Chap010

Fundamentals of Financial Accounting with Annual Report

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Chapter 10 - Reporting and Interpreting Liabilities CHAPTER 10 REPORTING AND INTERPRETING LIABILITIES Student Learning Objectives and Related Assignment Materials Student Learning Objectives Mini- Exercises Exercises Coached Problems Problems (Groups Skills Development Cases Multi- chapter Material 1. Explain the role of liabilities in financing a business. 3 2. Explain how to account for common types of current liabilities. 1, 2, 3, 4, 5, 6, 7 1, 2, 3, 4, 5*, 6 1, 2*, 3* A1, A2, A3*, B1, B2, B3 3 CC10† 3. Analyze and record bond liability transactions. 8, 9, 10, 11, 12 7, 8, 9 4, 5 A4, A5, B4, B5 3, 4, 5 4. Describe how to account for contingent liabilities. 14 6 A6 3 5. Calculate and interpret the quick ratio and times interest earned ratio. 13, 15 5*, 9, 10 1, 2 A1, A2, B1, B2 1, 2, 3, 6 Supplement 10A: Straight- Line Amortization 16 11, 14 7, 10* A7, B6 7 Supplement 10B: Effective-Interest Amortization 17 12, 15 8* 11 A8, B7 8 Supplement 10C: Simplified Effective- Interest Amortization 18 13, 16 9, 11 A9, B8 9 * Animated solution included in the PowerPoint Slides. † CC10 is a continuing case that builds on the story of Nicole’s Getaway Spa, introduced in earlier chapters. This case focuses on analyzing transactions and preparing journal entries. This case will be extended in future chapters. Overview The recent credit crisis highlighted the significant role that current and long-term liabilities play in financing businesses. Students learn accounting principles applied to current liabilities (including accrued coupon costs, payroll, interest-bearing notes, sales tax, unearned revenue, and bond liabilities. Three chapter supplements are used to explain straight-line bond amortization (A), effective-interest bond amortization (B), and a simplified approach to effective-interest bond amortization (C). 10-1
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Chapter 10 - Reporting and Interpreting Liabilities Synopsis of Chapter Revisions New section highlighting the vital role of liabilities in financing a business New visuals and discussion of payroll New visuals to demonstrate bond amortization New Spotlight on bond pricing New Spotlight on IFRS thresholds for recording contingent liabilities New section on the quick ratio New Spotlight on surviving a financial crunch Two new questions, six new problems, and three new cases One new continuing case PowerPoint Slides Student Learning Objective PowerPoint® Slides 1. Explain the role of liabilities in financing a business. 10-1 through 10-4 2. Explain how to account for common types of current liabilities. 10-5 through 10-22 3. Analyze and record bond liability transactions. 10-23 through 10-34 4. Describe how to account for contingent liabilities. 10-35 through 10-36 5. Calculate and interpret the quick ratio and times interest earned ratio. 10-37 through 10-40 Supplement 10A: Straight-Line Amortization 10-41 through 10-45 Supplement 10B: Effective-Interest Amortization 10-46 through 10-51 Supplement 10C: Simplified Effective-Interest Amortization
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Chap010 - Chapter 10 Reporting and Interpreting Liabilities...

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