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ACCOUNTING: BASIC PRINCIPLES Basic Concepts of Accounting The Need for Financial Information The Nature of an Accounting System The Accounting Process Different Types of Business Entities Users of Financial Information Generally Accepted Accounting Principles The major Areas accounting.Analyzing Business Transactions The Importance of Accounting in Business Accounting Begins With Analysis Starting a New Business Renting Facilities Purchasing Equipment for Cash Purchasing Equipment on Credit Purchasing Supplies Paying a Creditor Preparing the Balance Sheet The Fundamental Accounting Equation Effects of Revenue and Expenses Selling Services on Credit Collecting Receivables Paying Expenses The Income Statement The Balance Sheet The Importance of the Setting Up Accounts Accounts for Assets, Liabilities, and Owner's Equity Accounts for Revenue and Expenses The Rules of Debit and Credit The Double Basic Accounting Records Journals The General Journal Ledger Accounts The General Lec Correcting Errors in the Journal and the Ledger The Trial Balance, Adjustments, and the Worksheet The Trial Balance Finding the Balance of an Account Preparing the Trial Balance Errors Revealed by the Trial Balance Errors Not Revealed by the Trial Balance The Worksheet The Financial Statements End-of-Period Procedures. Adjusting Entries Closing Entries The Postclosing Trial Balance. Accounting Cycle Service Business Accounting Cycle.Major Areas of Accounting Statements System Chart of Accounts Permanent and Temporary Accounts Journalizing and Posting Adjusting Entries Accounting for Sales and Accounts Receivable The Accounting Systen of a Merchandising Business The N Need for a Sales Journal Using a Sales Journal Recording Sales Returns and Allowances Reporting Net Sales The Need for an Accounts Receivable Ledger Using an Accounts Receivable Ledger Recording Credit Sales a Wholesale Business Credit Policies Types of Credit Sales Accounting for Sales Involving Credit Card Companies. Accounting for Purchases and Accounts Payable. Purchasing Procedures Internal Control of Purchases The Merchandiso. Purchases Account: The Need for a Purchases Journal Using a Purchases. Journal Recording Freight In Recording Purchases Returns and Allowances Determining the Cost of Purchases The Need for an Accounts Payable Ledger Using an Accounts Payable Ledger Internal Control Over Cash The The Recording Process for Cash. Accounting for Cash.The Nature of Cash Transactions Recording Process for Cash Receipts.Payments The Petty Cash Fund. Banking Procedures and Reconciliations Making Bank Deposits The Deposit Slip Preparing the Deposit Making Payments by Check Reconciling the Bank.Statement Ilustrative Case-Bank Reconciliation Banking Activities. I Internal Control and the Voucher System General Principles of Internal Internal Control of The Need for Internal Control. Control The Voucher System Operating the Voucher System Using. Voucher Register Using the Check Register Preparing a Schedule of Vouchers Payable Transactions Requiring Special Treatment Recordin. Purchase Discounts Lost. Small Business Record Systems. Systems Involving the Combined Journal One-Write Systems. Microcomputer Accounting Systems Payroll Computations, Records, and Payment Objectives of Payroll Work IIlustrative Case-The Kent Novelty.Company Determining Gross Pay for Hourly Employees. From Gross Pay Required by Law Deductions From Gross Pay Not. Required by Law Determining Gross Pay for Salaried. Employees Deductions From Gross PayRecording Payroll Information for Employees The Payroll Register The Accounting Entry for Payroll Paying the Payroll Individual Earnings Records Completing January Payrolls Proving the Individual Earnings Records Recording the Payroll Taxes, Deposits, and Reports Changes in Tax Rates and Bases Deposit of FICA Taxes and Income Taxes Withheld Employer's Quarterly Federal Tax Return Wage and Tax Statements Annual Transmittal of Income and Tax Statements Unemployment Insurance State Unemployment Tax Federal Unemployment Tax Worker's Compensation Insurance Internal Control THE RESULTS OF OPERATIONS Accruals and Deferrals The Accrual Basis Preparation of the Worksheet Recording the Loss From Uncollectible Accounts on the Worksheet Recording Depreciation on the Worksheet Recording Accrued and Prepaid Items on the Worksheet Recording Ending Merchandise Inventory on the Worksheet Preparing the Adjusted Trial Balance The Worksheet and the Financial Statements Entering Adjustments on the Worksheet Completing the Adjusted Trial Balance Section Recording Ending Merchandise Inventory on the Worksheet Preparing the Balance Sheet Section. Statement Section Completing the Worksheet Preparing the Financial Statements The Classified Income Statement The Statement of Owner's Equity The Classified Balance Sheet. Adjusting and Closing Procedures. Preparing the Income Journalizing the Adjusting Entries Posting the Adjusting. Entries Journalizing the Closing Entries Posting the Closing. Entries Preparing a Postclosing Trial Balance Preparing the accounts.The Next Period Reversing Entries Review of the Accounting Cycle Computerized Accounting Systems. Mainframe Computers and Minicomputers Large-Scale Computerized. Accounting Systems Control Techniques EDP Auditing Liability for Unpaid Salaries and Wages Over Payroll Operations Microcomputers as Analytical Tools.The Need for Generally Accepted Accounting Principles The Sources of Generally Accepted Accounting Principles The Present Framework. Accounting Principles. Accounting Principles and Reporting Standards Negotiable Instrumnents Notes Payable Interest Partial Payment of a Renewing a Note Payable Discounting a Note Payable at the Bank Notes Payable Register Notes Payable and Interest Expense on Notes Payable and Interest the Statements Internal Control of Notes Payable Notes Receivable Noninterest-Bearing Note Received Interest- Note Received Partial Collection of a Note Maturity Notes Received at the Time of Sale Discounting a Note Discounted-A Contingent Liability Discounted Noninterest-Bearing Note Receivable Noninterest-Bearing Note Discounted Notes Receivable Maturity Interest-Bearing Note Discounted Discounted Interest-Bearino Paid at Maturity Discounted Noninterest-Bearing Note Dishonored at Note Dishonored at Maturity Notes Receivable Register Notes Note Payable Note Not Collected at Notes Receivable and Drafts Expenses. Accounts Receivable and Uncollectible Accounts Recording Losses When They Occur-The Direct Charge-Off Method Recording Actual Uncollectible Amounts Collecting an Accounting Providing for Losses Before They Occur-The Allowance That Was Written Off Other Receivables and Bad Debt Losses on the Income Statement Allowance for Uncollectible Accounts on the Balance Sheet Recognizing the Effect of Potential Cash Method Discounts Installment Sales Procedures Recording Defaults on Installment Sales Internal Control of Accounts Receivable Cost Inter Importance of Inventory Valuation Inventory Costing Methods. Market, Whichever Is Lower Inventory Estimation Procedures. Control of Inventories Merchandise Inventory Property, Plant, and Equipment ; Intangible Assets Property, Plant, and Equipment Acquisition of Property, Plant, and Equipment Cost of Using Property, Plant, and Equipment Record Depreciation, Depletion, and Amortization Methods of Computing. Purposes Depletion Disposition of an Asset Intangible. Assets Acquisition of Intangible Assets Amortization of Costs o- Intangible Assets –Bearing.Receivable and Interest Income on the Statements Drafts Trade. Acceptances Internal Control of Notes Receivable Depreciation Depreciation for Federal Income Tax. Internal Control of Property, Plant, and equipment Business Taxes Iyes of Taxes come Taxes Property Taxes Licenses llustration, The Stvle Clohing Sore Taxes Tax Calenxlar Partnership Organization Other Taxes and Sales and Exercise The Nature of Partnerships Fomation of a Partnership Determining the Value of Net Assets Adjustments to Proprietorship Records The Partnership Agreement Dissolving the Sole Proprietorship Partnership Records Partnerships: Profit Division and Equity Accounting. Partner' s Capital Account Partner's Drawing Account Division of Partnership Profits Profit- Sharing Agreement Puting the Plan Into Operation Partnership Equity on the Statements Admitting a New Partner Opening the Characteristics and Formation of a Corporation Characteristics of a Corporation. Legal Aspects of a Corporation. a Coporation Types of Stock Dividends to Stockholders Values of Capital Stock Capital Stock on the Balance Sheet Comparison of Dividend Provisions Financing With Bonds Incorporating a Sole Proprietorship Revaluation of Assets Revaluation Account Transfer of Assets and Liabilities to the Corporation Receipt of Stock From the Corporation Distribution of Stock to the Proprietor and Liabilities by the Corporation Issuance of Stock Costs Balance Sheet Immediately After Organization Corporation Earnings and Capital Transactions Forming Determining Corporate Net Income Net Income and Income Acquisition of Assets Organisation Capital Stock Transactions ; Corporate Records Corporate Records Articles of Incorporation Issuing Stock to the Incorporators Issuing Additional Stock Meeting of the Stockholders Meeting of the Board of Directors Minute Book Stock Certificate Books - Capital Stock Ledger and Procedures Transfer Agent and Registrar Issuing Stock at a Premium Issuing Stock at a Discount Stated Value for No-Par Value Stock Issuing No-Par Value Stock Above Stated Value Subscriptions for Capital Stock Treatment of Payment of : Taxes Statement Presentation Entering Income Taxes and Transferring Net Income Prior Period Adjustments Appropriations of Retained Earnings Dividends Declaration of a Cash Dividend Defaults on Stock Subscriptions Records of Stock Subscriptions Treasury Stock Redemption of Preferred Stock

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ACCOUNTING: BASIC PRINCIPLES Basic Concepts of Accounting The Need for Financial Information The Nature of an Accounting System The Accounting Process Different Types of Business Entities Users of Financial Information Generally Accepted Accounting Principles The major Areas accounting.Analyzing Business Transactions The Importance of Accounting in Business Accounting Begins With Analysis Starting a New Business Renting Facilities Purchasing Equipment for Cash Purchasing Equipment on Credit Purchasing Supplies Paying a Creditor Preparing the Balance Sheet The Fundamental Accounting Equation Effects of Revenue and Expenses Selling Services on Credit Collecting Receivables Paying Expenses The Income Statement The Balance Sheet The Importance of the Setting Up Accounts Accounts for Assets, Liabilities, and Owner's Equity Accounts for Revenue and Expenses The Rules of Debit and Credit The Double Basic Accounting Records Journals The General Journal Ledger Accounts The General Lec Correcting Errors in the Journal and the Ledger The Trial Balance, Adjustments, and the Worksheet The Trial Balance Finding the Balance of an Account Preparing the Trial Balance Errors Revealed by the Trial Balance Errors Not Revealed by the Trial Balance The Worksheet The Financial Statements End-of-Period Procedures. Adjusting Entries Closing Entries The Postclosing Trial Balance. Accounting Cycle Service Business Accounting Cycle.Major Areas of Accounting Statements System Chart of Accounts Permanent and Temporary Accounts Journalizing and Posting Adjusting Entries Accounting for Sales and Accounts Receivable The Accounting Systen of a Merchandising Business The N Need for a Sales Journal Using a Sales Journal Recording Sales Returns and Allowances Reporting Net Sales The Need for an Accounts Receivable Ledger Using an Accounts Receivable Ledger Recording Credit Sales a Wholesale Business Credit Policies Types of Credit Sales Accounting for Sales Involving Credit Card Companies. Accounting for Purchases and Accounts Payable. Purchasing Procedures Internal Control of Purchases The Merchandiso. Purchases Account: The Need for a Purchases Journal Using a Purchases. Journal Recording Freight In Recording Purchases Returns and Allowances Determining the Cost of Purchases The Need for an Accounts Payable Ledger Using an Accounts Payable Ledger Internal Control Over Cash The The Recording Process for Cash. Accounting for Cash.The Nature of Cash Transactions Recording Process for Cash Receipts.Payments The Petty Cash Fund. Banking Procedures and Reconciliations Making Bank Deposits The Deposit Slip Preparing the Deposit Making Payments by Check Reconciling the Bank.Statement Ilustrative Case-Bank Reconciliation Banking Activities. I Internal Control and the Voucher System General Principles of Internal Internal Control of The Need for Internal Control. Control The Voucher System Operating the Voucher System Using. Voucher Register Using the Check Register Preparing a Schedule of Vouchers Payable Transactions Requiring Special Treatment Recordin. Purchase Discounts Lost. Small Business Record Systems. Systems Involving the Combined Journal One-Write Systems. Microcomputer Accounting Systems Payroll Computations, Records, and Payment Objectives of Payroll Work IIlustrative Case-The Kent Novelty.Company Determining Gross Pay for Hourly Employees. From Gross Pay Required by Law Deductions From Gross Pay Not. Required by Law Determining Gross Pay for Salaried. Employees Deductions From Gross PayRecording Payroll Information for Employees The Payroll Register The Accounting Entry for Payroll Paying the Payroll Individual Earnings Records Completing January Payrolls Proving the Individual Earnings Records Recording the Payroll Taxes, Deposits, and Reports Changes in Tax Rates and Bases Deposit of FICA Taxes and Income Taxes Withheld Employer's Quarterly Federal Tax Return Wage and Tax Statements Annual Transmittal of Income and Tax Statements Unemployment Insurance State Unemployment Tax Federal Unemployment Tax Worker's Compensation Insurance Internal Control THE RESULTS OF OPERATIONS Accruals and Deferrals The Accrual Basis Preparation of the Worksheet Recording the Loss From Uncollectible Accounts on the Worksheet Recording Depreciation on the Worksheet Recording Accrued and Prepaid Items on the Worksheet Recording Ending Merchandise Inventory on the Worksheet Preparing the Adjusted Trial Balance The Worksheet and the Financial Statements Entering Adjustments on the Worksheet Completing the Adjusted Trial Balance Section Recording Ending Merchandise Inventory on the Worksheet Preparing the Balance Sheet Section. Statement Section Completing the Worksheet Preparing the Financial Statements The Classified Income Statement The Statement of Owner's Equity The Classified Balance Sheet. Adjusting and Closing Procedures. Preparing the Income Journalizing the Adjusting Entries Posting the Adjusting. Entries Journalizing the Closing Entries Posting the Closing. Entries Preparing a Postclosing Trial Balance Preparing the accounts.The Next Period Reversing Entries Review of the Accounting Cycle Computerized Accounting Systems. Mainframe Computers and Minicomputers Large-Scale Computerized. Accounting Systems Control Techniques EDP Auditing Liability for Unpaid Salaries and Wages Over Payroll Operations Microcomputers as Analytical Tools.The Need for Generally Accepted Accounting Principles The Sources of Generally Accepted Accounting Principles The Present Framework. Accounting Principles. Accounting Principles and Reporting Standards Negotiable Instrumnents Notes Payable Interest Partial Payment of a Renewing a Note Payable Discounting a Note Payable at the Bank Notes Payable Register Notes Payable and Interest Expense on Notes Payable and Interest the Statements Internal Control of Notes Payable Notes Receivable Noninterest-Bearing Note Received Interest- Note Received Partial Collection of a Note Maturity Notes Received at the Time of Sale Discounting a Note Discounted-A Contingent Liability Discounted Noninterest-Bearing Note Receivable Noninterest-Bearing Note Discounted Notes Receivable Maturity Interest-Bearing Note Discounted Discounted Interest-Bearino Paid at Maturity Discounted Noninterest-Bearing Note Dishonored at Note Dishonored at Maturity Notes Receivable Register Notes Note Payable Note Not Collected at Notes Receivable and Drafts Expenses. Accounts Receivable and Uncollectible Accounts Recording Losses When They Occur-The Direct Charge-Off Method Recording Actual Uncollectible Amounts Collecting an Accounting Providing for Losses Before They Occur-The Allowance That Was Written Off Other Receivables and Bad Debt Losses on the Income Statement Allowance for Uncollectible Accounts on the Balance Sheet Recognizing the Effect of Potential Cash Method Discounts Installment Sales Procedures Recording Defaults on Installment Sales Internal Control of Accounts Receivable Cost Inter Importance of Inventory Valuation Inventory Costing Methods. Market, Whichever Is Lower Inventory Estimation Procedures. Control of Inventories Merchandise Inventory Property, Plant, and Equipment ; Intangible Assets Property, Plant, and Equipment Acquisition of Property, Plant, and Equipment Cost of Using Property, Plant, and Equipment Record Depreciation, Depletion, and Amortization Methods of Computing. Purposes Depletion Disposition of an Asset Intangible. Assets Acquisition of Intangible Assets Amortization of Costs o- Intangible Assets –Bearing.Receivable and Interest Income on the Statements Drafts Trade. Acceptances Internal Control of Notes Receivable Depreciation Depreciation for Federal Income Tax. Internal Control of Property, Plant, and equipment Business Taxes Iyes of Taxes come Taxes Property Taxes Licenses llustration, The Stvle Clohing Sore Taxes Tax Calenxlar Partnership Organization Other Taxes and Sales and Exercise The Nature of Partnerships Fomation of a Partnership Determining the Value of Net Assets Adjustments to Proprietorship Records The Partnership Agreement Dissolving the Sole Proprietorship Partnership Records Partnerships: Profit Division and Equity Accounting. Partner' s Capital Account Partner's Drawing Account Division of Partnership Profits Profit- Sharing Agreement Puting the Plan Into Operation Partnership Equity on the Statements Admitting a New Partner Opening the Characteristics and Formation of a Corporation Characteristics of a Corporation. Legal Aspects of a Corporation. a Coporation Types of Stock Dividends to Stockholders Values of Capital Stock Capital Stock on the Balance Sheet Comparison of Dividend Provisions Financing With Bonds Incorporating a Sole Proprietorship Revaluation of Assets Revaluation Account Transfer of Assets and Liabilities to the Corporation Receipt of Stock From the Corporation Distribution of Stock to the Proprietor and Liabilities by the Corporation Issuance of Stock Costs Balance Sheet Immediately After Organization Corporation Earnings and Capital Transactions Forming Determining Corporate Net Income Net Income and Income Acquisition of Assets Organisation Capital Stock Transactions ; Corporate Records Corporate Records Articles of Incorporation Issuing Stock to the Incorporators Issuing Additional Stock Meeting of the Stockholders Meeting of the Board of Directors Minute Book Stock Certificate Books - Capital Stock Ledger and Procedures Transfer Agent and Registrar Issuing Stock at a Premium Issuing Stock at a Discount Stated Value for No-Par Value Stock Issuing No-Par Value Stock Above Stated Value Subscriptions for Capital Stock Treatment of Payment of : Taxes Statement Presentation Entering Income Taxes and Transferring Net Income Prior Period Adjustments Appropriations of Retained Earnings Dividends Declaration of a Cash Dividend Defaults on Stock Subscriptions Records of Stock Subscriptions Treasury Stock Redemption of Preferred Stock

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ACCOUNTING: BASIC PRINCIPLES Basic Concepts of Accounting The Need for Financial Information The Nature of an Accounting System The Accounting Process Different Types of Business Entities Users of Financial Information Generally Accepted Accounting Principles The major Areas accounting.Analyzing Business Transactions The Importance of Accounting in Business Accounting Begins With Analysis Starting a New Business Renting Facilities Purchasing Equipment for Cash Purchasing Equipment on Credit Purchasing Supplies Paying a Creditor Preparing the Balance Sheet The Fundamental Accounting Equation Effects of Revenue and Expenses Selling Services on Credit Collecting Receivables Paying Expenses The Income Statement The Balance Sheet The Importance of the Setting Up Accounts Accounts for Assets, Liabilities, and Owner's Equity Accounts for Revenue and Expenses The Rules of Debit and Credit The Double Basic Accounting Records Journals The General Journal Ledger Accounts The General Lec Correcting Errors in the Journal and the Ledger The Trial Balance, Adjustments, and the Worksheet The Trial Balance Finding the Balance of an Account Preparing the Trial Balance Errors Revealed by the Trial Balance Errors Not Revealed by the Trial Balance The Worksheet The Financial Statements End-of-Period Procedures. Adjusting Entries Closing Entries The Postclosing Trial Balance. Accounting Cycle Service Business Accounting Cycle.Major Areas of Accounting Statements System Chart of Accounts Permanent and Temporary Accounts Journalizing and Posting Adjusting Entries Accounting for Sales and Accounts Receivable The Accounting Systen of a Merchandising Business The N Need for a Sales Journal Using a Sales Journal Recording Sales Returns and Allowances Reporting Net Sales The Need for an Accounts Receivable Ledger Using an Accounts Receivable Ledger Recording Credit Sales a Wholesale Business Credit Policies Types of Credit Sales Accounting for Sales Involving Credit Card Companies. Accounting for Purchases and Accounts Payable. Purchasing Procedures Internal Control of Purchases The Merchandiso. Purchases Account: The Need for a Purchases Journal Using a Purchases. Journal Recording Freight In Recording Purchases Returns and Allowances Determining the Cost of Purchases The Need for an Accounts Payable Ledger Using an Accounts Payable Ledger Internal Control Over Cash The The Recording Process for Cash. Accounting for Cash.The Nature of Cash Transactions Recording Process for Cash Receipts.Payments The Petty Cash Fund. Banking Procedures and Reconciliations Making Bank Deposits The Deposit Slip Preparing the Deposit Making Payments by Check Reconciling the Bank.Statement Ilustrative Case-Bank Reconciliation Banking Activities. I Internal Control and the Voucher System General Principles of Internal Internal Control of The Need for Internal Control. Control The Voucher System Operating the Voucher System Using. Voucher Register Using the Check Register Preparing a Schedule of Vouchers Payable Transactions Requiring Special Treatment Recordin. Purchase Discounts Lost. Small Business Record Systems. Systems Involving the Combined Journal One-Write Systems. Microcomputer Accounting Systems Payroll Computations, Records, and Payment Objectives of Payroll Work IIlustrative Case-The Kent Novelty.Company Determining Gross Pay for Hourly Employees. From Gross Pay Required by Law Deductions From Gross Pay Not. Required by Law Determining Gross Pay for Salaried. Employees Deductions From Gross PayRecording Payroll Information for Employees The Payroll Register The Accounting Entry for Payroll Paying the Payroll Individual Earnings Records Completing January Payrolls Proving the Individual Earnings Records Recording the Payroll Taxes, Deposits, and Reports Changes in Tax Rates and Bases Deposit of FICA Taxes and Income Taxes Withheld Employer's Quarterly Federal Tax Return Wage and Tax Statements Annual Transmittal of Income and Tax Statements Unemployment Insurance State Unemployment Tax Federal Unemployment Tax Worker's Compensation Insurance Internal Control THE RESULTS OF OPERATIONS Accruals and Deferrals The Accrual Basis Preparation of the Worksheet Recording the Loss From Uncollectible Accounts on the Worksheet Recording Depreciation on the Worksheet Recording Accrued and Prepaid Items on the Worksheet Recording Ending Merchandise Inventory on the Worksheet Preparing the Adjusted Trial Balance The Worksheet and the Financial Statements Entering Adjustments on the Worksheet Completing the Adjusted Trial Balance Section Recording Ending Merchandise Inventory on the Worksheet Preparing the Balance Sheet Section. Statement Section Completing the Worksheet Preparing the Financial Statements The Classified Income Statement The Statement of Owner's Equity The Classified Balance Sheet. Adjusting and Closing Procedures. Preparing the Income Journalizing the Adjusting Entries Posting the Adjusting. Entries Journalizing the Closing Entries Posting the Closing. Entries Preparing a Postclosing Trial Balance Preparing the accounts.The Next Period Reversing Entries Review of the Accounting Cycle Computerized Accounting Systems. Mainframe Computers and Minicomputers Large-Scale Computerized. Accounting Systems Control Techniques EDP Auditing Liability for Unpaid Salaries and Wages Over Payroll Operations Microcomputers as Analytical Tools.The Need for Generally Accepted Accounting Principles The Sources of Generally Accepted Accounting Principles The Present Framework. Accounting Principles. Accounting Principles and Reporting Standards Negotiable Instrumnents Notes Payable Interest Partial Payment of a Renewing a Note Payable Discounting a Note Payable at the Bank Notes Payable Register Notes Payable and Interest Expense on Notes Payable and Interest the Statements Internal Control of Notes Payable Notes Receivable Noninterest-Bearing Note Received Interest- Note Received Partial Collection of a Note Maturity Notes Received at the Time of Sale Discounting a Note Discounted-A Contingent Liability Discounted Noninterest-Bearing Note Receivable Noninterest-Bearing Note Discounted Notes Receivable Maturity Interest-Bearing Note Discounted Discounted Interest-Bearino Paid at Maturity Discounted Noninterest-Bearing Note Dishonored at Note Dishonored at Maturity Notes Receivable Register Notes Note Payable Note Not Collected at Notes Receivable and Drafts Expenses. Accounts Receivable and Uncollectible Accounts Recording Losses When They Occur-The Direct Charge-Off Method Recording Actual Uncollectible Amounts Collecting an Accounting Providing for Losses Before They Occur-The Allowance That Was Written Off Other Receivables and Bad Debt Losses on the Income Statement Allowance for Uncollectible Accounts on the Balance Sheet Recognizing the Effect of Potential Cash Method Discounts Installment Sales Procedures Recording Defaults on Installment Sales Internal Control of Accounts Receivable Cost Inter Importance of Inventory Valuation Inventory Costing Methods. Market, Whichever Is Lower Inventory Estimation Procedures. Control of Inventories Merchandise Inventory Property, Plant, and Equipment ; Intangible Assets Property, Plant, and Equipment Acquisition of Property, Plant, and Equipment Cost of Using Property, Plant, and Equipment Record Depreciation, Depletion, and Amortization Methods of Computing. Purposes Depletion Disposition of an Asset Intangible. Assets Acquisition of Intangible Assets Amortization of Costs o- Intangible Assets –Bearing.Receivable and Interest Income on the Statements Drafts Trade. Acceptances Internal Control of Notes Receivable Depreciation Depreciation for Federal Income Tax. Internal Control of Property, Plant, and equipment Business Taxes Iyes of Taxes come Taxes Property Taxes Licenses llustration, The Stvle Clohing Sore Taxes Tax Calenxlar Partnership Organization Other Taxes and Sales and Exercise The Nature of Partnerships Fomation of a Partnership Determining the Value of Net Assets Adjustments to Proprietorship Records The Partnership Agreement Dissolving the Sole Proprietorship Partnership Records Partnerships: Profit Division and Equity Accounting. Partner' s Capital Account Partner's Drawing Account Division of Partnership Profits Profit- Sharing Agreement Puting the Plan Into Operation Partnership Equity on the Statements Admitting a New Partner Opening the Characteristics and Formation of a Corporation Characteristics of a Corporation. Legal Aspects of a Corporation. a Coporation Types of Stock Dividends to Stockholders Values of Capital Stock Capital Stock on the Balance Sheet Comparison of Dividend Provisions Financing With Bonds Incorporating a Sole Proprietorship Revaluation of Assets Revaluation Account Transfer of Assets and Liabilities to the Corporation Receipt of Stock From the Corporation Distribution of Stock to the Proprietor and Liabilities by the Corporation Issuance of Stock Costs Balance Sheet Immediately After Organization Corporation Earnings and Capital Transactions Forming Determining Corporate Net Income Net Income and Income Acquisition of Assets Organisation Capital Stock Transactions ; Corporate Records Corporate Records Articles of Incorporation Issuing Stock to the Incorporators Issuing Additional Stock Meeting of the Stockholders Meeting of the Board of Directors Minute Book Stock Certificate Books - Capital Stock Ledger and Procedures Transfer Agent and Registrar Issuing Stock at a Premium Issuing Stock at a Discount Stated Value for No-Par Value Stock Issuing No-Par Value Stock Above Stated Value Subscriptions for Capital Stock Treatment of Payment of : Taxes Statement Presentation Entering Income Taxes and Transferring Net Income Prior Period Adjustments Appropriations of Retained Earnings Dividends Declaration of a Cash Dividend Defaults on Stock Subscriptions Records of Stock Subscriptions Treasury Stock Redemption of Preferred Stock

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ACCOUNTING: BASIC PRINCIPLES Basic Concepts of Accounting The Need for Financial Information The Nature of an Accounting System The Accounting Process Different Types of Business Entities Users of Financial Information Generally Accepted Accounting Principles The major Areas accounting.Analyzing Business Transactions The Importance of Accounting in Business Accounting Begins With Analysis Starting a New Business Renting Facilities Purchasing Equipment for Cash Purchasing Equipment on Credit Purchasing Supplies Paying a Creditor Preparing the Balance Sheet The Fundamental Accounting Equation Effects of Revenue and Expenses Selling Services on Credit Collecting Receivables Paying Expenses The Income Statement The Balance Sheet The Importance of the Setting Up Accounts Accounts for Assets, Liabilities, and Owner's Equity Accounts for Revenue and Expenses The Rules of Debit and Credit The Double Basic Accounting Records Journals The General Journal Ledger Accounts The General Lec Correcting Errors in the Journal and the Ledger The Trial Balance, Adjustments, and the Worksheet The Trial Balance Finding the Balance of an Account Preparing the Trial Balance Errors Revealed by the Trial Balance Errors Not Revealed by the Trial Balance The Worksheet The Financial Statements End-of-Period Procedures. Adjusting Entries Closing Entries The Postclosing Trial Balance. Accounting Cycle Service Business Accounting Cycle.Major Areas of Accounting Statements System Chart of Accounts Permanent and Temporary Accounts Journalizing and Posting Adjusting Entries Accounting for Sales and Accounts Receivable The Accounting Systen of a Merchandising Business The N Need for a Sales Journal Using a Sales Journal Recording Sales Returns and Allowances Reporting Net Sales The Need for an Accounts Receivable Ledger Using an Accounts Receivable Ledger Recording Credit Sales a Wholesale Business Credit Policies Types of Credit Sales Accounting for Sales Involving Credit Card Companies. Accounting for Purchases and Accounts Payable. Purchasing Procedures Internal Control of Purchases The Merchandiso. Purchases Account: The Need for a Purchases Journal Using a Purchases. Journal Recording Freight In Recording Purchases Returns and Allowances Determining the Cost of Purchases The Need for an Accounts Payable Ledger Using an Accounts Payable Ledger Internal Control Over Cash The The Recording Process for Cash. Accounting for Cash.The Nature of Cash Transactions Recording Process for Cash Receipts.Payments The Petty Cash Fund. Banking Procedures and Reconciliations Making Bank Deposits The Deposit Slip Preparing the Deposit Making Payments by Check Reconciling the Bank.Statement Ilustrative Case-Bank Reconciliation Banking Activities. I Internal Control and the Voucher System General Principles of Internal Internal Control of The Need for Internal Control. Control The Voucher System Operating the Voucher System Using. Voucher Register Using the Check Register Preparing a Schedule of Vouchers Payable Transactions Requiring Special Treatment Recordin. Purchase Discounts Lost. Small Business Record Systems. Systems Involving the Combined Journal One-Write Systems. Microcomputer Accounting Systems Payroll Computations, Records, and Payment Objectives of Payroll Work IIlustrative Case-The Kent Novelty.Company Determining Gross Pay for Hourly Employees. From Gross Pay Required by Law Deductions From Gross Pay Not. Required by Law Determining Gross Pay for Salaried. Employees Deductions From Gross PayRecording Payroll Information for Employees The Payroll Register The Accounting Entry for Payroll Paying the Payroll Individual Earnings Records Completing January Payrolls Proving the Individual Earnings Records Recording the Payroll Taxes, Deposits, and Reports Changes in Tax Rates and Bases Deposit of FICA Taxes and Income Taxes Withheld Employer's Quarterly Federal Tax Return Wage and Tax Statements Annual Transmittal of Income and Tax Statements Unemployment Insurance State Unemployment Tax Federal Unemployment Tax Worker's Compensation Insurance Internal Control THE RESULTS OF OPERATIONS Accruals and Deferrals The Accrual Basis Preparation of the Worksheet Recording the Loss From Uncollectible Accounts on the Worksheet Recording Depreciation on the Worksheet Recording Accrued and Prepaid Items on the Worksheet Recording Ending Merchandise Inventory on the Worksheet Preparing the Adjusted Trial Balance The Worksheet and the Financial Statements Entering Adjustments on the Worksheet Completing the Adjusted Trial Balance Section Recording Ending Merchandise Inventory on the Worksheet Preparing the Balance Sheet Section. Statement Section Completing the Worksheet Preparing the Financial Statements The Classified Income Statement The Statement of Owner's Equity The Classified Balance Sheet. Adjusting and Closing Procedures. Preparing the Income Journalizing the Adjusting Entries Posting the Adjusting. Entries Journalizing the Closing Entries Posting the Closing. Entries Preparing a Postclosing Trial Balance Preparing the accounts.The Next Period Reversing Entries Review of the Accounting Cycle Computerized Accounting Systems. Mainframe Computers and Minicomputers Large-Scale Computerized. Accounting Systems Control Techniques EDP Auditing Liability for Unpaid Salaries and Wages Over Payroll Operations Microcomputers as Analytical Tools.The Need for Generally Accepted Accounting Principles The Sources of Generally Accepted Accounting Principles The Present Framework. Accounting Principles. Accounting Principles and Reporting Standards Negotiable Instrumnents Notes Payable Interest Partial Payment of a Renewing a Note Payable Discounting a Note Payable at the Bank Notes Payable Register Notes Payable and Interest Expense on Notes Payable and Interest the Statements Internal Control of Notes Payable Notes Receivable Noninterest-Bearing Note Received Interest- Note Received Partial Collection of a Note Maturity Notes Received at the Time of Sale Discounting a Note Discounted-A Contingent Liability Discounted Noninterest-Bearing Note Receivable Noninterest-Bearing Note Discounted Notes Receivable Maturity Interest-Bearing Note Discounted Discounted Interest-Bearino Paid at Maturity Discounted Noninterest-Bearing Note Dishonored at Note Dishonored at Maturity Notes Receivable Register Notes Note Payable Note Not Collected at Notes Receivable and Drafts Expenses. Accounts Receivable and Uncollectible Accounts Recording Losses When They Occur-The Direct Charge-Off Method Recording Actual Uncollectible Amounts Collecting an Accounting Providing for Losses Before They Occur-The Allowance That Was Written Off Other Receivables and Bad Debt Losses on the Income Statement Allowance for Uncollectible Accounts on the Balance Sheet Recognizing the Effect of Potential Cash Method Discounts Installment Sales Procedures Recording Defaults on Installment Sales Internal Control of Accounts Receivable Cost Inter Importance of Inventory Valuation Inventory Costing Methods. Market, Whichever Is Lower Inventory Estimation Procedures. Control of Inventories Merchandise Inventory Property, Plant, and Equipment ; Intangible Assets Property, Plant, and Equipment Acquisition of Property, Plant, and Equipment Cost of Using Property, Plant, and Equipment Record Depreciation, Depletion, and Amortization Methods of Computing. Purposes Depletion Disposition of an Asset Intangible. Assets Acquisition of Intangible Assets Amortization of Costs o- Intangible Assets –Bearing.Receivable and Interest Income on the Statements Drafts Trade. Acceptances Internal Control of Notes Receivable Depreciation Depreciation for Federal Income Tax. Internal Control of Property, Plant, and equipment Business Taxes Iyes of Taxes come Taxes Property Taxes Licenses llustration, The Stvle Clohing Sore Taxes Tax Calenxlar Partnership Organization Other Taxes and Sales and Exercise The Nature of Partnerships Fomation of a Partnership Determining the Value of Net Assets Adjustments to Proprietorship Records The Partnership Agreement Dissolving the Sole Proprietorship Partnership Records Partnerships: Profit Division and Equity Accounting. Partner' s Capital Account Partner's Drawing Account Division of Partnership Profits Profit- Sharing Agreement Puting the Plan Into Operation Partnership Equity on the Statements Admitting a New Partner Opening the Characteristics and Formation of a Corporation Characteristics of a Corporation. Legal Aspects of a Corporation. a Coporation Types of Stock Dividends to Stockholders Values of Capital Stock Capital Stock on the Balance Sheet Comparison of Dividend Provisions Financing With Bonds Incorporating a Sole Proprietorship Revaluation of Assets Revaluation Account Transfer of Assets and Liabilities to the Corporation Receipt of Stock From the Corporation Distribution of Stock to the Proprietor and Liabilities by the Corporation Issuance of Stock Costs Balance Sheet Immediately After Organization Corporation Earnings and Capital Transactions Forming Determining Corporate Net Income Net Income and Income Acquisition of Assets Organisation Capital Stock Transactions ; Corporate Records Corporate Records Articles of Incorporation Issuing Stock to the Incorporators Issuing Additional Stock Meeting of the Stockholders Meeting of the Board of Directors Minute Book Stock Certificate Books - Capital Stock Ledger and Procedures Transfer Agent and Registrar Issuing Stock at a Premium Issuing Stock at a Discount Stated Value for No-Par Value Stock Issuing No-Par Value Stock Above Stated Value Subscriptions for Capital Stock Treatment of Payment of : Taxes Statement Presentation Entering Income Taxes and Transferring Net Income Prior Period Adjustments Appropriations of Retained Earnings Dividends Declaration of a Cash Dividend Defaults on Stock Subscriptions Records of Stock Subscriptions Treasury Stock Redemption of Preferred Stock

📖 Contenu

ACCOUNTING: BASIC PRINCIPLES Basic Concepts of Accounting The Need for Financial Information The Nature of an Accounting System The Accounting Process Different Types of Business Entities Users of Financial Information Generally Accepted Accounting Principles The major Areas accounting.Analyzing Business Transactions The Importance of Accounting in Business Accounting Begins With Analysis Starting a New Business Renting Facilities Purchasing Equipment for Cash Purchasing Equipment on Credit Purchasing Supplies Paying a Creditor Preparing the Balance Sheet The Fundamental Accounting Equation Effects of Revenue and Expenses Selling Services on Credit Collecting Receivables Paying Expenses The Income Statement The Balance Sheet The Importance of the Setting Up Accounts Accounts for Assets, Liabilities, and Owner's Equity Accounts for Revenue and Expenses The Rules of Debit and Credit The Double Basic Accounting Records Journals The General Journal Ledger Accounts The General Lec Correcting Errors in the Journal and the Ledger The Trial Balance, Adjustments, and the Worksheet The Trial Balance Finding the Balance of an Account Preparing the Trial Balance Errors Revealed by the Trial Balance Errors Not Revealed by the Trial Balance The Worksheet The Financial Statements End-of-Period Procedures. Adjusting Entries Closing Entries The Postclosing Trial Balance. Accounting Cycle Service Business Accounting Cycle.Major Areas of Accounting Statements System Chart of Accounts Permanent and Temporary Accounts Journalizing and Posting Adjusting Entries Accounting for Sales and Accounts Receivable The Accounting Systen of a Merchandising Business The N Need for a Sales Journal Using a Sales Journal Recording Sales Returns and Allowances Reporting Net Sales The Need for an Accounts Receivable Ledger Using an Accounts Receivable Ledger Recording Credit Sales a Wholesale Business Credit Policies Types of Credit Sales Accounting for Sales Involving Credit Card Companies. Accounting for Purchases and Accounts Payable. Purchasing Procedures Internal Control of Purchases The Merchandiso. Purchases Account: The Need for a Purchases Journal Using a Purchases. Journal Recording Freight In Recording Purchases Returns and Allowances Determining the Cost of Purchases The Need for an Accounts Payable Ledger Using an Accounts Payable Ledger Internal Control Over Cash The The Recording Process for Cash. Accounting for Cash.The Nature of Cash Transactions Recording Process for Cash Receipts.Payments The Petty Cash Fund. Banking Procedures and Reconciliations Making Bank Deposits The Deposit Slip Preparing the Deposit Making Payments by Check Reconciling the Bank.Statement Ilustrative Case-Bank Reconciliation Banking Activities. I Internal Control and the Voucher System General Principles of Internal Internal Control of The Need for Internal Control. Control The Voucher System Operating the Voucher System Using. Voucher Register Using the Check Register Preparing a Schedule of Vouchers Payable Transactions Requiring Special Treatment Recordin. Purchase Discounts Lost. Small Business Record Systems. Systems Involving the Combined Journal One-Write Systems. Microcomputer Accounting Systems Payroll Computations, Records, and Payment Objectives of Payroll Work IIlustrative Case-The Kent Novelty.Company Determining Gross Pay for Hourly Employees. From Gross Pay Required by Law Deductions From Gross Pay Not. Required by Law Determining Gross Pay for Salaried. Employees Deductions From Gross PayRecording Payroll Information for Employees The Payroll Register The Accounting Entry for Payroll Paying the Payroll Individual Earnings Records Completing January Payrolls Proving the Individual Earnings Records Recording the Payroll Taxes, Deposits, and Reports Changes in Tax Rates and Bases Deposit of FICA Taxes and Income Taxes Withheld Employer's Quarterly Federal Tax Return Wage and Tax Statements Annual Transmittal of Income and Tax Statements Unemployment Insurance State Unemployment Tax Federal Unemployment Tax Worker's Compensation Insurance Internal Control THE RESULTS OF OPERATIONS Accruals and Deferrals The Accrual Basis Preparation of the Worksheet Recording the Loss From Uncollectible Accounts on the Worksheet Recording Depreciation on the Worksheet Recording Accrued and Prepaid Items on the Worksheet Recording Ending Merchandise Inventory on the Worksheet Preparing the Adjusted Trial Balance The Worksheet and the Financial Statements Entering Adjustments on the Worksheet Completing the Adjusted Trial Balance Section Recording Ending Merchandise Inventory on the Worksheet Preparing the Balance Sheet Section. Statement Section Completing the Worksheet Preparing the Financial Statements The Classified Income Statement The Statement of Owner's Equity The Classified Balance Sheet. Adjusting and Closing Procedures. Preparing the Income Journalizing the Adjusting Entries Posting the Adjusting. Entries Journalizing the Closing Entries Posting the Closing. Entries Preparing a Postclosing Trial Balance Preparing the accounts.The Next Period Reversing Entries Review of the Accounting Cycle Computerized Accounting Systems. Mainframe Computers and Minicomputers Large-Scale Computerized. Accounting Systems Control Techniques EDP Auditing Liability for Unpaid Salaries and Wages Over Payroll Operations Microcomputers as Analytical Tools.The Need for Generally Accepted Accounting Principles The Sources of Generally Accepted Accounting Principles The Present Framework. Accounting Principles. Accounting Principles and Reporting Standards Negotiable Instrumnents Notes Payable Interest Partial Payment of a Renewing a Note Payable Discounting a Note Payable at the Bank Notes Payable Register Notes Payable and Interest Expense on Notes Payable and Interest the Statements Internal Control of Notes Payable Notes Receivable Noninterest-Bearing Note Received Interest- Note Received Partial Collection of a Note Maturity Notes Received at the Time of Sale Discounting a Note Discounted-A Contingent Liability Discounted Noninterest-Bearing Note Receivable Noninterest-Bearing Note Discounted Notes Receivable Maturity Interest-Bearing Note Discounted Discounted Interest-Bearino Paid at Maturity Discounted Noninterest-Bearing Note Dishonored at Note Dishonored at Maturity Notes Receivable Register Notes Note Payable Note Not Collected at Notes Receivable and Drafts Expenses. Accounts Receivable and Uncollectible Accounts Recording Losses When They Occur-The Direct Charge-Off Method Recording Actual Uncollectible Amounts Collecting an Accounting Providing for Losses Before They Occur-The Allowance That Was Written Off Other Receivables and Bad Debt Losses on the Income Statement Allowance for Uncollectible Accounts on the Balance Sheet Recognizing the Effect of Potential Cash Method Discounts Installment Sales Procedures Recording Defaults on Installment Sales Internal Control of Accounts Receivable Cost Inter Importance of Inventory Valuation Inventory Costing Methods. Market, Whichever Is Lower Inventory Estimation Procedures. Control of Inventories Merchandise Inventory Property, Plant, and Equipment ; Intangible Assets Property, Plant, and Equipment Acquisition of Property, Plant, and Equipment Cost of Using Property, Plant, and Equipment Record Depreciation, Depletion, and Amortization Methods of Computing. Purposes Depletion Disposition of an Asset Intangible. Assets Acquisition of Intangible Assets Amortization of Costs o- Intangible Assets –Bearing.Receivable and Interest Income on the Statements Drafts Trade. Acceptances Internal Control of Notes Receivable Depreciation Depreciation for Federal Income Tax. Internal Control of Property, Plant, and equipment Business Taxes Iyes of Taxes come Taxes Property Taxes Licenses llustration, The Stvle Clohing Sore Taxes Tax Calenxlar Partnership Organization Other Taxes and Sales and Exercise The Nature of Partnerships Fomation of a Partnership Determining the Value of Net Assets Adjustments to Proprietorship Records The Partnership Agreement Dissolving the Sole Proprietorship Partnership Records Partnerships: Profit Division and Equity Accounting. Partner' s Capital Account Partner's Drawing Account Division of Partnership Profits Profit- Sharing Agreement Puting the Plan Into Operation Partnership Equity on the Statements Admitting a New Partner Opening the Characteristics and Formation of a Corporation Characteristics of a Corporation. Legal Aspects of a Corporation. a Coporation Types of Stock Dividends to Stockholders Values of Capital Stock Capital Stock on the Balance Sheet Comparison of Dividend Provisions Financing With Bonds Incorporating a Sole Proprietorship Revaluation of Assets Revaluation Account Transfer of Assets and Liabilities to the Corporation Receipt of Stock From the Corporation Distribution of Stock to the Proprietor and Liabilities by the Corporation Issuance of Stock Costs Balance Sheet Immediately After Organization Corporation Earnings and Capital Transactions Forming Determining Corporate Net Income Net Income and Income Acquisition of Assets Organisation Capital Stock Transactions ; Corporate Records Corporate Records Articles of Incorporation Issuing Stock to the Incorporators Issuing Additional Stock Meeting of the Stockholders Meeting of the Board of Directors Minute Book Stock Certificate Books - Capital Stock Ledger and Procedures Transfer Agent and Registrar Issuing Stock at a Premium Issuing Stock at a Discount Stated Value for No-Par Value Stock Issuing No-Par Value Stock Above Stated Value Subscriptions for Capital Stock Treatment of Payment of : Taxes Statement Presentation Entering Income Taxes and Transferring Net Income Prior Period Adjustments Appropriations of Retained Earnings Dividends Declaration of a Cash Dividend Defaults on Stock Subscriptions Records of Stock Subscriptions Treasury Stock Redemption of Preferred Stock

📖 Contenu

ACCOUNTING: BASIC PRINCIPLES Basic Concepts of Accounting The Need for Financial Information The Nature of an Accounting System The Accounting Process Different Types of Business Entities Users of Financial Information Generally Accepted Accounting Principles The major Areas accounting.Analyzing Business Transactions The Importance of Accounting in Business Accounting Begins With Analysis Starting a New Business Renting Facilities Purchasing Equipment for Cash Purchasing Equipment on Credit Purchasing Supplies Paying a Creditor Preparing the Balance Sheet The Fundamental Accounting Equation Effects of Revenue and Expenses Selling Services on Credit Collecting Receivables Paying Expenses The Income Statement The Balance Sheet The Importance of the Setting Up Accounts Accounts for Assets, Liabilities, and Owner's Equity Accounts for Revenue and Expenses The Rules of Debit and Credit The Double Basic Accounting Records Journals The General Journal Ledger Accounts The General Lec Correcting Errors in the Journal and the Ledger The Trial Balance, Adjustments, and the Worksheet The Trial Balance Finding the Balance of an Account Preparing the Trial Balance Errors Revealed by the Trial Balance Errors Not Revealed by the Trial Balance The Worksheet The Financial Statements End-of-Period Procedures. Adjusting Entries Closing Entries The Postclosing Trial Balance. Accounting Cycle Service Business Accounting Cycle.Major Areas of Accounting Statements System Chart of Accounts Permanent and Temporary Accounts Journalizing and Posting Adjusting Entries Accounting for Sales and Accounts Receivable The Accounting Systen of a Merchandising Business The N Need for a Sales Journal Using a Sales Journal Recording Sales Returns and Allowances Reporting Net Sales The Need for an Accounts Receivable Ledger Using an Accounts Receivable Ledger Recording Credit Sales a Wholesale Business Credit Policies Types of Credit Sales Accounting for Sales Involving Credit Card Companies. Accounting for Purchases and Accounts Payable. Purchasing Procedures Internal Control of Purchases The Merchandiso. Purchases Account: The Need for a Purchases Journal Using a Purchases. Journal Recording Freight In Recording Purchases Returns and Allowances Determining the Cost of Purchases The Need for an Accounts Payable Ledger Using an Accounts Payable Ledger Internal Control Over Cash The The Recording Process for Cash. Accounting for Cash.The Nature of Cash Transactions Recording Process for Cash Receipts.Payments The Petty Cash Fund. Banking Procedures and Reconciliations Making Bank Deposits The Deposit Slip Preparing the Deposit Making Payments by Check Reconciling the Bank.Statement Ilustrative Case-Bank Reconciliation Banking Activities. I Internal Control and the Voucher System General Principles of Internal Internal Control of The Need for Internal Control. Control The Voucher System Operating the Voucher System Using. Voucher Register Using the Check Register Preparing a Schedule of Vouchers Payable Transactions Requiring Special Treatment Recordin. Purchase Discounts Lost. Small Business Record Systems. Systems Involving the Combined Journal One-Write Systems. Microcomputer Accounting Systems Payroll Computations, Records, and Payment Objectives of Payroll Work IIlustrative Case-The Kent Novelty.Company Determining Gross Pay for Hourly Employees. From Gross Pay Required by Law Deductions From Gross Pay Not. Required by Law Determining Gross Pay for Salaried. Employees Deductions From Gross PayRecording Payroll Information for Employees The Payroll Register The Accounting Entry for Payroll Paying the Payroll Individual Earnings Records Completing January Payrolls Proving the Individual Earnings Records Recording the Payroll Taxes, Deposits, and Reports Changes in Tax Rates and Bases Deposit of FICA Taxes and Income Taxes Withheld Employer's Quarterly Federal Tax Return Wage and Tax Statements Annual Transmittal of Income and Tax Statements Unemployment Insurance State Unemployment Tax Federal Unemployment Tax Worker's Compensation Insurance Internal Control THE RESULTS OF OPERATIONS Accruals and Deferrals The Accrual Basis Preparation of the Worksheet Recording the Loss From Uncollectible Accounts on the Worksheet Recording Depreciation on the Worksheet Recording Accrued and Prepaid Items on the Worksheet Recording Ending Merchandise Inventory on the Worksheet Preparing the Adjusted Trial Balance The Worksheet and the Financial Statements Entering Adjustments on the Worksheet Completing the Adjusted Trial Balance Section Recording Ending Merchandise Inventory on the Worksheet Preparing the Balance Sheet Section. Statement Section Completing the Worksheet Preparing the Financial Statements The Classified Income Statement The Statement of Owner's Equity The Classified Balance Sheet. Adjusting and Closing Procedures. Preparing the Income Journalizing the Adjusting Entries Posting the Adjusting. Entries Journalizing the Closing Entries Posting the Closing. Entries Preparing a Postclosing Trial Balance Preparing the accounts.The Next Period Reversing Entries Review of the Accounting Cycle Computerized Accounting Systems. Mainframe Computers and Minicomputers Large-Scale Computerized. Accounting Systems Control Techniques EDP Auditing Liability for Unpaid Salaries and Wages Over Payroll Operations Microcomputers as Analytical Tools.The Need for Generally Accepted Accounting Principles The Sources of Generally Accepted Accounting Principles The Present Framework. Accounting Principles. Accounting Principles and Reporting Standards Negotiable Instrumnents Notes Payable Interest Partial Payment of a Renewing a Note Payable Discounting a Note Payable at the Bank Notes Payable Register Notes Payable and Interest Expense on Notes Payable and Interest the Statements Internal Control of Notes Payable Notes Receivable Noninterest-Bearing Note Received Interest- Note Received Partial Collection of a Note Maturity Notes Received at the Time of Sale Discounting a Note Discounted-A Contingent Liability Discounted Noninterest-Bearing Note Receivable Noninterest-Bearing Note Discounted Notes Receivable Maturity Interest-Bearing Note Discounted Discounted Interest-Bearino Paid at Maturity Discounted Noninterest-Bearing Note Dishonored at Note Dishonored at Maturity Notes Receivable Register Notes Note Payable Note Not Collected at Notes Receivable and Drafts Expenses. Accounts Receivable and Uncollectible Accounts Recording Losses When They Occur-The Direct Charge-Off Method Recording Actual Uncollectible Amounts Collecting an Accounting Providing for Losses Before They Occur-The Allowance That Was Written Off Other Receivables and Bad Debt Losses on the Income Statement Allowance for Uncollectible Accounts on the Balance Sheet Recognizing the Effect of Potential Cash Method Discounts Installment Sales Procedures Recording Defaults on Installment Sales Internal Control of Accounts Receivable Cost Inter Importance of Inventory Valuation Inventory Costing Methods. Market, Whichever Is Lower Inventory Estimation Procedures. Control of Inventories Merchandise Inventory Property, Plant, and Equipment ; Intangible Assets Property, Plant, and Equipment Acquisition of Property, Plant, and Equipment Cost of Using Property, Plant, and Equipment Record Depreciation, Depletion, and Amortization Methods of Computing. Purposes Depletion Disposition of an Asset Intangible. Assets Acquisition of Intangible Assets Amortization of Costs o- Intangible Assets –Bearing.Receivable and Interest Income on the Statements Drafts Trade. Acceptances Internal Control of Notes Receivable Depreciation Depreciation for Federal Income Tax. Internal Control of Property, Plant, and equipment Business Taxes Iyes of Taxes come Taxes Property Taxes Licenses llustration, The Stvle Clohing Sore Taxes Tax Calenxlar Partnership Organization Other Taxes and Sales and Exercise The Nature of Partnerships Fomation of a Partnership Determining the Value of Net Assets Adjustments to Proprietorship Records The Partnership Agreement Dissolving the Sole Proprietorship Partnership Records Partnerships: Profit Division and Equity Accounting. Partner' s Capital Account Partner's Drawing Account Division of Partnership Profits Profit- Sharing Agreement Puting the Plan Into Operation Partnership Equity on the Statements Admitting a New Partner Opening the Characteristics and Formation of a Corporation Characteristics of a Corporation. Legal Aspects of a Corporation. a Coporation Types of Stock Dividends to Stockholders Values of Capital Stock Capital Stock on the Balance Sheet Comparison of Dividend Provisions Financing With Bonds Incorporating a Sole Proprietorship Revaluation of Assets Revaluation Account Transfer of Assets and Liabilities to the Corporation Receipt of Stock From the Corporation Distribution of Stock to the Proprietor and Liabilities by the Corporation Issuance of Stock Costs Balance Sheet Immediately After Organization Corporation Earnings and Capital Transactions Forming Determining Corporate Net Income Net Income and Income Acquisition of Assets Organisation Capital Stock Transactions ; Corporate Records Corporate Records Articles of Incorporation Issuing Stock to the Incorporators Issuing Additional Stock Meeting of the Stockholders Meeting of the Board of Directors Minute Book Stock Certificate Books - Capital Stock Ledger and Procedures Transfer Agent and Registrar Issuing Stock at a Premium Issuing Stock at a Discount Stated Value for No-Par Value Stock Issuing No-Par Value Stock Above Stated Value Subscriptions for Capital Stock Treatment of Payment of : Taxes Statement Presentation Entering Income Taxes and Transferring Net Income Prior Period Adjustments Appropriations of Retained Earnings Dividends Declaration of a Cash Dividend Defaults on Stock Subscriptions Records of Stock Subscriptions Treasury Stock Redemption of Preferred Stock

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Notes to the Instructor ix Acknowledgments vii About the Authors xii PART I THE BASICS 1 INTRODUCING MONEY 3 The Supply of Money 4 Who Determines Our Money Supply? 6 The Importance of Money I: Money Versus Bartex8 The Importance of Money II: Financial Institutions and Mas Preview 12 Summary /Questions/ Suggestions for Further Bening 2 MONEY, THE ECONOMY, AND INFLATION 15 Money Supply 15 Money Supply Be? Bank Reserves and the How Large Should the Velocity: The Missing Link Money and Inflation 20 INFLATION IN BoLJVLA WAS 11.709 Box: CAN Ir HAPPEN HERE? IN 1985, Summary Questuons / Suggestions for Further Reading PERCENT 22 3 FINANCIAL INSTRUMENTS AND MARKETS 25 The Nature of Financial Markets 25 Bonds Represent Borrowing 28 Stocks Represent Ownership 29 Mortgages Involve Real Estate 30 Options and Futures Contracts The Capital Market 33 The Money Market 34 Summary / Questions / Suggestions for Further Reading 4 FINANCIAL INSTITUTIONS: PURPOSES AND PROFILE 38 The Role of Financial Intermediaries 38 Financial Institutions in Profile 40 Financial Institutions Are Becoming More Alike 45 Summary Questions / Suggestions for Further Reading 5 CALCULATING INWTEREST RATES 48 Simple Interest 48 Compound Interest 49 Coupon Rate on Bonds 51 Yield 51 Current Yield to Maturıty 52 Holdıng Period Yueld 54 Box THe MILuoN DouAR LoTERY: A CASE OF MisLRADENG ADVERTISoNC 55 ZeroCoupon Bonds 56 Treasury Bills 57 The Inverse Relationship between Yields and Bond Prces Why LongTerm Bonds Are Rskier Than Shorts Nominal versun Real interest Rate 0 Sumnary Questsons St far Farther Rends HE LEVE OF INTEREST RATES 63 Satply and Detmand otetmiN the lnterot Rate Why lh he leervt Hale wiate Rehind Aupply nd Demand 6A The Importanc uf Expetatios 69 Sugstons for Further Reoding PART I INTERMEDIARIES AND BANKS 7 TNE REGULATION AND STRUCTURE OF DEPOSITORY INsTITUTIONS 75 The Dual Banking System 75 Multiple Federal Authorities 78 Deposit Insurance and the FDIC 79 Bank Size Distribution and the McFadden Act 83 Do the Giant Banks Pose a Monopoly Threat? 86 Savings Banks and Savings and Loan Associations The Savings and Loan (risis 89 Mortgage-Related Financial Institutions 91 Credit Unions 92 Money Market Mutual Funds 93 Regulation Q: Requiescat in Puce 93 Box: THE CURRENT FEDERAL. REGULATORY STRUCTURE IN BRIEF 94 Summary / Questions / Suggestions for Further Reuding 8 COMMERCIAL BANK ASSET AND LIABILITY MANAGEMENT 101 Uses of Bank Funds 102 Sources of' Bank Funds 104 Bank Capital 107 Liquidity and Profitability 108 Liability Management 110 Interest Rate Risk and Floating Rate Loans 112 Discretionary Funds Management 113 Appendix: Managing a Bank's Money Position 116 Summary / Questions / Suggestions for Further Reading 9 NONDEPOSIT FINANCIAL INSTITUTIONS 124 Life Insurance Companies 124 Pension Funds 126 Property and Casualty Insurance Companies 129 Mutual Funds 129 Securities Brokers and Dealers and Investment Bankers 121 The Glass-Steagall Act 132 /Questions / Suggestions for Further Reading Summary 10 INTERNATIONAL BANKING 138 American Banks Abroad 138 Foreign Banks in the United States 139 Eurodollars 140 American Banks and the International Debt Problem Box: DoN'T THROW AWAY THOSE OLD CZARIST BoNDS! 141 Domestically Based International Banking Facilities Summary /Questions / Suggestions for Further Reading 11 FINANCIAL INNOVATION 147 Circumventing Regulation 148 Double-Digit Inflation 149 The Philosophy of Deregulation 153 Legislative Encouragement 151 Computer-Inspired Technological Change 154 Necessity Is the Mother of Invention 155 Summary /Questions / Suggestions for Further Reading 12 THE PAYMENTS SYSTEM 158 From Currency to Electronic Computer Blips 158 The Electronic Payments System of the Future 161 Summary /Questions / Suggestions for Further Reading PART II THE ART OF CENTRAL BANKING 13 WHOʻS IN CHARGE HERE? 169 Formal Structure of the Federal Reserve System 170 The Realities of Power 173 The Problem of Federal Reserve Independence 177 Summary /Questions / Suggestions for Further Reading 14 BANK RESERVES AND THE MONEY SUPPLY 181 Deposit Expansion: The Single Bank 185 Check Clearing and Collection 182 Summary / Questions / Suggestions for Further Reading Appendix: Three Complications 195 Deposit Expansion: The Banking Syste Deposit Contraction 15 THE INSTRUMENTS OF CENTRAL BAWKING 204 Discounting and the Discount Rate 207 Reserve Requirements 204 The Discount Rate and Market Interest Rates 210 Open Market Operations 212 Summary / Questions / Suggestions for Further Reading Conducting Open Market Operations 216 16 UNDERSTANDING MOVEMENNTS IN BANK RESERVES 221 The Fed's Balance Sheet 222 The U.S. Treasury's Monetary Accounts 230 The Bank Reserve Equation 231 Putting It All to Use 233 Focusing on the Monetary Base 234 Summary /Questions / Suggestions for Further Reading 17 HITTING THE MONETARY TARGETS 237 The FOMC Directive 238 Operating Targets: Reserves and the Federal Funds Rate 242 Intermediate Targets: Which Money Supply? 245 The Fed's Strategy 241 The Fed's Track Record 248 Summary /Questions / Suggestions for Further Reading 18 BUDGET DEFICITS AND THE MONEY SUPPLY 253 Financing Government Spending 253 Summary / Questions / Suggestions for Further Reading Can a Deficit Subvert Monetary Policy? 259 RT IV MONETARY THEORY 19 THE FOUNDATIONS OF MONETARISM 267 Say's Law 268 Classical Interest Theory 269 The Quantity Theory of Money Demand and the Quantity Theory 276 Aggregate Demand and Supply: A Summary 277 Real versus Nominal Rates of Interest 280 Money 272 Modern Monetarist Modifications Box: THE MONEY SUPPLY AND THE GREAT DEPRESSION 282 Summary /Questions / Suggestions for Further Reading Appendix: GNP Definitions and Relationships 287 20 THE KEYNESIAN FRAMEWORK 294 When Saving Doesn't Equal Investment 296 Consumption and Simple GNP Determination 297 Changes in GNP 301 Autonomous versus Induced Changes in GNP 305 Government to the Rescue 306 Money and the Rate of Interest 309 Monetary Policy 313 Box: MoNEY AND CREDIT ARE NoT THE SAME THING 316 Transactions Demand and Monetary Policy 318 Expectations and Monetary Policy 322 Aggregate Demand and Supply 323 Summary / Questions / Suggestions for Further Reading 21 THE ISLM WORLD 329 Money, Interest, and Income All About LM 332 Monetary Policy and the LM Curve 334 The Goods Market 336 All About IS 339 The Simultaneous Determination of Income and Interest: IS and LM Together 343 Monetary and Fiscal Policy 345 Keynes and the Classics 350 When Will Full Employment Prevail? 353 ISLM and Aggregate Demand 357 Summary /Questions / Suggestions for Further Reading Appendix: The Simple Algebra of Income Determination 361 22 MONETARISTS AND KEYNESIANS IN THE ISLM WORLD 366 Monetary Policy, Fiscal Policy, and Crowding Out 367 Is the Private Sector Inherently Stable?. 874 Flexible Prices, the Natural Rate of lnterest, and Real Crowding Inflation Out Summar / Questions / Sugyestions for Further Reading Appendiw: Interest Rates versus the Money Supply Under Uncertainty 386 23 MONETARISTS AND KEYNESIANS: AN AGGREGATE SUPPLY AND DEMAND PERSPECTIVE 391 Monetary Policy, Fiscal Policy, and Crowding Out Is the Private Sector Inherently Stable? 392 Box: THE CRASH OF 87: A PoLICY DILEMMA 399 Inflation, Money, and the Phillips Curve Should a Robot Replace the Federal Reserve? 407 Summary /Questions / Suggestions for Further Reading Inflation and Interest Rates 403 24 RATIONAL EXPECTATIONS: THEORY AND POLICY IMPLICATIONS 414 When Are Expectations Rational? 415 Anticipated versus Unanticipated Monetary Policy Implications for Stabilization Policy 419 Interest Rates and Anticipated Monetary Policy 423 Inflation, the Phillips Curve, and Credibility 420 Summary /Questions / Suggestions for Further Reading 25 EMPIRICAL EVIDEWCE ON THE EFFECTIVENESS OF MONETARY POLICY 426 Living with Velocity 426 The Demand for Money 430 Computer Simulations and Time Lags 432 Box: TAKING THE PULSE OF THE EcONOMY 433 The Impact of Monetary Policy on GNP 434 Fiscal Policy and Crowding Out 436 The Impact of Money on Interest Rates 437 Business Investment 439 Residential Construction 440 Consumer Spending 440 Summary /Questions / Suggestions for Further Reading 26 RISK AND PORTFOLIO CHOICE A World of Certainty 447 Risk Aversion and Portfolio Analysis 450 Portfolio Selection 452 Sources of Uncertainty 448 Questions Sugstions for Further Reading Some Implications for Financial Markets 455 Su mmar 27 FLOw OF FUNDS ACCOUNTING: A FRAMEWORK FOR FINANCIAL ANALYSIs 452 A Generalized Sector Income Statement 460 A Generalized Sector Balance Sheet 461 Converting Balance Sheer Stocks to Flows: Saving and Converting Balance Sheet Stocks to Flows: Borrowing, Lending, and Hoarding 464 Investment 462 A Complete Sector Sources and Uses of Funds Statement 466 Tae Flow of Funds Matrix for the Whole Economy 468 S.r.man Questiors Suggestions for Further Readıng 28 THE STRUCTURE OF INTEREST RATES 471 The Tern Strucure of Rates and the Yield Curve 471 Tae Pole of Taxes and Markerability Yelds on Corporaes, Municipals, and Mortgages 481 Qustims Sggestions for Further Realing Apperdix: Borc Price VolatiJity: Duration versus Maturity 488 29 THE STRUCTURE AND PERFORMANCE OF SECURITIES MARKETS 49Z Nre ard funan f Securities Markets 492 Pr.asy yersus Sedary Markets 495 Licer t Semdary Market Trading 497 ktceot Ceyitai Mrkts and Rguiatwn B4 Sumisaw) /t / Bugew fur urthw lodug CONTENTS 30 THE GOVERNMENT SECURITIES MARKET 509 Federal Deficits und the National Debt Types of Securities 510 Who Buys the Securities? 511 How the Market Works 512 Calculating Yields Once Again 513 Treasury Bills: Auctions and Yields 515 Repurchase Agreements 517 Box: READING THE FINANCIAL NEws: GovERNMENT BoND MARKET QUOTATIONS 518 Summary / Questions / Suggestions for Further Reading The Treasury's Debt Management Decision 31 oTHER FIXED-INCOME MARKETS: CORPORATE BONDS, MUNICIPALS, AND MORTGAGES 523 Corporate Bonds 523 Box: READING THE FINANCIAL NEWS: CoRPORATE BOND MARKET QUOTATIONS Commercial Paper 527 Municipal Bonds 529 Short-Term Municipals Mortgage Trading: Pools and Participations 531 Summary /Questions / Suggestions for Further Reading 32 EQUITIES, THE STOCK MARKET, AND INTEREST RATES 535 Structure of the Stock Market 535 Box: READING THE FINANCIAL NEWS: STOCK MARKET QUOTATIONS 536 Computers, Communications, and Stock Trading 537 Box: GLOBAL TRADING 539 The Money Supply and Stock Prices 540 Box: How Goop Is THE Dow JoNEs? 542 Monetary Policy and the Stock Market 545 Summary /Questions / Suggestions for Further Reading 33 FINANCIAL FUTURES AND OPTIONS 549 An Overview of Financial Futures 550 Box: READING THE FINANCIAL NEWS: FINANCIAL FUTUREs QUOTATIONS 553 Using Financial Futures Contracts l'sing and \'auiny 0pio hil M INTERNATIONAL FINANCE 34 FOREIGN EXCHANGE RATES 67 The Etect ot' the Balance of Paymenta on Cxchunge atuN b Box: RrADINQ THE FNANOAL, NEWS: PoueaN xWANi QUWAIONS tUy The Etteet of Exchange Rates on the Bulanve of Puynenta buA Still to Come 576 Summary Questhons Sugestions fin urther ieuding FIXED VERSUS FLOATING EXCHANGE RATES 578 How Fixed Rates Were Maintained 679 International Financial Crises Domestic Stabilization Policies Under Fixed and onting Exchange Rates 582 Summary /Questions / Suggestions for Further Realing Managed Floating 584 36 BALANCE OF PAYMENWTS ACCOUNTING 588 Sources and Uses Once Again 588 Does It Really Balance? 591 Measure for Measure (or As You Like It) 592 Summary /Questions / Suggestions for Further Reading 37 THE GOLD STANDARD 598 An Island Paradise 598 The Gold Standard Domestically 600 The Gold Standard Internationally 603 Box: Is GoLD A GooD INVESTMENT? 604 Will the Gold Standard Make a Comeback? 606

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Notes to the Instructor ix Acknowledgments vii About the Authors xii PART I THE BASICS 1 INTRODUCING MONEY 3 The Supply of Money 4 Who Determines Our Money Supply? 6 The Importance of Money I: Money Versus Bartex8 The Importance of Money II: Financial Institutions and Mas Preview 12 Summary /Questions/ Suggestions for Further Bening 2 MONEY, THE ECONOMY, AND INFLATION 15 Money Supply 15 Money Supply Be? Bank Reserves and the How Large Should the Velocity: The Missing Link Money and Inflation 20 INFLATION IN BoLJVLA WAS 11.709 Box: CAN Ir HAPPEN HERE? IN 1985, Summary Questuons / Suggestions for Further Reading PERCENT 22 3 FINANCIAL INSTRUMENTS AND MARKETS 25 The Nature of Financial Markets 25 Bonds Represent Borrowing 28 Stocks Represent Ownership 29 Mortgages Involve Real Estate 30 Options and Futures Contracts The Capital Market 33 The Money Market 34 Summary / Questions / Suggestions for Further Reading 4 FINANCIAL INSTITUTIONS: PURPOSES AND PROFILE 38 The Role of Financial Intermediaries 38 Financial Institutions in Profile 40 Financial Institutions Are Becoming More Alike 45 Summary Questions / Suggestions for Further Reading 5 CALCULATING INWTEREST RATES 48 Simple Interest 48 Compound Interest 49 Coupon Rate on Bonds 51 Yield 51 Current Yield to Maturıty 52 Holdıng Period Yueld 54 Box THe MILuoN DouAR LoTERY: A CASE OF MisLRADENG ADVERTISoNC 55 ZeroCoupon Bonds 56 Treasury Bills 57 The Inverse Relationship between Yields and Bond Prces Why LongTerm Bonds Are Rskier Than Shorts Nominal versun Real interest Rate 0 Sumnary Questsons St far Farther Rends HE LEVE OF INTEREST RATES 63 Satply and Detmand otetmiN the lnterot Rate Why lh he leervt Hale wiate Rehind Aupply nd Demand 6A The Importanc uf Expetatios 69 Sugstons for Further Reoding PART I INTERMEDIARIES AND BANKS 7 TNE REGULATION AND STRUCTURE OF DEPOSITORY INsTITUTIONS 75 The Dual Banking System 75 Multiple Federal Authorities 78 Deposit Insurance and the FDIC 79 Bank Size Distribution and the McFadden Act 83 Do the Giant Banks Pose a Monopoly Threat? 86 Savings Banks and Savings and Loan Associations The Savings and Loan (risis 89 Mortgage-Related Financial Institutions 91 Credit Unions 92 Money Market Mutual Funds 93 Regulation Q: Requiescat in Puce 93 Box: THE CURRENT FEDERAL. REGULATORY STRUCTURE IN BRIEF 94 Summary / Questions / Suggestions for Further Reuding 8 COMMERCIAL BANK ASSET AND LIABILITY MANAGEMENT 101 Uses of Bank Funds 102 Sources of' Bank Funds 104 Bank Capital 107 Liquidity and Profitability 108 Liability Management 110 Interest Rate Risk and Floating Rate Loans 112 Discretionary Funds Management 113 Appendix: Managing a Bank's Money Position 116 Summary / Questions / Suggestions for Further Reading 9 NONDEPOSIT FINANCIAL INSTITUTIONS 124 Life Insurance Companies 124 Pension Funds 126 Property and Casualty Insurance Companies 129 Mutual Funds 129 Securities Brokers and Dealers and Investment Bankers 121 The Glass-Steagall Act 132 /Questions / Suggestions for Further Reading Summary 10 INTERNATIONAL BANKING 138 American Banks Abroad 138 Foreign Banks in the United States 139 Eurodollars 140 American Banks and the International Debt Problem Box: DoN'T THROW AWAY THOSE OLD CZARIST BoNDS! 141 Domestically Based International Banking Facilities Summary /Questions / Suggestions for Further Reading 11 FINANCIAL INNOVATION 147 Circumventing Regulation 148 Double-Digit Inflation 149 The Philosophy of Deregulation 153 Legislative Encouragement 151 Computer-Inspired Technological Change 154 Necessity Is the Mother of Invention 155 Summary /Questions / Suggestions for Further Reading 12 THE PAYMENTS SYSTEM 158 From Currency to Electronic Computer Blips 158 The Electronic Payments System of the Future 161 Summary /Questions / Suggestions for Further Reading PART II THE ART OF CENTRAL BANKING 13 WHOʻS IN CHARGE HERE? 169 Formal Structure of the Federal Reserve System 170 The Realities of Power 173 The Problem of Federal Reserve Independence 177 Summary /Questions / Suggestions for Further Reading 14 BANK RESERVES AND THE MONEY SUPPLY 181 Deposit Expansion: The Single Bank 185 Check Clearing and Collection 182 Summary / Questions / Suggestions for Further Reading Appendix: Three Complications 195 Deposit Expansion: The Banking Syste Deposit Contraction 15 THE INSTRUMENTS OF CENTRAL BAWKING 204 Discounting and the Discount Rate 207 Reserve Requirements 204 The Discount Rate and Market Interest Rates 210 Open Market Operations 212 Summary / Questions / Suggestions for Further Reading Conducting Open Market Operations 216 16 UNDERSTANDING MOVEMENNTS IN BANK RESERVES 221 The Fed's Balance Sheet 222 The U.S. Treasury's Monetary Accounts 230 The Bank Reserve Equation 231 Putting It All to Use 233 Focusing on the Monetary Base 234 Summary /Questions / Suggestions for Further Reading 17 HITTING THE MONETARY TARGETS 237 The FOMC Directive 238 Operating Targets: Reserves and the Federal Funds Rate 242 Intermediate Targets: Which Money Supply? 245 The Fed's Strategy 241 The Fed's Track Record 248 Summary /Questions / Suggestions for Further Reading 18 BUDGET DEFICITS AND THE MONEY SUPPLY 253 Financing Government Spending 253 Summary / Questions / Suggestions for Further Reading Can a Deficit Subvert Monetary Policy? 259 RT IV MONETARY THEORY 19 THE FOUNDATIONS OF MONETARISM 267 Say's Law 268 Classical Interest Theory 269 The Quantity Theory of Money Demand and the Quantity Theory 276 Aggregate Demand and Supply: A Summary 277 Real versus Nominal Rates of Interest 280 Money 272 Modern Monetarist Modifications Box: THE MONEY SUPPLY AND THE GREAT DEPRESSION 282 Summary /Questions / Suggestions for Further Reading Appendix: GNP Definitions and Relationships 287 20 THE KEYNESIAN FRAMEWORK 294 When Saving Doesn't Equal Investment 296 Consumption and Simple GNP Determination 297 Changes in GNP 301 Autonomous versus Induced Changes in GNP 305 Government to the Rescue 306 Money and the Rate of Interest 309 Monetary Policy 313 Box: MoNEY AND CREDIT ARE NoT THE SAME THING 316 Transactions Demand and Monetary Policy 318 Expectations and Monetary Policy 322 Aggregate Demand and Supply 323 Summary / Questions / Suggestions for Further Reading 21 THE ISLM WORLD 329 Money, Interest, and Income All About LM 332 Monetary Policy and the LM Curve 334 The Goods Market 336 All About IS 339 The Simultaneous Determination of Income and Interest: IS and LM Together 343 Monetary and Fiscal Policy 345 Keynes and the Classics 350 When Will Full Employment Prevail? 353 ISLM and Aggregate Demand 357 Summary /Questions / Suggestions for Further Reading Appendix: The Simple Algebra of Income Determination 361 22 MONETARISTS AND KEYNESIANS IN THE ISLM WORLD 366 Monetary Policy, Fiscal Policy, and Crowding Out 367 Is the Private Sector Inherently Stable?. 874 Flexible Prices, the Natural Rate of lnterest, and Real Crowding Inflation Out Summar / Questions / Sugyestions for Further Reading Appendiw: Interest Rates versus the Money Supply Under Uncertainty 386 23 MONETARISTS AND KEYNESIANS: AN AGGREGATE SUPPLY AND DEMAND PERSPECTIVE 391 Monetary Policy, Fiscal Policy, and Crowding Out Is the Private Sector Inherently Stable? 392 Box: THE CRASH OF 87: A PoLICY DILEMMA 399 Inflation, Money, and the Phillips Curve Should a Robot Replace the Federal Reserve? 407 Summary /Questions / Suggestions for Further Reading Inflation and Interest Rates 403 24 RATIONAL EXPECTATIONS: THEORY AND POLICY IMPLICATIONS 414 When Are Expectations Rational? 415 Anticipated versus Unanticipated Monetary Policy Implications for Stabilization Policy 419 Interest Rates and Anticipated Monetary Policy 423 Inflation, the Phillips Curve, and Credibility 420 Summary /Questions / Suggestions for Further Reading 25 EMPIRICAL EVIDEWCE ON THE EFFECTIVENESS OF MONETARY POLICY 426 Living with Velocity 426 The Demand for Money 430 Computer Simulations and Time Lags 432 Box: TAKING THE PULSE OF THE EcONOMY 433 The Impact of Monetary Policy on GNP 434 Fiscal Policy and Crowding Out 436 The Impact of Money on Interest Rates 437 Business Investment 439 Residential Construction 440 Consumer Spending 440 Summary /Questions / Suggestions for Further Reading 26 RISK AND PORTFOLIO CHOICE A World of Certainty 447 Risk Aversion and Portfolio Analysis 450 Portfolio Selection 452 Sources of Uncertainty 448 Questions Sugstions for Further Reading Some Implications for Financial Markets 455 Su mmar 27 FLOw OF FUNDS ACCOUNTING: A FRAMEWORK FOR FINANCIAL ANALYSIs 452 A Generalized Sector Income Statement 460 A Generalized Sector Balance Sheet 461 Converting Balance Sheer Stocks to Flows: Saving and Converting Balance Sheet Stocks to Flows: Borrowing, Lending, and Hoarding 464 Investment 462 A Complete Sector Sources and Uses of Funds Statement 466 Tae Flow of Funds Matrix for the Whole Economy 468 S.r.man Questiors Suggestions for Further Readıng 28 THE STRUCTURE OF INTEREST RATES 471 The Tern Strucure of Rates and the Yield Curve 471 Tae Pole of Taxes and Markerability Yelds on Corporaes, Municipals, and Mortgages 481 Qustims Sggestions for Further Realing Apperdix: Borc Price VolatiJity: Duration versus Maturity 488 29 THE STRUCTURE AND PERFORMANCE OF SECURITIES MARKETS 49Z Nre ard funan f Securities Markets 492 Pr.asy yersus Sedary Markets 495 Licer t Semdary Market Trading 497 ktceot Ceyitai Mrkts and Rguiatwn B4 Sumisaw) /t / Bugew fur urthw lodug CONTENTS 30 THE GOVERNMENT SECURITIES MARKET 509 Federal Deficits und the National Debt Types of Securities 510 Who Buys the Securities? 511 How the Market Works 512 Calculating Yields Once Again 513 Treasury Bills: Auctions and Yields 515 Repurchase Agreements 517 Box: READING THE FINANCIAL NEws: GovERNMENT BoND MARKET QUOTATIONS 518 Summary / Questions / Suggestions for Further Reading The Treasury's Debt Management Decision 31 oTHER FIXED-INCOME MARKETS: CORPORATE BONDS, MUNICIPALS, AND MORTGAGES 523 Corporate Bonds 523 Box: READING THE FINANCIAL NEWS: CoRPORATE BOND MARKET QUOTATIONS Commercial Paper 527 Municipal Bonds 529 Short-Term Municipals Mortgage Trading: Pools and Participations 531 Summary /Questions / Suggestions for Further Reading 32 EQUITIES, THE STOCK MARKET, AND INTEREST RATES 535 Structure of the Stock Market 535 Box: READING THE FINANCIAL NEWS: STOCK MARKET QUOTATIONS 536 Computers, Communications, and Stock Trading 537 Box: GLOBAL TRADING 539 The Money Supply and Stock Prices 540 Box: How Goop Is THE Dow JoNEs? 542 Monetary Policy and the Stock Market 545 Summary /Questions / Suggestions for Further Reading 33 FINANCIAL FUTURES AND OPTIONS 549 An Overview of Financial Futures 550 Box: READING THE FINANCIAL NEWS: FINANCIAL FUTUREs QUOTATIONS 553 Using Financial Futures Contracts l'sing and \'auiny 0pio hil M INTERNATIONAL FINANCE 34 FOREIGN EXCHANGE RATES 67 The Etect ot' the Balance of Paymenta on Cxchunge atuN b Box: RrADINQ THE FNANOAL, NEWS: PoueaN xWANi QUWAIONS tUy The Etteet of Exchange Rates on the Bulanve of Puynenta buA Still to Come 576 Summary Questhons Sugestions fin urther ieuding FIXED VERSUS FLOATING EXCHANGE RATES 578 How Fixed Rates Were Maintained 679 International Financial Crises Domestic Stabilization Policies Under Fixed and onting Exchange Rates 582 Summary /Questions / Suggestions for Further Realing Managed Floating 584 36 BALANCE OF PAYMENWTS ACCOUNTING 588 Sources and Uses Once Again 588 Does It Really Balance? 591 Measure for Measure (or As You Like It) 592 Summary /Questions / Suggestions for Further Reading 37 THE GOLD STANDARD 598 An Island Paradise 598 The Gold Standard Domestically 600 The Gold Standard Internationally 603 Box: Is GoLD A GooD INVESTMENT? 604 Will the Gold Standard Make a Comeback? 606

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Ou se procurer copeaux et bois déroulés? collage, agrafage, couture, teinture Déguisements Lion de bois Perruque d'ange Colliers multicolores Vannerie Dessous-de-plat rustique Cache-pot Corbeille Finlandaise Abat-jour Lampe-cage Lampe-cylindrique Abat-jour finlandais Bougeoirs Compositions florales Tableau Soleil en bois Mobiles Mobile à cercles concentriques Mobile à boules Mobil-chat Mobil-poissons Mobile chinois Mobil à petit train

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Impulsion et deuxième loi de Newton Impulsion et quantité de mouvement Relation entre les masses et les vitesses de deux objets en interaction Analyse numérique de la conservation de la quantité de mouvement Analyse graphique de la loi de la conservation de la quantité de mouvement Travail Travail et puissance Energie cinétique Equivalence travail-énergie cinétique Etude expérimentale qualitative sur les collisions Collisions sur une droite E, d'un ressort Etude d'un mouvement harmonique simple Application numérique de la relation E, = kx2 Energie totale du système masse-ressort Energie potentielle gravitationnelle d'un objet à une hauteur h du sol L'énergie cinétique d'un pendule Transfert d'énergie Energie potentielle gravitationnelle universelle

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Impulsion et deuxième loi de Newton Impulsion et quantité de mouvement Relation entre les masses et les vitesses de deux objets en interaction Analyse numérique de la conservation de la quantité de mouvement Analyse graphique de la loi de la conservation de la quantité de mouvement Travail Travail et puissance Energie cinétique Equivalence travail-énergie cinétique Etude expérimentale qualitative sur les collisions Collisions sur une droite E, d'un ressort Etude d'un mouvement harmonique simple Application numérique de la relation E, = kx2 Energie totale du système masse-ressort Energie potentielle gravitationnelle d'un objet à une hauteur h du sol L'énergie cinétique d'un pendule Transfert d'énergie Energie potentielle gravitationnelle universelle

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1° WHAT IS BIG BUSINESS? 2°THE APPEARANCE AND SPREAD OF BIG BUSINESS THE ADVENT OF INDUSTRIALIZATION PIONEERS IN BIG BUSINESS:THE RAILSROADS PRECONDITIONS FOR BIG BUSINESS VERTICAL GROWTH HORIZONTAL GROWTH THE GREAT MERGER WAVE 3°THE PAINFUL ACCEPTANCE OF THE CORPORATE WORLD BIBLIOGRAPHICAL ESSAY INDEX

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L’ARGENT FAIRE SES COMPTES LES DEPENSES DE CITA A CHAQUE MARCHE LE DEPENSE DE CITA PENDANT L’ANNEE QUELLES SONT LES RECETTES DE CITA PENDANT L’ANNEE QUELLES VOS RECETTES PENDANT L’ANNEE LES SEPT PROBLEMES : Au marché, faire seulement les dépenses prévues Voir les dépenses qu’on peut éviter Calculer les prix de revient S’associer pour dépenses moins et gagner plus Moderniser la Tontine Pourquoi fait –on des cadeaux ? Pourquoi payer l’impôt ? L’ARGENT : QU’EST-CE QUE C’EST ? QU’EST-CE QU’ON FAIT ?

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LA PAIN Chap I: Les efforts de l'homme pour s'assurer le minimum vital Sur le plan individuel Travail , épargne, solidarité, assurances Sur le plan gouvernemental Une science politique tenant compte de aspirations fondamentales de l'homme Le plein emploi et les différents régimes économiques La régulation des activités économiques La densité optima des populations. La prévision des risques Chap II: Un aliment oublié, le pain de vie Quel ce pain? Ce qu'il advient aux hommes et aux peuples qui se nourrissent du pain de vie ou qui en manquent LA PAIX Chap I: Analyse des raisons qui empêchent la paix de s'établir d'une manière durable La responsabilité des hommes d'Etats "J'ai trop aimé la guerre" (Louis XVI) La démocratie et la paix L'influence des religions Le paganisme antique. Le christianisme L'Islam. Les idéologies modernes Les recherche des sociologues L'institut Français de polémologie La révélation biblique Chap II: Les remèdes contre la guerre La paix par la force Les grands empires: Babylone, Egypte, Rome La paix par une contrainte volontaire sur la nature humaine La chrétienté médiévale. Le paradis soviétique L'idéal maçonnique. Le grandes organisations internationales Jésus Christ, le prince de la paix, initiateur d'une humanité nouvelle LA LIBERTE Chap I: Les causes de la servitude les cause politiques Le cause économiques Les causes sociales Chap II: La conquête de la liberté La prise de la Bastille les armes à la main Les Bastille du XXème siècle et leur conquête L'Apprentissage des techniques de la liberté Les exigence du combat actuel pour la liberté La tragédie de notre monde

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Les Prophètes: Ceux de droite et ceux de gauche La Genèse: les cent dernières années Le Lévitique: les loi du mouvement Le programme économique du syndicalisme Le renouveau de la négociation collective La nouvelle population active Le nouveau syndicalisme Le nouveau noir La politique dans le syndicalisme

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ONE/DYNAMICS-THE BIG PnologyICTURE Transformation of the Execcutive Techennology As a change Agent The behaviorl science Make Their Mark TWO/ENVIRONMENT nging The changing climante of work company organisation as a developing context The office as action assisting environment The human constellation Leadership and motivation THREE/TOOLS The expanding executive tool kit Man management tools The executive as computer user outside services on executive call FOUR/THE FUTURE The 21st gentury executive

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ONE/DYNAMICS--THE BIG PICTURE Transformation of the Executive Technology As a Change Agent The Behavioral Sciences Make Their Mark PART TWO/ENVIRONMENT The Changing Climate of Work Company Organization As a Developing-Context The Office As Action-Assisting Environment The Human Constellation Leadership and Motivation PART THREE/TOOLS The Expanding Executive Tool Kit Man-Management Tools The Executive As Computer User Outside Services on Executive Call PART FOUR/THE FUTURE The 21st Century Executive