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current-assets-part-ii - Larry M Walther Current Assets...

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Download free ebooks at bookboon.com 2 Larry M. Walther Current Assets: Part II
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Download free ebooks at bookboon.com 3 Current Assets: Part II © 2010 Larry M. Walther, under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted, and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-581-3
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Download free ebooks at bookboon.com Please click the advert Current Assets: Part II 4 Contents Contents Part 1: Accounts Receivable 7 1. The Costs and Benefits of Selling on Credit 8 1.1 Credit Sales 8 1.2 Credit Cards 8 2. Accounting for Uncollectible Receivables 10 2.1 Direct Write-off Method 10 3. Alternative Approaches for Uncollectibles 12 3.1 Determining the Allowance Account 12 3.2 Writing off Uncollectible Accounts 14 3.3 Collection of an Account Previously Written off 15 3.4 Matching Achieved 16 3.5 Monitoring and Managing Accounts Receivable 16 4. Notes Receivable 18 4.1 Accounting for Notes Receivable 18 4.2 A Dishonoured Note 19 4.3 Notes and Adjusting Entries 20 Designed for high-achieving graduates across all disciplines, London Business School’s Masters in Management provides specific and tangible foundations for a successful career in business. This 12-month, full-time programme is a business qualification with impact. In 2010, our MiM employment rate was 95% within 3 months of graduation*; the majority of graduates choosing to work in consulting or financial services. As well as a renowned qualification from a world-class business school, you also gain access to the School’s network of more than 34,000 global alumni – a community that offers support and opportunities throughout your career. For more information visit www.london.edu/mm , email [email protected] or give us a call on +44 (0)20 7000 7573 . Masters in Management The next step for top-performing graduates * Figures taken from London Business School’s Masters in Management 2010 employment report
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Download free ebooks at bookboon.com Please click the advert Current Assets: Part II 5 Contents Part 2: Inventory 21 5. The Components of Inventory 22 5.1 Determining Which Goods to Include in Inventory 22 6. Inventory Costing Methods 24 6.1 Determining the Cost of Ending Inventory 25 6.2 Costing Methods 26 6.3 First-in, First-out Calculations 27 6.4 Last-in, First-out Calculations 28 6.5 Weighted average Calculations 28 6.6 Preliminary Recap and Comparison 28 6.7 Detailed Illustrations 29 6.8 FiFO 30 6.9 LIFO 31 6.10 Weighted Average 31 6.11 Comparing Inventory Methods 31 6.12 Specific Identification 32 7. Perpetual Inventory Systems 33 7.1 Perpetual FIFO 33 7.2 Journal Entries 34 7.3 Perpetual LIFO 35 7.4 Moving Average 37 © Agilent Technologies, Inc. 2012 u.s. 1-800-829-4444 canada: 1-877-894-4414 Teach with the Best. Learn with the Best. Agilent offers a wide variety of affordable, industry-leading electronic test equipment as well as knowledge-rich, on-line resources —for professors and students.
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