NOT IN USE - Custom ACC 640/436 (Mercer University)

by Hopkins, Hanlon

ISBN: 978-1-61853-444-6 | Copyright 2022

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Intermediate Accounting, 2e (pg. 1.17-1)
Chapter 17: Accounting for Leases (pg. 1.17-1)
Expanded Chapter Preview (pg. 1.17-3)
LO17-1 Determine lease types for lessees and lessors and classify leases using lease criteria (pg. 1.17-4)
Definition of a Lease (pg. 1.17-4)
Lease Classification Criteria (pg. 1.17-8)
Lease Classification (pg. 1.17-10)
Demo 17-1 Analysis of Lease Classification Criteria (pg. 1.17-11)
Review 17-1 Determine Lease Classification (pg. 1.17-12)
LO 17-2 Account for a finance lease for a lessee (pg. 1.17-12)
Lease Liability (pg. 1.17-13)
Right-of-Use-Asset (pg. 1.17-13)
Demo 17-2A Lessee—Finance Lease with No Residual Value (pg. 1.17-15)
Demo 17-2B Lessee—Finance Lease with Guaranteed Residual Value (pg. 1.17-19)
Demo 17-2C Lessee—Finance Lease with Purchase Option Expected to Exercise (pg. 1.17-22)
Management Judgment (pg. 1.17-24)
Identifying a Lease (pg. 1.17-24)
Classifying a Lease (pg. 1.17-24)
Accounting for a Lease (pg. 1.17-24)
Review 17-2 Accounting for a Finance Lease by Lessee (pg. 1.17-24)
LO17-3 Account for a sales-type lease for a lessor (pg. 1.17-25)
Lease Receivable (pg. 1.17-25)
Calculation of Lease Payment (pg. 1.17-26)
Initial Direct Lease Costs (pg. 1.17-26)
Demo 17-3A Lessor—Sales-Type Lease with No Residual Value (pg. 1.17-26)
Demo 17-3B Lessor—Sales-Type Lease with a Guaranteed Residual Value (pg. 1.17-29)
Review 17-3 Account for Sales-Type Lease by Lessor (pg. 1.17-32)
LO17-4 Account for an operating lease for a lessee (pg. 1.17-33)
Straight-Line Lease Expense (pg. 1.17-33)
Demo 17-4A Lessee—Operating Lease (pg. 1.17-34)
Demo 17-4B Lessee—Operating Lease with Prepayment, Initial Cost, Incentive (pg. 1.17-37)
Review 17-4 Accounting for Operating Lease by Lessee (pg. 1.17-41)
LO17-5 Account for an operating lease for a lessor (pg. 1.17-42)
Demo 17-5 Lessor—Operating Lease (pg. 1.17-42)
Review 17-5 Accounting for Operating Lease by Lessor (pg. 1.17-44)
LO17-6 Explain lease modifications and lease remeasurements (pg. 1.17-44)
Lease Modifications (pg. 1.17-44)
Additional Cases of Lease Classification Reassessment and Lease Remeasurement (pg. 1.17-44)
Demo 17-6 Lease Modifications (pg. 1.17-45)
Review 17-6 Lease Modifications (pg. 1.17-47)
LO17-7 Explain the accounting policy election for short-term leases and other lease disclosures (pg. 1.17-47)
Short-Term Leases (pg. 1.17-47)
Demo 17-7 Short-Term Leases (pg. 1.17-48)
Financial Statement Reporting of Leases (pg. 1.17-48)
Review 17-7 Accounting for Operating Lease by Lessor (pg. 1.17-50)
APPENDIX 17A Account for direct financing leases by the lessor (pg. 1.17-50)
Demo 17-8 Lessor—Direct Financing Lease (pg. 1.17-51)
Review 17-8 Accounting for Direct Financing Leases (pg. 1.17-53)
APPENDIX 17B Describe the difference in accounting for a sale-leaseback versus a failed sale (pg. 1.17-54)
Demo 17-9 Sale-leaseback and Failed Sale (pg. 1.17-55)
Review 17-9 Accounting for Sale-Leaseback (pg. 1.17-57)
Questions (pg. 1.17-57)
Brief Exercises (pg. 1.17-58)
Exercises (pg. 1.17-61)
Problems (pg. 1.17-71)
Accounting Decisions and Judgments (pg. 1.17-76)
Appendix-Brief Exercises (pg. 1.17-80)
Appendix-Exercises (pg. 1.17-80)
Answers to Review Exercises (pg. 1.17-81)
Chapter 18: Income Taxes (pg. 1.18-1)
Expanded Chapter Preview (pg. 1.18-3)
LO18-1 Describe taxable temporary differences that lead to deferred tax liabilities and related inco (pg. 1.18-4)
Demo 18-1 Taxable Temporary Difference Leading to Deferred Tax Liability (pg. 1.18-6)
Review 18-1 Taxable Temporary Difference Leading to Deferred Tax Liability (pg. 1.18-8)
LO18-2 Describe deductible temporary differences that lead to deferred tax assets and related income (pg. 1.18-9)
Demo 18-2 Deductible Temporary Differences Leading to a Deferred Tax Asset (pg. 1.18-10)
Reveiw 18-2 Deductible Temporary Difference Leading to Deferred Tax Asset (pg. 1.18-12)
LO18-3 Explain how to record and report a valuation allowance for deferred tax assets (pg. 1.18-13)
Demo 18-3 Account for Deferred Tax Asset Valuation Allowance (pg. 1.18-14)
Review 18-3 Tax Asset Valuation Allowance (pg. 1.18-15)
LO18-4 Describe permanent differences and other items that impact the reported effective tax rate (pg. 1.18-16)
Other Items that Impact Effective Tax Rate (pg. 1.18-17)
Demo 18-4A Permanent Difference (pg. 1.18-17)
Demo 19-4B Multiple Temporary and Permanent Differences (pg. 1.18-18)
Review 18-4 Multiple Temporary and Permanent Differences (pg. 1.18-21)
LO18-5 Explain how a change in tax rates impacts deferred taxes (pg. 1.18-21)
Review 18-5 Change in Enacted Tax Rate (pg. 1.18-24)
LO 18-6 Describe accounting for net operating loss carryforwards (pg. 1.18-24)
Demo 18-6 Net Operating Loss Carryforward (pg. 1.18-25)
Review 18-6 Net Operating Loss Carryforward (pg. 1.18-27)
LO18-7 Explain and demonstrate accounting for uncertainty in income tax decisions (pg. 1.18-27)
Step One: Recognition (pg. 1.18-27)
Step Two: Measurement (pg. 1.18-27)
Demo 18-7 Uncertain Tax Positions (pg. 1.18-28)
Review 18-7 Uncertain Tax Benefit (pg. 1.18-30)
LO18-8 Describe financial statement disclosure for deferred taxes and income tax expense (pg. 1.18-31)
Financial Statement Presentation (pg. 1.18-31)
Disclosure Requirements for Income Tax (pg. 1.18-32)
Demo 18-8 Balance Sheet Classification of Deferred Tax Assets and Liabilities (pg. 1.18-32)
Review 18-8 Financial Statement Presentation of Deferred Taxes (pg. 1.18-33)
Management Judgment (pg. 1.18-33)
Deferred Tax Asset Valuation Allowance (pg. 1.18-33)
Uncertain Tax Position (pg. 1.18-34)
APPENDIX 18A Apply intraperiod tax allocation (pg. 1.18-34)
Demo 18-9 Intraperiod Tax Allocation (pg. 1.18-34)
Review 18-9 Intraperiod Tax Allocation (pg. 1.18-35)
Appendix 18B Apply tax effects to changes in accounting principle and error corrections (pg. 1.18-35)
Change in Accounting Principle (pg. 1.18-35)
Demo 18-10A Change in Accounting Principle (pg. 1.18-36)
Error Correction (pg. 1.18-36)
Demo 18-10B Error Correction (pg. 1.18-36)
Review 18-10 Change in Accounting Principle and Error Correction (pg. 1.18-37)
Questions (pg. 1.18-37)
Brief Exercises (pg. 1.18-38)
Exercises (pg. 1.18-40)
Problems (pg. 1.18-50)
Accounting Decisions and Judgments (pg. 1.18-53)
Appendix-Brief Exercises (pg. 1.18-58)
Appendix-Exercises (pg. 1.18-58)
Appendix-Problems (pg. 1.18-59)
Answers to Review Exercises (pg. 1.18-60)
Chapter 19: Pensions and Postretirement Benefits (pg. 1.19-1)
Expanded Chapter Preview (pg. 1.19-3)
LO19-1 Describe defined contribution plans and defined benefit plans and the measurement of related (pg. 1.19-4)
Defined Contribution Plan (pg. 1.19-4)
Demo 19-1A Accounting for Defined Contribution Plan (pg. 1.19-5)
Defined Benefit Plan (pg. 1.19-5)
Demo 19-1B Estimating Pension Obligations (pg. 1.19-7)
Review 19-1 Defined Contribution and Defined Benefit Pension Plans (pg. 1.19-8)
LO19-2 Determine the five components of change in projected benefit obligation (pg. 1.19-9)
Component Changes in the Projected Benefit Obligation (pg. 1.19-9)
Demo 19-2 Recognizing Changes in the Projected Benefit Obligation (pg. 1.19-10)
Review 19-2 Determine Changes in the Components of PBO (pg. 1.19-11)
LO19-3 Reconcile pension plan assets and determine funded status (pg. 1.19-11)
Reconciliation of Plan Assets (pg. 1.19-11)
Demo 19-3A Reconcile Pension Plan Assets (pg. 1.19-12)
Financial Statement Reporting of Funded Status (pg. 1.19-12)
Demo 19-3B Determination of Funded Status (pg. 1.19-13)
Review 19-3 Reconciliation of Plan Assets and Determination of Plan’s Funded Status (pg. 1.19-14)
LO19-4 Determine the five components of pension expense (pg. 1.19-15)
Service Cost (pg. 1.19-15)
Interest Cost (pg. 1.19-15)
Expected Return on Plan Assets (pg. 1.19-15)
Amortization of Prior Service Cost (pg. 1.19-16)
Amortization of Pension Gain/Loss (pg. 1.19-16)
Demo 19-4 Components of Pension Expense (pg. 1.19-17)
Review 19-4 Components of Pension Expense (pg. 1.19-19)
LO19-5 Record prior service cost amendment, pension expense, gains and losses, funding, and benefits (pg. 1.19-19)
Recording Prior Service Cost Amendment (pg. 1.19-19)
Recording Pension Expense (pg. 1.19-19)
Recording Deferral of Pension Gains and Losses (pg. 1.19-20)
Recording Employer Contributions (pg. 1.19-20)
Recording Benefits Paid (pg. 1.19-20)
Demo 19-5 Recording the Impact of Defined Benefit Plan (pg. 1.19-20)
Review 19-5 Recording the Impact of a Defined Benefit Plan (pg. 1.19-22)
LO19-6 Describe the reporting of pensions in financial statements (pg. 1.19-23)
Income Statement (pg. 1.19-23)
Statement of Comprehensive Income and Statement of Stockholders’ Equity (pg. 1.19-23)
Balance Sheet (pg. 1.19-23)
Demo 19-6 Pension Plan Reporting (pg. 1.19-24)
Disclosure Requirements (pg. 1.19-25)
Management Judgment (pg. 1.19-25)
Review 19-6 Reporting a Defined Benefit Pension Plan (pg. 1.19-26)
LO19-7 Use a pension worksheet to record pension journal entries (pg. 1.19-26)
Demo 19-7 Preparation of a Pension Worksheet (pg. 1.19-27)
Review 19-7 Record Pension Entries Using a Pension Worksheet (pg. 1.19-28)
APPENDIX 19A Explain postretirement benefit plans and differences from pensions plans (pg. 1.19-28)
Disclosure (pg. 1.19-29)
Demo 19-8 Determining Obligations for Postretirement Benefit Plan (pg. 1.19-30)
Review 19-8 Determining Obligations for Postretirement Benefit Plan (pg. 1.19-31)
APPENDIX 19-9B Record postretirement benefit expense, gains and losses, funding, and benefit (pg. 1.19-31)
Demo 19-9 Recording Entries for Postretirement Benefit Plan (pg. 1.19-31)
Review 19-9 Recording Entries for Postretirement Benefit Plan (pg. 1.19-34)
APPENDIX 19C Allocate prior service cost using the service method (pg. 1.19-34)
Demo 19-10 Allocation of Prior Service Cost (pg. 1.19-35)
Review 19-10 Allocation of Prior Service Costs (pg. 1.19-35)
Questions (pg. 1.19-36)
Brief Exercises (pg. 1.19-36)
Exercises (pg. 1.19-39)
Problems (pg. 1.19-46)
Accounting Decisions and Judgments (pg. 1.19-51)
Appendix-Brief Exercises (pg. 1.19-58)
Appendix-Exercises (pg. 1.19-59)
Appendix-Problems (pg. 1.19-60)
Answers to Review Exercises (pg. 1.19-61)
Appendix A: Accounting Changes and Error Analysis Revisited (pg. 1.A-1)
Expanded Appendix Overview (pg. 1.A-3)
LOA-1 Demonstrate the accounting for a change in accounting estimate and a change in accounting esti (pg. 1.A-4)
Disclosure (pg. 1.A-5)
LOA-2 Demonstrate the accounting for a change in accounting principle (pg. 1.A-5)
Voluntary Change in Accounting Principle-Retrospective Approach (pg. 1.A-6)
Voluntary Change in Accounting Principle-Prospective Approach (pg. 1.A-6)
Required Change in Accounting Principle Based on a Codification Update (pg. 1.A-7)
Direct and Indirect Effects (pg. 1.A-8)
Disclosure Requirements (pg. 1.A-8)
Management Judgment (pg. 1.A-9)
LOA-3 Demonstrate the accounting for an error correction (pg. 1.A-9)
Disclosure (pg. 1.A-10)
LOA-4 Describe the accounting for a change in reporting entity (pg. 1.A-12)
Disclosure (pg. 1.A-12)
Demo A-4 Identification of a Change in Reporting Entity (pg. 1.A-13)
Questions (pg. 1.A-13)
Brief Exercises (pg. 1.A-15)
Exercises (pg. 1.A-15)
Problems (pg. 1.A-17)
Analyzing Financial Statements (pg. 1.A-19)
Advanced Accounting, 4e (pg. 2.2)
Chapter 1 Accounting for Intercorporate Investments (pg. 2.2)
HULU (pg. 2.2)
When Should the Equity Method Be Used? (pg. 2.5)
Topic Review 1.1 (pg. 2.7)
Accounting Procedures for an Investment Using the Equity Method (Basics) (pg. 2.7)
Accounting for the Purchase of an Equity Investment (pg. 2.8)
Accounting for the Equity Investment Subsequent to Its Purchase (pg. 2.9)
Topic Review 1.2 (pg. 2.11)
Accounting for an Investment Using the Equity Method (Advanced Topics) (pg. 2.11)
Accounting for Equity Investments When the Purchase Price Exceeds Book Value (pg. 2.11)
Topic Review 1.3 (pg. 2.14)
Accounting for the Effects on Equity Investments of Intercompany Sales of Inventory (pg. 2.15)
Topic Review 1.4 (pg. 2.16)
Equity Method Accounting When Less Than 100% of the Investee Is Owned (pg. 2.16)
Topic Review 1.5 (pg. 2.20)
Discontinuance of the Equity Method (pg. 2.20)
Accounting for a Change to and from the Equity Method (pg. 2.21)
Topic Review 1.6 (pg. 2.24)
Required Disclosures for Equity Method Investments (pg. 2.24)
Criticism of the Equity Method (pg. 2.25)
Chapter Summary (pg. 2.26)
Comprehensive Review (pg. 2.27)
Questions (pg. 2.28)
Multiple Choice (pg. 2.29)
Problems (pg. 2.37)
Topic Review (pg. 2.40)
Comprehensive Review Solution (pg. 2.42)
Chapter 2 Introduction to Business Combinations and the Consolidation Process (pg. 2.44)
COCA-COLA (pg. 2.44)
Business Combinations and (Non-Business) Asset Acquisitions (pg. 2.47)
Review of (Non-Business) Asset Acquisition Accounting (pg. 2.49)
Types of Business Combinations (pg. 2.51)
Topic Review 2.1 (pg. 2.53)
When Does “Control” Exist? (pg. 2.53)
Topic Review 2.2 (pg. 2.54)
Consolidation on the Date of Acquisition (pg. 2.55)
The Intuition Underlying the Consolidation Process (pg. 2.55)
Acquisition-Date Consolidation (Purchase Price Equals Book Value) (pg. 2.59)
Acquisition-Date Consolidation (Purchase Price Greater Than Book Value) (pg. 2.61)
Topic Review 2.3 (pg. 2.67)
Recognizing and Measuring the Identifiable Assets Acquired and the Liabilities Assumed (pg. 2.67)
Recognition Principle (pg. 2.68)
Measurement Principle and Fair Value Estimation (pg. 2.68)
Topic Review 2.4 (pg. 2.76)
Topic Review 2.5 (pg. 2.77)
Disclosure Example: Tyson Foods’ Acquisition of Hillshire Brands (pg. 2.79)
Chapter Summary (pg. 2.82)
Comprehensive Review (pg. 2.83)
Appendix 2A: Measuring Assets Acquired and Liabilities Assumed (Advanced) (pg. 2.83)
Topic Review 2.6 (pg. 2.85)
Appendix 2B: Deferred Taxes and Business Combinations (pg. 2.88)
Appendix 2C: Pushdown Accounting (pg. 2.92)
Questions (pg. 2.97)
Multiple Choice (pg. 2.99)
Exercises (pg. 2.105)
Problems (pg. 2.112)
Topic Review (pg. 2.119)
Comprehensive Review Solution (pg. 2.122)
Chapter 3 Consolidated Financial Statements Subsequent to the Date of Acquisition (pg. 2.124)
CUMMINS INC. (pg. 2.124)
Post-Acquisition Consolidation When the Parent Uses the Equity Method of Investment Bookkeeping (pg. 2.127)
Review of the Equity Method of Pre-Consolidation Bookkeeping (pg. 2.128)
Topic Review 3.1 (pg. 2.130)
The Consolidation Process Subsequent to the Date of Acquisition-Equity Method (pg. 2.131)
Example of Consolidation Subsequent to the Date of Acquisition-Equity Method (pg. 2.132)
Consolidated Financial Statements (pg. 2.138)
Topic Review 3.2 (pg. 2.141)
Post-Acquisition Consolidation When the Parent Uses the Cost Method of Investment Bookkeeping (pg. 2.141)
Cost Method of Pre-Consolidation Bookkeeping (pg. 2.142)
The Consolidation Process Subsequent to the Date of Acquisition-Cost Method (pg. 2.144)
Example of Consolidation Subsequent to the Date of Acquisition-Cost Method (pg. 2.146)
Topic Review 3.3 (pg. 2.148)
Accounting for Goodwill (pg. 2.149)
Recognition of Goodwill (pg. 2.149)
Amortization of Intangible Assets and Goodwill Impairment Evaluation (pg. 2.150)
Topic Review 3.4 (pg. 2.159)
Accounting for a Bargain Acquisition (pg. 2.159)
Chapter Summary (pg. 2.160)
Comprehensive Review-Equity Method (pg. 2.161)
Comprehensive Review-Cost Method (pg. 2.162)
Appendix 3A: Complete Listing of Required Disclosures (pg. 2.163)
Appendix 3B: Common Control Business Combinations and the Pooling-of-Interests Method (pg. 2.164)
Questions (pg. 2.168)
Multiple Choice (pg. 2.170)
Exercises (pg. 2.174)
Problems (pg. 2.182)
Topic Review (pg. 2.195)
Comprehensive Review-Equity Method Solution (pg. 2.197)
Comprehensive Review-Cost Method Solution (pg. 2.198)
Chapter 4 Consolidated Financial Statements and Intercompany Transactions (pg. 2.200)
EXXON MOBIL CORPORATION (pg. 2.200)
Accounting for Intercompany Sales of Inventory-Equity Method (pg. 2.204)
Intuition Behind the Elimination of Intercompany Sales and Deferral of Profit-Equity Method (pg. 2.204)
Intercompany Inventory Transactions and Consolidating Entries-Equity Method (pg. 2.207)
Upstream versus Downstream Transactions for Wholly Owned (i.e., 100%) Subsidiaries-Equity Method (pg. 2.211)
How Much Gross Profit Do We Defer? (pg. 2.211)
Continuous Sales of Inventories (pg. 2.212)
Example of the Continuous Intercompany Sale and Resale of Inventories-Equity Method (pg. 2.212)
Topic Review 4.1 (pg. 2.214)
Accounting for Intercompany Sales of Inventory-Cost Method (pg. 2.215)
Example of the Continuous Intercompany Sale and Resale of Inventories-Cost Method (pg. 2.217)
Topic Review 4.2 (pg. 2.219)
Accounting for the Intercompany Sales of Noncurrent Assets Between the Investor and the Investee(s)- (pg. 2.220)
Accounting for the Intercompany Sale of Non-Depreciable Assets-Equity Method (pg. 2.220)
Accounting for the Intercompany Sale of Depreciable Assets-Equity Method (pg. 2.224)
Topic Review 4.3 (pg. 2.234)
Accounting for the Intercompany Sales of Noncurrent Assets Between the Investor and the Investee(s)- (pg. 2.235)
Accounting for the Intercompany Sale of Non-Depreciable Assets-Cost Method (pg. 2.235)
Accounting for the Intercompany Sale of Depreciable Assets-Cost Method (pg. 2.238)
Topic Review 4.4 (pg. 2.243)
Chapter Summary (pg. 2.244)
Comprehensive Review-Equity Method (pg. 2.245)
Comprehensive Review-Cost Method (pg. 2.247)
Appendix 4A: Consolidation When the Parent Uses the Partial Equity Method to Account for Its Equity (pg. 2.248)
Questions (pg. 2.250)
Multiple Choice (pg. 2.251)
Exercises (pg. 2.255)
Problems (pg. 2.260)
Topic Review (pg. 2.279)
Comprehensive Review-Equity Method Solution (pg. 2.283)
Comprehensive Review-Cost Method Solution (pg. 2.288)
Chapter 5 Consolidated Financial Statements with Less Than 100% Ownership (pg. 2.292)
ALCOA CORPORATION (pg. 2.292)
Basics of Consolidating Noncontrolling Interests (pg. 2.295)
Consolidation on Date of Acquisition-Parent Owns 80% of the Subsidiary (pg. 2.295)
Post-Acquisition Consolidation And Noncontrolling Interests-Equity Method (pg. 2.299)
Allocation of Profit to Controlling and Noncontrolling Interests and Consolidation Subsequent to Acq (pg. 2.300)
Topic Review 5.1 (pg. 2.305)
Intercompany Profit Elimination in Consolidated Financial Statements in the Presence of Noncontrolli (pg. 2.305)
Topic Review 5.2 (pg. 2.313)
Intercompany Profit Elimination for Upstream Depreciable Asset Sales-Equity Method (pg. 2.314)
Comparison of Upstream to Downstream Transfers of Depreciable Assets (pg. 2.319)
Topic Review 5.3 (pg. 2.323)
Post-Acquisition Consolidation and Noncontrolling Interests-Cost Method (pg. 2.324)
Suggested Integrated Approach for Mastering Complex Consolidations (pg. 2.329)
Step 1: Disaggregate and Document the Activity for the 100% AAP, the Controlling Interest AAP, and (pg. 2.330)
Step 2: Calculate and Organize the Profits and Losses on Intercompany Transactions and Balances (pg. 2.334)
Step 3: Compute the Pre-Consolidation Equity Investment Account Beginning and Ending Balances Start (pg. 2.336)
Step 4: Reconstruct the Activity in the Parent’s Pre-Consolidation Equity Investment T-Account for (pg. 2.337)
Step 5: Independently Compute the Beginning and Ending Balances of Owners’ Equity Attributable to t (pg. 2.338)
Step 6: Independently Calculate Consolidated Net Income, Controlling Interest Net Income, and Nonco (pg. 2.340)
Step 7: Complete the Consolidating Entries According to the C-E-A-D-I Sequence and Complete the Con (pg. 2.342)
Chapter Summary (pg. 2.344)
Comprehensive Review-Equity Method (pg. 2.345)
Comprehensive Review-Cost Method (pg. 2.346)
Appendix 5A: Business Combinations and Alternative Measurements of Noncontrolling Interest (pg. 2.348)
Appendix 5B: Consolidated Earnings Per Share (EPS) (pg. 2.352)
Appendix 5C: Accounting for Changes in Ownership (pg. 2.353)
Topic Review 5.4 (pg. 2.359)
Questions (pg. 2.360)
Multiple Choice (pg. 2.360)
Exercises (pg. 2.365)
Problems (pg. 2.370)
Topic Review (pg. 2.388)
Comprehensive Review Solution-Equity Method (pg. 2.391)
Comprehensive Review Solution-Cost Method (pg. 2.398)
Chapter 6 Consolidation of Variable Interest Entities and Other Intercompany Investments (pg. 2.406)
THE WALT DISNEY COMPANY (pg. 2.406)
Parent Investment in Variable Interest Entities (VIEs) (pg. 2.409)
Special Purpose Entities (SPEs) (pg. 2.409)
Comprehensive Consolidation Model in FASB ASC 810, Including Consolidation of VIEs (pg. 2.411)
Topic Review 6.1 (pg. 2.417)
Topic Review 6.2 (pg. 2.418)
Topic Review 6.3 (pg. 2.419)
Topic Review 6.4 (pg. 2.420)
Intercompany Investment in Affiliates’ Debt (pg. 2.427)
Direct Lending to an Affiliate (pg. 2.427)
Acquisition from Unaffiliated Entity of Investment in Affiliated Company’s Debt-Equity Method (pg. 2.428)
Topic Review 6.5 (pg. 2.434)
Acquisition from Unaffiliated Entity of Investment in Affiliated Company’s Debt-Cost Method (pg. 2.434)
Topic Review 6.6 (pg. 2.435)
Parent Investment in a Subsidiary with Preferred Stock Outstanding (pg. 2.436)
Effects of Subsidiary Preferred Stock on [C] and [E] Consolidation Entries (pg. 2.436)
Chapter Summary (pg. 2.438)
Comprehensive Review (pg. 2.439)
Appendix 6a: Detail of Required Disclosures Related to VIEs (pg. 2.441)
Questions (pg. 2.442)
Multiple Choice (pg. 2.443)
Exercises (pg. 2.446)
Problems (pg. 2.451)
Topic Review (pg. 2.458)
Comprehensive Review Solution (pg. 2.463)
Chapter 7 Accounting for Foreign Currency Transactions and Derivatives (pg. 2.472)
COCA-COLA (pg. 2.472)
Effect of Exchange Rates on the Income Statement and the Balance Sheet (pg. 2.474)
Accounting for Foreign Currency Transactions Gains and Losses (pg. 2.475)
Accounting for Foreign-Currency-Denominated Accounts Payable (pg. 2.476)
Accounting for Foreign-Currency-Denominated Accounts Receivable (pg. 2.478)
Foreign Currency Transaction Gains and Losses-Summary (pg. 2.479)
Topic Review 7.1 (pg. 2.480)
Derivative Financial Instruments (pg. 2.480)
Hedging Instruments (pg. 2.481)
Accounting for Derivatives (pg. 2.481)
Derivatives-Accounting Hedging (pg. 2.482)
Fair Value Hedge (pg. 2.485)
Cash Flow Hedge (pg. 2.493)
Chapter Summary (pg. 2.500)
Comprehensive Review (pg. 2.503)
Appendix 7A: Borrowing in a Foreign Currency (pg. 2.503)
Appendix 7B: Assessing the Effectiveness of Hedging Instruments (pg. 2.504)
Appendix 7C: Required Disclosures Relating to Derivatives (pg. 2.505)
Appendix 7D: Derivative Financial Instruments (pg. 2.506)
Appendix 7E: Examples of (Non-Foreign Currency) Hedging Transactions (pg. 2.509)
Questions (pg. 2.513)
Multiple Choice (pg. 2.514)
Exercises (pg. 2.518)
Problems (pg. 2.531)
Topic Review (pg. 2.536)
Comprehensive Review olution (pg. 2.537)
Chapter 8 Consolidation of Foreign Subsidiaries (pg. 2.538)
STARBUCKS CORPORATION (pg. 2.538)
Functional Currency (pg. 2.541)
The Translation Process (pg. 2.542)
Translation Example-Year of Acquisition (pg. 2.545)
Translation Example-Second Year After Acquisition (pg. 2.547)
Required Disclosures Relating to the Cumulative Translation Adjustment (pg. 2.551)
Topic Review 8.1 (pg. 2.552)
The Remeasurement of Foreign-Currency-Denominated Financial Statements (pg. 2.553)
Remeasurement Example (pg. 2.554)
Topic Review 8.2 (pg. 2.559)
Consolidation of Foreign Subsidiaries (pg. 2.560)
Example of Consolidation Subsequent to the Date of Acquisition-Equity Method (pg. 2.560)
Disposition of the Cumulative Translation Adjustment Upon Sale of the Subsidiary (pg. 2.563)
Example of Consolidation Subsequent to the Date of Acquisition-Cost Method (pg. 2.564)
Chapter Summary (pg. 2.566)
Comprehensive Review (pg. 2.567)
Appendix 8A: Direct Computation of Translation Adjustment and Remeasurement Gain (Loss) (pg. 2.569)
Appendix 8B: Hedging the Net Investment in a Foreign Subsidiary (pg. 2.571)
Questions (pg. 2.573)
Multiple Choice (pg. 2.574)
Exercises (pg. 2.575)
Problems (pg. 2.584)
Topic Review (pg. 2.592)
Comprehensive Review Solution (pg. 2.594)
Chapter 9 Government Accounting: Fund-Based Financial Statements (pg. 2.596)
THE TOWN OF ACTON, MASSACHUSETTS (pg. 2.596)
Budgetary Accounting (pg. 2.600)
Appropriations and Estimated Revenues (pg. 2.601)
Fund Accounting (pg. 2.603)
Types of Funds (pg. 2.603)
Measurement Focus and Basis of Accounting for Governmental Funds (pg. 2.605)
Summary of Fund Types, Accounting Approaches, and Required Financial Statements (pg. 2.606)
Fund Accounting Journal Entries (pg. 2.607)
Topic Review 9.1 (pg. 2.616)
Fund Financial Statements (pg. 2.616)
Financial Statements for Governmental Funds (pg. 2.617)
Closing Entries (pg. 2.621)
Topic Review 9.2 (pg. 2.622)
Budgetary Comparison Schedules or Statements (pg. 2.622)
Financial Statements for Proprietary Funds (pg. 2.623)
Financial Statements for Fiduciary Funds (pg. 2.627)
Chapter Summary (pg. 2.630)
Comprehensive Review (pg. 2.631)
Appendix 9A: Specialized Governmental Funds (pg. 2.632)
Questions (pg. 2.636)
Multiple Choice (pg. 2.636)
Exercises (pg. 2.640)
Problems (pg. 2.641)
Topic Review (pg. 2.645)
Comprehensive Review Solution (pg. 2.648)
Chapter 10 Government Accounting: Government-wide Financial Statements (pg. 2.652)
THE TOWN OF ACTON, MASSACHUSETTS—CONTINUED (pg. 2.652)
Comprehensive Annual Financial Report (CAFR) (pg. 2.655)
MD&A (pg. 2.656)
Auditor’s Report (pg. 2.657)
Government-wide Financial Statements (pg. 2.658)
Primary Government (pg. 2.659)
Measurement Focus and Basis of Accounting (pg. 2.661)
Statement of Net Position (pg. 2.662)
Statement of Activities (pg. 2.667)
Topic Review 10.1 (pg. 2.670)
Required Reconciliation to Government-wide Statements (pg. 2.671)
Chapter Summary (pg. 2.673)
Comprehensive Review (pg. 2.675)
Questions (pg. 2.676)
Multiple Choice (pg. 2.677)
Exercises (pg. 2.680)
Problems (pg. 2.680)
Topic Review (pg. 2.688)
Comprehensive Review Solution (pg. 2.689)
Chapter 11 Accounting for Not-for-Profit Organizations (pg. 2.690)
UNITED WAY WORLDWIDE (pg. 2.690)
Statement of Financial Position (pg. 2.693)
Statement of Financial Position Example (pg. 2.693)
Topic Review 11.1 (pg. 2.694)
Statement of Activities (pg. 2.695)
Format of the Statement of Activities (pg. 2.695)
Accounting for Contributions (pg. 2.696)
Statement of Activities Example (pg. 2.698)
Topic Review 11.2 (pg. 2.700)
Statement of Functional Expenses (pg. 2.700)
Statement of Cash Flows (pg. 2.701)
Chapter Summary (pg. 2.702)
Comprehensive Review (pg. 2.704)
Questions (pg. 2.704)
Multiple Choice (pg. 2.705)
Exercises (pg. 2.707)
Problems (pg. 2.709)
Topic Review (pg. 2.711)
Comprehensive Review Solution (pg. 2.712)
Chapter 12 Segment Disclosures and Interim Financial Reporting (pg. 2.714)
3M COMPANY (pg. 2.714)
Reportable Operating Segments (pg. 2.717)
Reason for Operating Segment Disclosures (pg. 2.717)
Management Approach (pg. 2.718)
Definition of an Operating Segment (pg. 2.718)
Required Disclosures for an Operating Segment (pg. 2.720)
Example-3M’s Segment Disclosures (pg. 2.721)
Topic Review 12.1 (pg. 2.725)
Interim Financial Reporting (pg. 2.726)
Inventories (pg. 2.726)
Costs Benefitting More Than One Period (pg. 2.728)
Year-End Adjustments (pg. 2.729)
Seasonal Variation (pg. 2.729)
Income Tax Expense (pg. 2.729)
Changes to Accounting Principles and Estimates (pg. 2.730)
Interim Financial Statements Disclosures (pg. 2.731)
Chapter Summary (pg. 2.732)
Comprehensive Review (pg. 2.734)
Questions (pg. 2.734)
Multiple Choice (pg. 2.735)
Exercises (pg. 2.736)
Problem (pg. 2.737)
Topic Review (pg. 2.740)
Comprehensive Review Solution (pg. 2.740)
Chapter 13 Accounting for Partnerships (pg. 2.742)
BOARDWALK PIPELINE PARTNERS, LP (pg. 2.742)
The Partnership Form of Organization and Its Governance (pg. 2.745)
Accounting for the Formation of the Partnership (pg. 2.746)
Accounting for Changes in Partnership Ownership (Realignment) (pg. 2.749)
Revaluation of Net Assets Prior to Partnership Realignment (pg. 2.750)
Admission of New Partner by Purchasing the Partnership Interest from One or Both Partners (pg. 2.752)
Realignment via Contribution of Cash or Other Net Assets to the Partnership-Base Case (pg. 2.753)
Realignment via Contribution of Cash or Other Net Assets to the Partnership-Bonus and Goodwill Metho (pg. 2.754)
Topic Review 13.1 (pg. 2.756)
Allocation of Profit (Loss), Drawing Accounts and the Capital Account (pg. 2.756)
Reconciliation of the Capital Account (pg. 2.757)
Allocation of Partnership Profit (Loss) (pg. 2.757)
Statement of Capital Account Balances (pg. 2.759)
Partnership Dissolution (pg. 2.761)
Accounting for the Liquidation of a Partnership (pg. 2.761)
Chapter Summary (pg. 2.769)
Comprehensive Review (pg. 2.771)
Questions (pg. 2.772)
Multiple Choice (pg. 2.772)
Exercises (pg. 2.775)
Problems (pg. 2.776)
Topic Review (pg. 2.778)
Comprehensive Review Solution (pg. 2.778)
Patrick E. Hopkins

Patrick E. Hopkins

Patrick E. Hopkins, is a professor and Deloitte Foundation Accounting Faculty Fellow at Indiana University’s Kelley School of Business. Professor Hopkins received his B.S. and M.Acc. from the University of Florida and his Ph.D. from the University of Texas at Austin.

Prior to entering the accounting doctoral program, Professor Hopkins served as a senior consultant with the Emerging Business Services practice of Deloitte, Haskins and Sells in Miami, Florida. Professor Hopkins has been at IU since 1995, where he teaches undergraduate and graduate courses on financial reporting for mergers, acquisitions and changes in corporate structure. He also served as a Visiting Professor at Stanford University’s Graduate School of Business, where he taught courses on global financial reporting and on accounting for mergers, acquisitions and changes in corporate structure. During his career, Professor Hopkins won each of the top teaching awards in the Kelley School of Business, including the Trustees Teaching Award, the Schuyler F. Otteson Award, and the Sauvain Award. He also teaches in international and online executive MBA programs at Indiana University, and in the doctoral program at HHL University in Leipzig, Germany. Professor Hopkins is also a widely respected research scholar in the area of financial reporting, and investor and analyst judgment and decision making. His work has appeared in top accounting journals, including The Accounting Review, the Journal of Accounting Research, Contemporary Accounting Research, and Accounting Organizations and Society, and has been discussed in business press publications, including Barron’s, CFO, and The Deal. He is the past winner of the American Accounting Association’s Financial Accounting and Reporting Section Best Research Paper Award, the Indiana University Outstanding Junior Faculty Award, and Kelley School of Business Outstanding Research Award.


Michelle L. Hanlon

Michelle L. Hanlon

Michelle L. Hanlon is the Howard W. Johnson Professor at the MIT Sloan School of Management. She earned her doctorate at the University of Washington.

Prior to joining MIT, she was a faculty member at the University of Michigan. Professor Hanlon has taught financial accounting to undergraduates, MBA students, executive MBA students, and Masters of Finance students. Professor Hanlon also teaches Taxes and Business Strategy to MBA students. She is the winner of the 2013 Jamieson Prize for Excellence in Teaching at MIT Sloan.

Professor Hanlon’s research focuses primarily on the intersection of taxation and financial accounting. Her recent work examines the capital market effects of the accounting for income tax, the reputational effects of corporate tax avoidance, and the economic consequences of U.S. international tax policies for multinational corporations. She has published research studies in the Journal of Accounting and Economics, the Journal of Accounting Research, The Accounting Review, the Review of Accounting Studies, the Journal of Finance, the Journal of Financial Economics, the Journal of Public Economics, and others. She has won several awards for her research and has presented her work at numerous universities and conferences. Professor Hanlon has served on several editorial boards and currently serves as an editor at the Journal of Accounting and Economics. 

Professor Hanlon has testified in front of the U.S. Senate Committee on Finance and the U.S. House of Representatives Committee on Ways and Means about the interaction of financial accounting and tax policy. She served as a U.S. delegate to the American-Swiss Young Leaders Conference in 2010 and worked as an Academic Fellow at the U.S. House Ways and Means Committee in 2015.


Intermediate Accounting, 2e (Hanlon, Hodder, Nelson, Roulstone, Dragoo)
Errata - Volume 1
Last Updated: Feb 4 2022

Identified errors in Volume 1 of printed text, corrected.

Errata - Volume 2
Last Updated: Feb 15 2022

Identified errors in Volume 2 of printed text, corrected.

Appendix B
Last Updated: Jul 1 2020

Appendix B - IFRS

Appendix C
Last Updated: Jun 24 2020

Appendix C - Data Analytics

Data Analytics Files
Last Updated: Nov 5 2020
Advanced Accounting, 4e (Hopkins, Halsey)
Errata
Last Updated: Jun 7 2021

Here are corrections to the text identified after the book's printing.

Excel Templates - Chs 2-6
Last Updated: Jun 22 2020

Excel templates for designated problems in Chapters 2-6. 

Excel Templates - Chs 8-9
Last Updated: Apr 1 2021

Excel templates for designated problems in Chapters 8-9.

Excel Templates - Chs 12-13
Last Updated: Jun 22 2020

Excel templates for designated problems in Chapters 12-13.