tailieunhanh - Ebook Principles of accounting: Part 2

(BQ) Part 2 book "Principles of accounting" has contents: Accounting for investments, managerial accounting, job order costing, financial statement analysis, incremental analysis and capital budgeting, decentralized performance evaluation, budgetary control, budgetary planning,.and other contents. | Confirming Pages To download more slides, ebook, solutions and test bank, visit 14 Long-Term Liabilities LEARNING OBJECTIVES After completing this chapter, you should be able to: LO1 Explain how to measure long-term liabilities. LO2 Demonstrate how to account for discounted notes payable. LO3 Demonstrate how to account for bonds payable. LO4 Explain how to account for lease liabilities. LO5 Calculate and interpret the debt-to-assets and times interest earned ratios. Lectured presentation–14-1 598 598 10/4/08 3:50:42 PM Confirming Pages To download more slides, ebook, solutions and test bank, visit Focus Company: GENERAL MILLS, INC. Maker of Pillsbury, Green Giant, Cheerios, and More A fter turning in their report, they eagerly await their grade. They are expecting an A and would be devastated if they got a B. A group of high-achieving students waiting for their project grade? They could be, but these hopeful characters are actually the Jolly Green Giant, Lucky the Leprechaun, Poppin’ Fresh, and their corporate bosses at General Mills. That’s right, this magically delicious company and all its brands receive a letter grade just as you do. The grading process is a bit different from yours because credit-rating agencies such as Standard & Poor’s, Fitch, and Moody’s assign their grades based on the company’s ability to pay its liabilities on time. And instead of ranging from A to F, their grade can range from AAA to D. The AAA rating is given only to companies in rock-solid financial condition, and the D goes to those likely to pay less than half of what they owe. In general, any grade above a BB is considered a good to high-quality credit rating, which is what General Mills typically earns. In this chapter, you will learn about the accounting procedures and financial ratios used to report and interpret .