Part 1 Overview of financial statements: introduction to business activities and overview of financial statements and the reporting process. Part 2 Accounting concepts and methods: balance sheet - presenting the investments and financing of a firm; income statement - reporting the results of operating activities; statement of cash flows - reporting the effects of operating, investing, and financing activities on cash flows; introduction to financial statement analysis. Part 3 Measuring and reporting assets and equities using generally accepted accounting principles: receivables and revenue recognition; inventories - the source of operating profits; long-lived tangible and intangible assets - the source of operating capacity; liabilities - introduction; liabilities - off-balance sheet financing, leases, deferred income taxes, retirement benefits, and derivatives; marketable securities and investments; reporting earnings, comprehensive income, and shareholders' equity; statement of cash flows - another look. Part 4 Synthesis: significance and implications of alternative accounting principles. Appendix: compound interest, accounting, and bond tables.
