financial Statements……Page 954
Enterprise Funds……Page 957
Illustration of Transactions……Page 958
Financial Statements for the Proprietary Funds……Page 960
Illustration of Transactions……Page 963
Trust Funds……Page 965
Illustration of Private-Purpose Trust Fund……Page 966
Agency Funds……Page 967
Four Major Issues……Page 968
Government Financial Reports……Page 970
Governmentwide Financial Statements……Page 971
Reconciliation Schedules……Page 975
Budgetary Comparison Schedule……Page 976
Notes to the Governmentwide Financial Statements……Page 977
Auditing Governmental Entities……Page 978
Special-Purpose Governmental Entities……Page 979
Appendix 18A Other Governmental Entities—Public School Systems and the Federal Government……Page 980
Questions……Page 982
Cases……Page 983
Exercises……Page 984
Problems……Page 996
United Way Worldwide……Page 1007
Financial Reporting for Private, Not-for-Profit Entities……Page 1008
Additional Standards for Not-for-Profit Entities……Page 1010
Special Conventions of Revenue and Expenditure Recognition……Page 1012
Private Colleges and Universities……Page 1013
Health Care Providers……Page 1014
Hospital Accounting……Page 1016
Financial Statements for a Not-for-Profit Hospital……Page 1020
Comprehensive Illustration of Hospital Accounting and Financial Reporting……Page 1024
Temporarily Restricted Funds……Page 1031
Accounting for a VHWO……Page 1035
Financial Statements for a VHWO……Page 1036
Summary of Accounting and Financial Reporting for VHWOs……Page 1044
Financial Statements of an ONPO……Page 1046
Summary of Accounting and Financial Reporting for an ONPO……Page 1048
Summary of Key Concepts……Page 1049
Questions……Page 1050
Cases……Page 1051
Exercises……Page 1054
Problems……Page 1064
GM in Financial Distress……Page 1077
Nonjudicial Actions……Page 1079
Judicial Actions……Page 1080
Chapter 11 Reorganizations……Page 1081
Fresh Start Accounting……Page 1083
Illustration of a Reorganization……Page 1084
Creditors with Priority……Page 1092
Statement of Affairs……Page 1094
Trustee Accounting and Reporting……Page 1095
Summary of Key Concepts……Page 1100
Cases……Page 1101
Exercises……Page 1103
Problems……Page 1106
Index……Page 1111

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