Introduction+to+Management+Accounting+16th+Edition+现货+ 答案文档格式.docx

Introduction+to+Management+Accounting+16th+Edition+现货+ 答案文档格式.docx

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4.Makeadjustmentstotheaccountsunderaccrualaccounting.

5.Explainthenatureofdividendsandretainedearnings.

6.Selectrelevantitemsfromasetofdataandassemblethemintoabalancesheet,andanincomestatement.

7.Distinguishbetweenthereportingofcorporateowners’equityandthereportingofowners’equityforpartnershipsandsoleproprietorships.

8.Explaintheroleofauditorsinfinancialreportingandhowaccountingstandardsareset.

9.Identifyhowthemeasurementprinciplesofrecognition,matchingandcostrecovery,andstablemonetaryunitaffectfinancialreporting.

10.Definecontinuity,relevance,faithfulrepresentation,materiality,conservatism,andcost-benefit（Appendix15A）.

11.UseT-accounts,debits,andcreditstorecordtransactions（Appendix15B）.

CHAPTER15:

ASSIGNMENTS

CRITICALTHINKINGEXERCISES

24.AccountingValuationofFixedAssets

25.Marketing,theIncomeStatement,andtheBalanceSheet

26.RevenueRecognitionandEvaluationofSalesStaff

27.RelationshipBetweentheBalanceSheetandtheIncomeStatement

28.ConceptsofRelevanceandFaithfulRepresentation

GENERALEXERCISESandPROBLEMS

29.TrueorFalse

30.SimpleBalanceSheet

31.NatureofRetainedEarnings

32.IncomeStatement

33.IncomeStatement,BalanceSheet,andDividends

34.CustomerandAirline

35.TenantandLandlord

36.Adjustments

37.FindUnknowns

38.BalanceSheetEquation:

SolvingforUnknowns

39.FundamentalTransactionAnalysisandPreparationofStatements

40.MeasurementofIncomeforTaxandOtherPurposes

41.DebitsandCredits

42.TrueorFalse

43.UseofT-Accounts

44.UseofT-Accounts

45.UseofT-Accounts

UNDERSTANDINGPUBLISHEDFINANCIALREPORTS

46.BalanceSheetEffects

47.PreparationofBalanceSheetforCostco

48.NetIncomeandRetainedEarnings

49.EarningsStatement,RetainedEarnings

50.SoleProprietorshipandCorporation

51.Nike10-KProblem:

InterpretingtheIncomeStatementandBalanceSheet

EXCELAPPLICATIONEXERCISE

52.MonthlyTransactionsUsingtheBalanceSheetEquation

COLLABORATIVELEARNINGEXERCISE

53.ImplicitTransactions

INTERNETEXERCISE

54.McDonald’sFinancialStatements

（）

OUTLINE

I.TheNeedforAccounting

Accountingisthelanguageofbusiness.Managers,investors,andotherinterestedgroupsusuallywanttheanswerstotwoimportantquestionsaboutanorganization:

Howwelldidtheorganizationperformforagivenperiod?

Wheredoestheorganizationstandatagivenpoint?

Accountantsanswerthesetwoquestionswithtwomajorfinancialstatements:

anincomestatementandabalancesheet.Toobtainthesestatements,accountantsrecordanorganization’stransactions.Transaction—anyeventthataffectsthefinancialpositionofanorganizationandrequiresrecording.Throughtheyears,manyconcepts,conventions,andruleshavebeendevelopedregardingwhateventsaretoberecordedasaccountingtransactionsandhowtheirfinancialimpactismeasured.

II.FinancialStatements:

BalanceSheetandIncomeStatement{L.O.1}

Financialstatementsaresummarizedreportsofaccountingtransactions.Theycanapplytoanypointintimeandtoanyspanoftime.

BalanceSheet（moreaccuratelycalledStatementofFinancialPositionorStatementofFinancialCondition）—asnapshotoffinancialstatusataninstantoftime.Thebalancesheetequationis

assets=equities

Theequitiessideofthisequationisoftendividedintotwoparts:

assets=liabilities+owners’equity

Liabilities—theentity’seconomicobligationstononowners.Owners’Equity—theexcessoftheassetsovertheliabilities.ForCorporations（i.e.,abusinessorganizedasaseparatelegalentityandownedbyitsstockholders）,owners’equityiscalledStockholders’Equity.Stockholders’equityisaresultofPaid-inCapital（i.e.,theownershipclaimarisingfromfundspaid-inbytheowners）plusRetainedEarningsorRetainedIncome（theownershipclaimarisingfromtheinvestmentofpreviousprofits）.Thebalancesheetequationforcorporationsbecomes:

assets=liabilities+stockholders’equity

=liabilities+（paid-incapital+retainedearnings）

{L.O.2}SeeEXHIBIT15-1andEXHIBIT15-2forillustrationsoftheeffectsoftransactionsonthebalancesheetequation.AccountsReceivable—amountsduefromcustomersonopenaccount.AccountsPayable—amountsowedonopenaccounts.

RevenueandExpenses

Revenues—increasesinownershipclaimsarisingfromthedeliveryofgoodsorservices.Toberecognized（i.e.,formallyrecordedintheaccountingrecordsasrevenueduringthecurrentperiod）,revenue

（1）mustbeearnedbyfullyrenderinggoodsorservicestocustomers,and

（2）mustberealized（i.e.,thesellermustbereasonablyassuredthattheresourcespromisedinexchangeforthegoodsorserviceswillbereceived）.

Expenses—decreasesinownershipclaimsarisingfromdeliveryofgoodsorservices,orusingupassets.Profits（orEarningsofIncome）—theexcessofrevenuesoverexpenses.

Account—eachiteminafinancialstatement.Increasesinrevenuesareincreasesinstockholders’equityandincreasesinexpensesdecreasestockholders’equity.

B.RelationshipBetweenBalanceSheetandIncomeStatement

IncomeStatement—measurestheoperatingperformanceofthecorporationbymatchingitsaccomplishments（i.e.,revenuesorsales）withitsefforts（i.e.,expensessuchascostofgoodssold）.Thebalancesheetshowsthefinancialpositionataninstantoftime,buttheincomestatementmeasuresperformanceforaspanoftime,whetheritbeamonth,aquarter,orlonger.Thus,theincomestatementisthemajorlinkbetweenbalancesheets.

C.TheAnalyticalPoweroftheBalanceSheetEquation

Thebalancesheetequationcanhighlightthelinkbetweentheincomestatementandthebalancesheet.Therelationshipsbetweenincomestatementitemsandthoseforthebalancesheetcanbeseenintransformingthebalancesheetequationasshownbelow:

1.assets（A）=liabilities（L）+stockholders’equity（SE）

2.A=L+paid-incapital+retainedearnings

3.A=L+paid-incapital+revenue-expenses

Revenueandexpenseaccountsaresubdivisionsofstockholders’equity（i.e.,temporarystockholders’equityaccounts）.Foreverytransaction,thebalancesheetequationisalwayskeptinbalance.

III.AccrualBasisandCashBasis{L.O.3}

AccrualBasis—recognizestheimpactoftransactionsonthefinancialstatementsintheperiodswhenrevenuesandexpensesoccurinsteadofwhencashisreceivedordisbursed.Revenuesarerecordedastheyareearnedandexpensesrecordedastheyareincurred,notnecessarilywhencashchangeshands.

CashBasis—revenueandexpenserecognitionwoulddependsolelyonthetimingofvariouscashreceiptsanddisbursements.Themajordeficiencyofthecashbasisisthatitisincomplete.Itfailstomatcheffortswithaccomplishments（expensesandrevenues）inamannerthatproperlymeasureseconomicperformanceandfinancialposition.Itomitskeyassets（suchasaccountsreceivableandprepaidrent）andkeyliabilities（suchasaccountspayable）fromthebalancesheets.

A.NonprofitOrganizations

Balancesheetsandincomestatementsarealsousedinnonprofitorganizations.Somehavenotadoptedalltheconventionsusedbytheirprofit-seekingcounterparts.Forinstance,somegovernmentalagenciesstillusethecashbasisofaccountingratherthantheaccrualbasis.Thelackofaccrual-basedfinancialstatementshashamperedtheevaluationoftheperformanceofsuchorganizations.

IV.AdjustmentstotheAccounts

Adjustments—recordingofimplicittransactions,incontrasttotheexplicittransactionsthattriggernearlyallday-to-dayroutineentries,attheendofeachreportingperiodinordertomeasureincomeforaccrualaccounting.Theyrefinetheaccountant’saccuracyandprovideamorecompleteandsignificantmeasureofefforts,accomplishments,andfinancialposition.Thefourcategoriesoftransactions（i.e.,economiceventsthatshouldberecordedbyanaccountant）forwhichadjustmentsarenecessaryareoutlinedbelow.SourceDocuments—explicitevidenceofanytransactionsthatoccurintheentity’soperation（e.g.,salesslipsandpurchaseinvoices）.

V.AdjustmentTypeI:

ExpirationofUnexpiredCosts{L.O.4}

Assetsfrequentlyexpirebecauseofthepassageoftime.Assetsmaybeviewedasbundlesofeconomicservicesawaitingfutureuseorexpiration.Assets,otherthancashandreceivables,maybethoughtofasprepaidorstoredcoststhatarecarriedforwardtofutureperiodsratherthanimmediatelychargedagainstrevenue.Expensesareused-upassets.UnexpiredCost—anyassetthatordinarilybecomesanexpenseinfutureperiods（e.g.,inventoryandprepaidrent）.

A.TimingofAssetExpiration

Someassetsexpireimmediately（e.g.,advertisingservicesandmiscellaneoussupplies）.Whenthisisthecase,theusualaccountingforthemistoexpensetheminstantaneouslyratherthanrecordingthemfirstasassetsandthenexpensingthem.Thetimeatwhichassetsexpirecanbedebatable.Forexample,researchanddevelopmentcostsmustbewrittenoffasanexpenseundercurrentgenerallyacceptedaccountingprinciples.However,theymayhavesomefutureeconomicbenefit.

Depreciation

Long-livedassets（e.g.,equipmentandbuildings）havetheir