A Simplified Review of the Accounting Process and the Financial Statements
Edition: 2
Copyright: 2016
Edition: 2
Copyright: 2016
Pages: 214
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This text provides a comprehensive introduction to the accounting cycle and the preparation, analysis, and interpretation of financial statements. Through a series of practical business cases, students learn how to record transactions using journal entries, post to the general ledger, prepare trial balances, make adjusting and closing entries, and create financial statements and statements of cash flows. The book also introduces financial ratio analysis as a tool for evaluating business performance. A comprehensive case study integrates all major accounting procedures, allowing students to apply accounting concepts and techniques from transaction recording through financial statement analysis.
Chapter 1 The Financial Statements and Accounting Cycle
Case 1: Normandale Landscape, Inc.: Account Analysis and Financial Statements Preparation
Chapter 2 General Ledger and Journal Entries
Case 2: Bloomington Motor, Co.: Journal Entries and the Financial Statements
Case 3: Chaska Water Shop: Journal Entries, Posting, and the Trial Balance
Appendix Transaction Examples
Chapter 3 The Adjusting Entries and the Adjusted Trial Balance
Case 5: Tonka, Inc.: Journal Entries and Adjusting Entries
Case 6: Excelsior Shop: Adjusting Entries and General Ledger
Case 7: Snow Lake Resort: Adjusting Entries and Adjusting Trial Balance
Chapter 4 Financial Statements Preparation Worksheet
Case 8: Pineapple, Inc.: Financial Statements Preparation using Worksheet
Case 9: St. Peter Race Shop: Financial Statements Preparation using Worksheet
Chapter 5 Closing Entries and Post-Closing Trial Balance
Case 10: Watermelon, Inc.: Closing Entries and Post-Closing Trial Balance
Chapter 6 The Statement of Cash Flows
Case 11: Minneapolis, Inc.: Preparing the Statement of Cash Flows
Case 12: Minnetonka, Inc.: Preparing the Statement of Cash Flows
Chapter 7 Financial Statement Analysis
Case 13: Jordan, Inc.: Ratio Analysis
Comprehensive Case Wayzata Cleaning, Inc.
Part 1: Journal Entries, Posting, and Unadjusted Trial Balance
Part 2: Adjusting Entries, Posting and Adjusted Trial Balance
Part 3: Worksheet and Financial Statements Preparation
Part 4: Closing Entries and Post-Closing Trial Balance
Part 5: Statement of Case Flows Preparation
Part 6: Financial Ratio Analysis
Dr. Ferdinand Siagian is an Associate Professor of Accounting at Minnesota State University, Mankato. He earned a Ph.D. from University of Oregon, an MBA from Indiana University Bloomington, and a Bachelor of Accounting from University of Indonesia. His teaching areas include financial accounting, managerial accounting, financial statement analysis, intermediate financial accounting, and accounting for management. His research focuses on accounting pedagogy, corporate governance, executive compensation, financial reporting and earnings quality, case studies, and capital markets. Dr. Siagian’s expertise includes managerial accounting, financial statement analysis, and business valuation.