Solution Manual For Financial Accounting,
8th Canadian Edition by Libby, Hodge,
Kanaan, Sterling Chapters 1 - 13, Complete
1-
1
,TABLE OF CONTENTS
CHAPTER ONE
Financial Statements and Business Decisions
CHAPTER TWO
Investing and Financing Decisions and the Accounting System
CHAPTER THREE
Operating Decisions and the Accounting System
CHAPTER FOUR
Adjustments, Financial Statements, and the Closing Process
CHAPTER FIVE
Reporting and Interpreting Sales Revenue, Receivables, and Cash
CHAPTER SIX
Reporting and Interpreting Cost of Sales and Inventory
CHAPTER SEVEN
Reporting and Interpreting Long-Lived Assets
CHAPTER EIGHT
Reporting and Interpreting Current Liabilities
CHAPTER NINE
Reporting and Interpreting Non-current Liabilities
CHAPTER TEN
Reporting and Interpreting Shareholders' Equity
CHAPTER ELEVEN
Statement of Cash Flows
1-
2
,CHAPTER TWELVE
Communicating Accounting Information and Analyzing Financial
Statements
CHAPTER THIRTEEN
Reporting and Interpreting Investments in Other Corporations
1-
3
, CHAPTER ONE
Financial Statements and Business
Decisions
ANSWERS TO QUESTIONS
1. Accounting is a system that collects and processes
(analyzes, measures, and records) financial information
about an organization and reports that information to
decision makers.
2. Financial accounting involves preparation of the four basic
financial statements and related disclosures for external
decision makers. Managerial accounting involves the
preparation of detailed plans, budgets, forecasts, and
performance reports for internal decision makers.
3. Financial reports are used by both internal and external
groups and individuals. The internal groups are comprised of
the various managers of the entity. The external groups
include the owners, investors, creditors, governmental
agencies, other interested parties, and the public at large.
1-
4
8th Canadian Edition by Libby, Hodge,
Kanaan, Sterling Chapters 1 - 13, Complete
1-
1
,TABLE OF CONTENTS
CHAPTER ONE
Financial Statements and Business Decisions
CHAPTER TWO
Investing and Financing Decisions and the Accounting System
CHAPTER THREE
Operating Decisions and the Accounting System
CHAPTER FOUR
Adjustments, Financial Statements, and the Closing Process
CHAPTER FIVE
Reporting and Interpreting Sales Revenue, Receivables, and Cash
CHAPTER SIX
Reporting and Interpreting Cost of Sales and Inventory
CHAPTER SEVEN
Reporting and Interpreting Long-Lived Assets
CHAPTER EIGHT
Reporting and Interpreting Current Liabilities
CHAPTER NINE
Reporting and Interpreting Non-current Liabilities
CHAPTER TEN
Reporting and Interpreting Shareholders' Equity
CHAPTER ELEVEN
Statement of Cash Flows
1-
2
,CHAPTER TWELVE
Communicating Accounting Information and Analyzing Financial
Statements
CHAPTER THIRTEEN
Reporting and Interpreting Investments in Other Corporations
1-
3
, CHAPTER ONE
Financial Statements and Business
Decisions
ANSWERS TO QUESTIONS
1. Accounting is a system that collects and processes
(analyzes, measures, and records) financial information
about an organization and reports that information to
decision makers.
2. Financial accounting involves preparation of the four basic
financial statements and related disclosures for external
decision makers. Managerial accounting involves the
preparation of detailed plans, budgets, forecasts, and
performance reports for internal decision makers.
3. Financial reports are used by both internal and external
groups and individuals. The internal groups are comprised of
the various managers of the entity. The external groups
include the owners, investors, creditors, governmental
agencies, other interested parties, and the public at large.
1-
4
