Test Bank for Managerial Accounting: Tools for Business Decision Making (7th Edition)

  • ISBN-10:  1118334337 / ISBN-13:  9781118334331
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    • Edition: 7th Edition
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    • Resource Type : Solution Manual
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    Table of Contents

    1 Introduction to Financial Statements 1-1
    Knowing the Numbers: Columbia Sportswear Company 1-1
    Business Organization and Accounting Information Uses 1-2
    The Three Types of Business Activity 1-7
    The Four Financial Statements 1-9
    A Look at IFRS 1-42
    2 A Further Look at Financial Statements 2-1
    Just Fooling Around?: The Motley Fool 2-2
    The Classified Balance Sheet 2-3
    Analyzing the Financial Statements Using Ratios 2-8
    Financial Reporting Concepts 2-15
    A Look at IFRS 2-45
    3 The Accounting Information System 3-1
    Accidents Happen: MF Global Holdings Ltd 3-1
    Using the Accounting Equation to Analyze Transactions 3-3
    Accounts, Debits, and Credits 3-11
    Using a Journal 3-17
    The Ledger and Posting 3-20
    The Trial Balance 3-30
    A Look at IFRS 3-61
    4 Accrual Accounting Concepts 4-1
    Keeping Track of Groupons: Groupon 4-1
    Accrual-Basis Accounting and Adjusting Entries 4-2
    Adjusting Entries for Deferrals 4-7
    Adjusting Entries for Accruals 4-14
    The Adjusted Trial Balance and Closing Entries 4-21
    Appendix 4A: Using a Worksheet 4-33
    A Look at IFRS 4-65
    5 Merchandising Operations and the Multiple-Step Income Statement 5-1
    Buy Now, Vote Later: REI 5-1
    Merchandising Operations and Inventory Systems 5-3
    Recording Purchases under a Perpetual System 5-6
    Recording Sales under a Perpetual System 5-11
    Multiple-Step and Comprehensive Income Statements 5-15
    Cost of Goods Sold Under a Periodic System 5-21
    Gross Profit Rate and Profit Margin 5-22
    Appendix 5A: Periodic Inventory System 5-26
    Appendix 5B: Adjusting Entries for Credit Sales with Returns and Allowances 5-29
    A Look at IFRS 5-54
    6 Reporting and Analyzing Inventory 6-1
    “Where Is That Spare Bulldozer Blade?”: Caterpillar 6-1
    Classifying and Determining Inventory 6-2
    Inventory Methods and Financial Effects 6-6
    Inventory Presentation and Analysis 6-15
    Appendix 6A: Inventory Cost Flow Methods in Perpetual Inventory Systems 6-21
    Appendix 6B: Effects of Inventory Errors 6-23
    7 Fraud, Internal Control, and Cash 7-1
    Minding the Money in Madison: Barriques 7-1
    Fraud and Internal Control 7-3
    Cash Controls 7-12
    Control Features of a Bank Account 7-17
    Reporting Cash and Cash Management 7-24
    Appendix 7A: Operation of a Petty Cash Fund 7-30
    A Look at IFRS 7-56
    8 Reporting and Analyzing Receivables 8-1
    What’s cooking? Nike 8-1
    Recognition of Accounts Receivable 8-3
    Valuation and Disposition of Accounts Receivable 8-5
    Notes Receivable 8-14
    Receivables Presentation and Management 8-18
    A Look at IFRS 8-47
    9 Reporting and Analyzing Long-Lived Assets 9-1
    A Tale of Two Airlines: American Airlines 9-1
    Plant Asset Expenditures 9-3
    Depreciation Methods 9-9
    Plant Asset Disposals 9-15
    Intangible Assets 9-18
    Statement Presentation and Analysis 9-21
    Appendix 9A: Other Depreciation Methods 9-27
    A Look at IFRS 9-54
    10 Reporting and Analyzing Liabilities 10-1
    And Then There Were Two: Maxwell Car Company 10-1
    Accounting for Current Liabilities 10-3
    Major Characteristics of Bonds 10-8
    Accounting for Bond Transactions 10-12
    Presentation and Analysis 10-18
    Appendix 10A: Straight-Line Amortization 10-24
    Appendix 10B: Effective-Interest Amortization 10-27
    Appendix 10C: Accounting for Long-Term Notes Payable 10-30
    A Look at IFRS 10-58
    11 Reporting and Analyzing Stockholders’ Equity 11-1
    Oh Well, I Guess I’ll Get Rich: Facebook 11-1
    Corporate Form of Organization 11-3
    Accounting for Common, Preferred, and Treasury Stock 11-11
    Cash Dividends, Stock Dividends, and Stock Splits 11-15
    Presentation and Analysis 11-22
    Appendix 11A: Entries for Stock Dividends 11-30
    A Look at IFRS 11-54
    12 Statement of Cash Flows 12-1
    Got Cash?: Microsoft 12-1
    Usefulness and Format of the Statement of Cash Flows 12-3
    Preparing the Statement of Cash Flows—Indirect Method 12-6
    Analyzing the Statement of Cash Flows 12-17
    Appendix 12A: Statement of Cash Flows—Direct Method 12-22
    Appendix 12B: Worksheet for the Indirect Method 12-29
    Appendix 12C: Statement of Cash Flows—T-Account Approach 12-34
    A Look at IFRS 12-61
    13 Financial Analysis: The Big Picture 13-1
    It Pays to Be Patient: Warren Buffett 13-2
    Sustainable Income and Quality of Earnings 13-3
    Horizontal Analysis and Vertical Analysis 13-9
    Ratio Analysis 13-14
    A Look at IFRS 13-54
    14 Managerial Accounting 14-1
    Just Add Water … and Paddle: Current Designs 14-1
    Managerial Accounting Basics 14-3
    Managerial Cost Concepts 14-7
    Manufacturing Costs in Financial Statements 14-10
    Managerial Accounting Today 14-14
    15 Job Order Costing 15-1
    Profiting from the Silver Screen: Disney 15-1
    Cost Accounting Systems 15-3
    Assigning Manufacturing Costs 15-7
    Predetermined Overhead Rates 15-12
    Entries for Jobs Completed and Sold 15-15
    Applied Manufacturing Overhead 15-20
    16 Process Costing 16-1
    The Little Guy Who Could: Jones Soda 16-1
    Overview of Process Cost Systems 16-3
    Process Cost Flow and Assigning Costs 16-6
    Equivalent Units 16-9
    The Production Cost Report 16-12
    Appendix 16A: FIFO Method for Equivalent Units 16-19
    17 Activity-Based Costing 17-1
    Precor Is on Your SiÞ: Precor 17-1
    Traditional vs. Activity-Based Costing 17-3
    ABC and Manufacturers 17-7
    ABC Benefits and Limitations 17-12
    ABC and Service Industries 17-17
    Appendix 17A: Just-in-Time Processing 17-22
    18 Cost-Volume-Profit 18-1
    Don’t Worry—Just Get Big: 18-1
    Cost Behavior Analysis 18-2
    Mixed Costs Analysis 18-7
    Cost-Volume-Profit Analysis 18-10
    Break-Even Analysis 18-14
    Target Net Income and Margin of Safety 18-18
    Appendix 18A: Regression Analysis 18-22
    19 Cost-Volume-Profit Analysis: Additional Issues 19-1
    Not Even a Flood Could Stop It: Whole Foods Market 19-1
    Basic CVP Concepts 19-3
    Sales Mix and Break-Even Sales 19-8
    Sales Mix with Limited Resources 19-12
    Operating Leverage and Profitability 19-14
    Appendix 19A: Absorption Costing vs. Variable Costing 19-19
    20 Incremental Analysis 20-1
    Keeping It Clean: Method Products 20-1
    Decision-Making and Incremental Analysis 20-3
    Special Orders 20-6
    Make or Buy 20-8
    Sell or Process Further 20-10
    Repair, Retain, or Replace Equipment 20-14
    Eliminate Unprofitable Segment or Product 20-15
    21 Pricing 21-1
    They’ve Got Your Size—and Color: 21-1
    Target Costing 21-3
    Cost-Plus and Variable-Cost Pricing 21-5
    Time-and-Material Pricing 21-10
    Transfer Prices 21-13
    Appendix 21A: Absorption-Cost and Variable-Cost Pricing 21-21
    Appendix 21B: Transfers between Divisions in Different Countries 21-24
    22 Budgetary Planning 22-1
    What’s in Your Cupcake?: Baby Cakes NYC 22-1
    Effective Budgeting and the Master Budget 22-3
    Sales, Production, and Direct Materials Budgets 22-8
    Direct Labor, Manufacturing Overhead, and S&A Expense Budgets 22-13
    Cash Budget and Budgeted Balance Sheet 22-17
    Budgeting in Nonmanufacturing Companies 22-22
    23 Budgetary Control and Responsibility Accounting 23-1
    Pumpkin Madeleines and a Movie: Tribeca Grand 23-1
    Budgetary Control and Static Budget Reports 23-3
    Flexible Budget Reports 23-6
    Responsibility Accounting and Responsibility Centers 23-13
    Investment Centers 23-22
    Appendix 23A: ROI vs. Residual Income 23-28
    24 Standard Costs and Balanced Scorecard 24-1
    80,000 Different Caffeinated Combinations: Starbucks 24-2
    Overview of Standard Costs 24-3
    Direct Materials Variances 24-7
    Direct Labor and Manufacturing Overhead Variances 24-11
    Variance Reports and Balanced Scorecards 24-16
    Appendix 24A: Standard Cost Accounting System 24-21
    Appendix 24B: Overhead Controllable and Volume Variances 24-24
    25 Planning for Capital Investments 25-1
    Floating Hotels: Holland America Line 25-2
    Capital Budgeting and Cash Payback 25-3
    Net Present Value Method 25-6
    Capital Budgeting Challenges and Refinements 25-11
    Internal Rate of Return 25-16
    Annual Rate of Return 25-18
    APPENDIX A Specimen Financial Statements: Apple Inc. A-1
    APPENDIX B Specimen Financial Statements: Columbia Sportswear Company B-1
    APPENDIX C Specimen Financial Statements: VF Corporation C-1
    APPENDIX D Specimen Financial Statements:, Inc. D-1
    APPENDIX E Specimen Financial Statements: Wal-Mart Stores, Inc. E-1
    APPENDIX F Specimen Financial Statements: Louis Vuitton F-1
    APPENDIX G Time Value of Money G-1
    Interest and Future Values G-1
    Nature of Interest G-1
    Future Value of a Single Amount G-3
    Future Value of an Annuity G-5
    Present Values G-7
    Present Value Variables G-7
    Present Value of a Single Amount G-7
    Present Value of an Annuity G-9
    Time Periods and Discounting G-11
    Present Value of a Long-Term Note or Bond G-11
    Capital Budgeting Situations G-14
    Using Financial Calculators G-15
    Present Value of a Single Sum G-16
    Present Value of an Annuity G-17
    Future Value of a Single Sum G-17
    Future Value of an Annuity G-17
    Internal Rate of Return G-18
    Useful Applications of the Financial Calculator G-18
    APPENDIX H Reporting and Analyzing Investments H-1
    Accounting for Debt Investments H-1
    Why Corporations Invest H-1
    Accounting for Debt Investments H-3
    Accounting for Stock Investments H-4
    Holdings of Less Than 20% H-4
    Holdings Between 20% and 50% H-5
    Holdings of More Than 50% H-6
    Reporting Investments in Financial Statements H-7
    Debt Securities H-7
    Equity Securities H-10
    Balance Sheet Presentation H-11
    Presentation of Realized and Unrealized Gain or Loss H-12
    APPENDIX I Payroll Accounting I-1
    Recording the Payroll I-1
    Determining the Payroll I-2
    Recording the Payroll I-5
    Employer Payroll Taxes I-8
    FICA Taxes I-8
    Federal Unemployment Taxes I-8
    State Unemployment Taxes I-8
    Recording Employer Payroll Taxes I-9
    Filing and Remitting Payroll Taxes I-9
    Internal Control for Payroll I-10
    APPENDIX J Subsidiary Ledgers and Special Journals J-1
    Subsidiary Ledgers J-1
    Subsidiary Ledger Example J-2
    Advantages of Subsidiary Ledgers J-3
    Special Journals J-4
    Sales Journal J-4
    Cash Receipts Journal J-7
    Purchases Journal J-11
    Cash Payments Journal J-13
    Effects of Special Journals on the General Journal J-16
    Cybersecurity: A Final Comment J-17
    APPENDIX K Accounting for Partnerships K-1
    Forming a Partnership K-1
    Characteristics of Partnerships K-1
    Organizations with Partnerships Characteristics K-2
    Advantages and Disadvantages of Partnerships K-3
    The Partnership Agreement K-4
    Accounting for a Partnership Formation K-5
    Accounting for Partnership Net Income or Net Loss K-6
    Dividing Net Income or Net Loss K-6
    Partnership Financial Statements K-9
    Accounting for Partnership Liquidation K-10
    No Capital Deficiency K-11
    Capital Deficiency K-12
    Admission and Withdrawal of Partners K-14
    Admission of a Partner K-14
    Withdrawal of a Partner K-18
    APPENDIX L Accounting for Sole Proprietorships L-1
    Corporation versus Sole Proprietorship Equity Accounts L-1
    Accounts that Change Owner’s Equity L-2
    Owner’s Equity in a Sole Proprietorship L-2
    Recording Transactions of a Proprietorship L-3
    Retained Earnings Statement versus Owner’s Equity Statement L-3
    Closing the Books for a Sole Proprietorship L-4
    Preparing a Post-Closing Trail Balance for a Proprietorship L-7
    Company Index I-1
    Subject Index I-3


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