Table of Contents

1. Accounting and Financial Statements.
2. The Accounting Information System.
3. Accrual Accounting.
4. Internal Control and Cash.
5. Sales and Receivables.
6. Cost of Goods Sold and Inventory.
7. Operating Assets.
8. Current and Contingent Liabilities.
9. Long-Term Liabilities.
10. Stockholders' Equity.
11. The Statement of Cash Flows.
12. Financial Statement Analysis.
Appendix 1: International Financial Reporting Standards.
Appendix 2: Investments.
Appendix 3: Time Value of Money.
Appendix 4: Finanical Statement Information: Abercrombie & Fitch.
Appendix 5: Finanical Statement Information: Aeropostale.

1. Accounting and Financial Statements. 2. The Accounting Information System. 3. Accrual Accounting. 4. Internal Control and Cash. 5. Sales and Receivables. 6. Cost of Goods Sold and Inventory. 7. Operating Assets. 8. Current and Contingent Liabilities. 9. Long-Term Liabilities. 10. Stockholders' Equity. 11. The Statement of Cash Flows. 12. Financial Statement Analysis. Appendix A: Financial Statement Information: Abercrombie and Fitch. Appendix B: Financial Statement Information: Aeropostale. Appendix C: Time Value of Money. Appendix D: International Financial Reporting Standards. Appendix E: Investments.

About the Author

Don R. Hansen is Arthur Andersen Professor of Accounting and a Regents Service Professor at Oklahoma State University. He received his Ph.D. from the University of Arizona in 1977. He has an undergraduate degree in mathematics from Brigham Young University. His research interests include activity-based costing and mathematical modeling. He has published articles in both accounting and engineering journals including The Accounting Review, The Journal of Management Accounting Research, Accounting Horizons, and IIE Transactions. He has served on the editorial board of The Accounting Review. His outside interests include family, church activities, reading, movies, and watching sports. Maryanne M. Mowen is Associate Professor Emerita of Accounting at Oklahoma State University. She currently teaches online classes in cost and management accounting for Oklahoma State University. She received her Ph.D. from Arizona State University. She brings an interdisciplinary perspective to teaching and writing in cost and management accounting, with degrees in history and economics. She has taught classes in ethics and the impact of the Sarbanes-Oxley Act on accountants. Her scholarly research is in the areas of management accounting, behavioral decision theory, and compliance with the Sarbanes-Oxley Act. She has published articles in journals such as Decision Science, The Journal of Economics and Psychology, and The Journal of Management Accounting Research. Dr. Mowen has served as a consultant to mid-sized and Fortune 100 companies and works with corporate controllers on management accounting issues. She is a member of the Northern New Mexico chapter of SCORE and serves as a counselor, assisting small and start-up businesses. Outside the classroom, she enjoys hiking, traveling, reading mysteries, and working crossword puzzles. Jay Rich is a Professor of Accounting at Illinois State University. He received his B.S., M.S., and Ph.D. from the University of Illinois. Prior to entering the Ph.D. program, he worked as an auditor at Price Waterhouse & Co. in Chicago and earned his C.P.A. in 1985. He has published articles in The Accounting Review, Auditing: A Journal of Practice & Theory, Accounting Horizons, Organizational Behavior and Human Decision Processes, Accounting Organizations and Society, and others. He has also served on the editorial board of Auditing: A Journal of Practice & Theory and Current Issues in Auditing.
Dr. Rich has received both the Outstanding Dissertation Award and Notable Contribution to the Literature Award from the Audit Section of the American Accounting Association as well as the Outstanding Educator Award from the Illinois CPA Society. His primary teaching interest is financial accounting and he has taught numerous courses at the undergraduate, masters, and doctoral levels. His outside interests include his family, travel, reading, and watching sports, but he spends most of his free time driving his children to various activities. He also repeatedly develops plans to exercise and diet at some point in the future. By all accounts, he is a master at grilling meat, a mediocre skier, and a shameful golfer. Dr. Jefferson P. Jones is an Associate Professor of Accounting in the School of Accountancy at Auburn University where he teaches financial accounting and applied financial research courses. He received his Bachelor’s in Accounting and Master of Accountancy degrees from Auburn University and his Ph.D. from Florida State University. Dr. Jones has received numerous teaching awards, including the Auburn University Beta Alpha Psi Outstanding Teaching Award (eight times); the Auburn University Outstanding Master of Accountancy Professor Teaching Award (five times); the Auburn University Outstanding Distance Master of Accountancy Teaching Award (three times); and the Auburn University College of Business McCartney Teaching Award. In addition, he has made numerous presentations around the country on research and pedagogical issues. Dr. Jones has public accounting experience as an auditor with Deloitte and Touche, holds a CPA certificate in the state of Alabama (inactive), and is a member of the American Accounting Association, the American Institute of Certified Public Accountants (AICPA), and the Alabama Society of CPAs (ASCPA). His research interests focus on financial accounting, specifically investigating the quality of reported accounting information, and accounting education. He has published articles in a variety of journals, including Advances in Accounting, Review of Quantitative Finance and Accounting, Issues in Accounting Education, International Journal of Forecasting, and The CPA Journal. When not at work, Dr. Jones enjoys playing golf and watching college football.