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    PREFACE

    We have designed this book primarily for a one-semester course in financial accounting at the undergraduate level. However, with some modifications in the topics covered or in the depth at which you cover them, you can adapt the book to a one-quarter course at the MBA level or to a two-quarter sequence of courses at the undergraduate level. Suggested outlines for courses with 30, 45, and 60 class contact hours appear on pages vii, viii, and ix. Differences in End of Chapter Material between 9e and 10e appear on pages xi through xxvii following the Sample Course Outlines. A list of Teaching Transparencies, which are available from the publisher in a separate package, appears on pages xxix through xxxi.

    The 30-contact-hours outline provides an overview of the essential concepts and procedures but little depth on any of the topics. The 45-contact-hours outline provides adequate coverage of the concepts and procedures and permits the spending of some time on financial statement analysis. The principal difference between the 45- and 60-contact-hours outlines is in the number of questions and problems assigned on each topic.

    Chapter 3 is critical to students’ understanding of accrual accounting. You may wish to devote

    more class time to this chapter than we suggest. Students have difficulty with Chapter 4, covering the statement of cash flows, so it may warrant additional time. You may delete or deemphasize some of the material in Chapters 11 and 13 in order to devote more time to Chapters 3 and 4.

    Some instructors prefer to cover the statement of cash flows (Chapters 4 and 13) at the end of the course. You can easily delay coverage of these chapters until after Chapter 12 without causing any difficulties in teaching Chapters 6 through 12.

    Next, we present a set of Notes and Comments for each chapter. The Notes and Comments include three elements. First, a list of learning objectives summarizes the critical concepts and procedures in the chapter. Second, some suggestions for structuring class presentations of the material in the chapter appear. Third, we provide a set of lecture outlines along with some teaching hints which we have found to be useful. We base the Notes and Comments on our experiences in using the text. We would like your suggestions as to how we might improve this book in subsequent editions.

    You will find a web site for this book at HYPERLINK http://stickney.swcollege.com. The web site includes reading material and problem assignments for selected topics not covered in the book, including foreign currency translations, pension and healthcare benefits, consolidation when a minority interest exists, accounting for the effects of changing prices, and deferred tax accounting following a balance sheet approach.

     C.P.S.

     R.L.W.

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    CONTENTS

    SUGGESTED COURSE OUTLINE:

     30 CONTACT HOURS.......................................................................................... vii

     45 CONTACT HOURS.......................................................................................... viii

     60 CONTACT HOURS.......................................................................................... ix

    DIFFERENCES IN END OF CHAPTER MATERIAL BETWEEN 9/E AND 10/E ........ xi--xxvii

LIST OF TEACHING TRANSPARENCIES ................................................................ xxix--xxxi

NOTES AND COMMENTS:

CHAPTER 1: INTRODUCTION TO BUSINESS ACTIVITIES AND

    OVERVIEW OF FINANCIAL STATEMENTS AND THE

    REPORTING PROCESS.............................................................. 1-11-9

CHAPTER 2: BALANCE SHEET: PRESENTING THE INVESTMENTS

    AND FINANCING OF A FIRM .................................................... 2-12-4

CHAPTER 3: INCOME STATEMENT: REPORTING THE RESULTS OF

    OPERATING ACTIVITIES .......................................................... 3-13-10

CHAPTER 4: STATEMENT OF CASH FLOWS: REPORTING THE

    EFFECTS OF OPERATING, INVESTING, AND FINANCING

    ACTIVITIES ON CASH FLOWS.................................................. 4-14-6

    CHAPTER 5: INTRODUCTION TO FINANCIAL STATEMENT ANALYSIS ...... 5-15-7

    CHAPTER 6: RECEIVABLES AND REVENUE RECOGNITION ....................... 6-16-5

    CHAPTER 7: INVENTORIES: THE SOURCE OF OPERATING PROFITS ....... 7-17-7

CHAPTER 8: PLANT, EQUIPMENT, AND INTANGIBLE ASSETS: THE

    SOURCE OF OPERATING CAPACITY ....................................... 8-18-5

    CHAPTER 9: LIABILITIES: INTRODUCTION ................................................ 9-19-8

CHAPTER 10: LIABILITIES: OFF-BALANCE-SHEET FINANCING,

    LEASES, DEFERRED INCOME TAXES, RETIREMENT

    BENEFITS, AND DERIVATIVES ................................................ 10-110-7

    CHAPTER 11: MARKETABLE SECURITIES AND INVESTMENTS ................... 11-111-5

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CHAPTER 12: REPORTING EARNINGS, COMPREHENSIVE INCOME,

    AND SHAREHOLDERS EQUITY ............................................... 12-112-7

    LOOK .................. 13-113-2 CHAPTER 13: STATEMENT OF CASH FLOWS: ANOTHER

    CHAPTER 14: SIGNIFICANCE AND IMPLICATIONS OF ALTERNATIVE

    ACCOUNTING PRINCIPLES ..................................................... 14-114-3

APPENDIX: COMPOUND INTEREST: CONCEPTS AND

    APPLICATIONS ......................................................................... A-1A-2

WEB SITE SOLUTIONS:

     ACCOUNTING FOR DEFERRED INCOME TAXES............................... DEFTAX-11

     ACCOUNTING FOR PENSION PLANS ................................................. PENSIONS-14

     CONSOLIDATION WITH A MINORITY INTEREST .............................. MININT-12

     FOREIGN CURRENCY TRANSLATION ............................................... FORCUR-118

     ACCOUNTING FOR THE EFFECTS OF CHANGING PRICES .............. PRICES-115

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    SUGGESTED COURSE OUTLINE

    30 Contact Hours

     Class

     Contact

     Chapter Hours Assignment

     1 1.0 1- 31

     2 2.0 2- 8, 6, 14, 24, 27, 37

     3 3.0 3- 20, 9, 10, 11, 12, 24, 31, 39

    a 4 3.0 4- 27, 30, 36, 38

    b 5 2.0 5- 11, 17, 21, 24, 27

     6 2.0 6- 13, 26, 24

     7 3.0 7- 35, 42, 26, 45, 49

     8 1.0 8- 19, 29

     Appendix 1.0 A- 10 through 18

     9 2.0 9- 2, 26, 27

     10 1.0 10- 25, 29

     11 2.0 11- 16, 25, 53

     12 1.0 12- 32

     13 1.0 13- 3, 17

     14 2.0 14- 17

     Exams 3.0

     Total Hours 30.0

aThe instructor can delay coverage of this material until after Chapter 12 without loss of continuity.

    bThe instructor can delay coverage of this material until after Chapter 14 without loss of continuity.

     vii

    SUGGESTED COURSE OUTLINE

    45 Contact Hours

     Class

     Contact

     Chapter Hours Assignment

     1 2.0 1- 17, 21, 23, 25, 29, 31

     2 2.0 2- 8, 6, 14, 24, 27, 37

     3 4.0 3- 20, 9, 10, 11, 12, 24, 29, 30, 40

    a 4 4.0 4- 16, 24, 27, 30, 35, 36, 38

    b 5 4.0 5- 11, 17, 21, 24, 27, 31

     6 3.0 6- 13, 26, 33, 24

     7 4.0 7- 34, 35, 42, 26, 45, 31, 49

     8 2.0 8- 19, 29, 33

     Appendix 1.0 A- 10 through 18

     9 3.0 9- 2, 19, 26, 27, 34

     10 2.0 10- 24, 25, 43, 29

     11 3.0 11- 16, 25, 49, 53

     12 2.0 12- 32, 22, 29

     13 2.0 13- 3, 14, 17

     14 3.0 14- 17, 19

     Exams 4.0

     Total Hours 45.0

aThe instructor can delay coverage of this material until after Chapter 12 without loss of continuity.

    bThe instructor can delay coverage of this material until after Chapter 14 without loss of continuity.

     viii

    SUGGESTED COURSE OUTLINE

    60 Contact Hours

     Class

     Contact

     Chapter Hours Assignment

     1 2.0 1- 17, 21, 23, 25, 29, 31

     2 3.0 2- 8, 6, 14, 24, 27, 19, 37, 39

     3 4.0 3- 20, 9, 10, 11, 12, 24, 29, 30, 40

    a 4 5.0 4- 16, 24, 27, 28, 30, 35, 36, 38

    b 5 5.0 5- 11, 17, 21, 24, 27, 31, 32

     6 4.0 6- 13, 26, 33, 24, 25

     7 5.0 7- 34, 35, 37, 42, 26, 45, 31, 49

     8 3.0 8- 15, 19, 29, 33, 38

     Appendix 2.0 A- 10 through 18, 20, 27

     9 4.0 9- 2, 19, 20, 26, 27, 34, 39

     10 4.0 10- 24, 25, 43, 29, 36, 37

     11 4.0 11- 16, 25, 49, 53, 52

     12 3.0 12- 32, 22, 29, 39

     13 3.0 13- 3, 10, 14, 17

     14 3.0 14- 17, 19

     Exams 6.0

     Total Hours 60.0

aThe instructor can delay coverage of this material until after Chapter 12 without loss of continuity.

    bThe instructor can delay coverage of this material until after Chapter 14 without loss of continuity.

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