Custom FIN 504 Financial Statements (University of Illinois)

by Simko

ISBN: 0000000000 | Copyright 2020

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Financial Accounting for Executives & MBAs, 5e (pg. 1.2)
Chapter 1 The Economic Environment of Accounting Information (pg. 1.2)
Financial Accounting and Its Relevance (pg. 1.4)
Why Accounting Information Is Important (pg. 1.5)
Financial Accounting: What Is It? (pg. 1.6)
Review Problem 1.1 (pg. 1.7)
Financial Statements (pg. 1.7)
Review Problem 1.2 (pg. 1.13)
Qualitative Attributes of Accounting Information (pg. 1.13)
Amazon’s Accounting Methods and the Role of the Independent Auditor (pg. 1.14)
Generally Accepted Accounting Principles (pg. 1.16)
Role of Financial Accounting in Investment Decisions: An Overview (pg. 1.19)
Review Problem 1.3 (pg. 1.21)
Changing Economic Landscape (pg. 1.21)
Data Analytics and Technological Enhancements (pg. 1.22)
Seven Accounting Myths (pg. 1.23)
Review Problem 1.4 (pg. 1.24)
Executive Summary (pg. 1.24)
Key Concepts and Terms (pg. 1.25)
Appendix 1A: Agency Costs and the Separation of Management and Capital Providers (pg. 1.25)
Conflicts Between Managers and Shareholders (pg. 1.26)
Conflicts Between Debtholders and Shareholders (pg. 1.27)
Appendix 1B: Generally Accepted Accounting Principles: Purpose, Concepts, and Elements (pg. 1.27)
Questions (pg. 1.28)
Exercises (pg. 1.31)
Problems (pg. 1.32)
Corporate Analysis (pg. 1.36)
Solutions to Review Problems (pg. 1.37)
Chapter 2 From Business Events to Financial Statements (pg. 1.38)
Balance Sheet Equation (pg. 1.40)
Defining Some Accounting Terms (pg. 1.43)
Review Problem 2.1 (pg. 1.43)
Preparing Financial Statements from Business Events (pg. 1.43)
Recording Transactions. (pg. 1.43)
The Russian River Valley Winery (pg. 1.45)
Projected Business Events (pg. 1.47)
Review Problem 2.2 (pg. 1.57)
Preparing the Financial Statements (pg. 1.57)
Articulation of the Financial Statements (pg. 1.61)
Accounting Policy Decisions at Russian River Valley Winery (pg. 1.62)
Review Problem 2.3 (pg. 1.63)
Evaluating Business Performance and Making Financial Decisions (pg. 1.63)
Evaluating Firm Profitability (pg. 1.64)
Return on Equity Analysis (pg. 1.65)
Evaluating Financial Risk (pg. 1.67)
Review Problem 2.4 (pg. 1.67)
Managerial Discretion and Accounting Methods (pg. 1.68)
Operating Revenues at B.J.’s Wholesale Club (pg. 1.68)
Operating Expenses at (pg. 1.69)
Executive Summary (pg. 1.70)
Key Concepts and Terms (pg. 1.71)
Questions (pg. 1.71)
Exercises (pg. 1.72)
Problems (pg. 1.74)
Corporate Analysis (pg. 1.80)
Solutions to Review ProblemS (pg. 1.81)
Chapter 3 Measuring Performance: Cash Flow and Net Income (pg. 1.84)
Analyzing and Computing Cash Flow Information (pg. 1.86)
Statement of Cash Flow (pg. 1.86)
Presenting Cash Flow Information (pg. 1.87)
Review Problem 3.1 (pg. 1.89)
Computing Cash Flow Under the Indirect Method (pg. 1.89)
The following balance sheet and income statement data were tak (pg. 1.96)
Analysis of the Statement of Cash Flow (pg. 1.96)
Cash Flow Ratios (pg. 1.99)
Review Problem 3.3 (pg. 1.100)
Alternative Measures of Cash Flow (pg. 1.100)
Review Problem 3.4 (pg. 1.102)
Identifying and Understanding Sustainable Earnings (pg. 1.103)
Special Items and Extraordinary Items (pg. 1.104)
Discontinued Operations (pg. 1.106)
Earnings per Share (pg. 1.106)
Review Problem 3.5 (pg. 1.108)
Pro Forma Earnings (pg. 1.108)
Executive Summary (pg. 1.110)
Key Concepts and Terms (pg. 1.111)
Appendix 3A: Converting Indirect Method Cash Flows to Direct Method Cash Flows (pg. 1.111)
Review Problem 3.6 (pg. 1.113)
Questions (pg. 1.113)
Exercises (pg. 1.115)
Problems (pg. 1.118)
Corporate Analysis (pg. 1.124)
Case (pg. 1.125)
Solutions to Review Problems (pg. 1.127)
Chapter 4 Using Financial Statements for Investing and Credit Decisions (pg. 1.130)
Analyzing Financial Performance (pg. 1.132)
Fundamentals of Financial Statement Analysis (pg. 1.132)
Percentage Change and Common-Size Financial Statements (pg. 1.136)
Review Problem 4.1 (pg. 1.138)
Financial Ratios (pg. 1.139)
Review Problem 4.2 (pg. 1.143)
Credit Risk Analysis (pg. 1.144)
Benchmarking: Comparisons with Similar Companies (pg. 1.144)
ROE Model Framework (pg. 1.146)
Estimating Sustainable Growth (pg. 1.147)
Review Problem 4.3 (pg. 1.148)
Limitations of Financial Statement Analysis (pg. 1.149)
Executive Summary (pg. 1.150)
Key Concepts and Terms (pg. 1.150)
Appendix 4A: Unlevering Financial Ratios (pg. 1.151)
Review Problem 4.4 (pg. 1.152)
Appendix 4B: Pro Forma Financial Statements (pg. 1.152)
Appendix 4C: Calculating the Cost of Equity Financing (pg. 1.153)
Review Problem 4.5 (pg. 1.154)
Questions (pg. 1.155)
Exercises (pg. 1.156)
Problems (pg. 1.160)
Corporate Analysis (pg. 1.167)
Case (pg. 1.168)
Solutions to Review Problems (pg. 1.175)
Chapter 5 Operating Cycle, Revenue Recognition, and Receivable Valuation (pg. 1.178)
Operating Cycle of a Business (pg. 1.180)
Fundamentals of Revenue Recognition (pg. 1.181)
Revenue Recognition Guidance: ASC 606 (pg. 1.182)
Revenue Recognition by Retail and Service Companies (pg. 1.184)
Review Problem 5.1 (pg. 1.185)
Revenue Recognition by Manufacturing Companies (pg. 1.185)
Review Problem 5.2 (pg. 1.190)
Valuing and Reporting Accounts Receivable (pg. 1.190)
Percentage-of-Credit-Sales Method (pg. 1.191)
Aging Method (pg. 1.193)
Review Problem 5.3 (pg. 1.197)
Managing a Company’s Investment in Receivables (pg. 1.198)
Sales Discounts (pg. 1.198)
Sales Returns (pg. 1.200)
Review Problem 5.4 (pg. 1.200)
Monetizing Accounts Receivable to Manage Operating Cash Flow (pg. 1.200)
Factoring (pg. 1.200)
Pledging (pg. 1.201)
Securitization (pg. 1.201)
Review Problem 5.5 (pg. 1.202)
Analyzing Operating Revenue and Receivables (pg. 1.202)
Revenue Recognition Policy (pg. 1.202)
Receivable Valuation Policy (pg. 1.203)
Review Problem 5.6 (pg. 1.204)
Executive Summary (pg. 1.205)
Key Concepts and Terms (pg. 1.205)
Appendix 5A: Revenue Recognition under ASC 606: Further Discussion (pg. 1.206)
A Five-Step Process (pg. 1.206)
Review Problem 5.7 (pg. 1.207)
Questions (pg. 1.208)
Exercises (pg. 1.209)
Problems (pg. 1.211)
Corporate Analysis (pg. 1.214)
Case (pg. 1.216)
Solutions to Review Problems (pg. 1.218)
Chapter 6 Operating Expenses, Inventory Valuation, and Accounts Payable (pg. 1.222)
Operating Cycle of a manufacturer (pg. 1.224)
Measuring Cost of Goods Sold and Ending Inventory (pg. 1.225)
Case Illustration: How Much is Earnings? (pg. 1.226)
Inventory Management Systems (pg. 1.227)
The Inventory Count (pg. 1.228)
Review Problem 6.1 (pg. 1.229)
Valuing Inventory Using FIFO, LIFO, and Weighted-average-A Closer Look (pg. 1.230)
Choosing an Inventory Method (pg. 1.233)
Review Problem 6.2 (pg. 1.234)
Lower of Cost or Net Realizable Value (pg. 1.235)
Review Problem 6.3 (pg. 1.236)
Inventory Accounting Under International Financial Reporting Standards (pg. 1.236)
LIFO Layers and the LIFO Inventory Reserve (pg. 1.237)
Liquidating LIFO Layers (pg. 1.240)
Review Problem 6.4 (pg. 1.241)
Managing a Company’s Investment in Inventories (pg. 1.242)
Accounts Payable and a company’s Operating Cycle (pg. 1.242)
Review Problem 6.5 (pg. 1.243)
Analyzing Inventory and Cost of Goods Sold (pg. 1.245)
Executive Summary (pg. 1.246)
Key Concepts and Terms (pg. 1.247)
Questions (pg. 1.247)
Exercises (pg. 1.248)
Problems (pg. 1.251)
Corporate Analysis (pg. 1.256)
Case (pg. 1.257)
Solutions to Review Problems (pg. 1.260)
Paul J. Simko

Paul J. Simko

Paul J. Simko is Associate Dean of the MBA for Executives Program and Associate Professor of Business at the University of Virginia's Darden School.

He received Bachelor of Science and Master in Accountancy degrees from the University of Florida, and a Ph.D. from the University of Texas at Austin. Professor Simko was previously on the faculty at Emory University, and has served as a Visiting Professor at Indiana, INSEAD, the Helsinki School of Economics, and the Indian School of Business. He was a Senior Analyst with Citicorp and is a Certified Public Accountant, and he remains a frequent consultant to government agencies and public and private corporations. Professor Simko has received numerous recognitions for his research and teaching. His research has appeared in such journals as The Accounting Review, Journal of Accounting Research, Financial Analysts Journal, and the Stanford Journal of Law, Business and Finance.

Financial Accounting for Executives & MBAs, 5e (Simko, Wallace, Comprix)
Last Updated: Sep 8 2021

Corrections to identified errors in the text

Check Figures
Last Updated: Oct 27 2020

Check Figures for noted end-of-chapter Exercises and Problems.

Data Analytics Files
Last Updated: Oct 30 2020

Data Analytics files, including inventory list of DA questions. Related videos will be available soon!

Practice Quizzes w/Solutions
Last Updated: Oct 27 2020

Brief practice quizzes containing multiple choice questions for each chapter. Includes solutions.

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