Financial Accounting

Abstract

Financial Accounting is adapted from a work produced by a publisher who has requested that they and the original author not receive attribution. This adapted edition is produced by the University of Minnesota Libraries Publishing through the eLearning Support Initiative. This book is intended for an undergraduate or MBA level Financial Accounting course. It covers the standard topics in a standard sequence, utilizing the Socratic method of asking and answering questions. Chapter 1: Why Is Financial Accounting Important? Chapter 2: What Should Decision Makers Know So That Good Decisions Can Be Made about an Organization? Chapter 3: In What Form Is Financial Information Actually Delivered to Decision Makers Such as Investors and Creditors? Chapter 4: How Does an Organization Accumulate and Organize the Information Necessary to Prepare Financial Statements? Chapter 5: Why Must Financial Information Be Adjusted Prior to the Production of Financial Statements? Chapter 6: Why Should Decision Makers Trust Financial tatements? Chapter 7: In a Set of Financial Statements, What Information Is Conveyed about Receivables? Chapter 8: How Does a Company Gather Information about Its Inventory? Chapter 9: Why Does a Company Need a Cost Flow Assumption in Reporting Inventory? Chapter 10: In a Set of Financial Statements, What Information Is Conveyed about Property and Equipment? Chapter 11: In a Set of Financial Statements, What Information Is Conveyed about Intangible Assets? Chapter 12: In a Set of Financial Statements, What Information Is Conveyed about Equity Investments? Chapter 13: In a Set of Financial Statements, What Information Is Conveyed about Current and Contingent Liabilities? Chapter 14: In a Set of Financial Statements, What Information Is Conveyed about Noncurrent Liabilities Such as Bonds? Chapter 15: In a Set of Financial Statements, What Information Is Conveyed about Other Noncurrent Liabilities? Chapter 16: In a Set of Financial Statements, What Information Is Conveyed about Shareholders’ Equity? Chapter 17: In a Set of Financial Statements, What Information Is Conveyed by the Statement of Cash Flows?