Custom ACCT 603 (RIT)

by Hanlon

ISBN: 978-1-61853-459-0 | Copyright 2022

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Financial & Managerial Accounting for Decision Makers, 4e (pg. 1.2)
Chapter 1 Introducing Financial Accounting (pg. 1.2)
Demand for Accounting Information (pg. 1.4)
Who Uses Financial Accounting Information? (pg. 1.5)
Costs and Benefits of Disclosure (pg. 1.7)
Business Activities (pg. 1.7)
Planning Activities (pg. 1.8)
Investing Activities (pg. 1.8)
Financing Activities (pg. 1.9)
Operating Activities (pg. 1.10)
Financial Statements (pg. 1.11)
Balance Sheet (pg. 1.12)
Income Statement (pg. 1.12)
Statement of Cash Flows (pg. 1.14)
Financial Statement Linkages (pg. 1.15)
Information Beyond Financial Statements (pg. 1.16)
Mid-Chapter Review (pg. 1.16)
Financial Reporting Environment (pg. 1.17)
Generally Accepted Accounting Principles (pg. 1.17)
Regulation and Oversight (pg. 1.18)
Role of the Auditor (pg. 1.19)
A Global Perspective (pg. 1.20)
Analyzing Financial Statements (pg. 1.21)
Profitability Analysis (pg. 1.21)
Analysis Objective (pg. 1.21)
Credit Risk Analysis (pg. 1.23)
Analysis Objective (pg. 1.23)
Technology and Accounting (pg. 1.24)
Organization of the Book (pg. 1.25)
Chapter-End Review (pg. 1.25)
Appendix 1A: Conceptual Framework for Financial Reporting (pg. 1.26)
Objective of Financial Reporting (pg. 1.26)
Qualitative Characteristics of Useful Financial Information (pg. 1.26)
Enhancing Qualitative Characteristics (pg. 1.27)
The Cost Constraint (pg. 1.28)
Additional Underlying Basic Assumptions (pg. 1.28)
Summary (pg. 1.28)
Guidance Answers . . . You Make the Call (pg. 1.30)
Key Ratios (pg. 1.30)
Key Terms (pg. 1.30)
Multiple Choice (pg. 1.31)
Questions (pg. 1.31)
Mini Exercises (pg. 1.32)
Exercises (pg. 1.33)
Problems (pg. 1.35)
Solutions to Review Problems (pg. 1.39)
Mid-Chapter Review (pg. 1.39)
Chapter-End Review (pg. 1.40)
Chapter 2 Constructing Financial Statements (pg. 1.42)
Reporting Financial Condition (pg. 1.44)
Assets (pg. 1.44)
Liabilities and Equity (pg. 1.47)
Reporting Financial Performance (pg. 1.53)
Accrual Accounting for Revenues and Expenses (pg. 1.54)
Retained Earnings (pg. 1.56)
Analyzing and Recording Transactions for the Income Statement (pg. 1.56)
Reporting on Equity (pg. 1.60)
Analyzing and Recording Equity Transactions (pg. 1.60)
Statement of Stockholders’ Equity (pg. 1.61)
Mid-Chapter Review 3 (pg. 1.61)
Journalizing and Posting Transactions (pg. 1.62)
T-Account (pg. 1.62)
Debit and Credit System (pg. 1.62)
T-Account with Debits and Credits (pg. 1.63)
The Journal Entry (pg. 1.64)
Analyze, Journalize, and Post (pg. 1.64)
Analyzing Financial Statements (pg. 1.71)
Analysis Objective (pg. 1.71)
Chapter-End Review (pg. 1.73)
Summary (pg. 1.73)
Guidance Answers . . . You Make the Call (pg. 1.74)
Key Ratios (pg. 1.74)
Key Terms (pg. 1.75)
Multiple Choice (pg. 1.75)
Questions (pg. 1.76)
Mini Exercises (pg. 1.76)
Exercises (pg. 1.80)
Problems (pg. 1.86)
Cases and Projects (pg. 1.92)
Solutions to Review Problems (pg. 1.93)
Chapter 3 Adjusting Accounts for Financial Statements (pg. 1.100)
Accounting Cycle (pg. 1.102)
Analyzing and Recording Transactions (pg. 1.103)
Review of Accounting Procedures (pg. 1.103)
Review of Recording Transactions (pg. 1.103)
Adjusting the Accounts (pg. 1.109)
Preparing an Unadjusted Trial Balance (pg. 1.110)
Types of Adjustments (pg. 1.110)
Ethics and Adjusting Entries (pg. 1.117)
Mid-Chapter Review (pg. 1.117)
Constructing Financial Statements from Adjusted Accounts (pg. 1.118)
Preparing an Adjusted Trial Balance (pg. 1.118)
Preparing Financial Statements (pg. 1.118)
Closing Temporary Accounts (pg. 1.122)
Closing Process (pg. 1.123)
Closing Steps Illustrated (pg. 1.123)
Preparing a Post-Closing Trial Balance (pg. 1.124)
Subsequent Events (pg. 1.125)
Summarizing the Accounting Cycle (pg. 1.125)
Financial Statement Analysis (pg. 1.125)
Using Information on Levels and Flows (pg. 1.125)
Chapter-End Review (pg. 1.127)
Summary (pg. 1.128)
Guidance Answers . . . You Make the Call (pg. 1.128)
Key Terms (pg. 1.129)
Multiple Choice (pg. 1.129)
Questions (pg. 1.130)
Mini Exercises (pg. 1.130)
Exercises (pg. 1.133)
Problems (pg. 1.136)
Cases and Projects (pg. 1.145)
Solutions to Review Problems (pg. 1.147)
Chapter 4 Reporting and Analyzing Cash Flows (pg. 1.156)
Purpose of the Statement of Cash Flows (pg. 1.158)
What Do We Mean by “CASH”? (pg. 1.158)
What Does a Statement of Cash Flows Look Like? (pg. 1.159)
Framework for the Statement of Cash Flows (pg. 1.159)
Operating Activities (pg. 1.160)
Investing Activities (pg. 1.160)
Financing Activities (pg. 1.160)
Usefulness of Classifications (pg. 1.161)
Mid-Chapter Review 1 (pg. 1.162)
Preparing the Statement of Cash Flows-Operating Activities (pg. 1.162)
Converting Revenues and Expenses to Cash Flows from Operating Activities (pg. 1.164)
Mid-Chapter Review 2 (pg. 1.171)
Reconciling Net Income and Cash Flow from Operating Activities (pg. 1.171)
Cash Flow from Operating Activities Using the Indirect Method (pg. 1.173)
Mid-Chapter Review 3 (pg. 1.174)
Preparing the Statement of Cash Flows-Investing and Financing Activities (pg. 1.174)
Cash Flows from Investing Activities (pg. 1.174)
Cash Flows from Financing Activities (pg. 1.175)
Mid-Chapter Review 4 (pg. 1.177)
Additional Detail in the Statement of Cash Flows (pg. 1.177)
Case Illustration (pg. 1.177)
Gains and Losses on Investing and Financing Activities (pg. 1.179)
Noncash Investing and Financing Activities (pg. 1.180)
Mid-Chapter Review 5 (pg. 1.181)
The Effects of Foreign Currencies on the Cash Flow Statement (pg. 1.181)
Supplemental Disclosures (pg. 1.182)
Analysis Objective (pg. 1.183)
Chapter-End Review (pg. 1.186)
Appendix 4A: A Spreadsheet Approach to Preparing the Statement of Cash Flows (pg. 1.186)
Step 1: Classify the balance sheet accounts. (pg. 1.186)
Step 2: Compute the changes in the balance sheet accounts. (pg. 1.187)
Step 3: Handle the accounts that have single classifications. (pg. 1.187)
Step 4: Enter the effect of investing/financing transactions that do not involve cash. (pg. 1.188)
Step 5: Analyze the change in retained earnings. (pg. 1.188)
Step 6: Analyze the change in plant assets. (pg. 1.188)
Step 7: Total the columns. (pg. 1.188)
Step 8: Prepare the cash flow statement. (pg. 1.188)
Appendix 4A Review (pg. 1.189)
Summary (pg. 1.189)
Guidance Answers . . . You Make the Call (pg. 1.190)
Key Ratios (pg. 1.191)
Key Terms (pg. 1.191)
Multiple Choice (pg. 1.191)
Questions (pg. 1.192)
Mini Exercises (pg. 1.193)
Exercises (pg. 1.197)
Problems (pg. 1.201)
Cases and Projects (pg. 1.209)
Solutions to Review Problems (pg. 1.214)
Chapter 5 Analyzing and Interpreting Financial Statements (pg. 1.218)
Introduction (pg. 1.220)
Assessing the Business Environment (pg. 1.220)
Vertical and Horizontal Analysis (pg. 1.221)
Mid-Chapter Review 1 (pg. 1.223)
Return on Investment (pg. 1.225)
Return on Equity (ROE) (pg. 1.225)
Return on Assets (ROA) (pg. 1.225)
Return on Financial Leverage (ROFL) (pg. 1.226)
Mid-Chapter Review 2 (pg. 1.227)
Disaggregating ROA (pg. 1.228)
Liquidity and Solvency (pg. 1.233)
Liquidity Analysis (pg. 1.235)
Solvency Analysis (pg. 1.237)
Limitations of Ratio Analysis (pg. 1.239)
Chapter-End Review (pg. 1.240)
Appendix 5A: Analyzing and Interpreting Core Operating Activities (pg. 1.241)
Reporting Operating Activities in the Income Statement (pg. 1.241)
Reporting Operating Activities in the Balance Sheet (pg. 1.242)
Disaggregating RNOA (pg. 1.242)
Appendix 5A Review (pg. 1.243)
Appendix 5B: Financial Statement Forecasts (pg. 1.243)
Step 1. Forecast Sales Revenue (pg. 1.243)
Step 2. Forecast Operating Expenses (pg. 1.244)
Step 3. Forecast Operating Assets and Liabilities (pg. 1.244)
Step 4. Forecast Nonoperating Assets, Liabilities, Revenues and Expenses (pg. 1.244)
Step 5. Forecast Net Income, Dividends, and Retained Earnings (pg. 1.245)
Step 6. Forecast Cash (pg. 1.246)
Step 7. Prepare the Cash Flow Statement Forecast (pg. 1.247)
Additional Considerations (pg. 1.247)
Appendix 5B Review (pg. 1.248)
Summary (pg. 1.248)
Key Ratios (pg. 1.249)
Key Terms (pg. 1.250)
Multiple Choice (pg. 1.250)
Guidance Answers . . . You Make the Call (pg. 1.251)
Questions (pg. 1.251)
Mini Exercises (pg. 1.251)
Exercises (pg. 1.255)
Problems (pg. 1.259)
Cases and Projects (pg. 1.265)
Solutions to Review Problems (pg. 1.266)
Chapter 6 Reporting and Analyzing Revenues, Receivables, and Operating Income (pg. 1.270)
Reporting Operating Income (pg. 1.272)
Revenue Recognition (pg. 1.274)
Revenue Recognition Subsequent to Customer Purchase (pg. 1.276)
Mid-Chapter Review 1 (pg. 1.279)
Mid-Chapter Review 2 (pg. 1.283)
Reporting Accounts Receivable (pg. 1.283)
Determining the Allowance for Uncollectible Accounts (pg. 1.284)
Reporting the Allowance for Uncollectible Accounts (pg. 1.285)
Recording Write-offs of Uncollectible Accounts (pg. 1.286)
Footnote Disclosures and Interpretations (pg. 1.288)
Mid-Chapter Review 3 (pg. 1.291)
Analyzing Financial Statements (pg. 1.291)
Net Operating Profit After Taxes (NOPAT) (pg. 1.292)
Analysis Objective (pg. 1.292)
Analysis Objective (pg. 1.294)
Earnings Management (pg. 1.296)
Chapter-End Review (pg. 1.298)
Appendix 6A: Reporting Nonrecurring Items (pg. 1.298)
Discontinued Operations (pg. 1.299)
Exit or Disposal Costs (pg. 1.299)
Appendix 6A Review (pg. 1.301)
Summary (pg. 1.301)
Guidance Answers . . . You Make the Call (pg. 1.302)
Key Ratios (pg. 1.302)
Key Terms (pg. 1.303)
Multiple Choice (pg. 1.303)
Questions (pg. 1.304)
Mini Exercises (pg. 1.304)
Exercises (pg. 1.308)
Problems (pg. 1.314)
Cases and Projects (pg. 1.317)
Solutions to Review Problems (pg. 1.321)
Chapter 7 Reporting and Analyzing Inventory (pg. 1.326)
Reporting Operating Expenses (pg. 1.328)
Expense Recognition Principles (pg. 1.328)
Reporting Inventory Costs in the Financial Statements (pg. 1.329)
Recording Inventory Costs in the Financial Statements (pg. 1.330)
Inventory and the Cost of Acquisition (pg. 1.331)
Inventory Reporting by Manufacturing Firms (pg. 1.331)
Inventory Costing Methods (pg. 1.332)
Illustration (pg. 1.333)
First-In, First-Out (FIFO) (pg. 1.333)
Last-In, First-Out (LIFO) (pg. 1.334)
Inventory Costing and Price Changes (pg. 1.336)
Average Cost (AC) (pg. 1.336)
Lower of Cost or Net Realizable Value (pg. 1.337)
Mid-Chapter Review (pg. 1.339)
Financial Statement Effects and Disclosure (pg. 1.340)
Financial Statement Effects of Inventory Costing (pg. 1.341)
Analyzing Financial Statements (pg. 1.345)
Analysis Objective (pg. 1.345)
Analysis Objective (pg. 1.347)
Chapter-End Review (pg. 1.350)
Appendix 7A: LIFO Liquidation (pg. 1.351)
Analysis Implications (pg. 1.352)
Appendix 7A Review (pg. 1.352)
Summary (pg. 1.353)
Guidance Answers . . . You Make the Call (pg. 1.354)
Key Ratios (pg. 1.354)
Key Terms (pg. 1.354)
Multiple Choice (pg. 1.355)
Questions (pg. 1.356)
Mini Exercises (pg. 1.356)
Exercises (pg. 1.359)
Problems (pg. 1.362)
Cases and Projects (pg. 1.365)
Solutions to Review Problems (pg. 1.366)
Chapter 8 Reporting and Analyzing Long-Term Operating Assets (pg. 1.372)
Introduction (pg. 1.374)
Property, Plant, and Equipment (PPE) (pg. 1.374)
Determining Costs to Capitalize (pg. 1.375)
Depreciation (pg. 1.376)
Depreciation Methods (pg. 1.377)
Changes in Accounting Estimates (pg. 1.380)
Asset Sales and Impairments (pg. 1.381)
Footnote Disclosure (pg. 1.383)
Analyzing Financial Statements (pg. 1.384)
Analysis Objective (pg. 1.384)
Analysis Objective (pg. 1.385)
Cash Flow Effects (pg. 1.387)
Mid-Chapter Review (pg. 1.387)
Intangible Assets (pg. 1.388)
Research and Development Costs (pg. 1.388)
Patents (pg. 1.389)
Trademarks (pg. 1.389)
Franchise Rights (pg. 1.390)
Amortization and Impairment of Identifiable Intangible Assets (pg. 1.390)
Goodwill (pg. 1.392)
Footnote Disclosures (pg. 1.392)
Analysis Implications (pg. 1.393)
Chapter-End Review (pg. 1.394)
Summary (pg. 1.394)
Guidance Answers . . . You Make the Call (pg. 1.395)
Key Ratios (pg. 1.395)
Key Terms (pg. 1.395)
Multiple Choice (pg. 1.396)
Questions (pg. 1.396)
Mini Exercises (pg. 1.397)
Exercises (pg. 1.399)
Problems (pg. 1.402)
Cases and Projects (pg. 1.405)
Solutions to Review Problems (pg. 1.407)
Chapter 9 Reporting and Analyzing Liabilities (pg. 1.412)
Introduction (pg. 1.414)
Current Liabilities (pg. 1.415)
Accounts Payable (pg. 1.415)
Mid-Chapter Review 1 (pg. 1.417)
Accrued Liabilities (pg. 1.417)
Other Current Liabilities (pg. 1.421)
Mid-Chapter Review 2 (pg. 1.422)
Current Nonoperating (Financial) Liabilities (pg. 1.422)
Mid-Chapter Review 3 (pg. 1.424)
Long-Term Liabilities (pg. 1.424)
Installment Loans (pg. 1.425)
Bonds (pg. 1.427)
Pricing of Bonds (pg. 1.427)
Effective Cost of Debt (pg. 1.429)
Reporting of Bond Financing (pg. 1.430)
Effects of Discount and Premium Amortization (pg. 1.432)
The Fair Value Option (pg. 1.434)
Effects of Bond Repurchase (pg. 1.435)
Financial Statement Footnotes (pg. 1.436)
Interest and the Statement of Cash Flows (pg. 1.437)
Disclosure of Commitments and Contingencies (pg. 1.438)
Analyzing Financial Statements (pg. 1.438)
Analysis Objective (pg. 1.439)
Debt Ratings and the Cost of Debt (pg. 1.441)
Chapter-End Review (pg. 1.443)
Summary (pg. 1.443)
Guidance Answers . . . You Make the Call (pg. 1.444)
Key Ratios (pg. 1.444)
Key Terms (pg. 1.444)
Multiple Choice (pg. 1.445)
Questions (pg. 1.445)
Mini Exercises (pg. 1.446)
Exercises (pg. 1.449)
Problems (pg. 1.452)
Cases and Projects (pg. 1.456)
Solutions to Review Problems (pg. 1.458)
Chapter 11 Reporting and Analyzing Stockholders’ Equity (pg. 1.528)
Introduction (pg. 1.530)
Contributed Capital (pg. 1.531)
Classes of Stock (pg. 1.531)
Accounting for Stock Transactions (pg. 1.533)
Mid-Chapter Review 1 (pg. 1.538)
Earned Capital (pg. 1.538)
Cash Dividends (pg. 1.538)
Mid-Chapter Review 2 (pg. 1.540)
Stock Dividends and Splits (pg. 1.540)
Stock Transactions and the Cash Flows Statement (pg. 1.542)
Mid-Chapter Review 3 (pg. 1.543)
Comprehensive Income (pg. 1.543)
Summary of Stockholders’ Equity (pg. 1.544)
Analyzing Financial Statements (pg. 1.544)
Analysis Objective (pg. 1.544)
Mid-Chapter Review 4 (pg. 1.546)
Earnings Per Share (pg. 1.546)
Computation and Analysis of EPS (pg. 1.547)
Chapter-End Review (pg. 1.549)
Appendix 11A: Dilutive Securities: Accounting for convertible securities, stock options, and restr (pg. 1.549)
Convertible Securities (pg. 1.549)
Stock Rights (pg. 1.550)
Employee Stock Options (pg. 1.551)
Restricted Stock (pg. 1.552)
Appendix 11A Review (pg. 1.555)
Summary (pg. 1.555)
Guidance Answers . . . You Make the Call (pg. 1.556)
Key Ratios (pg. 1.556)
Key Terms (pg. 1.557)
Multiple Choice (pg. 1.557)
Questions (pg. 1.558)
Exercises (pg. 1.563)
Problems (pg. 1.568)
Cases and Projects (pg. 1.572)
Solutions to Review Problems (pg. 1.576)
Chapter 13 Managerial Accounting: Tools for Decision Making (pg. 1.638)
Uses of Accounting Information (pg. 1.640)
Financial Accounting (pg. 1.640)
Managerial Accounting (pg. 1.641)
Mid-Chapter Review 1 (pg. 1.643)
Strategic Cost Management (pg. 1.643)
Mid-Chapter Review 2 (pg. 1.644)
Missions, Goals, and Strategies (pg. 1.644)
An Organization’s Mission and Goals (pg. 1.644)
Strategic Position Analysis (pg. 1.645)
Managerial Accounting and Goal Attainment (pg. 1.647)
Planning, Organizing, and Controlling (pg. 1.648)
Mid-Chapter Review 3 (pg. 1.649)
Changing Environment of Business (pg. 1.649)
Global Competition and Its Key Dimensions (pg. 1.649)
Big Data and Analysis (pg. 1.650)
Robotics and Cognitive Technologies (pg. 1.650)
Enterprise Risk Management (ERM) (pg. 1.651)
Mid-Chapter Review 4 (pg. 1.651)
Ethics in Managerial Accounting (pg. 1.651)
Codes of Ethics (pg. 1.652)
Corporate Governance (pg. 1.653)
Sustainability Accounting and Corporate Social Responsibility (pg. 1.654)
Mid-Chapter Review 5 (pg. 1.654)
Cost Drivers (pg. 1.655)
Structural Cost Drivers (pg. 1.655)
Organizational Cost Drivers (pg. 1.656)
Activity Cost Drivers (pg. 1.657)
Chapter-End Review (pg. 1.658)
Guidance Answers . . . You Make the Call (pg. 1.658)
Key Terms (pg. 1.658)
Multiple Choice (pg. 1.659)
Questions (pg. 1.659)
Mini Exercises (pg. 1.660)
Exercises (pg. 1.662)
Cases and Projects (pg. 1.663)
Solutions to Review Problems (pg. 1.665)
Chapter 14 Cost Behavior, Activity Analysis, and Cost Estimation (pg. 1.668)
Cost Behavior Analysis (pg. 1.670)
Four Basic Cost Behavior Patterns (pg. 1.670)
Factors Affecting Cost Behavior Patterns (pg. 1.672)
Mid-Chapter Review 1 (pg. 1.673)
Total Cost Function for an Organization or Segment (pg. 1.673)
Relevant Range (pg. 1.674)
Additional Cost Behavior Patterns (pg. 1.676)
Committed and Discretionary Fixed Costs (pg. 1.678)
Mid-Chapter Review 2 (pg. 1.678)
Cost Estimation (pg. 1.679)
High-Low Cost Estimation (pg. 1.679)
Scatter Diagrams (pg. 1.681)
Least-Squares Regression (pg. 1.681)
Mid-Chapter Review 3 (pg. 1.684)
Additional Issues in Cost Estimation (pg. 1.684)
Changes in Technology and Prices (pg. 1.684)
Matching Activity and Costs (pg. 1.685)
Identifying Activity Cost Drivers (pg. 1.685)
Mid-Chapter Review 4 (pg. 1.685)
Alternative Cost Driver Classifications (pg. 1.685)
Manufacturing Cost Hierarchy (pg. 1.686)
Customer Cost Hierarchy (pg. 1.687)
Chapter-End Review (pg. 1.688)
Guidance Answers . . . You Make the Call (pg. 1.689)
KEY RATIOS (pg. 1.689)
Key Terms (pg. 1.690)
Multiple Choice (pg. 1.690)
Questions (pg. 1.691)
Mini Exercises (pg. 1.692)
Exercises (pg. 1.694)
Problems (pg. 1.697)
Cases and Projects (pg. 1.699)
Solutions to Review Problems (pg. 1.702)
Chapter 15 Cost-Volume-Profit Analysis and Planning (pg. 1.704)
Cost-Volume-Profit Analysis (pg. 1.706)
Key Assumptions (pg. 1.707)
Profit Formula (pg. 1.708)
Mid-Chapter Review 1 (pg. 1.710)
Contribution and Functional Income Statements (pg. 1.710)
Contribution Income Statement (pg. 1.710)
Functional Income Statement (pg. 1.711)
Analysis Using Contribution Margin Ratio (pg. 1.711)
Mid-Chapter Review 2 (pg. 1.712)
Break-Even Point and Profit Planning (pg. 1.712)
Determining Break-Even Point in Units (pg. 1.712)
Profit Planning (pg. 1.714)
Cost-Volume-Profit Graph (pg. 1.715)
Profit-Volume Graph (pg. 1.716)
Impact of Income Taxes (pg. 1.716)
Mid-Chapter Review 3 (pg. 1.718)
Multiple-Product Cost-Volume-Profit Analysis (pg. 1.718)
Determining Break-Even and Target Profit Sales Dollars (pg. 1.718)
Sales Mix Analysis (pg. 1.720)
Mid-Chapter Review 4 (pg. 1.722)
Analysis of Operating Leverage (pg. 1.722)
Chapter-End Review (pg. 1.724)
Appendix 15A: Profitability Analysis with Unit and Nonunit Cost Drivers (pg. 1.724)
Multi-Level Contribution Income Statement (pg. 1.724)
Variations in Multi-Level Contribution Income Statement (pg. 1.726)
Appendix 15A Review (pg. 1.727)
Guidance Answers . . . You Make the Call (pg. 1.727)
Key Ratios (pg. 1.728)
Key Terms (pg. 1.728)
Multiple Choice (pg. 1.728)
Questions (pg. 1.730)
Mini Exercises (pg. 1.730)
Exercises (pg. 1.732)
Problems (pg. 1.736)
Cases and Projects (pg. 1.740)
Solutions to Review Problems (pg. 1.742)
Chapter 16 Relevant Costs and Benefits for Decision Making (pg. 1.746)
Identifying Relevant Costs (pg. 1.748)
Relevance of Future Revenues (pg. 1.749)
Relevance of Outlay Costs (pg. 1.749)
Irrelevance of Sunk Costs (pg. 1.750)
Sunk Costs Can Cause Ethical Dilemmas (pg. 1.750)
Relevance of Disposal and Salvage Values (pg. 1.751)
Relevance of Opportunity Costs (pg. 1.751)
Mid-Chapter Review 1 (pg. 1.752)
Differential Analysis of Relevant Costs (pg. 1.752)
Mid-Chapter Review 2 (pg. 1.753)
Applying Differential Analysis (pg. 1.753)
Multiple Changes in Profit Plans (pg. 1.754)
Mid-Chapter Review 3 (pg. 1.755)
Special Orders (pg. 1.755)
Mid-Chapter Review 4 (pg. 1.758)
Outsourcing Decisions (Make or Buy) (pg. 1.758)
Mid-Chapter Review 5 (pg. 1.762)
Sell or Process Further (pg. 1.762)
Mid-Chapter Review 6 (pg. 1.764)
Use of Limited Resources (pg. 1.764)
Single Constraint (pg. 1.764)
Multiple Constraints (pg. 1.765)
Theory of Constraints (pg. 1.766)
Limitations of Decision Analysis Models (pg. 1.767)
Chapter-End Review (pg. 1.767)
Guidance Answers . . . You Make the Call (pg. 1.767)
Key Terms (pg. 1.768)
Multiple Choice (pg. 1.768)
Questions (pg. 1.769)
Mini Exercises (pg. 1.769)
Exercises (pg. 1.772)
Problems (pg. 1.776)
Cases and Projects (pg. 1.780)
Solutions to Review Problems (pg. 1.783)
Chapter 17 Product Costing: Job and Process Operations (pg. 1.788)
Inventory Costs in Various Organizations (pg. 1.790)
Mid-Chapter Review 1 (pg. 1.791)
Inventory Costs for Financial Reporting (pg. 1.792)
Product Costs and Period Costs (pg. 1.792)
Three Components of Product Costs (pg. 1.792)
A Closer Look at Manufacturing Overhead (pg. 1.794)
Mid-Chapter Review 2 (pg. 1.796)
The Production Environment (pg. 1.796)
Production Files and Records (pg. 1.797)
Mid-Chapter Review 3 (pg. 1.798)
Job Costing for Products and Services (pg. 1.798)
Job Costing Illustrated (pg. 1.799)
Statement of Cost of Goods Manufactured (pg. 1.804)
Overapplied and Underapplied Overhead (pg. 1.805)
Job Costing in Service Organizations (pg. 1.806)
Mid-Chapter Review 4 (pg. 1.807)
Process Costing (pg. 1.808)
Cost of Production Report (pg. 1.809)
Weighted Average and First-In, First-Out Process Costing (pg. 1.812)
Process Costing in Service Organizations (pg. 1.812)
Chapter-End Review (pg. 1.813)
Appendix 17A: Absorption and Variable Costing (pg. 1.814)
Basic Concepts (pg. 1.814)
Inventory Valuations (pg. 1.814)
Income Under Absorption and Variable Costing (pg. 1.815)
Production Equals Sales (pg. 1.815)
Production Exceeds Sales (pg. 1.815)
Sales Exceed Production (pg. 1.817)
Evaluating Alternatives to Inventory Valuation (pg. 1.818)
Appendix 17A Review (pg. 1.818)
Guidance Answers . . . You Make the Call (pg. 1.819)
Key Ratios (pg. 1.819)
Key Terms (pg. 1.819)
Multiple Choice (pg. 1.820)
Questions (pg. 1.821)
Mini Exercises (pg. 1.822)
Exercises (pg. 1.823)
Problems (pg. 1.828)
Cases and Projects (pg. 1.834)
Solutions to Review Problems (pg. 1.836)
Chapter 18 Activity-Based Costing, Customer Profitability, and Activity-Based Management (pg. 1.842)
Activity-Based Costing (ABC) (pg. 1.844)
Changing Cost Environment (pg. 1.844)
Mid-Chapter Review 1 (pg. 1.845)
Activity-Based Costing Concepts (pg. 1.845)
ABC Product Costing Model (pg. 1.846)
Mid-Chapter Review 2 (pg. 1.847)
Traditional Product Costing and ABC Compared (pg. 1.848)
Applying Overhead with a Plantwide Rate (pg. 1.848)
Applying Overhead with Department Rates (pg. 1.848)
Applying Overhead with Activity-Based Costing (pg. 1.850)
Mid-Chapter Review 3 (pg. 1.853)
Implementation of ABC (pg. 1.854)
Limitations of ABC Illustration (pg. 1.854)
Comparing Traditional and Activity-Based Costing (pg. 1.854)
ABC Implementation Issues (pg. 1.855)
Mid-Chapter Review 4 (pg. 1.856)
ABC and Customer Profitability Analysis (pg. 1.857)
Customer Profitability Profile (pg. 1.857)
ABC Customer Profitability Analysis Illustrated (pg. 1.857)
Mid-Chapter Review 5 (pg. 1.860)
Activity-Based Management (pg. 1.860)
The Difference Between ABC and Activity-Based Management (pg. 1.860)
Chapter-End Review (pg. 1.861)
Guidance Answers . . . You Make the Call (pg. 1.861)
Key Terms (pg. 1.862)
Multiple Choice (pg. 1.862)
Questions (pg. 1.863)
Mini Exercises (pg. 1.863)
Exercises (pg. 1.867)
Problems (pg. 1.870)
Cases and Projects (pg. 1.875)
Solutions to Review Problems (pg. 1.879)
Chapter 21 Operational Budgeting and Profit Planning (pg. 1.944)
Reasons for Budgeting (pg. 1.946)
Compel Planning (pg. 1.946)
Promote Communication and Coordination (pg. 1.946)
Provide a Guide to Action and Basis of Evaluation (pg. 1.947)
Aid in Risk Management (pg. 1.947)
Mid-Chapter Review 1 (pg. 1.948)
General Approaches to Budgeting (pg. 1.948)
Output/Input Approach (pg. 1.948)
Activity-Based Approach (pg. 1.948)
Incremental Approach (pg. 1.948)
Minimum Level Approach (pg. 1.949)
Mid-Chapter Review 2 (pg. 1.950)
Master Budget (pg. 1.950)
Sales Budget (pg. 1.953)
Purchases Budget (pg. 1.953)
Selling Expense Budget (pg. 1.954)
General and Administrative Expense Budget (pg. 1.954)
Cash Budget (pg. 1.955)
Budgeted Financial Statements (pg. 1.957)
Finalizing the Budget (pg. 1.958)
Mid-Chapter Review 3 (pg. 1.959)
Budget Development in Manufacturing Organizations (pg. 1.959)
Production Budget (pg. 1.960)
Manufacturing Cost Budget (pg. 1.960)
Mid-Chapter Review 4 (pg. 1.962)
Budget Development and Manager Behavior (pg. 1.963)
Employee Participation (pg. 1.963)
Budgeting Periods (pg. 1.964)
Forecasts (pg. 1.964)
Ethics (pg. 1.965)
Open Book Management (pg. 1.965)
Chapter-End Review (pg. 1.966)
Guidance Answers . . . You Make the Call (pg. 1.966)
Key Terms (pg. 1.967)
Multiple Choice (pg. 1.967)
Questions (pg. 1.968)
Mini Exercises (pg. 1.969)
Exercises (pg. 1.971)
Problems (pg. 1.975)
Cases and Projects (pg. 1.980)
Solutions to Review Problems (pg. 1.982)
Chapter 22 Standard Costs and Performance Reports (pg. 1.988)
Responsibility Accounting (pg. 1.990)
Performance Reporting and Organization Structures (pg. 1.991)
Types of Responsibility Centers (pg. 1.991)
Financial and Nonfinancial Performance Measures (pg. 1.993)
Mid-Chapter Review 1 (pg. 1.993)
Performance Reporting for Cost Centers (pg. 1.994)
Development of Flexible Budgets (pg. 1.994)
Flexible Budgets Emphasize Performance (pg. 1.995)
Standard Costs and Performance Reports (pg. 1.995)
Mid-Chapter Review 2 (pg. 1.996)
Variance Analysis for Costs (pg. 1.996)
Components of Standard Cost Analysis (pg. 1.996)
Establishing and Using Standards for Direct Materials (pg. 1.998)
Mid-Chapter Review 3 (pg. 1.1000)
Establishing and Using Standards for Direct Labor (pg. 1.1000)
Mid-Chapter Review 4 (pg. 1.1002)
Establishing and Using Standards for Variable Overhead (pg. 1.1002)
Fixed Overhead Variances (pg. 1.1004)
Mid-Chapter Review 5 (pg. 1.1005)
Performance Reports for Revenue Centers (pg. 1.1005)
Inclusion of Controllable Costs (pg. 1.1007)
Revenue Centers as Profit Centers (pg. 1.1007)
Chapter-End Review (pg. 1.1008)
Appendix 22A: Fixed Overhead Variances (pg. 1.1009)
APPENDIX 22A Review (pg. 1.1010)
Appendix 22B: Reconciling Budgeted and Actual Income (pg. 1.1011)
APPENDIX 22B Review (pg. 1.1012)
Guidance Answers . . . You Make the Call (pg. 1.1012)
KEY RATIOS (pg. 1.1012)
Key Terms (pg. 1.1013)
Multiple Choice (pg. 1.1013)
Questions (pg. 1.1014)
Mini Exercises (pg. 1.1015)
Exercises (pg. 1.1017)
Problems (pg. 1.1018)
Cases and Projects (pg. 1.1024)
Solutions to Review Problems (pg. 1.1027)
Chapter 24 Capital Budgeting Decisions (pg. 1.1072)
Long-Range Planning and Capital Budgeting (pg. 1.1075)
Mid-Chapter Review 1 (pg. 1.1078)
Capital Budgeting Models That Consider Time Value of Money (pg. 1.1078)
Expected Cash Flows (pg. 1.1078)
Manager Behavior and Expected Cash Flows (pg. 1.1079)
Net Present Value (pg. 1.1079)
Internal Rate of Return (pg. 1.1081)
Cost of Capital (pg. 1.1082)
Mid-Chapter Review 2 (pg. 1.1082)
Capital Budgeting Models That Do Not Consider Time Value of Money (pg. 1.1083)
Payback Period (pg. 1.1084)
Accounting Rate of Return (pg. 1.1084)
Mid-Chapter Review 3 (pg. 1.1085)
Evaluation of Capital Budgeting Models (pg. 1.1085)
Mid-Chapter Review 4 (pg. 1.1087)
Additional Aspects of Capital Budgeting (pg. 1.1088)
Using Multiple Investment Criteria (pg. 1.1088)
Evaluating Risk (pg. 1.1088)
Differential Analysis of Project Cash Flows (pg. 1.1089)
Predicting Differential Costs and Revenues for High-Tech Investments (pg. 1.1090)
Mid-Chapter Review 5 (pg. 1.1092)
Taxes in Capital Budgeting Decisions (pg. 1.1092)
Depreciation Tax Shield (pg. 1.1092)
Investment Tax Credit (pg. 1.1094)
Chapter-END Review (pg. 1.1095)
Appendix 24A: Time Value of Money (pg. 1.1095)
Future Value (pg. 1.1095)
Present Value (pg. 1.1096)
Annuities (pg. 1.1097)
Unequal Cash Flows (pg. 1.1099)
Deferred Returns (pg. 1.1099)
Appendix 24A Review (pg. 1.1100)
Appendix 24B: Table Approach to Determining Internal Rate of Return (pg. 1.1100)
Equal Cash Inflows (pg. 1.1100)
Unequal Cash Inflows (pg. 1.1101)
Appendix 24B Review (pg. 1.1102)
Guidance Answers . . . You Make the Call (pg. 1.1102)
Key Ratios (pg. 1.1102)
Key Terms (pg. 1.1103)
Multiple Choice (pg. 1.1103)
Questions (pg. 1.1104)
Mini Exercises (pg. 1.1105)
Exercises (pg. 1.1106)
Problems (pg. 1.1108)
Cases and Projects (pg. 1.1111)
Solutions to Review Problems (pg. 1.1115)
Michelle L. Hanlon

Michelle L. Hanlon

Michelle L. Hanlon is the Howard W. Johnson Professor at the MIT Sloan School of Management. She earned her doctorate at the University of Washington.

Prior to joining MIT, she was a faculty member at the University of Michigan. Professor Hanlon has taught financial accounting to undergraduates, MBA students, executive MBA students, and Masters of Finance students. Professor Hanlon also teaches Taxes and Business Strategy to MBA students. She is the winner of the 2013 Jamieson Prize for Excellence in Teaching at MIT Sloan.

Professor Hanlon’s research focuses primarily on the intersection of taxation and financial accounting. Her recent work examines the capital market effects of the accounting for income tax, the reputational effects of corporate tax avoidance, and the economic consequences of U.S. international tax policies for multinational corporations. She has published research studies in the Journal of Accounting and Economics, the Journal of Accounting Research, The Accounting Review, the Review of Accounting Studies, the Journal of Finance, the Journal of Financial Economics, the Journal of Public Economics, and others. She has won several awards for her research and has presented her work at numerous universities and conferences. Professor Hanlon has served on several editorial boards and currently serves as an editor at the Journal of Accounting and Economics. 

Professor Hanlon has testified in front of the U.S. Senate Committee on Finance and the U.S. House of Representatives Committee on Ways and Means about the interaction of financial accounting and tax policy. She served as a U.S. delegate to the American-Swiss Young Leaders Conference in 2010 and worked as an Academic Fellow at the U.S. House Ways and Means Committee in 2015.


Financial & Managerial Accounting for Decision Makers, 4e (Hanlon, Magee, Pfeiffer, Dyckman)
Errata
Last Updated: May 31 2023

Corrections to identified errors in the text.

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