A review of Essentials of accounting, 7th edition [by] Robert N. Anthony and Leslie K. Pearlman / prepared by David L. Schwarzkopf.

Part 1 Basic Concepts and the Balance Sheet 1 -- Elements of the Balance Sheet 1 -- Assets 3 -- Liabilities and Equity 3 -- Dual-Aspect Concept 4 -- Money-Measurement Concept 5 -- Entity Concept 6 -- Part 2 More about the Balance Sheet 9 -- Going-Concern Concept 9 -- Asset-Measurement Concept 10 -- Balance Sheet Items 11 -- Assets 12 -- Current Assets 13 -- Noncurrent Assets 15 -- Liabilities 16 -- Current Liabilities 16 -- Current Ratio 17 -- Noncurrent Liabilities 17 -- Equity 18 -- Part 3 Balance Sheet Changes; Income Measurement 21 -- Analysis of Transactions 21 -- Initial Paid-in Capital 21 -- Borrowing Money 22 -- Purchase of Inventory for Cash 23 -- Sale of Merchandise for Cash 23 -- Purchase of Inventory on Credit 24 -- Cash Sale 25 -- Credit Sale 25 -- Purchase of Prepaid Insurance 26 -- Purchase of Land; Mortgage Payable 26 -- Sale of Land 27 -- Valuation of Equity 27 -- Withdrawal by Owner 28 -- Market Value of Land 28 -- Repayment of Bank Loan 28 -- Change to a Corporation 29 -- Income Measurement 29 -- Part 4 Accounting Records and Systems 35 -- The Account 35 -- Rules for Increases and Decreases 37 -- Debit and Credit 39 -- Income Statement Accounts 40 -- The Ledger and the Journal 40 -- The Closing Process 42 -- A Note on Computers 45 -- Part 5 Revenues and Monetary Assets 47 -- Fiscal Year 48 -- Accrual Accounting 48 -- Conservatism Concept 49 -- Materiality Concept 50 -- Realization Concept 50 -- Service Revenue 53 -- Amount of Revenue 54 -- Monetary Assets 56 -- Days' Sales Uncollected 57 -- Part 6 Expense Measurement; The Income Statement 59 -- Expense and Expenditure 60 -- Unexpired and Expired Costs 62 -- Matching Concept 62 -- Other Assets that Will Become Expenses 62 -- Expenses that Create Liabilities 64 -- Fringe Benefits 64 -- Rent Expense 65 -- Losses 66 -- An Example of Matching 67 -- The Income Statement 70 -- A Package of Accounting Reports 71 -- Income Statement Percentages 71 -- Part 7 Inventories and Cost of Sales 75 -- Finding Cost of Sales 75 -- Finding Cost of Sales by Deduction 77 -- Inventory Valuation: Assumptions 79 -- First-In, First-Out (FIFO) Method 81 -- Last-In, First-Out (LIFO) Method 81 -- Average-Cost Method 82 -- Comparison of Inventory Methods 82 -- Inventory Valuation: Adjustment to Market 83 -- Inventory in a Manufacturing Company 83 -- Product Costs and Period Costs 84 -- Overhead Rates 85 -- Inventory Turnover 86 -- Part 8 Noncurrent Assets and Depreciation 89 -- Noncurrent Assets 89 -- Accounting for Acquisitions 90 -- Capital Leases 90 -- Depreciation 91 -- Depreciation Methods 93 -- Units-of-Production Depreciation 93 -- Straight-Line Depreciation 94 -- Accelerated Depreciation 95 -- Accounting for Depreciation 96 -- Sale of a Plant Asset 98 -- Significance of Depreciation 98 -- Depreciation for Income Tax Purposes 99 -- Deferred Income Taxes 100 -- Depletion 101 -- Intangible Assets 101 -- Key Points to Remember 102 -- Part 9 Liabilities and Equity 105 -- Working Capital 105 -- Sources of Capital 106 -- Debt Capital 107 -- Types of Equity Capital 109 -- Common Stock 110 -- Preferred Stock 112 -- Retained Earnings and Dividends 112 -- Distributions to Shareholders 113 -- Cash Dividend 113 -- Stock Dividend 113 -- Stock Split 113 -- Balance Between Debt and Equity Capital 114 -- Consolidated Financial Statements 117 -- Part 10 Statement of Cash Flows 121 -- Cash Flow from Operating Activities 122 -- Adjustment for Depreciation Expense 125 -- Adjustments for Changes in Working Capital Accounts 126 -- Adjustments for Changes in Current Assets 126 -- Adjustments for Changes in Current Liabilities 131 -- Net Effect of Working Capital Changes 131 -- Summary of Operating Adjustments 132 -- Investing and Financing Flows 132 -- Investing Activities 132 -- Financing Activities 133 -- Completing the Statement of Cash Flows 134 -- Uses of the Statement of Cash Flows 134 -- Key Points to Remember 135 -- Part 11 Analysis of Financial Statements 137 -- Limitations of Financial Statement Analysis 137 -- Auditing 138 -- Overall Measures of Performance 138 -- Factors Affecting Return on Equity 140 -- Tests of Capital Utilization 143 -- Other Measures of Performance 146 -- Comments on Profitability Measurement 148 -- Tests of Financial Condition 149.