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Renowned for its flexibility, clarity, and comprehensiveness, this user-friendly book discusses the underlying theory and application of business combinations, consolidated financial statements, foreign currency transactions, partnerships, and accounting for fund and non-profit organizations.
* Tabs to distinguish among the three methods for recording investments in subsidiaries: light blue for complete equity, darker blue for partial equity, and none for cost.
* Worksheet organized by financial statements: Income Statement first, followed by Statement of Retained Earnings, and Balance Sheet last. Authors also attempt to present the worksheets as close to the relevant text as possible.

Tabla de contenidos provista por Syndetics

• I Accounting for Mergers and Acquisitions
• 1 Introduction to Business Combinations(p. 1)
• Learning Objectives(p. 1)
• Nature of the Combination(p. 4)
• Business Combinations: Why? Why Not?(p. 6)
• Business Combinations: Historical Perspective(p. 9)
• Terminology and Types of Combinations(p. 12)
• Takeover Premiums(p. 15)
• Avoiding the Pitfalls before the Deal(p. 17)
• Determining Price and Method of Payment in Business Combinations(p. 18)
• Alternative Concepts of Consolidated Financial Statements(p. 23)
• Summary(p. 27)
• Questions(p. 28)
• Exercises(p. 29)
• 2 Accounting for Business Combinations(p. 31)
• Learning Objectives(p. 31)
• Introduction to the Method of Accounting for Business Combinations(p. 31)
• Pro Forma Statements and Disclosure Requirement(p. 41)
• Explanation and Illustration of Purchase Accounting(p. 43)
• Financial Statement Differences between Accounting Methods(p. 47)
• Contingent Consideration in a Purchase(p. 50)
• Leveraged Buyouts(p. 54)
• Summary(p. 56)
• Appendix A Deferred Taxes in Business Combinations(p. 57)
• Questions(p. 58)
• Exercises(p. 59)
• Problems(p. 67)
• 3 Consolidated Financial Statements--Date of Acquisition(p. 72)
• Learning Objectives(p. 72)
• Definitions of Subsidiary and Control(p. 74)
• Requirements for the Inclusion of Subsidiaries in the Consolidated Financial Statements(p. 76)
• Reasons for Subsidiary Companies(p. 77)
• Consolidated Financial Statements(p. 77)
• Investments at the Date of Acquisition(p. 79)
• Consolidated Balance Sheets: The Use of Workpapers(p. 81)
• A Comprehensive Illustration--More Than One Subsidiary Company(p. 95)
• Limitations of Consolidated Statements(p. 97)
• Summary(p. 98)
• Appendix A Summary of Proposed FASB Statement(p. 99)
• Appendix B Deferred Taxes on the Date of Acquisition(p. 101)
• Appendix C Consolidation of Variable Interest Entities(p. 102)
• Questions(p. 104)
• Exercises(p. 105)
• Problems(p. 109)
• 4 Consolidated Financial Statements After Acquisition(p. 116)
• Learning Objectives(p. 116)
• Accounting for Investments by the Cost, Partial Equity, and Complete Equity Methods(p. 117)
• Consolidated Statements After Acquisition--Cost Method(p. 124)
• Recording Investments in Subsidiaries--Equity Method (Partial or Complete)(p. 136)
• Elimination of Intercompany Revenue and Expense Items(p. 146)
• Interim Acquisitions of Subsidiary Stock(p. 147)
• Consolidated Statement of Cash Flows(p. 158)
• Summary(p. 166)
• Appendix A Alternative Workpaper Format(p. 167)
• Appendix B Deferred Tax Consequences When Affiliates File Separate Income Tax Returns--Undistributed Income(p. 169)
• Consolidated Tax Returns--Affiliated Companies (80% or More Ownership Levels)(p. 169)
• Separate Tax Returns--Deferred Tax Consequences Arising Because of Undistributed Subsidiary Income(p. 170)
• The Cost Method--Separate Tax Returns(p. 170)
• Undistributed Income Is Expected to Be Realized When the Subsidiary Is Sold(p. 172)
• The Partial and Complete Equity Methods--Separate Tax Returns(p. 173)
• Questions(p. 174)
• Exercises(p. 175)
• Problems(p. 182)
• 5 Allocation and Depreciation of Differences Between Cost and Book Values(p. 195)
• Learning Objectives(p. 195)
• Allocation of Difference Between Cost and Book Value to Assets and Liabilities of Subsidiary: Acquisition Date(p. 197)
• Effect of Allocation and Depreciation of Differences between Cost and Book Values on Consolidated Net Income: Subsequent to Acquisition(p. 204)
• Consolidated Statements Workpaper--Investment Recorded Using the Cost Method(p. 208)
• Cost Method Analysis of Controlling and Noncontrolling Interests in Combined Income and Retained Earnings(p. 216)
• Consolidated Statements Workpaper--Investment Recorded Using Partial Equity Method(p. 217)
• Partial Equity Method Analysis of Controlling and Noncontrolling Interests in Combined Net Income and Retained Earnings(p. 224)
• Consolidated Statements Workpaper--Investment Recorded Using Complete Equity Method(p. 225)
• Complete Equity Method Analysis of Controlling Interest in Combined Net Income and Retained Earnings(p. 232)
• Additional Considerations Relating to Treatment of Difference Between Cost and Book Value(p. 233)
• Push Down Accounting(p. 242)
• Summary(p. 247)
• Questions(p. 248)
• Exercises(p. 249)
• Problems(p. 255)
• 6 Elimination of Unrealized Profit on Intercompany Sales of Inventory(p. 273)
• Learning Objectives(p. 273)
• Effects of Intercompany Sales of Merchandise on the Determination of Consolidated Balances(p. 274)
• Cost Method: Consolidated Statements Workpaper--Upstream Sales(p. 285)
• Cost Method--Analysis of Consolidated Net Income and Consolidated Retained Earnings(p. 291)
• Consolidated Statements Workpaper--Partial Equity Method(p. 293)
• Partial Equity Method--Analysis of Consolidated net Income and Consolidated Retained Earnings(p. 298)
• Consolidated Statements Workpaper--Complete Equity Method(p. 299)
• Complete Equity Method--Analysis of Consolidated Net Income and Consolidated Retained Earnings(p. 304)
• Summary of Workpaper Entries Relating to Intercompany Sales of Inventory(p. 304)
• Intercompany Profit Prior to Parent-Subsidiary Affiliation(p. 305)
• Summary(p. 306)
• Appendix Deferred Taxes and Intercompany Sales of Inventory(p. 307)
• Questions(p. 313)
• Exercises(p. 314)
• Problems(p. 317)
• 7 Elimination of Unrealized Gains or Losses on Intercompany Sales of Property and Equipment(p. 331)
• Learning Objectives(p. 331)
• Intercompany Sales of Land (Nondepreciable Property)(p. 332)
• Intercompany Sales of Depreciable Property (Machinery, Equipment, and Buildings)(p. 335)
• Consolidated Statements Workpaper--Cost and Partial Equity Methods(p. 343)
• Calculation of Consolidated Net Income and Consolidated Retained Earnings(p. 352)
• Consolidated Statements Workpaper--Complete Equity Method(p. 355)
• Calculation of Consolidated Net Income and Consolidated Retained Earnings: Complete Equity Method(p. 362)
• Summary of Workpaper Entries Relating to Intercompany Sales of Equipment(p. 362)
• Intercompany Interest, Rents, and Service Fees(p. 362)
• Summary(p. 365)
• Appendix Deferred Tax Consequences Related to Intercompany Sales of Equipment(p. 367)
• Questions(p. 372)
• Exercises(p. 372)
• Problems(p. 375)
• 8 Changes in Ownership Interest(p. 387)
• Learning Objectives(p. 387)
• Parent Acquires Subsidiary Stock through Several Open-Market Purchases--Cost Method(p. 389)
• Parent Sells Subsidiary Stock Investment on the Open Market--Cost Method(p. 391)
• Equity Method--Purchases and Sales of Subsidiary Stock by the Parent(p. 396)
• Subsidiary Issues Stock or Engages in Treasury Stock Transactions(p. 400)
• Subsidiary Treasury Stock Transactions After Acquisition(p. 407)
• Summary(p. 411)
• Questions(p. 412)
• Exercises(p. 412)
• Problems(p. 416)
• 9 Intercompany bond Holdings and Miscellaneous Topics--Consolidated Financial Statements(p. 423)
• Learning Objectives(p. 423)
• Intercompany Bond Holdings(p. 424)
• Accounting for Bonds--A Review(p. 425)
• Constructive Gain or Loss on Intercompany Bond Holdings(p. 426)
• Accounting for Intercompany Bonds Illustrated(p. 429)
• Book Entry Related to Bond Investment(p. 430)
• Interim Purchase of Intercompany Bonds(p. 446)
• Notes Receivable Discounted(p. 447)
• Stock Dividends Issued by a Subsidiary Company(p. 449)
• Dividends from Preacquisition Earnings(p. 453)
• Subsidiary with Both Preferred and Common Stock Outstanding(p. 454)
• Consolidating a Subsidiary with Preferred Stock Outstanding(p. 456)
• Summary(p. 467)
• Questions(p. 468)
• Exercises(p. 469)
• Problems(p. 473)
• 10 Insolvency--Liquidation and Reorganization(p. 483)
• Learning Objectives(p. 483)
• Contractual Agreements(p. 484)
• Bankruptcy(p. 485)
• Liquidation (Chapter 7)(p. 488)
• Reorganization Under the Reform Act (Chapter 11)(p. 489)
• Trustee Accounting and Reporting(p. 500)
• Realization and Liquidation Account(p. 503)
• Summary(p. 506)
• Questions(p. 507)
• Exercises(p. 507)
• Problems(p. 512)
• II Accounting in the International Marketplace
• 11 International Accounting and the Global Economy(p. 519)
• Learning Objectives(p. 519)
• Increasing Interest in International Accounting Standards(p. 519)
• Harmonization of Worldwide Accounting Standards(p. 524)
• Comparative Accounting Models(p. 527)
• International Accounting Models(p. 535)
• International Reporting Issues(p. 537)
• SEC Registration and U.S. Listing for Non-U.S. Companies(p. 541)
• American Depository Receipts (ADRs): An Overview(p. 544)
• Summary(p. 547)
• Appendix Reconciliation to U.S. GAAP--GlaxoSmithKline 2000(p. 548)
• Questions(p. 556)
• Exercises(p. 556)
• Problems(p. 557)
• 12 Accounting for Foreign Currency Transactions and Hedging Foreign Exchange Risk(p. 563)
• Learning Objectives(p. 563)
• Exchange Rates--Means of Translation(p. 565)
• Measured versus Denominated(p. 568)
• Foreign Currency Transactions(p. 568)
• Using Forward Contracts as a Hedge(p. 579)
• Summary(p. 596)
• Questions(p. 597)
• Exercises(p. 598)
• Problems(p. 605)
• 13 Translation of Financial Statements of Foreign Affiliates(p. 613)
• Learning Objectives(p. 613)
• Accounting for Operations in Foreign Countries(p. 614)
• Translating Financial Statements of Foreign Affiliates(p. 615)
• Objectives of Translation--SFAS No. 52(p. 616)
• Translation Methods(p. 617)
• Identifying the Functional Currency(p. 619)
• Translation of Foreign Currency Financial Statements(p. 620)
• Translation of Foreign Financial Statements Illustrated(p. 624)
• Financial Statement Disclosure(p. 633)
• Historical Developments of Accounting Standards(p. 634)
• Summary(p. 636)
• Appendix Accounting for a Foreign Affiliate and Preparation of Consolidated Statements Workpaper Illustrated(p. 637)
• Questions(p. 643)
• Exercises(p. 644)
• Problems(p. 650)
• 14 Reporting for Segments and for Interim Financial Periods(p. 659)
• Learning Objectives(p. 659)
• Need for Disaggregated Financial Data(p. 660)
• Standards of Financial Accounting and Reporting(p. 660)
• International Accounting Standards Committee (IASC) Position on Segment Reporting(p. 671)
• Interim Financial Reporting(p. 673)
• Summary(p. 681)
• Questions(p. 682)
• Exercises(p. 683)
• Problems(p. 687)
• III Partnership Accounting
• 15 Partnerships: Formation, Operation, and Ownership Changes(p. 691)
• Learning Objectives(p. 691)
• Partnership Defined(p. 694)
• Reasons for Forming a Partnership(p. 694)
• Characteristics of a Partnership(p. 695)
• Partnership Agreement(p. 698)
• Accounting for a Partnership(p. 700)
• Special Problems in Allocation of Income and Loss(p. 708)
• Financial Statement Presentation(p. 710)
• Changes in the Ownership of the Partnership(p. 711)
• Valuation--A Central Issue(p. 711)
• Methods of Recording Changes in the Membership of the Partnership(p. 712)
• Section A Admission of a New Partner(p. 713)
• Section B Withdrawal of a Partner(p. 720)
• Summary(p. 724)
• Questions(p. 726)
• Exercises(p. 726)
• Problems(p. 732)
• 16 Partnership Liquidation(p. 740)
• Learning Objectives(p. 740)
• Steps in the Liquidation Process(p. 741)
• Priorities of Partnership and Personal Creditors(p. 743)
• Simple Liquidation Illustrated(p. 745)
• Installment Liquidation(p. 747)
• Incorporation of a Partnership(p. 756)
• Summary(p. 758)
• Questions(p. 759)
• Exercises(p. 759)
• Problems(p. 764)
• IV Fund and Nonprofit Accounting
• 17 Introduction to Fund Accounting(p. 771)
• Learning Objectives(p. 771)
• Classifications of Nonbusiness Organizations(p. 773)
• Distinctions between Nonbusiness Organizations and Profit-Oriented Enterprises(p. 773)
• Financial Accounting and Reporting Standards for Nonbusiness Organizations(p. 774)
• Fund Accounting(p. 776)
• Reporting Inventory and Prepayments in the Financial Statements(p. 799)
• Summary(p. 802)
• Questions(p. 803)
• Exercises(p. 803)
• Problems(p. 807)
• 18 Introduction to Accounting For State and Local Governmental Units(p. 815)
• Learning Objectives(p. 815)
• The History of Generally Accepted Governmental Accounting Standards(p. 818)
• The Structure of Governmental Accounting(p. 819)
• Governmental Fund Entities(p. 822)
• Proprietary Funds(p. 840)
• Fiduciary Funds(p. 843)
• Account Group Entities(p. 844)
• New External Reporting Requirements (GASB Statement No. 34)(p. 850)
• Government Fund-Based Reporting(p. 851)
• Government-Wide Reporting(p. 854)
• Management's Discussion and Analysis (MD&A)(p. 859)
• Special Assessments(p. 860)
• Interfund Activity(p. 864)
• Reporting on Service Efforts and Accomplishments(p. 867)
• Summary(p. 868)
• Questions(p. 870)
• Exercises(p. 871)
• Problems(p. 879)
• 19 Accounting for Nongovernment Nonbusiness Organizations: Colleges and Universities, Hospitals and Other Health Care Organizations(p. 891)
• Learning Objectives(p. 891)
• Sources of Generally Accepted Accounting Standards for Nongovernment Nonbusiness Organizations(p. 892)
• Fund Accounting(p. 896)
• Accrual Basis of Accounting(p. 896)
• Classification of Revenue and Expense(p. 897)
• Accounting for Current Funds(p. 897)
• Contributions(p. 902)
• Accounting for Plant Funds(p. 905)
• Accounting for Endownment Funds(p. 910)
• Accounting for Investments(p. 912)
• Accounting for Loan Funds(p. 913)
• Accounting for Agency (Custodial) Funds(p. 913)
• Accounting for Annuity and Life Income Funds(p. 914)
• Issues Relating to Colleges and Universities(p. 915)
• Issues Relating to Hospitals(p. 915)
• Summary(p. 916)
• Appendix Sample Financial Statements for Private Educational Institutions(p. 918)
• Questions(p. 921)
• Exercises(p. 922)
• Problems(p. 929)
• Glossary(p. 938)
• Appendix Tables of Amounts and Present Values(p. 947)
• Index(p. 953)

Notas de autor provistas por Syndetics

Debra Jeter is an Associate Professor of Management in the Owen Graduate School of Management at Vanderbilt University. she received her Ph.D. in accounting from Vanderbilt University. Dr. Jeter has published articles in the Accounting Review, the Journal of Accounting and Economics, Contemporary Accounting Research, and Accounting Horizons, as well as in popular magazines including Working Woman and Savvy. She has co-authored one previous book, "Managerial Cost Accounting: Planning and Control," and has written chapters in others. She has taught at both the graduate and undergraduate levels, and is currently teaching financial accounting and accounting for mergers and acquisitions to MBA students.

Dr. Jeter has also taught financial accounting in the Executive International MBA program for the Vlerick School of Management in Ghent, and accounting for mergers and acquisitions in the Bank Administrations Institute Conference at Vanderbilt. Debra Jeter has served on the editorial boards of the Accounting Review and Accounting Enquiries . She won a Dean's Award for Teaching Excellence in 1998 and the Webb teaching Award in 2002. Her research interest extend to financial accounting and auditing, including earnings management, components of earnings, audit opinions, and the market for audit services. She practiced as a CPA in Columbus, Ohio before entering academia in 1981.

Paul Chaney is an Associate Professor of management in the Owen Graduate School of Management at Vanderbilt University. He has been at the Owen Graduate School since obtaining his Ph.D. from Indiana university in 1983. He has taught both undergraduate and graduate students, and currently teaches the core MBA accounting class and an elective financial accounting class. he has also taught extensively in executive programs, including courses in Accounting and Finance for the Non-Financial Executive and a Management Program for Physicians and Senior health Care Administrators.

Dr. Chaney has published articles in the Accounting Review, the journal of Accounting research, the Journal of Public Economics, the Journal of Business, Contemporary Accounting Research, the Journal of Accounting and Economics, and Accounting Horizons. He has won three teaching awards and has worked as a senior financial analyst for North American Van Lines before obtaining his doctorate.