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"Financial Accounting," 11th Edition, authored by Robert Libby, Patricia Libby, and Frank Hodge, offers a comprehensive introduction to financial accounting principles, emphasizing their application in business decision-making. Below is a chapter-wise overview of the key topics covered in the textbook:
Chapter 1: Financial Statements and Business Decisions
Introduction to the four primary financial statements: Income Statement, Balance Sheet, Statement of Stockholders' Equity, and Statement of Cash Flows.
Understanding the role of financial accounting in business and how financial statements inform decision-making.
Chapter 2: Investing and Financing Decisions and the Accounting System
Exploration of how businesses obtain and utilize financial resources.
Introduction to the accounting system and the recording of transactions.
Chapter 3: Operating Decisions and the Accounting System
Examination of day-to-day business operations and their financial implications.
Understanding revenue recognition and expense matching principles.
Chapter 4: Adjustments, Financial Statements, and the Closing Process
Discussion on the necessity of adjusting entries for accurate financial reporting.
Preparation of adjusted financial statements and the process of closing temporary accounts.
Chapter 5: Communicating and Analyzing Accounting Information
Insights into how companies communicate financial information to stakeholders.
Introduction to financial statement analysis techniques.
Chapter 6: Reporting and Interpreting Sales Revenue, Receivables, and Cash
Focus on revenue reporting and the management of receivables and cash.
Understanding the impact of credit sales and uncollectible accounts.
Chapter 7: Reporting and Interpreting Cost of Goods Sold and Inventory
Examination of inventory accounting methods and their effect on financial statements.
Discussion on cost of goods sold calculation and inventory valuation.
Chapter 8: Reporting and Interpreting Property, Plant, and Equipment; Intangibles; and Natural Resources
Understanding the accounting treatment for long-lived tangible and intangible assets.
Topics include asset acquisition, depreciation, amortization, and impairment.
Chapter 9: Reporting and Interpreting Liabilities
Overview of current and long-term liabilities.
Discussion on accounting for bonds, leases, and contingencies.
Chapter 10: Reporting and Interpreting Bond Securities
Detailed look at bond issuance, valuation, and amortization.
Understanding the impact of bonds on financial statements.
Chapter 11: Reporting and Interpreting Stockholders’ Equity
Exploration of equity financing, including common and preferred stock.
Topics on dividends, stock repurchases, and retained earnings.
Chapter 12: Statement of Cash Flows
Preparation and analysis of the statement of cash flows.
Understanding cash flows from operating, investing, and financing activities.
Chapter 13: Analyzing Financial Statements
Introduction to various tools and techniques for financial statement analysis.
Topics include ratio analysis, trend analysis, and benchmarking.
This structured approach equips readers with a solid foundation in financial accounting, emphasizing the relevance of accounting information in making informed business decisions. Get complete eBook Instant Download Link below https://scholarfriends.com/singlePaper/456299/ebookise-financial-accounting-11th-edition-by-robert-libbypatricia-libby-frank-hodge