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Test Bank for Financial Accounting Tools For Business Decision Making 10th Edition by Paul D. Kimmel, All Chapters 1 -13, Complete ISBN: $20.49   Add to cart
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Test Bank for Financial Accounting Tools For Business Decision Making 10th Edition by Paul D. Kimmel, All Chapters 1 -13, Complete ISBN:

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Test Bank for Financial Accounting Tools For Business Decision Making 10th Edition by Paul D. Kimmel, All Chapters 1 -13, Complete ISBN: Test Bank for Financial Accounting Tools For Business Decision Making 10th Edition by Paul D. Kimmel, All Chapters 1 -13, Complete ISBN: Test Bank for Finan...

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  • October 11, 2024
  • 1900
  • 2024/2025
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TEST BANK
Financial Accounting Tools for Business Decision
Making, 10th Edition, Paul D. Kimmel,
All Chapters 1 – 13, Complete




Copyrighte©e2022eJohneWileye&eSons,eInc.e(ForeInstructoreUseeOnly
)

,Copyrighte©e2022eJohneWileye&eSons,eInc.e(ForeInstructoreUseeOnly
)

,TABLE OF CONTENTS E E




1 Introduction to Financial Statements
e e e e e




2 A Further Look at Financial Statements
e e e e e e e




3 The Accounting Information System
e e e e e




4 Accrual Accounting Concepts
e e e e




5 Merchandising Operations and the Multiple-Step Income Statement
e e e e e e e e




6 Reporting and Analyzing Inventory
e e e e e




7 Fraud, Internal Control, and Cash
e e e e e e




8 Reporting and Analyzing Receivables
e e e e e




9 Reporting and Analyzing Long-Lived Assets
e e e e e e




10 Reporting and Analyzing Liabilities
e e e e e




11 Reporting and Analyzing Stockholders’ Equity
e e e e e e




12 Statement of Cash Flows
e e e e e




13 Financial Analysis: The Big Picture
e e e e e e




Copyrighte©e2022eJohneWileye&eSons,eInc.e(ForeInstructoreUseeOnly
)

, CHAPTER 1 e




INTRODUCTION TO FINANCIAL STATEMENTS
e e e




CHAPTER LEARNING OBJECTIVES
e e




1. Identifyetheeformseofebusinesseorganizationeandetheeuseseofeaccountingeinformation.eAesoleeproprietor
shipeiseaebusinesseownedebyeoneeperson.eAepartnershipeiseaebusinesseownedebyetwoeoremoreepeopleeass
ociatedeasepartners.eAecorporationeiseaeseparateelegaleentityeforewhicheevidenceeofeownershipeiseprovid
edebyeshareseofestock.eInternaleuserseareemanagersewhoeneedeaccountingeinformationetoeplan,eorganize
,eanderunebusinesseoperations.eTheeprimaryeexternaleuserseareeinvestorseandecreditors.eInvestorse(stock
holders)euseeaccountingeinformationetoedecideewhetheretoebuy,ehold,eoreselleshareseofeaecompany‘sestoc
k.eCreditorse(supplierseandebankers)e useeaccountingeinformatione toe assessethee riske ofe grantinge crediteo
re loaninge moneyetoeaebusiness.eOtheregroupsewhoehaveeaneindirecteinteresteineaebusinesseareetaxingeaut
horities,ecustomers,elaboreunions,eande regulatoryeagencies.

2. Explainetheethreeeprincipaletypeseofebusinesseactivity.eFinancingeactivitiese involveecollectingetheeneces
saryefundsetoesupportetheebusiness.eInvestingeactivitieseinvolveeacquiringetheeresourcesenecessaryetoeru
netheebusiness.eOperatingeactivitieseinvolveeputtinge theeresourceseofe theebusinesseintoeactionetoegener
ateeaeprofit.
3. Describeetheefourefinancialestatementseandehowetheyeareeprepared.eAneincomeestatementepresentseth
eerevenueseandeexpenseseofeaecompanyeforeaespecificeperiodeofetime.eAeretainedeearningsestatementesu
mmarizesetheechangeseineretainedeearningsethatehaveeoccurredeforeaespecificeperiodeofetime.eAebalancee
sheetereportsetheeassets,eliabilities,eandestockholders‘eequityeofeaebusinesseateaespecificedate.eAestateme
nteofecasheflowse summarizese informationeconcerningetheecasheinflowse(receipts)eandeoutflowse(payme
nts)eforeaespecificeperiodeofetime.eAssetseareeresourceseownedebyeaebusiness.eLiabilitieseareetheedebtsean
deobligationseofetheebusiness.eLiabilitieserepresenteclaimseofecreditorseonetheeassetseofetheebusiness.eSto
ckholders‘eequityerepresentsetheeclaimseofeownerseonetheeassetseofetheebusiness.eStockholders‘eequityei
sesubdividedeintoetwoeparts:ecommonestockeanderetainedeearnings.eTheebasiceaccountingeequationeiseAs
setse=eLiabilitiese+eStockholders‘eEquity.eWithinetheeannualereport,etheemanagementediscussioneandeana
lysiseprovidesemanagement‘seinterpretationeofetheecompany‘seresultseandefinancialepositioneasewelleaseae
discussioneofeplanseforetheefuture.eNotesetoetheefinancialestatementseprovideeadditionaleexplanationeore
detailetoemakeetheefinancialestatementsemoreeinformative.eTheeauditor‘sereporteexpresseseaneopinionea
setoewhetheretheefinancialestatementsepresentefairlyetheecompany‘seresultseofeoperationseandefinancialep
osition.
*4.eExplainetheecareereopportunitieseineaccounting.eAccountingeoffersemanyedifferentejobseinefieldsesuchease
publiceandeprivateeaccounting,egovernmental,eandeforensiceaccounting.eAccountingeiseaepopularemajore
becauseethereeareemanyedifferentetypeseofejobs,ewitheunlimitedepotentialeforecareereadvancement




Copyrighte©e2022eJohneWileye&eSons,eInc.e(ForeInstructoreUseeOnly
)

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