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• Cover
• PREFACE TO THE NINTH EDITION
• Part One FUNDAMENTALS
• 1 STARTING WITH CASH FLOWS
• Summary of Cash Flows for a Business
• What Does Cash Flows Summary Not Tell You?
• Profit Is Not Measured by Cash Flows
• Cash Flows Do Not Reveal Financial Condition
• A Final Note Before Moving On
• 2 TWO BEDROCK FINANCIAL STATEMENTS
• Need for Financial Information
• Reporting Profit Performance: The Income Statement
• Reporting Financial Condition: The Balance Sheet
• 3 REPORTING CASH FLOWS
• Statement of Cash Flows
• Cash Versus Accrual Accounting
• Financial Tasks of Business Managers
• 4 FITTING TOGETHER FINANCIAL STATEMENTS
• One Problem in Financial Reporting
• Connecting the Dots
• Part Two CONNECTIONS
• 5 SALES REVENUE AND ACCOUNTS RECEIVABLE
• Exploring One Link at a Time
• How Sales Revenue Drives Accounts Receivable
• Accounting Issues
• 6 COST OF GOODS SOLD EXPENSE AND INVENTORY
• Holding Products in Inventory Until They Are Sold
• Inventory Control
• Accounting Issues
• 7 INVENTORY AND ACCOUNTS PAYABLE
• Acquiring Inventory on the Cuff
• Accounting Issues
• 8 OPERATING EXPENSES AND ACCOUNTS PAYABLE
• Recording Expenses Before They Are Paid
• Accounting Issues
• 9 OPERATING EXPENSES AND PREPAID EXPENSES
• Paying Certain Operating Costs Before They Are Recorded as Expenses
• Accounting Issues: Using Prepaid Expenses to Massage the Numbers
• 10 DEPRECIATION EXPENSE AND PROPERTY, PLANT, AND EQUIPMENT
• Overview of Expense Accounting
• Depreciation Expense
• Accumulated Depreciation and Book Value of Fixed Assets
• Book Values and Current Replacement Costs
• Intangible Assets
• Accounting Issues
• 11 ACCRUING LIABILITY FOR UNPAID EXPENSES
• Recording Accrued Liability for Operating Expenses
• Bringing Interest Expense Up to Snuff
• Accounting Issues
• 12 INCOME TAX EXPENSE AND ITS LIABILITY
• Taxation of Business Profit
• Accounting Issues
• 13 NET INCOME AND RETAINED EARNINGS, AND EARNINGS PER SHARE (EPS)
• Net Income into Retained Earnings
• Earnings per Share (EPS)
• Accounting Issues
• 14 CASH FLOW FROM OPERATING (PROFIT-SEEKING) ACTIVITIES
• Profit Versus Cash Flow from Profit
• Changes in Assets and Liabilities That Impact Cash Flow from Operating Activities
• The Direct Method for Reporting Cash Flow from Operating Activities
• Profit Before the Bottom Line
• Accounting Issues
• 15 CASH FLOWS FROM INVESTING AND FINANCING ACTIVITIES
• Completing the Statement of Cash Flows
• Seeing the Big Picture of Cash Flows
• Accounting Issues
• Part Three USING FINANCIAL STATEMENTS
• 16 FOOTNOTES AND MANAGEMENT DISCUSSIONS
• Financial Report Content in Addition to Financial Statements
• Financial Statements—Brief Review
• Why Footnotes?
• Two Types of Footnotes
• Management Discretion in Writing Footnotes
• Analysis Issues
• 17 FINANCIAL STATEMENT RATIOS AND ANALYSIS
• Financial Reporting Ground Rules
• Financial Statement Preliminaries
• Benchmark Financial Ratios
• Two Cash Flow Ratios to Chew On
• Final Comments
• 18 FINANCIAL ENGINEERING
• What Financial Engineering Is Not
• What Financial Engineering Is
• 19 CPAs AND FINANCIAL REPORTS
• Certified Public Accountant (CPA)
• From Preparation to Audit of Financial Reports by CPAs
• Why Audits?
• Do Auditors Discover Financial Reporting Fraud?
• 20 BASIC QUESTIONS, BASIC ANSWERS
• When You Buy Stock Does the Company Get Your Money?
• Are Financial Reports Reliable?
• Are Some Financial Statements Misleading and Fraudulent?
• Should You Take the Time to Compute Financial Statement Ratios?
• Why Read Financial Statements, Then, If You Won’t Find Information That Has Been Overlooked by Others?
• The Financial Statements and Footnotes of Large Public Companies Would Take Several Hours to Read Carefully: What’s the Alternative?
• Is There a Basic Test to Gauge a Company’s Financial Performance?
• Do Financial Statements Report the Truth, the Whole Truth, and Nothing but the Truth?
• Does Its Financial Report Explain the Basic Profit-Making Strategy or Profit Model of a Business?
• Does the Market Price of a Public Company’s Stock Shares Depend Directly and Only on the Information Reported in Its Financial Statements?
• Does the Balance Sheet of a Private Business Tell the Market Value of the Business?
• Do Books on Investing and Personal Finance Refer to Financial Statements?
• A Very Short Summary
• ABOUT THE AUTHORS
• INDEX
• END USER LICENSE AGREEMENT