current assets Larry M. Walther; Christopher J. Skousen

Larry M. Walther; Christopher J. Skousen
Current Assets
Download free books at
Download free eBooks at bookboon.com
2
Current Assets
© 2009 Larry M. Walther, under nonexclusive license to Christopher J. Skousen &
Ventus Publishing ApS All material in this publication is copyrighted, and the exclusive
property of Larry M. Walther or his licensors (all rights reserved).
ISBN 978-87-7681-485-4
Download free eBooks at bookboon.com
Click on the ad to read more
Current Assets

3
Contents
8
9
10
10
11
12
12
15
15
15
16
16
18
18
19

21
24
24
25
27
29
Contents
Part 1. Special Issues for Merchants
1. The Merchandising Operation - Sales
1.1 Sales
1.2 Sales Returns and Allowances
1.3 Trade Discounts
1.4 Credit Cards
1.5 Cash Discounts
2. Purchase Considerations for Merchandising Business
2.1 Merchandise Acquisition
2.2 Periodic Inventory System
2.3 Purchase Returns and Allowances
2.4 Cash Discount
2.5 Gross Recording of Purchases/Discounts
2.6 Net Recording of Purchases/Discounts Lost
2.7 Comparison of Gross vs. Net
2.8 Freight Charges
2.9 The Calculation of Net Purchases
2.10 Cost of Goods Sold
2.11 Detailed Income Statement for Merchandise Operation
2.12 Closing Entries

3. Alternative Inventory System
www.sylvania.com

We do not reinvent
the wheel we reinvent
light.
Fascinating lighting offers an infinite spectrum of
possibilities: Innovative technologies and new
markets provide both opportunities and challenges.
An environment in which your expertise is in high
demand. Enjoy the supportive working atmosphere
within our global group and benefit from international
career paths. Implement sustainable ideas in close
cooperation with other specialists and contribute to
influencing our future. Come and join us in reinventing
light every day.
Light is OSRAM
Download free eBooks at bookboon.com
Click on the ad to read more
Current Assets

4
Contents
4. Income Statement Enhancements
4.1 Analysis of a Detailed Income Statement
5. The Control Structure
5.1 Internal Control in the Merchandising Environment
5.2 Internal Control and the Purchasing Cycle
5.3 Generalizing About Control
Part 2. Cash and Highly-Liquid Investments
6. Cash Composition
6.1 Cash Equivalents
7. Cash Management

7.1 Strategies to Enhance Cash Flows

8. Bank Reconciliation
8.1 Comprehensive Illustration of Bank Reconciliation
8.2 Proof of Cash
9. Petty Cash
9.1 Replenishment of Petty Cash
9.2 Cash Short and Over
9.3 Increasing the Base Fund
10. Trading Securities
10.1 An Illustration
10.2 Rationale for Fair Value Accounting
31
33
35
36
37
37
39
40
40
41
41
44
46
50
52
52
53
54

55
55
56
360°
thinking
.
© Deloitte & Touche LLP and affiliated entities.
Discover the truth at www.deloitte.ca/careers