Intermediate Accounting 14th Edition Fred Skousen, James Stice, Earl Kay Stice - Solutions

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Explain how to report other comprehensive income.
Explain the uses and limitations of a balance sheet.
Identify the major classifications of the balance sheet.
Prepare a classified balance sheet using the report and account formats.
Identify the purpose and content of the statement of cash flows.
Prepare a basic statement of cash flows.
Understand the usefulness of the statement of cash flows.
Determine which balance sheet information requires supplemental disclosure.
Describe the major disclosure techniques for the balance sheet.
Describe the fundamental concepts related to the time value of money.
Solve future and present value of
problems.
Solve future value of ordinary and annuity due problems.
Solve present value of ordinary and annuity due problems.
Solve present value problems related to deferred annuities, bonds, and expected cash flows.
Indicate how to report cash and related items.
Define receivables and understand accounting issues related to their recognition.
Explain accounting issues related to valuation of accounts receivable.
Explain accounting issues related to recognition and valuation of notes receivable.
Explain the fair value option.
Explain accounting issues related to disposition of accounts and notes receivable.
Describe how to report and analyze receivables.
Understand inventory classifications and different inventory systems.
Determine the goods and costs included in inventory.
Describe and compare the cost flow assumptions used to account for inventories.
Identify special issues related to LIFO.
Determine the effects of inventory errors on the financial statements.
Understand and apply the lower-ofcost-or-net realizable value rule.
Understand and apply the lower-ofcost-or-market rule.
Understand other inventory valuation issues.
Determine ending inventory by applying the gross profit method.
Determine ending inventory by applying the retail inventory method.
Explain how to report and analyze inventory.
Understand property, plant, and equipment and its related costs.
Describe the accounting problems associated with self-constructed assets.
Describe the accounting problems associated with interest capitalization.
Understand accounting issues related to acquiring and valuing plant assets.
Describe the accounting treatment for costs subsequent to acquisition.
Describe the accounting treatment for the disposal of property, plant, and equipment.
Understand depreciation concepts and methods of depreciation.
Explain special depreciation methods and other depreciation issues.
Explain the accounting issues related to asset impairment.
Explain the accounting procedures for depletion of natural resources.
Explain how to report and analyze property, plant, equipment, and natural resources.
Describe the characteristics, valuation, and amortization of intangible assets.
Describe the accounting for various types of intangible assets.
Explain the accounting issues for recording goodwill.
Explain impairment procedures and presentation requirements for intangible assets.
Describe accounting and presentation for research and development and similar costs.
Describe the nature, valuation, and reporting of current liabilities.
Explain the accounting for gain and loss contingencies.
Indicate how to present and analyze liabilities and contingencies.
Describe the nature of bonds and indicate the accounting for bond issuances.
Describe the accounting for the fair value option.
Indicate how to present and analyze long-term debt.
Describe the corporate form and the issuance of shares of stock.
Describe the accounting and reporting for reacquisition of shares.
Understand the accounting and reporting issues related to dividends.
Describe the accounting and reporting for stock compensation plans.
Compute basic earnings per share.
Compute diluted earnings per share.
Understand the accounting for investments in debt securities.
Understand the accounting for investments in equity securities.
Explain the equity and consolidation methods of accounting.
Evaluate other major issues related to investments in debt and equity securities.
Understand the fundamental concepts related to revenue recognition and measurement.
Understand and apply the five-step revenue recognition process.
Apply the five-step process to major revenue recognition issues.
Describe presentation and disclosure regarding revenue.
Understand the fundamentals of accounting for income taxes.
Identify additional issues in accounting for income taxes.
Explain the accounting for loss carrybacks and loss carryforwards.
Describe the presentation of deferred income taxes in financial statements.
Understand the fundamentals of pension plan accounting.
Describe the accounting and amortization of prior service costs.
Explain the accounting and amortization for unexpected gains and losses.
Explain the nature, economic substance, and advantages of lease transactions.
Describe the accounting for leases by lessees.
Describe the accounting for leases by lessors.
Describe the accounting and reporting for special features of lease arrangements.
Identify types of accounting changes and understand the accounting for changes in accounting principles.
Describe the accounting for changes in estimates and changes in the reporting entity.
Describe the accounting for correction of errors.
Analyze the effect of errors.
Describe the usefulness and format of the statement of cash flows.
Prepare a statement of cash flows.
Contrast the direct and indirect methods of calculating net cash flow from operating activities.
Discuss special problems in preparing a statement of cash flows.
Explain the use of a worksheet in preparing a statement of cash flows.
Review the full disclosure principle and describe how it is implemented.
Discuss the disclosure requirements for related-party transactions, postbalance-sheet events, major business segments, and interim reporting.
Identify the major disclosures in the auditor’s report and understand management’s responsibilities for the financial statements.
Identify reporting issues related to financial forecasts and fraudulent financial reporting.
7. What factors determine the period and method for amortizing intangible assets?
8. Historically, the maximum number of years for amortizing an intangible asset has been 40 years.How would this change under the 1999 FASB Exposure Draft?
11. Under U.S. GAAP, what test is used to determine whether an asset is impaired? How is an impairment loss measured?
15. Why isn't depreciation expense always computed for the exact number of days an asset is owned?
16. What were the original reasons for the development of the ACRS income tax depreciation method?
7. What is the general rule used for determining the appropriate method of accounting for investments in equity securities when the investor does not possess absolute voting control?
9. How are changes in value disclosed on the financial statements for trading securities? available-for-sale securities? held-to-maturit>' securities?

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Intermediate Accounting 14th Edition Fred Skousen, James Stice, Earl Kay Stice - Solutions

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