Study Guide to Accompany Fundamentals of Financial Accounting

Front Cover
This helpful supplement augments each chapter and appendix with reviews of the learning objectives, outlines of the chapters, summaries of chapter materials, and additional problems with solutions.

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Contents

Chapter Page 1 Reporting and Interpreting the Financial Results of Business Activities
1
Reporting Investing and Financing Results on the Balance Sheet
29
Reporting Operating Results on the Income Statement
56
Adjustments Financial Statements and the Quality of Financial Reporting
93
Understanding Financial Statements and the Financial Reporting Environment
132
Internal Control and Financial Reporting for Merchandising Operations
160
Reporting and Interpreting Receivables Bad Debt Expense and Interest Revenue
199
Reporting and Interpreting Inventories and Cost of Goods Sold
226
Reporting and Interpreting LongLived Tangible and Intangible Assets
251
Reporting and Interpreting Liabilities
279
Reporting and Interpreting Stockholders Equity
315
Reporting and Interpreting the Statement of Cash Flows
343
Measuring and Evaluating Financial Performance
378
Present and Future Value Concepts
408
Reporting and Interpreting Investments in Other Corporations
422
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About the author (2005)

Robert Libby is the David A. Thomas Professor of Management Fred Phillips is a Professor and the George C. Baxter Charteat the Johnson Graduate School of Management at Cornell Univred Accountants of Saskatchewan Scholar at the University ofersity, where he teaches the introductory financial accounti Saskatchewan, where he teaches introductory financial accoung course. He previously taught at the University of Illinointing. He also has taught introductory accounting at the Unis, Pennsylvania State University, University of Texas at Ausversity of Texas at Austin and the University of Manitoba. Ftin, University of Chicago, and University of Michigan. He rred has an undergraduate accounting degree, a professional aeceived his B.S. from Pennsylvania State University and his ccounting designation, and a PhD from the University of TexaM.A.S. and Ph.D. from the University of Illinois; he is alsos at Austin. He previously worked as an audit manager at KPM a CPA. Bob is a widely published author specializing in behG. Fred's main interest is accounting education. He has won avioral accounting. He was selected as the AAA Outstanding Eeight teaching awards, including two national case-writing cducator in 2000. His prior text, Accounting and Human Informompetitions. He has published instructional cases and numeroation Processing (Prentice Hall, 1981), was awarded the AICPus articles in journals like Issues in Accounting Education,A/AAA Notable Contributions to the Accounting Literature Awa Journal of Accounting Research, and Organizational Behaviorrd. He received this award again in 1996 for a paper. He has and Human Decision Processes. Fred currently serves as an a published numerous articles in the Journal of Accounting Ressociate editor of Issues in Accounting Education, and he issearch; Accounting, Organizations, and Society; and other ac a member of the Teaching & Curriculum and Two-Year College counting journals. He is past Vice President-Publications ofsections of the American Accounting Association. In his spar the American Accounting Association and is a member of the e time, he likes to work out, play video games, and drink icAmerican Institute of CPAs and the editorial boards of The Aed cappuccino. ccounting Review; Accounting, Organizations, and Society; Journal of Accounting Literature; and Journal of Behavioral Decision Making.

Robert Libby is the David A. Thomas Professor of Management at the Johnson Graduate School of Management at Cornell University, where he teaches the introductory financial accounting course. He previously taught at the University of Illinois, Pennsylvania State University, University of Texas at Austin, University of Chicago, and University of Michigan. He received his B.S. from Pennsylvania State University and his M.A.S. and Ph.D. from the University of Illinois; he is also a CPA. Bob is a widely published author specializing in behavioral accounting. He was selected as the AAA Outstanding Educator in 2000. His prior text, Accounting and Human Information Processing (Prentice Hall, 1981), was awarded the AICPA/AAA Notable Contributions to the Accounting Literature Award. He received this award again in 1996 for a paper. He has published numerous articles in the Journal of Accounting Research; Accounting, Organizations, and Society; and other accounting journals. He is past Vice President-Publications of the American Accounting Association and is a member of the American Institute of CPAs and the editorial boards of The Accounting Review; Accounting, Organizations, and Society; Journal of Accounting Literature; and Journal of Behavioral Decision Making.

Patricia Libby is Chair of the Department of Accounting and Associate Professor of Accounting at Ithaca College, where she teaches the undergraduate financial accounting course. She previously taught graduate and undergraduate financial accounting at Eastern Michigan University and the University of Texas. Before entering academe, she was an auditor with Price Waterhouse (now PricewaterhouseCoopers) and a financial administrator at the University of Chicago. She received her B.S. from Pennsylvania State University, her M.B.A. from DePaul University, and her Ph.D. from the University of Michigan; she is also a CPA. Pat conducts research on using cases in the introductory course and other parts of the accounting curriculum. She has published articles in The Accounting Review, Issues in Accounting Education, and The Michigan CPA. She has also conducted seminars nation-wide on active learning strategies, including cooperative learning methods.

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