Understanding Financial Accounting

Understanding Financial Accounting, 3rd Canadian Edition presents a fresh approach to teaching introductory financial accounting through a blended conceptual and technical perspective that demonstrates how to apply course information to students' everyday lives and future careers. To develop a deeper understanding of course concepts, students work through high-quality assessment at varying levels, helping them learn more efficiently and create connections between topics and real-world application. There are also a variety of hands-on Excel and data analytics activities that help students learn how to solve business problems within the accounting context. With Understanding Financial Accounting, students will remain engaged, on track, and develop the key skills they need for future academic and career success.

Preface vi 1 Overview of Corporate Financial Reporting 1-1 2 Analyzing Transactions and Their Effects on Financial Statements 2-1 3 Double-Entry Accounting and the Accounting Cycle 3-1 4 Revenue Recognition and the Statement of Income 4-1 5 The Statement of Cash Flows 5-1 6 Cash and Accounts Receivable 6-1 7 Inventory 7-1 8 Long-Term Assets 8-1 9 Current Liabilities 9-1 10 Long-Term Liabilities 10-1 11 Shareholders’ Equity 11-1 12 Financial Statement Analysis 12-1 Appendix A Specimen Financial Statements: Dollarama Inc. A- 1 Appendix B Revenue Recognition and Long-Term Contracts B- 1 Appendix C Long-Term Assets C- 1 Appendix D Investments D- 1 Glossary G-1/ Company Index C-1/ Subject Index S- 1