A |
Account |
| common
types of, 152154 | | defined,
395 | | entries
in, 395 | | ledger
account, 443 | | negative
balance, 399 | | normal
balance, 397, 429 | | numbering,
445 | | rules
for increasing and decreasing, 397 |
Account form balance sheet, 300 |
Accounting cycle, 521 |
Accounting |
| conceptual
framework of, 356, 362 | | defined,
218 | | ethics
in, 223227 | | objectives
of, 357, 362 | | process
of, Learning Goal 10 | Accounting
equation | | analyze
cumulative effects of transactions, Learning Goal 9 |
| analyze
individual transactions, | | Learning
Goal 6 | | visualizing,
57, 59 | Accounts
payable, defined, 154 | Accounts
receivable, defined, 7, 152 | Accumulated
other comprehensive income,
624, 625 | Added
value, 11 | Additional
paid-in capital, 621, see
also paid-in capital in excess
of par | Advances
from customers, see
unearned revenue | Annual
report, 280 | American
Institute of Certified Public Accountants
(AICPA) 368 | Arthur
Andersen Company, 227,
280 | Articles
of incorporation, 541 | Articulation
of financial statements,
317 | |
Assets |
| accounting equation
and, 59 | | balance
sheet presentation, 300 | | characteristics
of, 38 | | common
types summarized, 152154 |
| defined, 37 |
| loan
security, 50 | | monetary
and non-monetary, 39, 41 |
| normal
(natural) balance of, 429 | | recording
rules, 399, 429 | | valuation
of, 220 | B |
Balance
sheet | | account
form, 300 | | compared
to other financial statements, 311, 312, 316, 320 |
| connection
to the income statement, 316 |
| defined, 300 |
| features
of, 300-301 | | preparation
procedures, 302-304 | | report
form, 300 | Basic
earnings per share, see earnings per
share | Board
of directors, 540, | Bookkeeping,
defined, 221 | Book
value, 641-642 | Business |
| defined,
4 | | effects
of management, 16, 53 | | types
of, 5 | | using
resources to add value, 911 | | visualizing
picture of, 59 | Bylaws,
541 | C |
Callable preferred stock,
570 | Capital
stock, 567 | Capital,
various financial meanings of, 559 | |
Capital account, |
| elements of, 411412 |
| rules
for recording changes in, 399, 412 |
Capital statement, see statement
of owners equity |
Capital surplus, 621, see also
paid-in capital in excess of par |
Cash |
| defined,
152 | | on
balance sheet, 303 | | on
statement of cash flows, 309 | CEO,
see chief executive officer | CFO,
see chief financial officer | Certified
management accountant (CMA), 223 |
Certified public accountant (CPA),
223 | Change
in accounting principle, 601 | Charge
an account, 428 | Chart
of accounts, 445 | Charter,
541 | Chief
executive officer, defined 539 | Chief
financial officer, defined 539 | Classification,
valuation, and timing, 219-220 |
Common stock, 553, 559-560 |
Common stock distributable,
595 | Common
stock subscribed, 563 | Common
stock transactions, Learning Goals 29 and 30 |
Comparability of information,
283 | Comprehensive
income, 624 | Computerized
accounting, compared to manual, 522 |
Conceptual framework of accounting,
356, 362 | Conservatism,
361 | Contra
equity accounts, 587, see also subscriptions receivable |
Controller, 540 |
Consistency of information,
283 | Cooper,
Cynthia, 258, 276 | |