Accounting and Finance for Lawyers in a Nutshell, 5th by Meyer, Charles -- Read -- Imperial Library of Trantor

Index

Cover Page Title Page Copyright Page Dedication Foreword to the Fifth Edition OUTLINE Chapter 1. The Basic Financial Statements

A. The Balance Sheet

1. Assets 2. Liabilities 3. Owners’ Equity 4. The Balance Sheet Equation 5. Balance Sheet Format

B. The Income Statement

1. Revenues and Gains 2. Expenses and Losses 3. Format of the Income Statement

C. The Statement of Owners’ Equity D. Statement of Cash Flows E. Additional Information

1. Footnotes 2. Supplemental Disclosures 3. Management’s Discussion and Analysis 4. Audit Report

Chapter 2. The Accounting Process

A. Source Documents B. Journal Entries C. Ledgers and Posting D. Adjusting Entries

1. Accrued Revenues and Expenses 2. Deferred Revenues and Expenses 3. Depreciation Expense 4. Recognizing Cost of Goods Sold

E. Revenue and Expense Accounts F. Closing the Books G. Preparation of Financial Statements

Chapter 3. Generally Accepted Accounting Principles

A. Sources of GAAP

1. Pre-Codification Official Pronouncements of the FASB and Its Predecessors 2. Other Sources of GAAP

B. Governmental Regulation of Accounting

1. SEC 2. Regulatory Agencies

C. Income Tax Accounting D. Some Fundamental Accounting Concepts

1. Historical Cost 2. Measuring Fair Value 3. The Going Concern Assumption 4. Yearly Reporting 5. Revenue Recognition and Matching 6. Conservatism 7. Materiality and Cost–Benefit Analysis

Chapter 4. Recognition of Revenues and Expenses

A. Revenue Recognition

1. Sale of Goods or Services 2. Revenue From Services 3. Long Term Contracts 4. Revenue Recognized With the Passage of Time 5. Revenue Recognized Based on Receipt of Cash 6. Completion of Production 7. Changes in Market Value 8. Asset Writedowns

B. Matching

1. Direct Matching 2. Immediate Write–Off 3. Systematic and Rational Allocation

Chapter 5. Current Assets and Liabilities

A. Cash

1. Cash Equivalents 2. Restricted Cash 3. Petty Cash 4. Internal Controls

B. Marketable Securities C. Receivables

1. Trade Receivables 2. Other Receivables 3. Reporting Receivables 4. Bad Debts 5. Financing and Sales of Receivables 6. Notes Receivable 7. Imputing Interest 8. Receivables From Related Parties

D. Prepayments E. Accounts Payable

1. Reporting Accounts Payable 2. Imputing Interest

F. Short Term Borrowings

1. Interest on Notes Payable 2. Currently Maturing Amounts of Long Term Debt

G. Accrued Liabilities H. Deferred Revenues and Deposits. I. Estimated Liabilities J. Contingent Liabilities

Chapter 6. Accounting for Inventories

A. Determining Physical Quantities on Hand

1. Periodic Inventory System 2. The Perpetual Inventory System

B. Determining Inventory Values

1. Specific Identification 2. Cost Flow Assumptions

C. Applying Lower of Cost or Market

1. Determining Market 2. Effect on Inventory and Cost of Goods Sold

D. Manufacturing Companies

Chapter 7. Property, Plant, and Equipment and Depreciation

A. Accounting at Acquisition

1. General Rule 2. Exchanges for Other Property 3. Acquisitions of Multiple Assets 4. Self–Constructed Assets

B. Accounting for Depreciation

1. Useful Life 2. Salvage Value 3. Method of Depreciation

C. Repairs and Improvements D. Disposal of Fixed Assets E. Impairment of Fixed Assets

Chapter 8. Intangible Assets

A. Identifiable Intangible Assets

1. Types of Identifiable Intangible Assets 2. Accounting for the Purchase of Identifiable Intangible Assets 3. Initial Accounting for Internally Created Identifiable Intangible Assets 4. Accounting for Identifiable Intangible Assets After Acquisition

B. Goodwill

Chapter 9. Accounting for Investments

A. Investments in Bonds

1. Acquisition of Bonds at Face Value 2. Acquisition of Bonds at a Discount or Premium 3. Changes in Value After Acquisition 4. Impairments of Loans

B. Accounting for Stock Investments

1. The Cost Method 2. The Equity Method 3. Consolidated Financial Statements 4. Consolidation of Variable Interest Entities

C. Derivatives and Other Financial Instruments

1. Definition of Derivatives 2. Accounting for Derivatives

D. Other Investments

1. Land 2. Cash Value of Life Insurance 3. Sinking Funds and Other Permanent Funds

Chapter 10. Accounting for Long Term Debt

A. Forms of Long Term Debt B. Accounting for Long Term Debt Issued at Par Value

1. Issuance on an Interest Payment Date 2. Issuance of Bonds Between Interest Payment Dates

C. Accounting for the Issuance of Bonds at Other Than Par Value

1. Bonds Issued at a Discount 2. Bonds Issued at a Premium

D. Bond Issuance Costs E. Retirement of Bonds Prior to Maturity

1. Actual Retirements 2. In–Substance Defeasance

F. Restructuring of Long Term Debt

1. Restructuring With No Gain or Loss 2. Restructuring With Recognition of Gain

G. Convertible Debt

1. Conversion—Book Value Method 2. Conversion—Market Value Method 3. Induced Conversions 4. Debt Issued With Stock Warrants

H. Stock Treated as Debt

1. Mandatorily Redeemable Stock 2. Obligations to Repurchase Shares 3. Certain Obligations to Issue Shares in the Future

Chapter 11. Accounting for Leases

A. Introduction B. Characterizing and Accounting for Leases

1. Accounting by the Lessee 2. Accounting by the Lessor 3. Changes in the Terms of a Lease Originally Treated as a Capital Lease

C. Special Rules

1. Leveraged Leases 2. Leases Involving Real Estate 3. Sale/Leasebacks

D. Disclosures Regarding Leases

Chapter 12. Accounting for Other Long Term Liabilities

A. Accounting for Income Taxes

1. Temporary Differences 2. Net Operating Losses 3. Valuation Allowances on Deferred Tax Assets 4. Reporting Deferred Tax Liabilities and Assets in the Balance Sheet 5. Intraperiod Tax Allocation 6. Permanent Tax Differences

B. Accounting for Retirement Plans

1. Defined Contribution Plans 2. Defined Benefit Plans

C. Accounting for Other Post–Retirement Benefits

Chapter 13. Accounting for Stock and Stockholders’ Equity

A. Contributions to Capital

1. Contributed Capital Accounts 2. Issuing Stock for Cash 3. Issuing Stock for Noncash Property 4. Stock Subscriptions 5. Stock Issuance Costs 6. Disclosures About Capital Structure

B. Accounting for Retained Earnings C. Accounting for Dividends and Other Distributions

1. Key Dates Related to Dividends 2. Cash Dividends 3. Property Dividends 4. Stock Dividends 5. Distributions of Stock Rights 6. Stock Splits

D. Other Adjustments to Retained Earnings

1. Prior Period Adjustments 2. Appropriations

E. Accounting for Treasury Stock

1. The Cost Method 2. The Par Value Method

F. Convertible Stock G. Stock Options and Stock Appreciation Rights

1. Stock Options 2. Stock Appreciation Rights 3. Disclosures

H. Other Comprehensive Income

Chapter 14. Partnership Accounting

A. Capital Accounts B. Defining a Partner’s Interest in Profits and Losses

1. Allocating Individual Items of Income or Loss 2. Recognizing Different Forms of Partner Contributions

C. Admission of New Partners

1. Transfer of Partnership Interests 2. Contribution to the Partnership

D. Retirement of Partners

1. Goodwill Method 2. Bonus Method

Chapter 15. Accounting for Business Combinations

A. Acquisition Method of Accounting

1. Recording the Acquisition 2. Effects of the Acquisition Method on the Income Statement 3. Accounting for Acquisition Costs 4. Recording Adjustments in Stock Acquisitions

Chapter 16. Earnings Per Share and Financial Ratios

A. Earnings Per Share

1. Basic Earnings Per Share 2. Diluted EPS

B. Financial Ratios

1. Measures of Liquidity 2. Measures of Leverage 3. Activity Ratios 4. Measures of Profitability

Chapter 17. Special Reporting Issues

A. Separately Reported Components of Income

1. Extraordinary Items 2. Discontinued Operations 3. Income Statement Reporting 4. Other Comprehensive Income 5. Effects of a Change in Accounting Principle

B. Segment Reporting

1. Reporting on Operating Segments 2. Reporting on Foreign Operations and Export Sales 3. Information About Major Customers 4. Products and Services

C. Interim Financial Statements

Chapter 18. Corporate Finance—Valuation

A. Valuation of Securities

1. Valuation of Bonds 2. Valuation of Preferred Stock 3. Valuation of Common Stock

B. Cost of Capital

1. Determining a Company’s Cost of Capital 2. Use of Cost of Capital in Capital Budgeting

C. Valuation of a Business

1. Discounted Cash Flow Analysis 2. Multiples Analysis 3. Asset Values

Chapter 19. International Accounting Issues

A. Accounting by U.S. Businesses Operating in Foreign Countries

1. Foreign Currency Transactions 2. Translating Foreign Currency Financial Statements

B. Accounting Rules in Other Countries

Appendix A. The Sarbanes–Oxley Act of 2002

1. The Public Company Accounting Oversight Board 2. Registration of Auditing Firms With the PCAOB 3. Regulating Auditing, Quality Control, and Independence Standards 4. Required Independence of Auditing Firms 5. Requirements Related to Audit Committees of Public Companies 6. Responsibilities of Senior Management for Financial Reports 7. Improved Financial Disclosures

Appendix B. Time Value of Money

1. Future Value of $1 2. Present Value of $1 3. Future Value of an Annuity of $1 4. Present Value of an Annuity of $1 5. Irregular Cash Flows

Appendix C. Cross Reference Table Selected Accounting Standards Compilation Equivalents of Pronouncements Referenced in Prior Editions Index

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