Custom FIM Exec Ed (USC-Marshall) 3e

by DeFond

ISBN: 0000000000 | Copyright 2023

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Financial Accounting for Decision Makers, 3e (pg. 1.2)
Chapter 1: Financial Accounting and Business Decisions (pg. 1.2)
What the Numbers Mean (pg. 1.2)
Business Organization (pg. 1.4)
Review 1.1 (pg. 1.5)
Activities of a Business (pg. 1.5)
Operating Activities (pg. 1.5)
Investing Activities (pg. 1.5)
Financing Activities (pg. 1.6)
Review 1.2 (pg. 1.6)
Accounting Information and Its Use (pg. 1.6)
External Users of Accounting (pg. 1.7)
Internal Users of Accounting (pg. 1.8)
Review 1.3 (pg. 1.8)
Ethics and Accounting (pg. 1.8)
Review 1.4 (pg. 1.9)
The Accounting Process (pg. 1.10)
Generally Accepted Accounting Principles (pg. 1.10)
International Financial Reporting Standards (pg. 1.11)
Review 1.5 (pg. 1.11)
Financial Statements (pg. 1.12)
Balance Sheet (pg. 1.12)
Income Statement (pg. 1.13)
Statement of Stockholders’ Equity (pg. 1.14)
Statement of Cash Flows (pg. 1.16)
Relations Among the Financial Statements (pg. 1.17)
Review 1.6 (pg. 1.18)
Additional Information (pg. 1.18)
Management Discussion and Analysis (pg. 1.18)
Notes to Financial Statements (pg. 1.19)
Auditor’s Report (pg. 1.19)
Review 1.7 (pg. 1.20)
Accounting and Technology (pg. 1.20)
Data Analytics and Data Visualization (pg. 1.20)
Blockchain (pg. 1.20)
Review 1.8 (pg. 1.21)
Summary of Learning Objectives (pg. 1.21)
Key Terms (pg. 1.23)
Self-Study Questions (pg. 1.24)
Questions (pg. 1.25)
Data Analytics (pg. 1.26)
Short Exercises (pg. 1.26)
Exercises (pg. 1.28)
Problems (pg. 1.30)
Serial Problem: Angel City Greetings (pg. 1.34)
Beyond The Numbers (pg. 1.34)
Answers to Self-Study Questions (pg. 1.37)
Review Solutions (pg. 1.37)
Chapter 2: Processing Accounting Information (pg. 1.40)
Score! (pg. 1.40)
Accounting Cycle (pg. 1.42)
Review 2.1 (pg. 1.43)
Analyze Transactions (pg. 1.43)
Accounting Equation Expanded (pg. 1.43)
Record Transactions (pg. 1.44)
Transaction 1. Issued Stock (pg. 1.44)
Transaction 2. Paid Rent in Advance (pg. 1.45)
Transaction 3. Purchased Office Supplies on Account (pg. 1.45)
Transaction 4. Signed Bank Note in Exchange for Cash (pg. 1.45)
Transaction 5. Purchased Equipment with Cash (pg. 1.46)
Transaction 6. Received Customer Prepayment (pg. 1.46)
Transaction 8. Performed Services for Both Cash and on Account (pg. 1.47)
Non-Accounting Transaction. Hired an Employee (pg. 1.47)
Transaction 9. Paid Employee Wages (pg. 1.47)
Transaction 10. Received Payment on Account from Customer (pg. 1.48)
Transaction 11. Paid Cash Dividend (pg. 1.48)
Transaction Summary (pg. 1.48)
Review 2.2 (pg. 1.50)
Transaction Analysis Template (pg. 1.51)
Horizontal Worksheet for Transaction 7 (pg. 1.51)
Transaction Analysis Template (TAT) for Transaction 7 (pg. 1.51)
Review 2.3 (pg. 1.52)
The “Account” System (pg. 1.52)
Source Documents (pg. 1.52)
Chart of Accounts (pg. 1.53)
The General Ledger (pg. 1.53)
Review 2.4 (pg. 1.53)
Summary of Learning Objectives (pg. 1.54)
Key Terms (pg. 1.54)
Self-Study Questions (pg. 1.54)
Questions (pg. 1.55)
Data Analytics (pg. 1.56)
Short Exercises (pg. 1.56)
Exercises (pg. 1.57)
Problems (pg. 1.60)
Serial Problem: Angel City Greetings (pg. 1.64)
Beyond the Numbers (pg. 1.65)
Answers to Self-Study Questions (pg. 1.67)
Review Solutions (pg. 1.68)
Chapter 3: Accrual Basis of Accounting (pg. 1.70)
Making Dough (pg. 1.70)
Accrual Basis of Accounting (pg. 1.72)
Revenue Recognition Principle (pg. 1.72)
Expense Recognition (Matching) Principle (pg. 1.74)
Review 3.1 (pg. 1.76)
Accounting Adjustments (pg. 1.76)
Types of Adjustments (pg. 1.77)
Recognizing Previously Deferred Revenue (pg. 1.78)
Recognizing Previously Deferred Expenses (pg. 1.79)
Recognizing Accrued Revenue (pg. 1.81)
Recognizing Accrued Expenses (pg. 1.82)
Summary of Accounting Adjustments (pg. 1.83)
Review 3.2 (pg. 1.84)
Preparing The Financial Statements (pg. 1.84)
Income Statement (pg. 1.86)
Statement of Stockholders’ Equity (pg. 1.86)
Balance Sheet (pg. 1.86)
Statement of Cash Flows (pg. 1.86)
Review 3.3 (pg. 1.87)
Quality of Accounting Numbers (pg. 1.87)
Close Temporary Accounts (pg. 1.88)
Summary of the Accounting Cycle (pg. 1.88)
Review 3.4 (pg. 1.89)
Summary of Learning Objectives (pg. 1.89)
Key Terms (pg. 1.90)
Self-Study Questions (pg. 1.90)
Questions (pg. 1.91)
Data Analytics (pg. 1.92)
Short Exercises (pg. 1.92)
Exercises (pg. 1.93)
Problems (pg. 1.96)
Serial Problem: Angel City Greetings (pg. 1.100)
Beyond The Numbers (pg. 1.101)
Answers to Self-Study Questions (pg. 1.103)
Review Solutions (pg. 1.103)

Mark DeFond

Leventhal School of Accounting Marshall School of Business University of Southern California

Mark DeFond is A. N. Mosich Chair in Accounting and Professor of Accounting in the Leventhal School of Accounting at University of Southern California Marshall School of Business. He has taught financial accounting to a variety of audiences, including undergraduates, MBAs, and Executive MBAs. Professor DeFond earned his Ph.D. from the University of Washington and his B.A. from San Franicsco State University. He is widely published and his research is highly cited. Professor DeFond has served on the editorial boards of several leading academic journals and is a recipient of several research awards, including the Notable Contribution to Auditing Literature Award and the Mellon Award for Excellence in Mentoring Faculty. He has held visiting professorships at universities in Hong Kong and Singapore. He is also a CPA (inactive), a four time winner of the MBA Golden Apple teaching award, and was ranked among the ten most outstanding USC MBA faculty by BusinessWeek.



Financial Accounting for Decision Makers, 3e (DeFond)
Errata
Last Updated: Oct 23 2023

Corrections to identified errors in the first printing. 

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