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CHAPTER
Glossary G-
Indexes I-
Contents in BriefPreface xixPhoto Credits xxviiiPART
ContentsPreface xixPhoto Credits xxviiiPART
FUNDAMENTALS AND COST-ACCUMULATION SYSTEMS
FUNDAMENTALS AND COST-ACCUMULATION SYSTEMS
Indexes I-
Glossary G-
PART
PART
CHAPTER
MANAGERIAL ACCOUNTING:AN OVERVIEW
PART
CHAPTER 1 MANAGERIAL ACCOUNTING:AN OVERVIEW
PART
CHAPTER
CHAPTER
ORGANIZATIONS AND THEIR GOALS
THE MANAGEMENT PROCESS
PART
PART
Decision making 4/Planning 5/Directing operational activities 5/Controlling
THE ROLE OF MANAGERIAL ACCOUNTING
CHAPTER
Professional services and sales budget 409/Production budget:Construction of orthotic devices 410/Direct-material budget 411/Direct-professional-labor budget 414/Indirect-professional-labor budget 414/CHAPTER
CHAPTER
CHAPTER
Objectives of managerial accounting activity 5/Managerial versusfinancial accounting 8/Managerial accounting in different types oforganizations
ROLE OF THE MANAGERIAL ACCOUNTANT
Line and staff positions
CHAPTER
MAJOR THEMES IN MANAGERIAL ACCOUNTING
CHAPTER
CHAPTER
CHAPTER
COST ANALYSIS AND PRICING DECISIONS
CHAPTER
CHAPTER
CHAPTER
888/Fixed versus variable costs 889/Dual cost allocation 891/AllocateCHAPTER
Information and incentives 12/Behavioral issues 12/Costs and benefits 12/Evolution and adaptation in managerial accounting 13/Cost managementsystems 17/A systems perspective 17/Accounting and computers
CHAPTER
STRATEGIC COST MANAGEMENT AND THE VALUE CHAIN
CHAPTER
MANAGERIAL ACCOUNTING ASACAREER
Professional organizations 22/Professional certification 22/Professional ethics 22/Chapter summary 24/Key terms 24/Reviewquestions 25/Exercises 25/Problems
BASIC COST TERMS AND CONCEPTS
CHAPTER 2 BASIC COST TERMS AND CONCEPTS
COST CLASSIFICATIONS:DIFFERENT COSTS FOR DIFFERENTPURPOSES
Fixed and variable costs 32/Identifying cost drivers 36/Direct and indi-rect costs 36/Controllable and uncontrollable costs 38/Manufacturingcosts 39/Production costs in service industry firms and nonprofit organi-zations 41/Nonmanufacturing costs 42/Prod
COSTS ON FINANCIAL STATEMENTS
COST FLOWS IN A MANUFACTURING COMPANY
Income statement 44/Balance sheet
ECONOMIC CHARACTERISTICS OF COSTS
Opportunity costs 47/Sunk costs 49/Differential costs 51/Marginalcosts and average costs
COSTS AND BENEFITS OF INFORMATION
Chapter summary 53/Review problems on cost classifications 54/Solutions to review problems 55/Key terms 56/Review questions 56/Exercises 57/Problems 60/Cases
CHAPTER 3 JOB-ORDER COSTING SYSTEMS
JOB-ORDER COSTING SYSTEMS
Product costing in nonmanufacturing firms
PRODUCT AND SERVICE COSTING
FLOW OF COSTS IN MANUFACTURING FIRMS
TYPES OF PRODUCT-COSTING SYSTEMS
Job-order costing systems 76/Process-costing systems 77/Summary ofalternative product-costing systems
ACCUMULATING COSTS INAJOB-ORDER COSTING SYSTEM
Job-cost sheet 78/Direct-material costs 78/Direct-labor costs 80/Manufacturing-overhead costs 81/Summary of event sequence in job-order costing
ILLUSTRATION OF JOB-ORDER COSTING
Purchase of material 82/Use of direct material 84/Use of indirect ma-terial 84/Use of direct labor 84/Use of indirect labor 86/Incurrenceof manufacturing-overhead costs 86/Application of manufacturing over-head 86/Summary of overhead accounting 87/Sellin
FURTHER ASPECTS OF OVERHEAD APPLICATION
TWO-STAGE COST ALLOCATION
Accuracy versus timeliness of information:A cost-benefit issue 93/Choosing the cost driver for overhead application 97/Departmental over-head rates
Activity-based costing:An introduction
PROJECT COSTING:JOB-ORDER COSTING IN NONMANUFACTURINGORGANIZATIONS
CHANGING TECHNOLOGY IN MANUFACTURING OPERATIONS
Electronic data interchange(EDI)103/Use of bar codes 103/Chaptersummary 104/Key terms
APPENDIX:DIFFERENT OVERHEAD RATES UNDER PLANTWIDE,DEPRTMENTAL,AND ACTIVITY-BASED COSTING SYSTEMS
Review questions 109/Exercises 109/Problems 115/Cases
PROCESS COSTING AND HYBRID PRODUCT-COSTING SYSTEMS
CHAPTER 4 PROCESS COSTING AND HYBRID PRODUCT-COSTING SYSTEMS
COMPARISON OF JOB-ORDER COSTING AND PROCESS COSTING
Differences between job-order and process costing
EQUIVALENT UNITS:A KEY CONCEPT
ILLUSTRATION OF PROCESS COSTING
Basic data for illustration 142/Weighted-average method 143/FIFOmethod 147/Just-in-Time(JIT)Inventory Methods
OTHER ISSUES IN PROCESS COSTING
HYBRID PRODUCT-COSTING SYSTEMS
Operation costing for batch manufacturing processes
ADAPTING PRODUCT-COSTING SYSTEMS TO TECHNOLOGICALCHANGE
Chapter summary 155/Key terms
APPENDIXA:FIFO METHOD OF PROCESS COSTING
APPENDIX B:PROCESS COSTING IN SEQUENTIAL PRODUCTIONDEPARTMENTS
Weighted-average method 165/FIFO method 165/Summary oftransferred-in costs 170/Review questions 170/Exercises 171/Problems 176/Cases
ACTIVITY-BASED COSTING AND COSTMANAGEMENT SYSTEMS
CHAPTER 5 ACTIVITY-BASED COSTING AND COSTMANAGEMENT SYSTEMS
Production process 190/Plant layout 192/Traditional,volume-basedproduct-costing system 193/Trouble in Phoenix 194/Activity-based cost-ing system 195/Interpreting the ABC product costs 201/The punch line
AEROTECH CORPORATION:ATALE OF TWO CITIES
202/Why traditional,volume-based systems distort product costs
ACTIVITy-BASED COSTING:SOME KEY ISSUES
Cost drivers 207/Homogeneous activity cost pools 209/Transaction cost-ing 209/Storyboarding 210/Multidisciplinary ABC project teams 210/Direct versus indirect costs 210/When is a new product-costing systemneeded?
COST MANAGEMENT SYSTEMS
Non-value-added costs 213/Identifying non-value-added costs in thePhoenix plant
ACTIVITY-BASED COSTING AND MANAGEMENT IN THE SERVICEINDUSTRY
ACTIVITY-BASED MANAGEMENT
Chapter summary 218/Review problem on cost drivers and product-costdistortion 219/Solution to review problem 220/Key terms 220/Reviewquestions 221/Exercises 221 /Problems 228/Cases
ACTIVITY-BASED MANAGEMENT AND THENEW MANUFACTURING ENVIRONMENT
CHAPTER 6 ACTIVITY-BASED MANAGEMENT AND THE NEWMANUFACTURING ENVIRONMENT
AEROTECH'S BAKERSFIELD PLANT:ADVANCED MANUFACTURINGTECHNOLOGY
Just-in-time inventory and production management 250/Flexible manufac-turing system 253/Plant layout at Aerotech's Bakersfield facility 254/Cost management system in Bakersfield
TWO-DIMENSIONAL ABC AND ACTIVITY-BASED MANAGEMENT
Using ABM to eliminate non-value-added activities and costs 261/Achieving cost reduction
TARGET COSTING,KAIZEN COSTING,AND CONTINUOUSIMPROVEMENT
Target costing 264 / Kaizen costing 265 / Toyota:Target costing and kaizencosting in action 266/Benchmarking 267/Re-engineering 268/Theory ofconstraints
KEYS TO SUCCESSFULLY IMPLEMENTING ABC AND ABM
COST FLOWS IN A JIT SETTING
OTHER COSTMANAGEMENT ISSUES IN THE NEW MANUFACTURINGENVIRONMENT
Chapter summary 274/Key terms 275 / Review questions 275/Exercises 276/Problems 279/Cases
PLANNING AND CONTROLSYSTEMS
PLANNING AND CONTROLSYSTEMS
CHAPTER 7 COST BEHAVIOR AND ESTIMATION
CHAPTER 7 COST BEHAVIOR AND ESTIMATION
COST BEHAVIOR PATTERNS
Variable costs 297/Step-variable costs 298/Fixed costs 299 / Step-fixedcosts 301/Semivariable cost 301/Curvilinear cost 302/Using cost be-havior patterns to predict costs 304/Engineered,committed,and discre-tionary costs 305/Shifting cost structure in th
COST ESTIMATION
Account-classification method 308/Visual-fit method 309/High-lowmethod 311 / Least-squares regression method 311/Multiple regression
WORK MEASUREMENT
Chapter summary 320/Review problems on cost behavior and estimation
315/Data collection problems 315/Engineering method of cost estima-tion 316/Effect of learning on cost behavior 316/Costs and benefits ofinformation
321/Solutions to review problems 321/Key terms
APPENDIX:FINDING THE LEAST-SQUARES REGRESSION ESTIMATES
Key terms:Appendix 325/REview questions 325/Exercises 327/Problems 332/Cases
CHAPTER 8 COST-VOLUME-PROFIT ANALYSIS
COST-VOLUME-PROFIT ANALYSIS
Projected expenses and revenue
ILLUSTRATION OF COST-VOLUME-PROFIT ANALYSIS
THE BREAK-EVEN POINT
Contribution-margin approach 351/Equation approach
Interpreting the CVP graph 355/Alternative format for the CVP graph
GRAPHING COST-VOLUME-PROFIT REIATIONSHIPS
357/Profit-volume graph
TARGET NET PROFIT
Contribution-margin approach 358/Equation approach 359/Graphicalapproach
APPLYING CVP ANALYSIS
Safety margin 359/Changes in fixed expenses 360/Changes in the unitcontribution margin 360/Predicting profit given expected volume 361/Interdependent changes in key variables 363/CVP information in pub-lished annual reports
CVP ANALYSIS WITH MULTIPLE PRODUCTS
ASSUMPTIONS UNDERLYING CVP ANALYSIS
Role of computerized planning models and electronic spreadsheets
CVP RELATIONSHIPS AND THE INCOME STATEMENT
Traditional income statement 368/Contribution income statement
368/Comparison of traditional and contribution income statements
COST STRUCTURE AND OPERATING LEVERAGE
Operating leverage 371/Cost structure and operating leverage:a cost-benefit issue
CVP ANALYSIS,ACTIVITY-BASED COSTING,AND ADVANCEDMANUFACTURING SYSTEMS
A move toward JIT and flexible manufacturing 375/Chapter summary 377/Review problem on cost-volume-profit analysis
377/Solution to review problem 378/Key terms
APPENDIX:EFFECT OF INCOME TAXES
Key terms:Appendix 382/Review questions 382/Exercises 383/Problems 386/Cases
CHAPTER 9 BUDGETING:PROFIT PLANNING AND CONTROLSYSTEMS
BUDGETING:PROFIT PLANNING ANDCONTROL SYSTEMS
PURPOSES OF BUDGETING SYSTEMS
THE MASTER BUDGET:A PLANNING TOOL
TYPES OF BUDGETS
Sales of services or goods 405/Operational budgets 407/Budgeted finan-cial statements 408/Nonprofit organizations
AN ILLUSTRATION OF THE MASTER BUDGET
Overhead budget 414/Selling and administrative expense budget 416/Cash receipts budget 417/Cash disbursements budget 417/Summarycash budget 420/Budgeted income statement 421/Budgeted balancesheet 421/Using the master budget for planning
BUDGET ADMINISTRATION
ASSUMPTIONS AND PREDICTIONS:THE UNDERPINNINGS OF THEMASTER BUDGET
Financial planning models
ZERO-BASE BUDGETING
INTERNATIONAL ASPECTS OF BUDGETING
BUDGETING PRODUCT LIFE-CYCLE COSTS
BEHAVIORAL IMPACT OF BUDGETS
Budgetary slack:Padding the budget 430/Participative budgeting 431/Management by objectives 432/Ethical issues in budgeting 432/Chapter summary 433/Key terms
APPENDIX:INVENTORY MANAGEMENT
Economic order quantity 435/Timing of orders
JIT INVENTORY MANAGEMENT:IMPLICATIONS FOR EOQ
Key terms:Appendix 440/Review questions 440/Exercises 441/Problems 441/Cases
CHAPTER 1O STANDARD COSTING AND PERFORMANCEMEASURES FOR THE NEW MANUFACTURINGENVIRONMENT
CHAPTER 1OSTANDARD COSTING AND PERFORMANCEMEASURES FOR THE NEW MANUFACTURINGENVIRONMENT
CONTROLLING COSTS
Management by exception
SETTING STANDARDS
Participation in setting standards 471/Perfection versus practical stan-dards:A behavioral issue
USE OF STANDARDS BY NONMANUFACTURING ORGANIZATIONS
COST VARIANCE ANALYSIS
Direct-material standards 474/Direct-labor standards 474/Standardcosts given actual output 475/Analysis of cost variances 475/Direct-material variances 475/Direct-labor variances 478/Multiple types of di-rect material or direct labor 479/Allowing for spo
SIGNIFICANCE OF COST VARIANCES
A statistical approach
BEHAVIORAL IMPACT OF STANDARD COSTING
CONTROLLABILITY OF VARIANCES
Interaction among variances
STANDARD COSTS AND PRODUCT COSTING
ADVANTAGES OF STANDARD COSTING
CHANGING ROLE OF STANDARD-COSTING SYSTEMS IN THE NEWMANUFACTURING ENVIRONMENT
Criticisms of standard costing in the new manufacturing environment 490/Adapting standard-costing systems
OPERATIONAL CONTROL MEASURES IN THE NEWMANUFACTURING ENVIRONMENT
Gain-sharing plans
Chapter summary 498/Review problems on standard costing and operationalperformance measures 499/Solutions to review problems 500/Key terms
THE BALANCED SCORECARD
502/Review questions 502/Exercises 503/Problems 507/Cases
FLEXIBLE BUDGETS AND CONTROL OFOVERHEAD COSTS
CHAPTER 11 FLEXIBLE BUDGETS AND CONTROL OFOVERHEAD COSTS
OVERHEAD BUDGETS
Flexible budgets 526/Advantages of flexible budgets 526/The activitymeasure
FLEXIBLE OVERHEAD BUDGET ILLUSTRATED
OVERHEAD APPLICATION IN A STANDARD-COSTING SYSTEM
Criteria for choosing the activity measure
CHOICE OF ACTIVITY MEASURE
OVERHEAD COST VARIANCES
Variable overhead 534/Fixed overhead 537/Four-way,three-way,andtwo-way variance analysis
STANDARD COSTS AND PRODUCT COSTING
OVERHEAD COST PERFORMANCE REPORT
ACTIVITY-BASED FLEXIBLE BUDGET
MEASURING AND REPORTING QUALITY COSTS
Chapter summary 549/Review problem on overhead variances 550/Solution to review problem 550/Key terms
APPENDIX:SALES VARIANCES
ISO 9000 STANDARDS
Key terms:Appendix 553/Review questions 553/Exercises 554/Problems 558/Cases
SECTION 1 RESPONSIBILITY ACCOUNTING ANDSEGMENTED REPORTING
RESPONSIBILITY ACCOUNTING AND INCOMEREPORTING
CHAPTER 12 RESPONSIBILITY ACCOUNTING AND INCOMEREPORTING
Responsibility centers
ILLUSTRATION OF RESPONSIBILITY ACCOUNTING
PERFORMANCE REPORTS
Cost-plus pricing 751/Absorption-cost pricing formulas 753/Variable-costBUDGETS,VARIANCE ANALYSIS,AND RESPONSIBILITYACCOUNTING
Cost allocation 586/Activity-based responsibility accounting
BEHAVIORAL EFFECTS OF RESPONSIBILITY ACCOUNTING
Information versus blame 589/Controllability 590/Motivating desiredbehavior
SEGMENTED REPORTING
Segments versus segment managers 593/Key features of segmented report-ing 593/Customer profitability analysis and activity-based costing
SECTION 2 VARIABLE AND ABSORPTIONCOSTING
ILLUSTRATION OF VARIABLE AND ABSORPTION COSTING
Absorption-costing income statements 595/Variable-costing income state-ments 596/Reconciling income under absorption and variable costing
597/Cost-volume-profit analysis 599/Evaluation of absorption and vari-able costing 600/Chapter summary 601/Review problem on responsibil-ity accounting 602/Solution to review problem 602/Key terms
APPENDIX:EFFECT OF THE VOLUME VARIANCE UNDERABSORPTION AND VARIABLE COSTING
Review questions 607/Exercises 608/Problems 612/Cases
CHAPTER 13 INVESTMENT CENTERS AND TRANSFERPRICING
INVESTMENT CENTERS AND TRANSFERPRICING
DELEGATION OF DECISION MAKING
Obtaining goal congruence:A behavioral challenge 630/Adaptation ofmanagement control systems
MEASURING PERFORMANCE IN INVESTMENT CENTERS
Return on investment 632/Residual income
MEASURING INCOME AND INVESTED CAPITAL
Invested capital 637/Measuring investment-center income 640/Inflation:Historical-cost versus current-value accounting 641/Measuring incomeand invested capital:Summary
OTHER ISSUES IN SEGMENT PERFORMANCE EVALUATION
Alternatives to ROI and residual income 642/Importance of nonfinancialinformation 643/Measuring performance in nonprofit organizations
TRANSFER PRICING
Goal congruence 644/General-transfer-pricing rule 645/Transfers basedon the external market price 648/Negotiated transfer prices 650/Cost-based transfer prices 650/Standard versus actual costs 651/Undermining divisional autonomy 651/An international pers
BEHAVIORAL ISSUES:RISK AVERSION AND INCENTIVES
GOAL CONGRUENCE AND INTERNAL CONTROL SYSTEMS
Chapter summary 655/Review problems on investment centers and trans-fer pricing 655/Solutions to review problems 656/Key terms 657/Review questions 657/Exercises 658/Problems 661/Cases
USING ACCOUNTING INFORMATIONIN MAKING DECISIONS
USING ACCOUNTING INFORMATIONIN MAKING DECISIONS
THE MANAGERIAL ACCOUNTANT'S ROLE IN DECISION MAKING
CHAPTER 14 DECISION MAKING:RELEVANT COSTS ANDBENEFITS
DECISION MAKING:RELEVANT COSTS ANDBENEFITS
Steps in the decision-making process 678/Quantitative versus qualitativeanalysis 679/Obtaining information:Relevance,accuracy,and timeliness
Importance of identifying relevant costs and benefits
RELEVANT INFORMATION
IDENTIFYING RELEVANT COSTS AND BENEFITS
ANALYSIS OF SPECIALDECISIONS
Sunk costs 682/Irrelevant future costs and benefits 685/Opportunitycosts 685/Summary
Accept or reject a special order 687/Outsource a product of service 689/Add or drop a service,product,or department
SPECIAL DECISIONS IN MANUFACTURING FIRMS
Joint products:Sell or process further 694/Decisions involving limited re-sources 696/Uncertainty
ACTIVITY-BASED COSTING AND THE NEW MANUFACTURINGENVIRONMENT
Conventional outsourcing(make-or-buy)analysis 700/Activity-based cost-ing analysis of the outsourcing decision
OTHER ISSUES IN DECISION MAKING
Incentives for decision makers 703/Short-run versus long-run decisions
704/Pitfails to avoid 704/Chapter summary 705/Review problem onrelevant costs 706/Solution to review problem 706/Kev terms
APPENDIX:LINEAR PROGRAMMING
Graphical solution 709/Managerial accountant's role 710/Key terms:Appendix 711/Review questions 711/Exercises 712/Problems 716/Cases
CHAPTER 15 COST ANALYSIS AND PRICING DECISIONS
MAJOR INFLUENCES ON PRICING DECISIONS
Customer demand 742/Actions of competitors 742/Costs 742/Political,legal,and image-related issues
ECONOMIC PROFIT-MAXIMIZING PRICING
Total revenue,demand,and marginal revenue curves 745/Total cost andmarginal cost curves 747/Profit-maximizing price and quantity 749/Price elasticity 749/Limitations of the profit-maximizing model 750/Costs and benefits of information
ROLE OF ACCOUNTING PRODUCT COSTS IN PRICING
pricing formulas 753/Determining the markup 754/Cost-plus pricing:Summary and evaluation
TIME AND MATERIAL PRICING
COMPETITIVE BIDDING
STRATEGIC PRICING OF NEW PRODUCTS
Target costing 762/Product-cost distortion and pricing:The role ofactivity-based costing
EFFECT OF ANTITRUST LAWS ON PRICING
Chapter summary 766/Review problem on cost-plus pricing 766/Solution to review problem 767/Key terms 768/Review questions 768/Exercises 769/Problems 772/Cases
CAPITAL EXPENDITURE DECISIONS:ANINTRODUCTION
CHAPTER 16 CAPITAL EXPENDITURE DECISIONS:ANINTRODUCTION
CONCEPT OF PRESENT VALUE
DISCOUNTED-CASH-FLOW ANALYSIS
Net-present-value method 795/Internal-rate-of-return method 796/Comparing the NPV and IRR methods 800/Assumptions underlyingdiscounted-cash-flow analysis 801/Choosing the hurdle rate 802/Depreciable assets
COMPARING TWO INVESTMENT PROJECTS
MANAGERIAL ACCOUNTANT'S ROLE
Sensitivity analysis
CAPITAL BUDGET ADMINISTRATION
Postaudit 807/Controlling capital-investment expenditures
PERFORMANCE EVALUATION:A BEHAVIORAL ISSUE
JUSTIFICATION OF INVESTMENTS IN ADVANCEDMANUFACTURINGSYSTEMS
Chapter summary 812/Key terms
APPENDIX:FUTURE VALUE AND PRESENT VALUE TABLES
Review questions 818/Exercises 818/Problems 821/Cases
FURTHER ASPECTS OF CAPITALEXPENDITURE DECISIONS
CHAPTER 17 FURTHER ASPECTS OF CAPITAL EXPENDITUREDECISIONS
INCOME TAXES AND CAPITAL BUDGETING
After-tax cash flows 834/Accelerated depreciation 837/ModifiedAccelerated Cost Recovery System(MACRS)837/Gains and losses on dis-posal 841/Investment in working capital 843/Extended illustration ofincometax effects in capital budgeting
RANKING INVESTMENT PROJECTS
ADDITIONAL METHODS FOR MAKING INVESTMENT DECISIONS
Payback method 849/Accounting-rate-of return method
ESTIMATING CASH FLOWS:THE ROLE OF ACTIVITY-BASEDCOSTING
Chapter summary 855/Key terms
APPENDIX:IMPACT OF INFIATION
Two capital-budgeting approaches under inflation 858/Key terms:Appendix 861/Review questions 861/Exercises 862/Problems 864/Cases
SELECTED TOPICS FOR FURTHERSTUDY
SELECTED TOPICS FOR FURTHERSTUDY
COST ALLOCATION:A CLOSER LOOK
CHAPTER 18 COST ALLOCATION:A CLOSER LOOK
Direct method 886/Step-down method 887/Reciprocal-services method
SECTION 1 SERVICE DEPARTMENT COSTALLOCATION
THE NEW MANUFACTURING ENVIRONMENT
SECTION 2 JOINT PRODUCT COST ALLOCATION
The rise of activity-based costing
Allocating joint costs 896/Chapter summary 899/Key terms
APPENDIX:RECIPROCAL-SERVICES METHOD
Review questions 903/Exercises 903/Problems 905/Cases
ANALYZING FINANCIAL STATEMENTS
CHAPTER 19 ANALYZING FINANCIAL STATEMENTS
Analytical techniques used 916/Importance of comparisons and trends
OBJECTIVES OF FINANCIAL STATEMENT ANALYSIS
OVERVIEW OF FINANCIAL STATEMENTS
COMPARATIVE FINANCIAL STATEMENTS
917/Sources of data
Horizontal analysis 918/Trend analysis 920/Vertical analysis
Working capital 923/Current ratio 924/Acid-test ratio 924/Accountsreceivable turnover 925/Inventory turnover 926/Book value of securities
RATIO ANALYSIS:THE BALANCE SHEET
927/Capitalization ratios
929/Earnings per share 930/Return on assets 932/Return on equity
Operating income 929/Coverage of interest and preferred stock dividends
RATIO ANALYSIS:THE INCOME STATEMENT
933/Return on sales 933/Financial leverage
RATIO ANALYSIS:THE STATEMENT OF RETAINED EARNINGS
Dividend payout ratio 935/Dividend yield ratio
NOTES TO FINANCIAL STATEMENTS
SUMMARY OF FINANCIAL STATEMENT ANALYSIS
LIMITATIONS OF FINANCIAL STATEMENT ANALYSIS
Chapter summary 938/Key terms 938/Review questions 938/Exercises
939/Problems 942/Cases
CHAPTER 2O PREPARING THE STATEMENT OF CASHFLOWS
PREPARIN G THE STATEMENT OF CASHFLOWS
EVOLUTION OF THE STATEMENT OF CASH FLOWS
Purpose of the statement of cash flows
CASH AND CASH EQUIVALENTS
Operating activities 961/Investing activities 961/Financing activities
CONTENT AND ORGANIZATION OF THE STATEMENT
PREPAR ATION OF THE STATEMENT
Direct and indirect methods
USING THE INDIRECT METHOD OF STATEMENT PREPARATITON
Operating activities 964/Investing activities 970/Financing activities972/Completed statement of cash flows
USE OFT-ACCOUNTS AS AN AID IN PREPARING THE STATEMENTOF CASH FLOWS
Step one:Prepare T-accounts 975/Step two:Enter account balances 975/Step three:Analyze the cash flows from operating activities 975/Step four:Analyze the cash flows from investing activities 978/Step five:Analyzethe cash flows from financing activities
USING THE DIRECT METHOD OF STATEMENT PREPARATION
Operating activities 980/Investing activities 983/Financing activities984/Completed statement of cash flows
OTHER ISSUES IN PREPARING THE STATEMENT OF CASH FLOWS
Gross versus net cash flows 984/Direct exchange or noncash transactions
USING THE STATEMENT OF CASH FLOWS
Illustration of the statement of cash flows 986 / Chapter summary 986 /Review questions 988/Exercises 989/Problems 991/Case
