Financial Accounting Reporting & Analysis,9780324227321

Financial Accounting Reporting & Analysis

by ;
Edition: 7th
ISBN13: 9780324227321
ISBN10: 0324227329
Format: Paperback
Pub. Date: 2005-02-24
Publisher(s): South-Western College Pub
List Price: $247.95

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Summary

Succeed in this course and as a future business manager with FINANCIAL ACCOUNTING! Your purchase includes one-year access to Thomson ONE, Business School Edition, an online site that gives you the power to do financial analysis and research using real company data. Using actual financial statements, the authors leverage your everyday consumer experiences to link accounting terminology and practice with actual events that you already understand. Key points, margin notes, review of key points, exercises, problems, and applications and extensions are just a few of the many tools included within the text that will make studying easy.

Table of Contents

Part 1 Introduction to Financial Statements
xxiv
The Nature and Purpose of Financial Accounting
1(26)
What is Accounting and Why Does it Exist?
4(2)
Financial Statements
6(2)
Income Statement
7(1)
Statement of Cash Flows
7(1)
Who Uses Financial Accounting Information
8(1)
Lenders
8(1)
Investors
8(1)
Business Context 1-1 How to Get Your Own Copy of McDonald's Financial Statements
9(2)
Management
9(1)
Suppliers and Customers
10(1)
Employees
10(1)
Competitors
10(1)
Government Agencies
11(1)
Politicians
11(1)
The Press
11(1)
The Need for Financial Accounting Standards
11(2)
Other Important Accounting-Related Organizations
13(1)
Securities and Exchange Commission
13(1)
Corporate Governance 1-1 What is Corporate Governance?
14(3)
American Institute of Certified Public Accountants
15(1)
Public Company Accounting Oversight Board
15(1)
Internal Revenue Service
15(1)
International Accounting Standards Board
16(1)
Right Now Is an Exciting Time to Be Studying Accounting
17(1)
Review of Key Points
18(2)
Key Terms
20(1)
Questions
20(1)
Exercises
21(1)
Applications and Extensions
21(6)
Overview of the Financial Statements
27(48)
The Need for Financial Statements
29(7)
Liabilities
34(1)
Owners' Equity
35(1)
Business Context 2-1 Should I Incorporate?
36(4)
Balance Sheet Format
37(1)
The Accounting Equation
38(1)
Concepts and Conventions Related to the Balance Sheet
39(1)
Data Mining 2-1 The Accounting Equation
40(1)
Income Statement
41(3)
Expenses
42(1)
Gains and Losses
42(1)
Net Income
43(1)
Earnings Per Share
43(1)
Concepts and Conventions Related to the Income Statement
43(1)
Data Mining 2-2 Price-Earnings (PE) Ratio
44(1)
Statement of Cash Flows
45(2)
Notes to the Financial Statements
47(1)
Summary of Significant Accounting Policies
47(1)
Corporate Governance 2-1 The Importance of Transparency
48(1)
Additional Information about Summary Totals
49(1)
Disclosure of Information Not Recognized
49(1)
Supplementary Information
49(1)
The External Audit
49(2)
Other Accounting Concepts and Conventions
51(2)
Relevance and Reliability
51(1)
Comparability and Consistency
51(1)
Conservatism
51(1)
Materiality
52(1)
Articulation
52(1)
Review of Key Points
53(2)
Key Terms
55(1)
Questions
56(1)
Exercises
56(6)
Problems
62(5)
Applications and Extensions
67(8)
Introduction to Financial Statement Analysis
75(48)
The Need for Financial Statement Analysis
76(2)
Widely Used Financial Ratios
78(3)
Debt Ratio
78(1)
Current Ratio
78(1)
Return on Sales
79(1)
Asset Turnover
79(1)
Return on Equity
80(1)
Price-Earnings Ratio
80(1)
Common-Size Financial Statements
81(1)
Corporate Governance 3-1 Undervalued Companies and Entrenched Management
82(4)
DuPont Framework
86(5)
Data Mining 3-1 Margin and Turnover
91(3)
Business Context 3-1 Market Efficiency: Can Financial Statement Analysis Help You Win in the Stock Market?
94(1)
Cash Flow Ratios
95(2)
Usefulness of Cash Flow Ratios
95(1)
Cash Flow to Net Income
96(1)
Cash Flow Adequacy
96(1)
Cash Times Interest Earned
97(1)
Potential Pitfalls
97(1)
Financial Statements Don't Contain All Information
97(1)
Data Mining 3-2 Identifying LBO Targets
98(2)
Lack of Comparability
98(1)
Search for the Smoking Gun
99(1)
Anchoring, Adjustment, and Timeliness
99(1)
Review of Key Points
100(1)
Key Terms
101(1)
Questions
101(1)
Exercises
102(6)
Problems
108(8)
Applications and Extensions
116(7)
The Balance Sheet
123(54)
Individual Asset, Liability, and Equity Accounts
125(11)
Current Assets
126(3)
Long-Term Assets
129(2)
Current Liabilities
131(1)
Long-Term Liabilities
132(1)
Stockholders' Equity
133(3)
Data Mining 4-1 Paid-in Capital, Retained Earnings, and Treasury Stock
136(1)
Form of the Balance Sheet
137(1)
Format of Foreign Balance Sheets
137(1)
Recognition and Valuation
138(1)
Recognition
138(1)
Data Mining 4-2 Efficient Use of Working Capital
139(2)
Valuation
140(1)
Introduction to Transaction Analysis
141(4)
Sample Transactions for a New Company
142(1)
Analyzing the Impact of Transactions on the Balance Sheet
142(3)
Business Context 4-1 Do Accountants Record the Most Important Events?
145(1)
Asset and Financing Mix
146(3)
Corporate Governance 4-1 Strategic Direction and Mission Statement
149(1)
Review of Key Points
150(1)
Key Terms
151(1)
Questions
152(1)
Exercises
152(9)
Problems
161(6)
Applications and Extensions
167(10)
The Income Statement
177(54)
Different Measures of Income
180(4)
Gross Profit
182(1)
Operating Income
182(1)
Income from Continuing Operations
182(1)
Net Income
183(1)
Comprehensive Income
184(1)
Individual Income Statement Items
184(4)
Revenues
184(2)
Expenses
186(2)
Data Mining 5-1 Gross Profit Percentage
188(6)
Gains and Losses
189(1)
``Below-the-Line'' Items
190(2)
Comprehensive Income
192(1)
Earnings per Share
193(1)
Corporate Governance 5-1 Aligning Incentives: Management Bonuses Based on Reported Income
194(1)
Format of the Income Statement
195(1)
Revenue Recognition and Matching
195(3)
Revenue Recognition
195(2)
Expense Recognition
197(1)
Transaction Analysis
198(1)
January 1, 2006, through December 31, 2006
198(1)
Business Context 5-1 Why Doesn't the U.S. Government Use Accrual Accounting?
199(5)
Analyzing the Impact of Transactions on the Income Statement
200(4)
Forecasting The Future
204(4)
Forecast of Balance Sheet Accounts
205(2)
Forecast of Income Statement Accounts
207(1)
Review of Key Points
208(1)
Key Terms
209(1)
Questions
210(1)
Exercises
210(7)
Problems
217(5)
Applications and Extensions
222(9)
The Statement of Cash Flows
231(64)
What Is the Purpose of a Statement of Cash Flows?
233(2)
Sometimes Earnings Fail
233(1)
Everything on One Page
234(1)
Forecasting Tool
235(1)
What Information Is Reported in the Statement of Cash Flows?
235(4)
Three Categories of Cash Flows
235(3)
Non-cash Investing and Financing Activities
238(1)
Corporate Governance 6-1 Free Cash Flow and Management Perks
239(1)
Preparing a Statement of Cash Flows--A Simple Example
240(4)
Analyzing the Other Primary Financial Statements to Prepare a Statement of Cash Flows
244(8)
A Six-Step Process for Preparing a Statement of Cash Flows
245(1)
An Illustration of the Six-Step Process
246(6)
Business Context 6-1 Disagreements within the FASB
252(2)
Data Mining 6-1 Differences between Income and Cash from Operations
254(2)
Data Mining 6-2 American and British Operating Cash Flow
256(1)
Using Cash Flow Information to Forecast Future Financial Position
257(3)
Review of Key Points
260(2)
Key Terms
262(1)
Questions
262(1)
Exercises
263(6)
Problems
269(10)
Applications and Extensions
279(16)
Case 1 IBM
289(6)
Part 2 The Accounting Information System
295(80)
The Accounting Information System
296(42)
How Can We Collect All This Information?
297(1)
Transaction Analysis Using Debits and Credits
298(4)
Debits and Credits for Revenues, Expenses, and Dividends
300(2)
Business Context 7-1 Luca Pacioli
302(1)
How Do We Record the Effects of Transactions?
302(6)
Posting Journal Entries and Preparing a Trial Balance
308(3)
Posting
308(1)
Trial Balance
309(2)
Adjusting and Closing Entries
311(3)
Adjusting Entries
311(2)
Closing Entries
313(1)
Computers and Accounting
314(1)
Corporate Governance 7-1 Sarbanes-Oxley Section 404: Internal Controls
315(1)
Review of Key Points
316(2)
Key Terms
318(1)
Questions
318(1)
Exercises
319(5)
Problems
324(7)
Applications and Extensions
331(7)
Earnings Management
338(37)
Factors that Motivate Earnings Management
342(3)
Meet Internal Targets
342(1)
Meet External Expectations
343(1)
Income Smoothing
344(1)
Corporate Governance 8-1 How Far Do We Go to Meet Wall Street Expectations?
345(2)
Window Dressing for an IPO or a Loan
347(1)
Common Techniques Used to Manage Earnings
347(3)
The Earnings Management Continuum
348(1)
Pro Forma Earnings
349(1)
Business Context 8-1 Microsoft Charged With Establishing Cookie Jar Reserves
350(2)
Should a Company Manage Earnings?
352(3)
Financial Reporting as a Part of Public Relations
352(1)
Is Earnings Management Ethical?
353(2)
Personal Ethics
355(1)
Common Elements of Earnings Management Meltdown
355(5)
Downturn in Business
356(1)
Pressure to Meet Expectations
356(1)
Attempted Accounting Solution
357(1)
Auditor's Calculated Risk
357(1)
Insufficient User Skepticism
358(1)
Regulatory Investigation
358(1)
Massive Loss of Reputation
359(1)
Accounting Standards, Ethical Behavior, and Cost of Obtaining Capital
360(3)
What is the Cost of Capital?
360(1)
The Role of Accounting Standards
361(1)
The Necessity of Ethical Behavior
362(1)
Review of Key Points
363(1)
Key Terms
364(1)
Questions
364(1)
Discussion Cases
365(6)
Applications and Extensions
371(4)
Part 3 Operating Decisions
375(158)
Revenue Cycle: Sales, Reccivables, and Cash
376(49)
Revenue Recognition
379(3)
When Should Revenue Be Recognized?
380(1)
How Revenue Is Recognized
381(1)
Corporate Governance 9-1 SEC and SAB 101: Closing Loopholes
382(3)
Pressure to Recognize Revenue
383(1)
Application of the Revenue Recognition Criteria
383(2)
Business Context 9-1 ZZZZ Best
385(1)
Selling on Credit and Collecting Cash
386(3)
Granting Credit
386(1)
Particular Credit Policies
387(2)
Accounting for Credit Customers Who Don't Pay
389(5)
Percentage-of-Sales Method
390(1)
Aging Method
391(1)
Write-offs of Bad Debts
392(1)
The Allowance for Bad Debts T-Account
392(1)
Real-World Illustrations of Accounting for Bad Debts
393(1)
Accounting for Warranties
394(1)
Data Mining 9-1 Bank Credit Losses
395(1)
Cash Management: Controls and Factoring
395(2)
Control of Cash
396(1)
Cash Management
396(1)
Foreign Currencies
397(2)
Foreign Currency Transactions
397(1)
Exchange Rates
398(1)
Foreign Currency Transaction Example
398(1)
Data Mining 9-2 Valuing a Foreign Currency Portfolio
399(1)
Evaluating Credit Policy and Budgeting Cash Receipts
400(4)
Quantity of Receivables
400(2)
Quality of Receivables
402(1)
Budgeting Cash Receipts
402(2)
Review of Key Points
404(1)
Key Terms
405(1)
Questions
405(1)
Exercises
406(6)
Problems
412(6)
Applications and Extensions
418(7)
Cost of Goods Sold and Inventory
425(52)
What Is Reported as Inventory?
428(3)
What Is Inventory?
429(1)
Who Owns the Inventory?
430(1)
The Cost of Inventory
431(1)
Accounting for Inventory and Cost of Goods Sold
432(4)
Overview of Perpetual and Periodic Systems
432(1)
Perpetual and Periodic Inventory Systems---an Illustration
433(1)
Taking a Physical Count of Inventory
434(1)
The Income Effect of an Error in Ending Inventory
435(1)
Inventory Valuation Methods
436(1)
Business Context 10-1 Inventory Fraud and Instant Profits
437(5)
Inventory Valuation Example
437(1)
Specific Identification
438(1)
Average Cost Method
439(1)
First-In, First-Out Method
439(1)
Last-In, First-Out Method
440(1)
Comparison of Methods: Cost of Goods Sold and Ending Inventory
440(2)
Corporate Governance 10-1 Should Management Use Accounting Strategically?
442(1)
Complications with a Perpetual Inventory System
442(1)
More About LIFO
443(2)
LIFO Layers
443(2)
Data Mining 10-1 Magnitude of the LIFO Reserve
445(1)
LIFO Liquidation
445(1)
Business Context 10-2 As American as Mom, Apple Pie, and LIFO
446(1)
Inventory Estimation and Valuation
447(3)
Gross Profit Method
447(2)
Lower of Cost or Market
449(1)
Evaluating Inventory Levels and Budgeting Cash Disbursements
450(2)
Evaluating the Level of Inventory
450(1)
Impact of the Inventory Cost Flow Assumption
451(1)
Data Mining 10-2 Inventory Efficiency
452(3)
Number of Days' Purchases in Accounts Payable
452(1)
Budgeting Cash Outflows
453(2)
Review of Key Points
455(2)
Key Terms
457(1)
Questions
458(1)
Exercises
458(7)
Problems
465(7)
Applications and Extensions
472(5)
Expenditure Cycle: Other Operating Items
477(56)
Employee Compensation
480(9)
Payroll
481(1)
Compensated Absences
481(1)
Bonuses
482(1)
Stock Options
482(2)
Post-employment Benefits
484(1)
Pensions
484(5)
Corporate Governance 11-1 The Accounting Scapegoat: Deceiving Naive Stakeholders
489(1)
Data Mining 11-1 Overfunded and Underfunded Pension Plans
490(2)
Postretirement Benefits other than Pensions
491(1)
Income Taxes
492(4)
Introductory Deferred Tax Example
493(1)
Sources of Differences between Financial Accounting Income and Taxable Income
494(1)
Simple Deferred Income Tax Liability
495(1)
Business Context 11-1 International Accounting for Deferred Taxes
496(2)
Simple Deferred Income Tax Asset
496(1)
Income Tax Disclosure
497(1)
Data Mining 11-2 Income Taxes: Current and Deferred, Domestic and Foreign
498(2)
Capitalize versus Expense
500(3)
Research and Development Costs
501(1)
Oil and Gas Exploration Costs
502(1)
Advertising Costs
503(1)
Contingencies
503(2)
Accounting for Contingencies: Probable, Possible, and Remote
504(1)
Business Context 11-2 Frequent Flyer Miles
505(3)
Accounting for Lawsuits
506(1)
Accounting for Environmental Liabilities
507(1)
Review of Key Points
508(2)
Key Terms
510(1)
Questions
510(1)
Exercises
511(5)
Problems
516(3)
Applications and Extensions
519(14)
Case 2 Procter & Gamble
529(4)
Part 4 Investing Decisions
533(222)
Investments in Operating Assets
534(54)
What Are Long-Term Operating Assets?
537(1)
Deciding Whether to Acquire a Long-Term Operating Asset
538(1)
Acquisition of Property, Plant, and Equipment
539(1)
Corporate Governance 12-1 Location of Production Facilities: Which Stakeholders Are #1?
540(5)
Acquisition for Cash
541(1)
Acquisition through Leasing
541(1)
Acquisition via Exchange
542(1)
Acquisition through Donation
542(1)
Acquisition with a Basket Purchase
543(1)
Acquisition of an Entire Company
543(1)
Acquisition through Self-Construction
544(1)
The Acquisition of Intangible Assets
545(3)
Accounting for Goodwill
546(1)
Difficulties of Accounting for Intangible Assets: The Case of Brand Names
547(1)
Depreciation and Amortization
548(3)
What Causes Depreciation?
549(1)
Factors to Consider when Computing Depreciation
549(1)
Methods of Computing Depreciation
550(1)
Data Mining 12-1 Accumulated Depreciation and the Age of the Assets
551(6)
Comparison of Depreciation Methods
552(1)
Selecting a Depreciation Method for Financial Reporting Purposes
553(1)
Choosing a Depreciation Method for Tax Purposes
554(1)
Does Depreciation Create Cash Flow?
555(1)
Accounting for Changes in Estimated Useful Lives
556(1)
Amortization of Intangible Assets
557(1)
Impairments of Asset Value
557(1)
Business Context 12-1 Does the Market Understand Depreciation Accounting: The Case of Blockbuster Video
558(3)
Recording Decreases in the Value of Property, Plant, and Equipment
559(1)
Impairment of Intangible Assets
560(1)
Recording Increases in the Value of Property, Plant, and Equipment
561(1)
Disposal of Long-Term Assets
561(1)
Retirement of Operating Assets
561(1)
Sale of Operating Assets
561(1)
Business Context 12-2 Asset Write-Ups
562(1)
Trade-in of Operating Assets
563(1)
Measuring Property, Plant, and Equipment Efficiency
563(2)
Evaluating the Level of Property, Plant, and Equipment
563(1)
Dangers in Using Fixed Asset Turnover
564(1)
Review of Key Points
565(2)
Key Terms
567(1)
Questions
568(1)
Exercises
569(5)
Problems
574(7)
Applications and Extensions
581(7)
Investments in Securities
588(60)
Why Companies Invest in Other Companies
591(4)
Safety Cushion
591(1)
Cyclical Cash Needs
592(1)
Investment for a Return
593(1)
Investment for Influence
593(1)
Purchase for Control
594(1)
Corporate Governance 13-1 Independent Directors and Interlocking Boards
595(1)
Classification of Investment Securities
595(3)
Difference between Debt and Equity Securities
595(1)
Accounting Classification of Investment Securities
596(2)
Purchasing, Selling, and Earning a Return on Trading and Available-for-Sale Securities
598(1)
Accounting for the Purchase of Securities
598(1)
Accounting for Interest and Dividends
598(1)
Realized Gains and Losses on the Sale of Securities
599(1)
Recognizing and Recording the Changing Value of Securities
599(4)
Changes in the Value of Trading Securities
599(1)
Changes in the Value of Available-for-Sale Securities
600(1)
Computation of Overall Rate of Return
601(1)
Subsequent Changes in Value
601(2)
Data Mining 13-1 Computing Overall Rate of Return
603(1)
Accounting for Held-to-Maturity Securities
603(2)
Purchase of a Bond
603(1)
Recognizing Interest Revenue
604(1)
Accounting for Equity Method Securities
605(2)
Underlying Concepts
605(1)
Illustrating the Equity Method
606(1)
Consolidated Financial Statements
607(1)
Business Context 13-1 The FASB Votes to Put a Stop to Cherry-Picking
608(2)
Derivatives
610(8)
Types of Risks
611(1)
Types of Derivatives
612(2)
Types of Hedging Activities
614(1)
Accounting for Derivatives and for Hedging Activities
615(2)
Notional Amounts
617(1)
Data Mining 13-2 Derivatives: Fair Value and Notional Value
618(1)
Review of Key Points
618(2)
Key Terms
620(1)
Questions
621(1)
Exercises
621(7)
Problems
628(6)
Applications and Extensions
634(14)
Case 3 Intel
642(6)
Part 5 Financing Decisions
Financing with Debt
648(53)
Debt Financing: Conceptual Issues
650(3)
Definition of a Liability
650(1)
Classifications of Liabilities
651(1)
Measurement of Liabilities
652(1)
Short-Term Operating Liabilities, Short-Term Debt, and Lines of Credit
653(2)
Short-Term Operating Liabilities
653(1)
Short-Term Debt
654(1)
Lines of Credit
654(1)
Data Mining 14-1 Lines of Credit
655(1)
Present Value of Long-Term Debt
655(5)
Illustration of the Importance of Present Value
656(2)
A Note on Calculators and Computers
658(1)
Mortgage Illustration
659(1)
Bonds
660(1)
Features of Bonds
660(1)
Business Context 14-1 Will Mickey Mouse Be Around in 100 Years?
661(2)
Types of Bonds
661(1)
Bond Prices
662(1)
Corporate Governance 14-1 Bankruptcy and the Fiduciary Responsibility to Creditors
663(1)
Data Mining 14-2 Bond Prices
664(8)
Accounting for the Issuance of Bonds
667(2)
Reporting of Bonds Subsequent to Issuance
669(2)
Retiring Bonds
671(1)
Leases
672(6)
Economic Advantages of Leasing
672(1)
Simple Lease Example
673(2)
Lease Classification Criteria
675(1)
Accounting for Leases
675(1)
Operating versus Capital Leases
676(2)
Off-Balance-Sheet Financing
678(1)
Unconsolidated Subsidiaries
678(1)
Joint Ventures
679(1)
Debt-Related Ratios and the Impact of Operating Leases
679(4)
Debt-Related Financial Ratios
680(1)
Debt-to-Equity and Debt Ratio
680(1)
Times Interest Earned Ratio
681(1)
Operating Leases
681(2)
Review of Key Points
683(2)
Key Terms
685(1)
Questions
685(1)
Exercises
686(4)
Problems
690(5)
Applications and Extensions
695(6)
Financing with Equity
701(54)
Choosing Equity Financing
704(2)
Difference Between a Loan and an Investment
704(1)
Different Ways of Organizing a Business
705(1)
Data Mining 15-1 Volume of Business by Sole Proprietorships, Partnerships, and Corporations
706(1)
Corporations and Corporate Stock
707(1)
Business Context 15-1 Going Public with a Dot.com Company
708(2)
Common Stock
709(1)
Preferred Stock
710(1)
Issuance and Repurchase of Stock
710(2)
Issuance of Stock
710(1)
Accounting for Stock Repurchases
711(1)
Corporate Governance 15-1 Aligning Incentives: Management Stock Options
712(1)
Cash Dividends, Stock Dividends, and Stock Splits
713(1)
Business Context 15-2 Strategic Timing of Stock Repurchases
714(4)
Cash Dividends
714(2)
Declaration of Dividends
716(1)
Dividends and Preferred Stock
716(1)
Stock Dividends
716(2)
Business Context 15-3 Using Stock Dividends as Signals
718(2)
Stock Splits
719(1)
Data Mining 15-2 Microsoft's Stock Splits
720(1)
Other Equity Items
720(1)
Equity Items That Bypass the Income Statement
720(1)
Business Context 15-4 Do You Want a Stock Tip?
721(4)
International Accounting: Equity Reserves
723(2)
Equity Valuation
725(5)
Equity Valuation
726(4)
Review of Key Points
730(2)
Key Terms
732(1)
Questions
732(1)
Exercises
733(4)
Problems
737(6)
Applications and Extensions
743(12)
Case 4 AT&T
749(6)
Part 6 Additional Reporting and Analysis
755(46)
Accounting in a Global Market
756(45)
Foreign Currency Transactions
759(1)
Translating Foreign Currency Financial Statements
760(3)
Translation
761(2)
Data Mining 16-1 Foreign Currency Translation Adjustments
763(1)
International Financing Strategies and Reporting Practices
764(1)
Corporate Governance 16-1 The Far-Reaching Impact of Listing on a U.S. Stock Exchange
765(6)
Significant Differences in GAAP
766(1)
Meeting the Needs of International Investors
766(5)
Business Context 16-1 How Do Foreign Companies List in the United States?
771(1)
The Role of the International Accounting Standards Board
771(1)
Reconciliation of Foreign GAAP to U.S. GAAP: Form 20F
772(2)
Detailed Examination of the Form 20F Reconciliation for BASF
772(1)
Capitalization of Interest
773(1)
Business Context 16-2 Does One Size Fit All?
774(3)
Capitalization of Software Costs
774(1)
Provisions for Pensions
775(1)
Provisions for Various Liabilities
775(1)
Foreign Currency Items and Financial Derivatives
775(1)
Valuation of Securities
776(1)
Companies Accounted for Under the Equity Method
776(1)
Goodwill
776(1)
Deferred Taxes
776(1)
Minority Interest
776(1)
Summary
777(1)
Review of Key Points
777(1)
Key Terms
778(1)
Questions
779(1)
Exercises
779(6)
Problems
785(4)
Applications and Extensions
789(12)
Case 5 Coca-Cola
795(6)
Appendix A McDonald's: Excerpts from Form 10-K for 2003
801(20)
Appendix B The Present Value Module
821(24)
Simple Versus Compound Interest
822(1)
Simple Interest
822(1)
Compound Interest
822(1)
Future Value of a Single Amount
823
Simple Versus Compound Interest
822(1)
Simple Interest
822(1)
Compound Interest
822(1)
Future Value of a Single Amount
823(4)
Interest Compounded More Often Than Annually
825(1)
Determination of the Number of Periods or the Interest Rate
826(1)
Present Value of a Single Amount
827(3)
Present Value Tables
828(1)
Other Present Value Situations
829(1)
The Distinction between Future Value and Present Value
829(1)
Future Value of an Annuity
830(3)
Understanding the Future Value of an Annuity
830(1)
Solving Problems Involving the Future Value of an Annuity
831(2)
Present Value of an Annuity
833(3)
Determining the Present Value of an Annuity
833(1)
Problems Involving the Present Value of an Annuity
834(2)
Summary
836(1)
Key Terms
836(1)
Problems for Your Review
837(1)
Solution
837(1)
Questions
837(1)
Exercises
838(2)
Problems
840(5)
Glossary of Terms 845(7)
Subject Index 852(9)
Company Name Index 861

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