Advanced Financial Accounting 10th Edition Christensen Solutions Manual

Advanced Financial Accounting 10th Edition Christensen Solutions Manual

Product details:

• ISBN-10 ‏ : ‎ 0078025621
• ISBN-13 ‏ : ‎ 978-0078025624
• Author: Ted Christensen

The Tenth Edition of Advanced Financial Accounting is an up-to-date, comprehensive, and highly illustrated presentation of the accounting and reporting principles and procedures used in a variety of business entities. This edition continues to provide strong coverage of advanced accounting topics, with clarity of presentation and integrated coverage based on continuous case examples. The text is highly illustrated with complete presentations of worksheets, schedules, and financial statements so that students can see the development of each topic. Inclusion of all recent FASB and GASB pronouncements and the continuing deliberations of the authoritative bodies provide a current and contemporary text for students preparing for the CPA Examination and current practice. This has become especially important given the recent rapid pace of the authoritative bodies in dealing with major issues having far-reaching The book’s building block approach introduces concepts with simple examples and then gradually introduces complexity, allowing students to easily keep pace with the material.

Table contents:

Chapter 1
Intercorporate Acquisitions and Investments in Other Entities 00
The Development of Complex Business Structures 00
	Enterprise Expansion 00
	Organizational Structure and Business Objectives
	Organizational Structure, Acquisitions, and Ethical Considerations
Business Expansion and Forms of Organizational Structure
	Expansion from Within
	Expansion through Business Combinations
	Frequency of Business Combinations
	Complex Organizational Structures
	Organizational Structure and Financial Reporting
Creating Business Entities
Business Combinations
	Forms of Business Combinations
	Methods of Effecting Business Combinations
	Valuation of Business Entities
Accounting for Business Combinations
Acquisition Accounting
	Fair Value Measurements
	Applying the Acquisition Method
	Goodwill
	Combination Effected through Acquisition of Net Assets
	Combination Effected through Acquisition of Stock
	Financial Reporting Subsequent to a Business Combination
	Disclosure Requirements
Additional Considerations in Accounting for Business Combinations
	Uncertainty in Business Combinations
	In-Process Research and Development
	Noncontrolling Equity Held Prior to Combination
	Acquisitions by Contract Alone
Summary of Key Concepts
Key Terms
Appendix 1A: Methods of Accounting for Business Combinations
Questions
Cases
Exercises
Problems
Chapter 2
Reporting Intercorporate Interests
Accounting for Investments in Common Stock
The Cost Method
	Accounting Procedures under the Cost Method
	Declaration of Dividends in Excess of Earnings since Acquisition
	Acquisition at Interim Date
	Changes in the Number of Shares Held
The Equity Method
	Use of the Equity Method
	Investor?s Equity in the Investee
	Recognition of Income
 Recognition of Dividends
	Carrying Amount of the Investment
	Acquisition at Interim Date
	Difference between Cost of Investment and Underlying Book Value
	Changes in the Number of Shares Held
The Cost and Equity Methods Compared
The Fair Value Option
Interests Other than Investments in Common Stock
	Investments in Partnerships
	Nonequity Interests in Other Entities
Additional Considerations Relating to the Equity Method
	Determination of Significant Influence
	Unrealized Intercompany Profits
	Additional Requirements of APB 18
	Investor?s Share of Other Comprehensive Income
	Tax Allocation Procedures
	Accounting for Investments in Subsidiaries
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Problems
Chapter 3
The Reporting Entity and Consolidated Financial Statements
Usefulness of Consolidated Financial Statements
Limitations of Consolidated Financial Statements
Subsidiary Financial Statements
Consolidated Financial Statements: Concepts and Standards
	Traditional View of Control
	Indirect Control
	Ability to Exercise Control
	Differences in Fiscal Periods
	Changing Concept of the Reporting Entity
Overview of the Consolidation Process
The Consolidation Process Illustrated
	The Consolidated Entity
	Mechanics of the Consolidation Process
Noncontrolling Interest
	Computation of Noncontrolling Interest
	Presentation of Noncontrolling Interest
Combined Financial Statements
Special-Purpose and Variable Interest Entities
	Off-Balance-Sheet Financing
	Qualifying Special-Purpose Entities
	Variable Interest Entities
Additional Considerations?Different Approaches to Consolidation
	Theories of Consolidation
	Comparison of Alternative Theories
	Current Practice
Summary of Key Concepts
Key Terms
Appendix 3A: Consolidation of Variable Interest Entities
Questions
Cases
Exercises
Problems
Chapter 4
Consolidation of Wholly Owned Subsidiaries
Consolidation Procedures
Consolidation Workpapers
	Workpaper Format
	Nature of Eliminating Entries
Consolidated Balance Sheet with Wholly Owned Subsidiary
	100 Percent Ownership Carried at Book Value
	100 Percent Ownership Acquired at More than Book Value
	Treatment of a Positive Differential
	Illustration of Treatment of Debit Differential
	100 Percent Ownership Acquired at Less than Fair Value of Net Assets
	Illustration of Treatment of Differential
Consolidation Subsequent to Acquisition
	Consolidated Net Income
	Consolidated Retained Earnings
	Workpaper Format
Consolidated Financial Statements?100 Percent Ownership Carried at Book Value
	Initial Year of Ownership
	Second and Subsequent Years of Ownership
	Consolidated Net Income and Retained Earnings
Consolidated Financial Statements?100 Percent Ownership Acquired at More than 
Book 
Value
	Initial Year of Ownership
	Second Year of Ownership
Intercompany Receivables and Payables
Push-Down Accounting
Summary of Key Concepts
Key Terms
Appendix 4A: Push-Down Accounting Illustrated
Questions
Cases
Exercises
Problems
Chapter 5
Consolidation of Less-than-Wholly Owned Subsidiaries
Effect of a Noncontrolling Interest
	Consolidated Net Income
	Consolidated Retained Earnings
	Differential
	Noncontrolling Interest
	Workpaper Format
Consolidated Balance Sheet with Majority-Owned Subsidiary
Consolidated Financial Statements with Majority-Owned Subsidiary
	Initial Year of Ownership
	Second Year of Ownership
Discontinuance of Consolidation
Treatment of Other Comprehensive Income
	Modification of the Consolidation Workpaper
	Adjusting Entry Recorded by Subsidiary
	Adjusting Entry Recorded by Parent Company
	Consolidation Workpaper?Second Year following Combination
	Consolidation Procedures
	Consolidation Workpaper?Comprehensive Income in Subsequent Years
Consolidation of Subsidiaries Acquired Prior to 2009
	Differences in Consolidation Procedures
	Illustration of Consolidation under Previous Accounting Standards
Additional Considerations
	Subsidiary Valuation Accounts at Acquisition
	Negative Retained Earnings of a Subsidiary at Acquisition
	Other Stockholders? Equity Accounts
	Subsidiary?s Disposal of Differential-Related Assets
Summary of Key Concepts
Key Terms
Appendix 5A: Consolidation and the Cost Method
Questions
Cases
Exercises
Problems
Chapter 6
Intercompany Transfers of Services and Noncurrent Assets
Overview of the Consolidated Entity
	Elimination of Intercompany Transfers
	Elimination of Unrealized Profits and Losses
Intercompany Transfers of Services
Intercompany Transfers of Land
	Overview of the Profit Elimination Process
	Assignment of Unrealized Profit Elimination
	Downstream Sale
	Upstream Sale
	Eliminating Unrealized Profits after the First Year
	Subsequent Disposition of Asset
Intercompany Transfers of Depreciable Assets
	Downstream Sale
	Change in Estimated Life of Asset upon Transfer
	Upstream Sale
	Asset Transfers before Year-End
Intercompany Transfers of Amortizable Assets
Summary of Key Concepts
Key Terms
Appendix 6A: Intercompany Transfers of Noncurrent Assets?Fully Adjusted Equity 
Method and Cost Method
Questions
Cases
Exercises
Problems
Chapter 7
Intercompany Inventory Transactions
General Overview
	Transfers at Cost
	Transfers at a Profit or Loss
	Effect of Type of Inventory System
Downstream Sale of Inventory
	Resale in Period of Intercorporate Transfer
	Resale in Period following Intercorporate Transfer
	Inventory Held Two or More Periods
Upstream Sale of Inventory
	Basic Equity-Method Entries?20X1
	Consolidation Workpaper?20X1
	Consolidated Net Income?20X1
	Basic Equity-Method Entries?20X2
	Consolidated Workpaper?20X2
	Consolidated Net Income?20X2
Additional Considerations
	Sale from One Subsidiary to Another
	Costs Associated with Transfers
	Lower of Cost or Market
	Sales and Purchases before Affiliation
Summary of Key Concepts
Appendix 7A: Intercompany Inventory Transactions?Fully Adjusted Equity Method 
and Cost Method
Questions
Cases
Exercises
Problems
Chapter 8
Intercompany Indebtedness
Consolidation Overview
Bond Sale Directly to an Affiliate
	Transfer at Par Value
	Transfer at a Discount or Premium
Bonds of Affiliate Purchased from a Nonaffiliate
	Purchase at Book Value
	Purchase at an Amount Less than Book Value
	Purchase at an Amount Greater than Book Value
Summary of Key Concepts
Key Terms
Appendix 8A: Intercompany Indebtedness?Fully Adjusted Equity Method and Cost 
Method
Questions
Cases
Exercises
Problems
Chapter 9
Consolidation Ownership Issues
Subsidiary Preferred Stock Outstanding
	Consolidation with Subsidiary Preferred Stock Outstanding
	Subsidiary Preferred Stock Held by Parent
	Subsidiary Preferred Stock with Special Provisions
	Illustration of Subsidiary Preferred Stock with Special Features
Changes in Parent Company Ownership
	Parent?s Purchase of Additional Shares from Nonaffiliate
	Parent?s Sale of Subsidiary Shares to Nonaffiliate
	Subsidiary?s Sale of Additional Shares to Nonaffiliate
 Subsidiary?s Sale of Additional Shares to Parent
 Subsidiary?s Purchase of Shares from Nonaffiliate
 Subsidiary?s Purchase of Shares from Parent
Complex Ownership Structures
	Multilevel Ownership and Control
	Reciprocal or Mutual Ownership
Subsidiary Stock Dividends
 Illustration of Subsidiary Stock Dividends
 Impact on Subsequent Periods
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Problems
	
 
Chapter 10
Additional Consolidation Reporting Issues
Consolidated Statement of Cash Flows
 Preparation of a Consolidated Cash Flow Statement
 Consolidated Cash Flow Statement Illustrated
 Consolidated Cash Flow Statement?Direct Method
Consolidation following an Interim Acquisition
	Parent Company Entries
	Consolidation Workpaper
Consolidation Income Tax Issues
	Allocation of Tax Expense When a Consolidated Return Is Filed
	Tax Effects of Unrealized Intercompany Profit Eliminations
Consolidated Earnings per Share
	Computation of Diluted Consolidated Earnings per Share
 Computation of Consolidated Earnings per Share Illustrated
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Problems
Chapter 11
Multinational Accounting: Foreign Currency Transactions and Financial 
Instruments
The Accounting Issues
Foreign Currency Exchange Rates
	The Determination of Exchange Rates
	Direct versus Indirect Exchange Rates
	Changes in Exchange Rates
	Spot Rates versus Current Rates
	Forward Exchange Rates
Foreign Currency Transactions
	Foreign Currency Import and Export Transactions
Managing International Currency Risk with Foreign Currency Forward Exchange 
Financial 
 Instruments
	Derivatives Designated as Hedges
	Forward Exchange Contracts
	Case 1: Managing an Exposed Foreign Currency Net Asset or Liability 
Position: Not 
a 
	 Designated Hedging Instrument
	Case 2: Hedging an Unrecognized Foreign Currency Firm Commitment: A 
Foreign
	 Currency Fair Value Hedge
	Case 3: Hedging a Forecasted Foreign Currency Transaction: A Foreign 
Currency
	 Cash Flow Hedge
	Case 4: Speculation in Foreign Currency Markets
	Foreign Exchange Matrix
Additional Considerations
	A Note on Measuring Hedge Effectiveness
	Interperiod Tax Allocation for Foreign Currency Gains (Losses)
	Hedges of a Net Investment in a Foreign Entity
Summary of Key Concepts
Key Terms
Appendix 11A: Illustration of Valuing Forward Exchange Contracts with 
Recognition 
for 
 the Time Value of Money
Appendix 11B: Use of Other Financial Instruments by Multinational Companies
Questions
Cases
Exercises
Problems
Chapter 12
Multinational Accounting: Issues in Financial Reporting and Translation of 
Foreign 
Entity Statements
Differences in Accounting Principles
Determining the Functional Currency
 Functional Currency Designation in Highly Inflationary Economies
Translation versus Remeasurement of Foreign Financial Statements
Translation of Functional Currency Statements into the Reporting Currency of the 
U.S. 
Company
	Financial Statement Presentation of Translation Adjustment
	Illustration of Translation and Consolidation of a Foreign Subsidiary
	Noncontrolling Interest of a Foreign Subsidiary
Remeasurement of the Books of Record into the Functional Currency
	Statement Presentation of Remeasurement Gain or Loss
	Illustration of Remeasurement of a Foreign Subsidiary
	Summary of Translation versus Remeasurement
Foreign Investments and Unconsolidated Subsidiaries
 Liquidation of a Foreign Investment
Hedge of a Net Investment in a Foreign Subsidiary
Disclosure Requirements
Additional Considerations in Accounting for Foreign Operations and Entities
	Remeasurement Case: Subsequent Consolidation Workpaper
	Proof of Remeasurement Exchange Gain
	Statement of Cash Flows
	Lower-of-Cost-or-Market Inventory Valuation under Remeasurement
	Intercompany Transactions
	Income Taxes
	Translation When a Third Currency Is the Functional Currency
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Problems
Chapter 13
Segment and Interim Reporting
Reporting for Segments 
Segment Reporting Accounting Issues
	International Financial Reporting Standards for Operating Segments
Information about Operating Segments
	Defining Reportable Segments
	Comprehensive Disclosure Test
	Reporting Segment Information
Enterprisewide Disclosures
	Information about Products and Services
	Information about Geographic Areas
	Information about Major Customers
Interim Financial Reporting
The Format of the Quarterly Financial Report
Accounting Issues
	Discrete versus Integral View of Interim Reporting
	Accounting Pronouncements on Interim Reporting
	International Financial Reporting Standards for Operating Segments
Reporting Standards for Interim Income Statements
	Revenue
	Cost of Goods Sold and Inventory
	All Other Costs and Expenses
	Accounting for Income Taxes in Interim Periods
	Disposal of a Component of the Entity or Extraordinary, Unusual, 
Infrequently
	 Occurring, and Contingent Items
Accounting Changes in Interim Periods
	Change in an Accounting Principle (Retrospective Application)
	Change in an Accounting Estimate (Current and Prospective Application)
	Change in a Reporting Entity (Retrospective Application)
	International Financial Reporting Standards for Accounting Changes
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Problems
Chapter 14
SEC Reporting
History of Securities Regulation
Electronic Data Gathering, Analysis, and Retrieval (EDGAR) System
International Harmonization of Accounting Standards for Public Offerings
Securities and Exchange Commission 
	Organizational Structure of the Commission
	Laws Administered by the SEC
	The Regulatory Structure
Issuing Securities: The Registration Process
	The Registration Statement
	SEC Review and Public Offering
	Accountants? Legal Liability in the Registration Process
Periodic Reporting Requirements
	Accountants? Legal Liability in Periodic Reporting
Foreign Corrupt Practices Act of 1977
Sarbanes-Oxley Act of 2002
	Title I: Public Company Accounting Oversight Board
	Title II: Auditor Independence
	Title III: Corporate Responsibility
	Title IV: Enhanced Financial Disclosures
	Title V: Analyst Conflicts of Interest
	Title VI: Commission Resources and Authority
	Title VII: Studies and Reports
	Title VIII: Corporate and Criminal Fraud Accountability
	Title IX: White-Collar Crime Penalty Enhancements
	Title X: Sense of Congress Regarding Corporate Tax Returns
	Title XI: Corporate Fraud and Accountability
Disclosure Requirements
	Management Discussion and Analysis
	Pro Forma Disclosures
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Chapter 15
Partnerships: Formation, Operation, and Changes in Membership
Nature of Partnership Entity
	Legal Regulation of Partnerships
	Definition of a Partnership
	Formation of a Partnership
	Other Major Characteristics of Partnerships
	Accounting and Financial Reporting Requirements for Partnerships
	International Financial Reporting Standards for Small and Medium-Sized 
Entities
Accounting for the Formation of a Partnership
	Illustration of Accounting for Partnership Formation
Accounting for Operations of a Partnership
	Partners? Accounts
Allocating Profit or Loss to Partners
	Illustrations of Profit Allocation
	Multiple Bases of Profit Allocation
	Special Profit Allocation Methods
Partnership Financial Statements
Changes in Membership
	General Concepts to Account for a Change in Membership in the Partnership
	New Partner Purchases an Interest
	New Partner Invests in Partnership
	Determining a New Partner?s Investment Cost
	Dissociation of a Partner from the Partnership
Summary of Key Concepts
Key Terms
Appendix 15A: Tax Aspects of a Partnership
Appendix 15B: Joint Ventures
Questions
Cases
Exercises
Problems
Chapter 16
Partnerships: Liquidation
Overview of Partnership Liquidations
	Dissociation, Dissolution, Winding Up, and Liquidation of a Partnership
Lump-Sum Liquidations
	Realization of Assets
	Expenses of Liquidation
	Illustration of Lump-Sum Liquidation
Installment Liquidations
	Illustration of Installment Liquidation
	Cash Distribution Plan
Additional Considerations
	Incorporation of a Partnership
Summary of Key Concepts
Key Terms
Appendix 16A: Partners? Personal Financial Statements
Questions
Cases
Exercises
Problems
Chapter 17
Governmental Entities: Introduction and General Fund Accounting
History of Governmental Accounting
Major Concepts of Governmental Accounting
	Elements of Financial Statements
	Expendability of Resources versus Capital Maintenance Objectives
	Definitions and Types of Funds
Financial Reporting of Governmental Entities
	Fund-Based Financial Statements: Government Funds
Measurement Focus and Basis of Accounting (MFBA)
	Basis of Accounting?Governmental Funds
	Basis of Accounting?Proprietary Funds
	Basis of Accounting?Fiduciary Funds
Budgetary Aspects of Governmental Operations
	Recording the Operating Budget
Accounting for Expenditures
	The Expenditure Process
	Classification of Expenditure Transactions and Accounts
	Outstanding Encumbrances at the End of the Fiscal Period
	Expenditures for Inventory
	Accounting for Fixed Assets
	Long-Term Debt and Capital Leases
	Investments
Interfund Activities
(1)	Interfund Loans
(2)	Interfund Services Provided and Used
(3)	Interfund Transfers
(4)	Interfund Reimbursements
Overview of Accounting and Financial Reporting for the General Fund
Comprehensive Illustration of Accounting for the General Fund
	Adoption of the Budget
	Property Tax Levy and Collection
	Other Revenue
	Expenditures
	Acquisition of Capital Asset
	Interfund Activities
	Adjusting Entries
	Closing Entries
	General Fund Financial Statement Information
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Problems
Chapter 18 
Governmental Entities: Special Funds and Government-wide Financial Statements
Governmental Funds Worksheets
Special Revenue Funds
Capital Projects Funds
	Illustration of Transactions
	Financial Statement Information for the Capital Projects Fund
Debt Service Funds
	Illustration of Transactions
	Financial Statement Information for the Debt Service Fund
Permanent Funds
	Illustration of Transactions
Governmental Funds Financial Statements
Enterprise Funds
	Illustration of Transactions
	Financial Statements for Proprietary Funds
Internal Service Funds
	Illustration of Transactions
	Financial Statements for Internal Service Funds
Trust Funds
	Illustration of a Private-Purpose Trust Fund
Agency Funds
	Illustration of Transactions in an Agency Fund
The Government Reporting Model
	Four Major Issues
	Government Financial Reports
	Government-wide Financial Statements
	Reconciliation Schedules
	Budgetary Comparison Schedule
	Management?s Discussion and Analysis
	Notes to the Government-wide Financial Statements
	Other Financial Report Items
	Interim Reporting
	Auditing Government Entities
Additional Considerations
	Special-Purpose Government Entities
	Financial Reporting for Pensions and OPEB Plans
Summary of Key Concepts
Key Terms
Appendix 18A: Other Governmental Entities?Public School Systems and the Federal 
 Government
Questions
Cases
Exercises
Problems
Chapter 19
Not-for-Profit Entities
Financial Reporting for Private, Not-for-Profit Entities
	Important FASB Standards for Not-for-Profit Entities
Colleges and Universities
	Special Conventions of Revenue and Expenditure Recognition
	Board-Designated Funds
	Public Colleges and Universities
	Private Colleges and Universities
Health Care Providers
	Hospital Accounting
	Financial Statements for a Not-for-Profit Hospital
	Comprehensive Illustration of Hospital Accounting and Financial Reporting
	Temporarily Restricted Funds
	Summary of Hospital Accounting and Financial Reporting
Voluntary Health and Welfare Organizations
	Accounting for a VHWO
	Financial Statements for a VHWO
	Summary of Accounting and Financial Reporting for VHWOs
Other Not-for-Profit Entities
	Accounting for ONPOs
	Financial Statements of ONPOs
	Summary of Accounting and Financial Reporting for ONPOs
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Problems
Chapter 20
Corporations in Financial Difficulty
Courses of Action
	Nonjudicial Actions
	Judicial Actions
Chapter 11 Reorganizations
	Fresh Start Accounting
	Plan of Reorganization
	Illustration of a Reorganization
Chapter 7 Liquidations
Classes of Creditors
	Secured Creditors
	Creditors with Priority
	General Unsecured Creditors
	Statement of Affairs
Additional Considerations
	Trustee Accounting and Reporting
Summary of Key Concepts
Key Terms
Questions
Cases
Exercises
Problems
Index

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