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• Title Page
• Copyright Page
• Dedication
• Pearson’s Commitment to Diversity, Equity, and Inclusion
• Contents
• Preface to the Twelfth Edition
• Organization of the Twelfth Edition
• Uses for the Twelfth Edition
• Features of the Twelfth Edition
• Acknowledgments
• Author Bio
• Chapter 1. Financial Statements: An Overview
• Map or Maze
• Usefulness
• Volume of Information
• Global Economy
• Where to Find a Company’s Financial Statements
• The Financial Statements
• Notes to the Financial Statements
• Auditor’s Report
• Financial Reporting Reforms
• Management Discussion and Analysis
• Pandora (a.k.a. “PR Fluff”)
• Proxy Statement
• Missing and Hard-to-Find Information
• Characteristics, Assumptions, Principles, and Basis of Accounting
• Complexities and the Quality of Financial Reporting
• Accounting Choices
• Timing of Revenue and Expense Recognition
• Discretionary Items
• The Journey Through the Maze Continues
• Appendix 1A. Sage Inc. 2024 Annual Report
• Self-Test
• Study Questions and Problems
• Case 1.1 Analysis Case
• Case 1.2 Comprehensive Team Analysis Case
• Case 1.3 Locating Information in a Form 10-K
• Case 1.4 CPA Evolution Model Curriculum Case
• Chapter 2. The Balance Sheet
• Financial Condition
• Consolidation
• Balance Sheet Date
• Comparative Data
• Balance Sheet Format
• Common-Size Balance Sheet
• Assets
• Current Assets
• Cash and Cash Equivalents
• Marketable Securities
• Accounts Receivable
• Inventories
• Inventory Accounting Methods
• Prepaid Expenses
• Property, Plant, and Equipment
• Straight Line
• Accelerated
• Cryptocurrency
• Goodwill
• Other Assets
• Liabilities
• Current Liabilities
• Accounts Payable
• Short-Term Debt
• Current Maturities of Long-Term Debt
• Accrued Liabilities
• Unearned Revenue or Deferred Credits
• Deferred Federal Income Taxes
• Long-Term Debt
• Leases
• Pensions and Postretirement Benefits
• Commitments and Contingencies
• Stockholders’ Equity
• Common Stock
• Additional Paid-In Capital
• Retained Earnings
• Other Equity Accounts
• Quality of Financial Reporting—The Balance Sheet
• Other Balance Sheet Items
• Self-Test
• Study Questions and Problems
• Case 2.1 Analysis Case
• Case 2.2 Comprehensive Team Analysis Case
• Case 2.3 CPA Evolution Model Curriculum Case
• Chapter 3. Income Statement, Comprehensive Income, and Statement of Stockholders’ Equity
• The Income Statement and Comprehensive Income
• Common-Size Income Statement
• Net Sales
• Cost of Goods Sold
• Gross Profit
• Operating Expense
• Operating Profit
• Other Income (Expense)
• Equity Earnings
• Unusual and Infrequent Items
• Earnings before Income Taxes/Effective Tax Rate
• Discontinued Operations
• Net Earnings
• Earnings per Common Share
• Statement of Comprehensive Income
• The Statement of Stockholders’ Equity
• Earnings Quality, Cash Flow, and Segmental Accounting
• Appendix 3A. A Guide to Earnings Quality
• Self-Test
• Study Questions and Problems
• Case 3.1 Analysis Case
• Case 3.2 Comprehensive Team Analysis Case
• Case 3.3 CPA Evolution Model Curriculum Case
• Chapter 4. Statement of Cash Flows
• Why Cash Flow Is Important: An Example
• Statement of Cash Flows: Basic Principle
• Preparing a Statement of Cash Flows
• Calculating Cash Flow from Operating Activities
• Indirect Method
• Cash Flow from Investing Activities
• Cash Flow from Financing Activities
• Change in Cash
• Analyzing the Statement of Cash Flows
• Cash Flow from Operations
• Nocash Corporation
• Sage Inc.: Analysis of the Statement of Cash Flows
• Sage Inc. Analysis: Cash Flow from Operating Activities
• Summary Analysis of the Statement of Cash Flows
• Analysis of Cash Inflows
• Analysis of Cash Outflows
• Qualitative Issues Relating to the Statement of Cash Flows
• Are We There Yet?
• Appendix 4A. Statement of Cash Flows—Direct Method
• Self-Test
• Study Questions and Problems
• Case 4.1 Analysis Case
• Case 4.2 Comprehensive Team Analysis Case
• Case 4.3 CPA Evolution Model Curriculum Case
• Chapter 5. The Analysis of Financial Statements
• Objectives of Analysis
• Sources of Information
• Proxy Statement
• Auditor’s Report
• Management Discussion and Analysis
• Supplementary Schedules
• Form 10-K and Form 10-Q
• Other Sources
• Tools and Techniques
• Common-Size Financial Statements
• Key Financial Ratios
• Liquidity Ratios: Short-Term Solvency
• Cash Conversion Cycle or Net Trade Cycle
• Activity Ratios: Asset Liquidity, Asset Management Efficiency
• Leverage Ratios: Debt Financing and Coverage
• Profitability Ratios: Overall Efficiency and Performance
• Market Ratios
• Analyzing the Data
• Background: Economy, Industry, and Firm
• Short-Term Liquidity
• Operating Efficiency
• Capital Structure and Long-Term Solvency
• Profitability
• Relating the Ratios—The Du Pont System
• Projections and Pro Forma Statements
• Summary of Analysis
• Financial Statements: A Map
• Appendix 5A. The Analysis of Segmental Data
• Self-Test
• Study Questions and Problems
• Case 5.1 Analysis Case
• Case 5.2 Comprehensive Team Analysis Case
• Case 5.3 CPA Evolution Model Curriculum Case
• Appendixes
• Appendix A. Summary of Financial Ratios
• Appendix B. Solutions to Self-Tests
• Appendix C. Glossary
• Index
• A
• B
• C
• D
• E
• F
• G
• H
• I
• J
• K
• L
• M
• N
• O
• P
• Q
• R
• S
• T
• U
• V
• W
• X