FINANCIAL ACCOUNTING BY REIMERS

　　For an Introduction to Financial Accounting course. Traditional organization for a course combining both "preparer" and "user" approaches. Integrates recent changes in the post-Enron business environment AND presents strong accounting fundamentals.

　　Reimers Financial Accounting 1/e: How Accounting is Driving Change in Business.

　　Jane L. Reimers, Crummer Graduate School of Business, Rollins College, Winter Park, Florida

　　Jane Reimers has taught introductory financial accounting for over 20 years, to students with a wide range of abilities and backgrounds. After earning her Ph.D. from the University of Michigan, where she first taught financial accounting, she spent four years at Duke, fourteen years at Florida State, and the past three years at Rollins College in Winter Park, Florida. Her students have been traditional and non-traditional, and they have been accounting and other business majors, economics majors, fashion design majors, sports management majors, and even IRS employees who needed an introductory course in financial accounting. She has lectured in auditoriums, taught in small- and medium sized-classrooms, and coordinated an on-line course for hundreds of students. With an undergraduate degree in education and graduate degrees in accounting and a wealth of teaching experience, she has written a book for this exact time in the history of accounting education. She hopes both students and instructors come away with the enthusiasm and respect she has for accounting.

Getting Started: Your Business IQ
What’s Your Business IQ?

Chapter 1: The Link Between Business and Accounting
1.1　What is Accounting and Why is it Important to Business?
1.2　Using Financial Reports to Make Decisions
1.3　The Accounting Equation and the Basic Financial Statements
1.4　Financial Statement Analysis
1.5　Business Risks and Controls
1.6　Let’s Go for a Test Drive
1.7　Rapid Review

Chapter 2: Preparing Financial Statements and Analyzing Business Transactions
2.1　Objectives, Assumptions, and Qualifies of Financial Reporting
2.2　A Closer Look at the Balance Sheet
2.3　A Closer Look at the Income Statement
2.4　A Closer Look at the Statement of Changes in Shareholders’ Equity
2.5　Cash Flows
2.6　Notes to the Financial Statements
2.7　A Summary of the Assumptions, Principles, and Constraints in Financial Reporting
2.8　Business Transactions and the Financial Statements
2.9　Financial Statement Analysis: The Current Ratio
2.10　Business Risk and Internal Controls
2.11　Let’s Go for a Test Drive
2.12　Rapid Review

Chapter 3: The Accounting Information System and the Accounting Cycle
3.1　Keeping Track of Business Transactions
3.2　Using Debits and Credits to Record Transactions
3.3　The Accounting Cycle
3.4　Recording and Posting Transactions and Preparing a Trial Balance
3.5　Financial Statement Analysis
3.6　Business Risks and Controls
3.7　Let’s Go for a Test Drive
3.8　Rapid Review

Chapter 4: Accrual Basis Accounting and the Accounting Cycle
4.1　Measuring Income – Recording Revenues and Expense
4.2　Timing Differences
4.3　Making Adjusting Entries and Preparing the Financial Statements
4.4　Closing the Revenue and Expense Accounts
4.5　Financial Statement Analysis
4.6　Business Risks and Controls
4.7　Let’s Go for a Test Drive
4.8　Rapid Review

Chapter 5: Accounting for Merchandising Operations
5.1　Merchandising firms
5.2　Acquiring Merchandise for Sale
5.3　Sale of Merchandise
5.4　Recording Inventory: Perpetual versus Periodic Recordkeeping
5.5　Multi-step Income Statement
5.6　Financial Statement Analysis—Gross Profit Ratio and Profit Margin Ratio
5.7　Business Risks and Internal Controls
5.8　Let’s Go for a Test Drive.
5.9　Rapid Review

Chapter 6: Reporting and Analyzing Inventory
6.1　Determining What Belongs in the Inventory
6.2　Inventory Cost Flow Assumptions
6.3　How Cost Flow Assumptions Affect Financial Statements
6.4　Complications in Valuing Inventory—Lower-of-cost-or-market Rule
6.5　Financial Statement Analysis: Inventory Turnover
6.6　Business Risk and Control: Inventory
6.7　Let’s Go for a Test Drive
6.8　Rapid Review
6.9　The mechanics

Chapter 7: Cash, Accounts Receivable, and Bad Debt Expense
7.1　Accounts Receivable and Bad Debt Expense
7.2　Accounting for Credit Card Sales
7.3　Notes Receivable
7.4　Controlling Cash
7.5　Reporting Case
7.6　Analyzing Accounts Receivable with Ratio Analysis
7.7　Business Risk and Control
7.8　Let’s Go for a Test Drive
7.9　Rapid Review

Chapter 8: Reporting and Interpreting Long-term Operational Assets
8.1　Acquiring Plant Assets
8.2　Using Long-term Tangible Assets:　Depreciation and Depletion
8.3　Using Intangible Assets: Amortization
8.4　Changes after the Purchase of the Asset
8.5　Selling Long-term Assets
8.6　Presentation of Long-term Assets of the Financial Statements
8.7　Financial Statement Analysis – Return on Assets and Asset Turnover
8.8　Business Risk and Control
8.9　Let’s Go for a Test Drive
8.10　Rapid Review

Chapter 9: Reporting and Understanding Liabilities
9.1　Definitely Determinable Liabilities
9.2　Estimated Liabilities
9.3　Long-term Notes Payable and Mortgages
9.4　Long-Term Liabilities: Raising Money by Issuing Bonds
9.6　Financial Statement Analysis – Financial Leverage and Debt Ratios
9.8　Business Risk and Controls – Long-Term Debt
9.9　Let’s Go for a Test Drive
9.10　Rapid Review

Chapter 10: Reporting and Understanding Shareholders’ Equity
10.1　Components of Shareholders’ Equity in a Corporation – Contributed Capital
10.2　Cash Dividends
10.3　Treasury Stock
10.4　Stock Dividends and Stock Splits
10.5　Retained Earnings
10.6　Financial Statement Analysis
10.7　Business Risk and Control 10.7a. Owners’ Risks
10.8　Let’s Go for a Test Drive

Chapter 11: More About the Statement of Cash Flows
11.1　Categories of Cash Flows
11.2　Accrual-Basis Accounting Versus Cash-Basis Accounting
11.3　Overview of the Two Methods of Preparing and Presenting the Statement of ash Flows
11.4　Statement of Cash Flows – Indirect Method
11.5　Cash Flows from Operating Activities – Direct Method
11.6　Cash from Investing and Financing Activities
11.7　Putting it all Together to Prepare the Statement of Cash Flows
11.8　Financial Statement Analysis – Using Cash Flows to Evaluate Performance
11.9　Business Risk and Control
11.10　Let’s Go for a Test Drive
11.11　Rapid Review

Chapter 12: More About Financial Statement Analysis
12.1　Accounting as an element of strategy
12.2　General analysis
12.3　Comparative analysis
12.4　Ratio analysis
12.5　Financial Statement Analysis Comprehensive Problem
12.6　Let’s Go for a Test Drive
12.7　Rapid Review

Chapter 13: Quality of Earnings and Corporate Governance
13.1　Why are Earnings Important?
13.2　The Quality of Earnings
13.3　Common Ways to Manipulate Earnings
13.4　What We Learned from the Scandals of the Early 2000s
13.5　The Sarbanes-Oxley Act of 2002
13.6　Evaluating Corporate Governance
13.7　Let’s Take a Test Drive
13.8　Rapid Review