1. Introduction to Accounting and Business
  Nature of a Business
   Types of Businesses
   Types of Business Organizations
   Business Strategies
   Value Chain of a Business
   Business Stakeholders
  The Role of Accounting in Business
  Business Ethics
  Profession of Accounting
   Private Accounting
   Public Accounting
   Specialized Accounting Fields
  Generally Accepted Accounting Principles
   Business Entity Concept
   The Cost Concept
  Assets, Liabilities, and Owner's Equity
  Business Transactions and the Accounting Equation
  Financial Statements
   Income Statement
   Statement of Owner's Equity
   Balance Sheet
   Statement of Cash Flows
  Financial Analysis and Interpretation
 2. Analyzing Transactions
  Usefulness of an Account
  Characteristics of an Account
  Analyzing and Summarizing Transactions in Accounts
   Transactions and Balance Sheet Accounts
   Income Statement Accounts
   Withdrawals by the Owner
   Normal Balances of Accounts
  Illustration of Analyzing and Summarizing Transactions Trial Balance
  Discovery and Correction of Errors
   Discovery of Errors
   Correction of Errors
  Financial Analysis and Interpretation
 3. The Matching Concept and the Adjusting Process
  The Matching Concept
  Nature of the Adjusting Process
  Recording Adjusting Entries
   Deferred Expenses (Prepaid Expenses)
   Deferred Revenue (Unearned Revenue)
   Accrued Expenses (Accrued Liabilities)
   Accrued Revenues (Accrued Assets)
   Fixed Assets
  Summary of Adjustment Process
  Financial Analysis and Interpretation
 4. Completing the Accounting Cycle
  Accounting Cycle
  Work Sheet
   Unadjusted Trial Balance Columns
   Adjustments Columns
   Adjusted Trial Balance Columns
   Income Statement and Balance Sheet Columns
  Financial Statements
   Income Statement
   Statement of Owner's Equity
   Balance Sheet
  Adjusting and Closing Entries
   Journalizing and Posting Closing Entries
   Post-Closing Trial Balance
  Fiscal Year
  Financial Analysis and Interpretation
  Appendix: Reversing Entries
 5. Accounting Systems and Internal Controls
  Basic Accounting Systems
  Internal Control
   Objectives of Internal Control
   Elements of Internal Control
  Manual Accounting Systems
   Subsidiary Ledgers
   Special Journals
   Manual Accounting System: The Revenue and Collection Cycle
   Manual Accounting System: The Purchase and Payment Cycle
  Adapting Manual Accounting Systems
   Additional Subsidiary Ledgers
   Modified Special Journals
  E-Commerce
 6. Accounting for Merchandising Businesses
  Nature of Merchandising Businesses
  Financial Statements for a Merchandising Business
   Multiple-Step Income Statement
   Single-Step Income Statement
   Statement of Owner's Equity
   Balance Sheet
  Sales Transactions
   Cash Sales
   Sales on Account
   Sales Discounts
   Sales Returns and Allowances
  Purchase Transactions
   Purchases Discounts
   Purchases Returns and Allowances
  Transportation Costs, Sales Taxes, and Trade Discounts
   Transportations Costs
   Sales Taxes
   Trade Discounts
  Illustration of Accounting for Merchandise Transactions
  Chart of Accounts for a Merchandising Business
  The Accounting Cycle for a Merchandising Business
   Merchandise Inventory Shrinkage
   Work Sheet
   Closing Entries
  Financial Analysis and Interpretation
   Manual Accounting System
 7. Cash
  Nature of Cash and the Importance of Controls Over Cash
  Control of Cash Receipts
   Controlling Cash Received from Cash Sales
   Controlling Cash Received in the Mail
  Internal Control of Cash Payments
   Basic Features of the Voucher System
  Bank Accounts: Their Nature and Use as a Control Over Cash
   Business Bank Accounts
   Bank Statement
   Bank Accounts as a Control Over Cash
  Bank Reconciliation
  Petty Cash
  Presentation of Cash on the Balance Sheet
  Financial Analysis and Interpretation
 8. Receivables
  Classification of Receivables
   Accounts Receivable
   Notes Receivable
   Other Receivables
  Internal Control of Receivables
  Uncollectible Receivables
  Allowance Method of Accounting for Uncollectibles
   Write-offs to the Allowance Account
   Estimating Uncollectibles
  Direct Write-Off Method of Accounting for Uncollectibles
  Characteristics of Notes Receivable
   Due Date
   Interest
   Maturity Value
  Accounting for Notes Receivable
  Receivables on the Balance Sheet
  Financial Analysis and Interpretation
  Appendix: Discounting Notes Receivable
 9. Inventories
  Internal Control of Inventories
  Effect of Inventory Errors on Financial Statements
  Inventory Cost Flow Assumptions
  Inventory Costing Methods Under a Perpetual Inventory System
   First-In, First-Out Method
   Last-In, First-Out Method
   Average Cost Method
   Computerized Perpetual Inventory Systems
  Inventory Costing Methods Under a Periodic Inventory System
   First-In, First-Out Method
   Last-In, First-Out Method
   Average Cost Method
  Comparing Inventory Costing Methods
   Use of the First-In, First-Out Method
   Use of the Last-In, First-Out Method
   Use of the Average Cost Method
  Valuation of Inventory at Other than Cost
   Valuation at Lower of Cost or Market
   Valuation at Net Realizable Value
  Presenting Merchandise Inventory on the Balance Sheet
  Estimating Inventory Cost
   Retail Method of Inventory Costing
   Gross Profit Method of Estimating Inventories
  Financial Analysis and Interpretation
 10. Fixed Assets and Intangible Assets
  Nature of Fixed Assets
   Classifying Costs
   The Cost of Fixed Assets
   Donated Assets
   Nature of Depreciation
  Accounting for Depreciation
   Straight-Line Method
   Units-of-Production Method
   Declining-Balance Method
   Comparing Depreciation Methods
   Depreciation for Federal Income Tax
   Revising Depreciation Estimates
   Composite-Rate Method
  Capital and Revenue Expenditures
   Stages of Acquiring Fixed Assets
   Fixed Asset Components
  Disposal of Fixed Assets
   Discarding Fixed Assets
   Selling Fixed Assets
   Exchanging Similar Fixed Assets
  Leasing Fixed Assets
  Internal Control of Fixed Assets
  Natural Resources
  Intangible Assets
   Patents
   Copyrights and Trademarks
   Goodwill
  Financial Reporting for Fixed Assets and Intangible Assets
  Financial Analysis and Interpretation
  Appendix: Sum-of-the-Years-Digits Depreciation
 11. Current Liabilities
  The Nature of Current Liabilities
  Short-Term Notes Payable and Current Portion of Long-Term Debt
   Short-Term Notes Payable
   Current Portion of Long-Term Debt
  Contingent Liabilities
  Payroll and Payroll Taxes
   Liability for Employee Earnings
   Computing Employee Net Pay
  Employees' Fringe Benefits
   Pensions
   Postretirement Benefits Other Than Pensions
  Financial Analysis and Interpretation
 12. Corporations: Organization, Capital Stock Transactions, and Dividends
  Nature of a Corporation
   Characteristics of a Corporation
   Forming a Corporation
  Stockholders' Equity
  Sources of Paid-in Capital
   Stock
  Issuing Stock
   Premium on Stock
  Treasury Stock Transactions
  Stock Splits
  Accounting for Dividends
   Cash Dividends
   Stock Dividends
  Reporting Stockholders' Equity
   Stockholders' Equity in the Balance Sheet
   Reporting Retained Earnings
  Financial Analysis and Interpretation
 13. Accounting for Partnerships and Limited Liability Corporations
  Alternate Forms of Business Entities
   Proprietorships
   Corporations
   Partnerships
   Limited Liability Corporations
   Comparison of Alternate Entity Characteristics
  Equity Reporting for Alternate Entity Forms
   Equity Reporting for Proprietorships
   Equity Reporting for Corporations
   Equity Reporting for Partnerships and Limited Liability Corporations
   Accounting for Partnerships and Limited Liability Corporations
  Forming a Partnership
  Dividing Income
   Dividing Income-Services of Partners
   Dividing Income-Services of Partners and Investments
   Dividing Income-Allowances Exceed Net Income
  Partnership Dissolution
   Admitting a Partner
   Withdrawal of a Partner
   Death of a Partner
  Liquidating Partnerships
   Gain on Realization
   Loss on Realization
   Loss on Realization-Capital Deficiency
   Errors in Liquidation
  Business Life Cycle
 14. Income Taxes, Unusual Income Items, and Investments in Stocks
  Corporate Income Taxes
   Payment of Income Taxes
   Allocating Income Taxes
   Reporting and Analyzing Taxes
  Unusual Items Affecting the Income Statement
   Unusual Items Affecting Income from Continuing Operations
   Unusual Items Not Affecting Income from Continuing Operations
   Reporting Unusual Below-the-Line Items
  Earnings per Common Share
  Comprehensive Income
  Accounting for Investments in Stocks
   Short-Term Investments in Stocks
   Long-Term Investments in Stocks
   Sale of Investments in Stocks
  Business Combinations
   Mergers and Consolidations
   Parent and Subsidiary Corporations
   Consolidated Financial Statements
  Financial Analysis and Interpretation
 15. Bonds Payable and Investments in Bonds
  Financing Corporations
  Characteristics of Bonds Payable
  The Present-Value Concept and Bonds Payable
   Present Value of the Face Amount of Bonds
   Present Value of the Periodic Bond Interest Payments
  Accounting for Bonds Payable
   Bonds Issued at Face Amount
   Bonds Issued at a Discount
   Amortizing a Bond Discount
   Bonds Issued at a Premium
   Amortizing a Bond Premium
   Zero-Coupon Bonds
  Bond Sinking Funds
  Bond Redemption
  Investments in Bonds
   Accounting for Bond Investments-Purchase,Interest, and Amortization
   Accounting for Bond Investments-Sale
  Corporation Balance Sheet
   Balance Sheet Presentation of Bonds Payable
   Balance Sheet Presentation of Bond Investments
  Financial Analysis and Interpretation
  Appendix: Effective Interest Rate Method of Amortization
   Amortization of Discount by the Interest Method
   Amortization of Premium by the Interest Method
 16. Statement of Cash Flows
  Reporting Cash Flows
   Cash Flows from Operating Activities
   Cash Flows from Investing Activities
   Cash Flows from Financing Activities
   Noncash Investing and Financing Activities
   No Cash Flow per Share
  Statement of Cash Flows-The Indirect Method
   Retained Earnings
   Common Stock
   Bonds Payable
   Building
   Land
   Preparing the Statement of Cash Flows
  Statement of Cash Flows-The Direct Method
   Cash Received from Customers
   Cash Payments for Merchandise
   Cash Payments for Operating Expenses
   Gain on Sale of Land
   Interest Expense
   Cash Payments for Income Taxes
   Reporting Cash Flows from Operating Activities-Direct Method
  Financial Analysis and Interpretation
 17. Financial Statement Analysis
  Basic Analytical Procedures
   Horizontal Analysis
   Vertical Analysis
   Common-Size Statements
   Other Analytical Measures
  Solvency Analysis
   Current Position Analysis
   Accounts Receivable Analysis
   Inventory Analysis
   Ratio of Fixed Assets to Long-Term Liabilities
   Ratio of Liabilities to Stockholders' Equity
   Number of Times Interest Charges Earned
  Profitability Analysis
   Ratio of Net Sales to Assets
   Rate Earned on Total Assets
   Rate Earned on Stockholders' Equity
   Rate Earned on Common Stockholders' Equity
   Earnings per Share on Common Stock
   Price-Earnings Ratio
   Dividends per Share and Dividend Yield
  Summary of Analytical Measures
  Corporate Annual Reports
   Management Discussion and Analysis
   Independent Auditors' Report