Basic Accounting Concepts, Principles, and Procedures, Volume 2, 2nd Edition

(950 pages, including glossary and index) Volume 2 of Basic Accounting Concepts, Principles, and Procedures 2nd edition is the second book of a user-friendly, academic-quality, comprehensive 2-volume set. Each book, with CD, can be used independently according to each user's needs. The books are built on a research-based instructional design that improves clarity, learning efficiency, and reduction of reader stress. Comprehensive explanations are gradual, combined with illustration, and reinforced with practice and answers. The design bridges the gap between dense academic texts and simplified general trade-level books.To ensure a full introduction to the context and vocabulary of financial accounting, Volume 2 examples move from a proprietorship (volume 1) to a simple corporate business. (If desired, an in-depth discussion of corporate transactions is available in the last chapters of volume 1 as additional content.)Volume 2 completes the accounting cycle and discusses how to apply generally accepted accounting principles to key accounts. Major topics include:Causes of adjustments and procedures to adjust accounts at period-endHow to close the books (corporate, proprietorship, partnership)Cash basis accounting compared to accrual basis accountingWorksheetsMerchandising operations and transactions for both major types of inventory systemsFinancial statements of merchandising businessesAccounting systems and special journalsCash and internal control requirements and methodsReceivablesInventory costing methodsLong-term assetsThe payroll process and payroll proceduresHow to prepare and analyze a statement of cash flowsHow to prepare and use a cash budgetLong-term liabilities (bonds and notes payable)Accounting software uses, limitations, and features checklistThere are more than 900 end-of-chapter questions and problems with answers and solutions fully viewable in text, disk, and online with no access codes required. Chapters include vocabulary reviews and cumulative self-tests with solutions and guidance to relevant content. Templates on disk and online provide accounting forms needed for problem solutions and for general use. The book includes ethics guidelines and extensive ethics case studies. Read more