An edition of Current Assets
(2013)
Current Assets
by Larry M. Walther , Christopher J. Skouse...
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Last edited by Tom Morris
May 5, 2020 | History
This book is the second of seven books which introduces the basic principles of accounting, focusing primarily on liquid assets.
You can download the book for free via the link below.
Publish Date
2013
Publisher
Bookboon
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Book Details
Table of Contents
Innhold
Part 1. Special Issues for Merchants
The Merchandising Operation - Sales
Sales
Sales Returns and Allowances
Trade Discounts
Credit Cards
Cash Discounts
Purchase Considerations for Merchandising Business
Merchandise Acquisition
Periodic Inventory System
Purchase Returns and Allowances
Cash Discount
Gross Recording of Purchases/Discounts
Net Recording of Purchases/Discounts Lost
Comparison of Gross vs. Net
Freight Charges
The Calculation of Net Purchases
Cost of Goods Sold
Detailed Income Statement for Merchandise Operation
Closing Entries
Alternative Inventory System
Income Statement Enhancements
Analysis of a Detailed Income Statement
The Control Structure
Internal Control in the Merchandising Environment
Internal Control and the Purchasing Cycle
Generalizing About Control
Part 2. Cash and Highly-Liquid Investments
Cash Composition
Cash Equivalents
Cash Management
Strategies to Enhance Cash Flows
Bank Reconciliation
Comprehensive Illustration of Bank Reconciliation
Proof of Cash
Petty Cash
Replenishment of Petty Cash
Cash Short and Over
Increasing the Base Fund
Trading Securities
An Illustration
Rationale for Fair Value Accounting
Alternative: A Valuation Adjustments Account
Dividend and Interest
Derivatives
Part 3. Accounts Receivable
The Costs and Benefits of Selling on Credit
Credit Sales
Credit Cards
Accounting for Uncollectible Receivables
Direct Write-off Method
Alternative Approaches for Uncollectible
Determining the Allowance Account
Writing off Uncollectible Accounts
Collection of an Account Previously Written off
Matching Achieved
Monitoring and Managing Accounts Receivable
Notes Receivable
Accounting for Notes Receivable
A Dishonored Note
Notes and Adjusting Entries
Part 4. Inventory
The Components of Inventory
Determining Which Goods to Include in Inventory
Inventory Costing Methods
Determining the Cost of Ending Inventory
Costing Methods
First-in, First-out Calculations
Last-in, First-out Calculations
Weighted-Average Calculations
Preliminary Recap and Comparison
Detailed Illustrations
FIFO
LIFO
Weighted-Average
Comparing Inventory Method
Specific Identification
Perpetual Inventory Systems
Perpetual FIFO
Journal Entries
Perpetual LIFO
Moving Average
Lower of Cost or Market Adjustments
Measuring Market Value
Application of the Lower-of-Cost-or-Market Rule
Inventory Estimation Techniques
Gross Profit Method
Retail Method
Inventory Management
Inventory Errors
ID Numbers
Links outside Open Library
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| May 5, 2020 | Edited by Tom Morris | merge authors |
| December 15, 2015 | Edited by Alice Kirk | Edited without comment. |
| December 15, 2015 | Created by Alice Kirk | Added new book. |