Accounting Principles, 8th Canadian Edition, Volume 2

Table of contents :
Cover
Title Page
Copyright
Author Team
To the Instructor
Acknowledgements
Brief Contents
Contents
9 Long-Lived Assets
Capitalizing on Education
Property, Plant, and Equipment
Determining the Cost of Property, Plant, and Equipment
Depreciation
Factors in Calculating Depreciation
Depreciation Methods
Comparison of Depreciation Methods
Partial Period Depreciation
Depreciation and Income Tax
Revising Periodic Depreciation
Capital Expenditures During Useful Life
Impairments
Cost Model Versus Revaluation Model
Changes in Depreciation Method, Estimated Useful Life, or Residual Value
Revised Depreciation Calculations
Disposal of Property, Plant, and Equipment
Steps in Recording Disposals of Property, Plant, and Equipment
Retirement of Property, Plant, and Equipment
Sale of Property, Plant, and Equipment
Exchanges of Property, Plant, and Equipment
Natural Resources
Cost
Depletion
Disposal
Intangible Assets and Goodwill
Accounting for Intangible Assets
Intangible Assets with Finite Lives
Intangible Assets with Indefinite Lives
Goodwill
Statement Presentation and Analysis
Presentation
Analysis
10 Current Liabilities and Payroll
Butterflies Bring About Better Banknotes
Determinable (Certain) Current Liabilities
Accounts Payable
Unearned Revenues
Operating Line of Credit and Bank Overdraft
Short-Term Notes Payable
Sales Taxes
Property Taxes
Current Maturities of Long-Term Debt
Uncertain Liabilities
Provisions
Contingencies
Payroll
Employee Payroll Costs
Employer Payroll Costs
Recording the Payroll
Financial Statement Presentation
Appendix 10A: Payroll Deductions
Mandatory Payroll Deductions
Using Payroll Deduction Tables
11 Financial Reporting Concepts
Disclosing Accounting Policies Is a Good Policy
The Conceptual Framework of Accounting
The Objective of Financial Reporting
Elements of Financial Statements
Qualitative Characteristics of Useful Financial Information
Fundamental Characteristics
Enhancing Qualitative Characteristics
Application of the Qualitative Characteristics
Differences in Qualitative Characteristics Under IFRS and ASPE
Recognition and Measurement Criteria
General Recognition
Revenue Recognition
Variable Consideration
Expense Recognition
Measurement of Elements
Violation of Recognition and Measurement Concepts: Errors and Intentional Misstatements
Foundational Concepts, Assumptions, and Constraints
Concepts and Assumptions
Constraints
Summary of Conceptual Framework
12 Accounting for Partnerships
Partnering for Success
Partnership Form of Organization
Characteristics of Partnerships
Advantages and Disadvantages of Partnerships
Partnership Agreement
Forming a Partnership
Dividing Partnership Profit or Loss
Profit and Loss Ratios
Salaries, Interest, and Remainder in a Fixed Ratio
Closing Entries
Partnership Financial Statements
Admission of a Partner
Purchase of a Partner?s Interest
Investment of Assets in a Partnership
Withdrawal of a Partner
Payment from Partners? Personal Assets
Payment from Partnership Assets
Death of a Partner
Liquidation of a Partnership
No Capital Deficiency
Capital Deficiency
13 Introduction to Corporations
The Advantages of Incorporation
The Corporate Form of Organization
Characteristics of a Corporation
Operating a Corporation
Share Capital
Share Issue Considerations
Common Shares
Preferred Shares
Corporate Income Statements
Cash Dividends
Necessary Conditions to Pay Cash Dividends
Entries for Cash Dividends
Preferred Share Cash Dividends
Reporting Retained Earnings
Statement of Retained Earnings (ASPE Only)
Closing Entries for a Corporation
Statement Presentation and Analysis
Presentation of Shareholders? Equity
Analysis
14 Corporations: Additional Topics and IFRS
Flying High as a Public Company
Stock Dividends and Stock Splits
Stock Dividends
Stock Splits
Comparison of Effects
Reacquisition of Shares
Reacquisition below Average per Share Amount
Reacquisition above Average per Share Amount
Comprehensive Income
Continuing and Discontinued Operations
Other Comprehensive Income
Accounting Changes
Changes in Accounting Estimates
Changes in Accounting Policies
Correction of Prior Period Errors
Reporting Changes in Shareholders? Equity
Summary of Shareholders? Equity Transactions
Statement of Changes in Shareholders? Equity
Analyzing Shareholders? Equity
Earnings Performance
Dividends Record
15 Non-Current Liabilities
A New Lease on Aircraft Accounting
Bonds Payable
Types of Bonds
Bond Issuance
Bond Trading
Bond Pricing
Discount or Premium on Bonds
Accounting for Bond Issues
Issuing Bonds at Face Value
Issuing Bonds at a Discount
Issuing Bonds at a Premium
Issuing Bonds at a Discount Versus at a Premium
Bond Interest Accruals
Accounting for Bond Retirements
Redeeming Bonds at Maturity
Redeeming Bonds before Maturity
Instalment Notes Payable
Fixed Principal Payments
Blended Payments
Current and Non-Current Portions
Lease Liabilities
Accounting for Lease Arrangements
Statement Presentation and Analysis
Presentation
Analysis
16 Investments
Growing through Strategic Investments
Classifying Investments
Non-Strategic Investments
Strategic Investments
Accounting for Debt Investments Reported at Amortized Cost
Money-Market Instruments
Bonds
Accounting for Fair Value Investments
Fair Value through Profit or Loss: Equity Investments (Common Shares)
Fair Value through Profit or Loss: Debt Investments (Bonds)
Fair Value through Other Comprehensive Income
Accounting for Strategic Investments
Equity Method
Cost Method
Reporting of Investments
Balance Sheet
Income Statement and Statement of Comprehensive Income
Summary of Investments
17 The Cash Flow Statement
Going with the Cash Flow
Reporting of Cash Flows
Usefulness of the Cash Flow Statement
Content of the Cash Flow Statement
Preparing the Statement of Cash Flows?Indirect Method
Indirect Method
Preparing the Cash Flow Statement?Direct Method
Direct Method
Using the Information in the Financial Statements
Free Cash Flow
18 Financial Statement Analysis
From Fashion Trends to Earnings Trends
Basics of Financial Statement Analysis
Comparative Analysis
Tools of Analysis
Horizontal Analysis
Balance Sheet
Income Statement
Vertical Analysis
Balance Sheet
Income Statement
Liquidity Ratios
Current Ratio
Acid-Test Ratio
Receivables Turnover
Inventory Turnover
Operating Cycle
Liquidity Conclusion
Summary of Liquidity Ratios
Solvency Ratios
Debt to Total Assets
Interest Coverage
Free Cash Flow
Solvency Conclusion
Summary of Solvency Ratios
Profitability Ratios
Gross Profit Margin
Profit Margin
Asset Turnover
Return on Assets
Return on Equity
Earnings per Share (EPS)
Price-Earnings (PE) Ratio
Payout Ratio
Profitability Conclusion
Summary of Profitability Ratios
Limitations of Financial Statement Analysis
Alternative Accounting Policies
Comprehensive Income
Quality of Information
Economic Factors
APPENDIX A Specimen Financial Statements: Aritzia Inc.
APPENDIX B Sales Taxes
APPENDIX PV Present Value Concepts
Company Index
Subject Index
EULA

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