PART 1 Financial Reporting：Concepts,Financial Statements,and Related Disclosures 1
Chapter 1 Financial Reporting：Its Conceptual Framework 2
FASB CONCEPTUAL FRAMEWORK 4
OBJECTIVES OF FINANCIAL REPORTING 6
TYPES OF USEFUL INFORMATION 10
QUALITATIVE CHARACTERISTICS OF USEFUL ACCOUNTING INFORMATION 12
ACCOUNTING ASSUMPTIONS AND PRINCIPLES 17
CAAP AND FINANCIAL STATEMENTS 23
IASB FRAMEWORK 28
OVERVIEW 29
APPENDIX：JOINT FASB AND IASB CONCEPTUAL FRAMEWORK PROJECT 29
Chapter 2 The Balance Sheet and the Statement of Changes in Stockholders Equity 38
INTERRELATIONSHIP OF FINANCIAL STATEMENTS 40
PURPOSES OF THE BALANCE SHEET 41
RECOGNITION IN THE BALANCE SHEET 43
ELEMENTS OF THE BALANCE SHEET 43
MEASUREMENT(VALUATION) OF THE ELEMENTS OF A BALANCE SHEET 45
REPORTING CLASSIFICATIONS ON THE BALANCE SHEET 49
STATEMENT OF CHANGES IN STOCKHOLDERS'EQUITY 62
OTHER DISCLOSURE ISSUES 63
REPORTING TECHNIQUES 71
INTERNATIONAL BALANCE SHEET 72
ILLUSTRATIVE FINANCIAL STATEMENTS 72
Chapter 3 The Income Statement and the Statement of Cash Flows 88
CONCEPTS OF INCOME 90
PURPOSES OF THE INCOME STATEMENT 92
CONCEPTUAL REPORTING GUIDELINES 93
ELEMENTS OF THE INCOME STATEMENT 97
INCOME STATEMENT CONTENT 101
INCOME STATEMENT：INCOME FROM CONTINUING OPERATIONS 103
INCOME STATEMENT：RESULTS FROM DISCONTINUED OPERATIONS 109
INCOME STATEMENT：EXTRAORDINARY ITEMS 116
INCOME STATEMENT：EARNINGS PER SHARE 119
INCOME STATEMENT：RELATED ISSUES 122
INTERNATIONAL INCOME STATEMENT 124
STATEMENT OF RETAINED EARNINGS 125
COMPREHENSIVE INCOME 128
STATEMENT OF CASH FLOWS 131
SUMMARY OF DISCLOSURES 136
APPENDIX：FINANCIAL ANALYSIS COMPARISONS 137
PART 2 Financial Reporting：Asset Valuation and Income Measurement 177
Chapter 4 Cash and Receivables 178
CASH 180
RECEIVABLES 184
REVENUE RECOGNITION AND VALUATION OF TRADE RECEIVABLES 184
ACCOUNIS RECEIVABLE 186
VALUATION OF UNCOLLECTIBLE ACCOUNTS RECEIVABLE 189
GENERATING IMMEDIATE CASH FROM ACCOUNTS RECEIVABLE 196
NOTES RECEIVABLE 202
FINANCIAL STATEMENT DISCLOSURES OF RECEIVABLES 206
Chapter 5 Inventories：Cost Measurement and Flow Assumptions 222
CLASSIFICATIONS OF INVENTORY 224
ALTERNATIVE INVENTORY SYSTEMS 226
ITEMS TO BE INCLUDED IN INVENTORY QUANTITIES 227
DETERMINATION OF INVENTORY COSTS 228
COST FLOW ASSUMPTIONS 231
CONCEPTUAL EVALUATION OF INVENTORY COST FLOW ASSUMPTIONS 238
DOLLAR-VALUE LIFO 245
ADDITIONAL LIFO CONSIDERATIONS 251
DISCLOSURE OF INVENTORY VALUES AND METHODS 253
LOWER OF COST OR MARKET 256
CONCEPTUAL EVALUATION OF LOWER OF COST OR MARKET 264
PURCHASE OBLIGATIONS AND PRODUCT FINANCING ARRANGEMENTS 266
VALUATION ABOVE COST 267
EFFECTS OF INVENTORY ERRORS 268
SUMMARY OF INVENTORY ISSUES 270
Chapter 6 Property,Plant,and Equipment：Acquisition and Disposal 288
CHARACTERISTICS OF PROPERTY,PLANT,AND EQUIPMENT 290
ACQUISITION OF PROPERTY,PLANT AND EQUIPMENT 291
NONMONETARY ASSET EXCHANGES 296
SELF-CONSTRUCTION 299
COSTS AFTER ACQUISITION 305
DISPOSAL OF PROPERTY,PLANT AND EQUIPMENT 308
DISCLOSURE OF PROPERTY,PLANT,AND EQUIPMENT 310
APPENDIX：OIL AND GAS PROPERTIES 313
Chapter 7 Depreciation and Depletion 328
FACTORS INVOLVED IN DEPRECIATION 330
METHODS OF COST ALLOCATION 331
RECORDING DEPRECIATION 336
CONCEPTUUAL EVALUATION OF DEPRECIATION MEITHODS 337
DISCLOSURE OF DEPRECIATION 339
ADDITIONAL DEPRECIATION METHODS 341
DEPRECIATION FOR PARTIAL PERIODS 345
IMPAIRMENT OF PROPERTY,PIANT,AND EQUIPMENT 347
DEPRECIATION AND INCOME TAXES 351
CHANGES AND CORRECTIONS OF DEPRECIATION 354
DEPLETION 355
Chapter 8 Intangibles 372
ACCOUNTING FOR INTANGIBLES 374
RESEARCH AND DEVELOPMENT COSTS 377
IDENTIFIABLE INTANGIBLE ASSETS 381
UNIDENTIFIABLE INTANGIBLES 386
DISCLOSURES FOR INTANGIBLE ASSETS 391
CONCEPTUAL EVALUATION OF ACCOUNTING FOR INTANGIBLES 393
PART 3 Financial Reporting：Valuation of Liabilities and Investments 407
Chapter 9 Current Liabilities and Contingencies 408
CONCEPTUAL OVERVIEW OF LIABILITIES 410
NATURE AND DEFINITION OF CURRENT LIABILITIES 411
VALUATION OF CURRENT LIABILITIES 413
CURRENT LIABILITIES HAVING A CONTRACTUAL AMOUNT 413
CURRENT LIABILlTIES WHOSE AMOUNTS DEPEND ON OPERATIONS 421
CURRENT LIABILITIES REQUIRING AMOUNTS TO BE ESTIMATED 426
CONTINGENCIES 433
OTHER LIABILITY CLASSIFICATION ISSUES 440
FINANCIAL STATEMENT PRESENTATION OF CURRENT LIABILITIES 442
Chapter 10 Long-Term Liabilities and Receivables 458
REASONS FOR ISSUANCE OF LONG-TERM LIABILITIES 460
BONDS PAYABLE 460
RECORDING THE ISSUANCE OF BONDS 463
AMORTIZING DISCOUNTS AND PREMIUMS 465
EXTINGUISHMENT OF LIABILITIES 474
BONDS WITH EQUITY CHARACTERISTICS 476
LONG-TERM NOTES PAYABLE 482
LONG-TERM NOTES RECEIVABLE 488
APPENDIX1：TROUBLED DEBT RESTRUCTRINGS 497
APPENDIX2：SERIAL BONDS 504
Chapter 11 Investments 522
INVESTMENTS：CLASSIFICATION AND VALUATION 524
INVESTMENTS IN DEBT AND EQUITY TRADING SECURITIES 526
INVESTMENTS IN AVAILABLE-FOR-SALE DEBT AND EQUITY SECURITIES 526
INVESTMENTS IN HELD-TO MATURITY DEBT SECURITIES 532
TRANSFERS AND IMPAIRMENTS 539
DISCLOSURES 542
CONCEPTUAL EVALUATION 544
EQUITY METHOD 547
ADDITIONAL ISSUES FOR INVESTMENTS 555
PART 4 Financial Reporting：Stockholders'Equity 571
Chapter 12 Contributed Capital 572
CORPORATE FORM OF ORGANIZATION 574
CORPORATE CAPITAL STRUCTURE 576
STOCKHOLDERS'EQUITY 579
ISSUANCE OF CAPITAL STOCK 580
NONCOMPENSATORY SHARE PURCHASE PLANS 588
COMPENSATORY SHARE OPTION PLANS 589
PREFERRED STOCK CHARACTERISTICS 603
CONTRIBUTED CAPITAL SECTION 609
TREASURY STOCK(CAPITAL STOCK REACQUISITION) 611
CAPITAL STOCK TRANSACTIONS AND THE STATEMENT OF CASH FLOWS 616
Chapter 13 Earnings per Share and Retained Earnings 632
EARNINGS AND EARNINGS PER SHARE 634
OVERVIEW AND USES OF EARNINGS PER SHARE INFORMATION 634
BASIC EARNINGS PER SHARE 635
DILUTED EARNINGS PER SHARE 639
ADDITIONAL CONSIDERATIONS 646
EPS DISCLOSURE ILLUSTRATION 647
CONTENT OF RETAINED EARNINGS 649
DIVIDENDS 649
PRIOR PERIOD ADJUSTMENTS(RESTATEMENTS) 660
RESTRICTIONS(APPROPRIATIONS)OF RETAINED EARNINGS 661
STATEMENT OF RETAINED EARNINGS 662
MISCELLANEOUS CHANGES IN STOCKHOLDERS'EQUITY 663
STATEMENT OF CHANGES IN STOCKHOLDERS'EQUITY 663
PART 5 Financial Reporting：Special Topics 687
Chapter 14 Income Recognition and Measurement of Net Assets 688
OVERVIEW OF REVENUE RECOGNTION ALTERNATIVES 690
EXAMPLES OF REVENUE RECOGNITION ALTERNATIVES 691
CONCEPTUAL ISSUES 695
ALtERNATIVE REVENUE RECOGNITION METHODS 696
REVENUE RECOGNITION PRIOR TO THE PERIOD OF SALE 698
REPORTING AND DISCLOSING LONG-TERM CONSTRUCTION CONTRACTS 708
REVENUE RECOGNITION AFTER THE PERIOD OF SALE 713
REVENUE RECOGNITION DELAYED UNTIL A FUTURE EVENT OCCURS 720
ADDITIONAL ISSUES 721
SUMMARY OF ALTERNATIVE REVENUE RECOGNITION METHODS 722
Chapter 15 The Statement of Cash Flows 738
CONCEPTUAL OVERVIEW AND REPORTING GUIDELINES 740
CASH INFLOWS AND OUTFLOWS 745
NET CASH FLOW FROM OPERATING ACTIVITIES 747
INFORMATION FOR PREPARATION OF STATEMENT 752
VISUAL INSPECTION METHOD OF ANALYSIS 753
WORKSHEET(SPREADSHEET)METHOD OF ANALYSIS 756
SPECIAL TOPICS 765
APPENDIX：DIRECT METHOD FOR REPORTING OPERATING CASH FLOWS 776
APPENDIX A List of the Official Pronouncements of the AICPA and FASB 807
APPENDIX B List of the Official Pronouncements of the IASB 817
APPENDIX C Brief Guide to Key IFRS vs U.S.GAAP Differences by Chapter 821