Financial Accounting: An Integrated Statements Approach, 2nd Edition

Basic Accounting Concepts

CHAPTER OUTLINE LEARNING GOALS IN-TEXT EXERCISES AND PROBLEMS

Elements of an Accounting System

• Rules


• Framework


• Controls

Learning Goal 1: Describe the

basic elements of a financial

accounting system.

Exercises

2-1, 2-2, 2-3, 2-4, 2-5, 2-7, 2-8,

2-10, 2-11, 2-13, 2-14, 2-21

Accounting Application Problems

2-1A (spreadsheet), 2-2A

(spreadsheet), 2-1B (spreadsheet),

2-2B (spreadsheet)

Recording a Corporation’s

First Period of Operations

Learning Goal 2: Analyze, record,

and summarize transactions for a

corporation’s first period of operations.

Exercises

2-6, 2-8, 2-9, 2-10, 2-11, 2-21

Accounting Application Problems

2-1A (spreadsheet), 2-2A (spreadsheet),

2-1B (spreadsheet),2-2B (spreadsheet)

Financial Statements for

a Corporation’s First

Period of Operations

• Income Statement


• Retained Earnings Statement


• Balance Sheet


• Statement of Cash Flows


• Integration of Financial Statements

Learning Goal 3: Prepare financial

statements for a corporation’s first

period of operations.

Exercises

2-7, 2-12, 2-13, 2-14, 2-15, 2-16

(spreadsheet), 2-17 (spreadsheet),

2-18 (spreadsheet), 2-19 (spreadsheet),

2-20 (spreadsheet), 2-22

Accounting Application Problems

2-1A (spreadsheet), 2-2A (spreadsheet),

2-5A, 2-6A, 2-1B (spreadsheet),2-2B

(spreadsheet), 2-5B, 2-6B

Recording a Corporation’s

Second Period of Operations

Learning Goal 4:Analyze, record,

and summarize transactions for a

corporation’s second period of

operations.

Exercises

2-6, 2-7, 2-8, 2-9, 2-10, 2-11, 2-21

Accounting Application Problems

2-3A, 2-3B (spreadsheet), 2-4B

(spreadsheet)

Financial Statements for

a Corporation’s Second

Period of Operations

Learning Goal 5: Prepare financial

statements for a corporation’s second

period of operations.

Exercises

2-7, 2-12, 2-13, 2-14, 2-15, 2-16

(spreadsheet), 2-17 (spreadsheet),

2-18 (spreadsheet), 2-19 (spreadsheet),

2-20 (spreadsheet), 2-22

Accounting Application Problems

2-3A, 2-4A (spreadsheet), 2-5A,

2-6A, 2-3B (spreadsheet), 2-4B

(spreadsheet), 2-5B, 2-6B

Vertical Analysis Learning Goal 6: Describe and

illustrate how vertical analysis can

be used to analyze and evaluate

a company’s performance.

chapter 2