This book is the fourth of seven books which introduces the basic principles of accounting. This book introduces accounting for current liabilities, such as, notes payable, contingent liabilities, and employer responsibilities related to payroll. Long-term obligations are introduced relating to long-term notes, present and future values, annuities, and bonds. Contractual commitments and capital leases are also discussed. Accounting for corporate equity, common and preferred stock, cash and stock dividends, stock splits, treasury stock, and the statement of stockholders’ equity are also presented.
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- Part. 1 Current Liabilities and Employer Obligations
- Current Liabilities
- The Operating Cycle
- Illustrations of Typical Current Obligations
- Notes Playable
- A Few Words About Interest Calculations that May Save You Some Money
- Contingent Liabilities
- Accounting for Contingent Liabilities
- Timing of Events
- Warranty Costs
- Payroll
- Gross Earnings
- Net Earnings
- The Journal Entry for Payroll
- Employer Payroll Taxes and Contributions
- Annual Reports
- Accurate Payroll Systems
- Other Components of Employee Compensation
- Pension Plans
- Other Post Retirement Benefits
- Part. 2 Long-Term Obligations
- Long-Term Notes
- How do I Compute the Payment on a Note?
- Future Value
- Present Value
- Annuities
- Returning to the Original Question
- A Few Final Comments on Future and Present Value
- Bond Payable
- Accounting for Bonds Payable
- Bond Issued at Par
- Bond Issued at Premium
- Bond Issued at a Discount
- Affective-Interest Amortization Methods
- The Premium Illustration
- The Discount Illustration
- Bonds Issued Between Interest Dates and Bond Retirement
- Year-end Interest Accruals
- Bonds may be Retired Before Scheduled Maturity
- Analysis, Commitments, Alternative Financing Arrangements, Leases, and Fair Value Measurements
- Contractual Commitments and Alternative Financing Arrangements
- Capital Leases
- The Fair Value Measurement Option
- Part. 3 Corporate Equity Accounting
- The Corporate Form of Organization
- Common and Preferred Stock
- Typical Common Stock Features
- Possible Preferred Stock Features
- What is Par?
- A Closer Look at Cash Dividends
- The Presence of Preferred Stock
- Treasury Stock
- Stock Splits and Stock Dividends
- Stock Dividends
- Statement of Stockholders’ Equity
- Appendix
The book content is made very simple, easy to comprehend, user friendly, in other words the subjects are made simpler to understand by students.
Downloaded this book and recommended this to my classmates also. We are taking Management Accounting and this book has been of big help to us.
