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 IQWhat’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 Decisions1.3　The Accounting Equation and the Basic Financial Statements1.4　Financial Statement Analysis 1.5　Business Risks and Controls1.6　Let’s Go for a Test Drive1.7　Rapid ReviewChapter 2: Preparing Financial Statements and Analyzing Business Transactions2.1　Objectives, Assumptions, and Qualifies of Financial Reporting 2.2　A Closer Look at the Balance Sheet2.3　A Closer Look at the Income Statement 2.4　A Closer Look at the Statement of Changes in Shareholders’ Equity 2.5　Cash Flows2.6　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 ReviewChapter 3: The Accounting Information System and the Accounting Cycle 3.1　Keeping Track of Business Transactions3.2　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 Controls3.7　Let’s Go for a Test Drive3.8　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 Statements4.4　Closing the Revenue and Expense Accounts4.5　Financial Statement Analysis 4.6　Business Risks and Controls 4.7　Let’s Go for a Test Drive4.8　Rapid ReviewChapter 5: Accounting for Merchandising Operations 5.1　Merchandising firms5.2　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: Inventory6.7　Let’s Go for a Test Drive 6.8　Rapid Review 6.9　The mechanics Chapter 7: Cash, Accounts Receivable, and Bad Debt Expense7.1　Accounts Receivable and Bad Debt Expense7.2　Accounting for Credit Card Sales7.3　Notes Receivable7.4　Controlling Cash7.5　Reporting Case7.6　Analyzing Accounts Receivable with Ratio Analysis7.7　Business Risk and Control7.8　Let’s Go for a Test Drive7.9　Rapid ReviewChapter 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: Amortization8.4　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 Debt9.9　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 Splits10.5　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 Control11.10　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 strategy12.2　General analysis 12.3　Comparative analysis 12.4　Ratio analysis 12.5　Financial Statement Analysis Comprehensive Problem12.6　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 Earnings13.3　Common Ways to Manipulate Earnings 13.4　What We Learned from the Scandals of the Early 2000s13.5　The Sarbanes-Oxley Act of 200213.6　Evaluating Corporate Governance13.7　Let’s Take a Test Drive13.8　Rapid Review