tailieunhanh - Lecture Accounting: Tools for business decision making (5th edition): Chapter 5 - Kimmel, Weygandt, Kieso

Chapter 5 - Merchandising operations and the multiple-step income statement. After studying this chapter, you should be able to: Describe merchandising operations and inventory systems, record purchases under a perpetual inventory system, record sales under a perpetual inventory system, prepare a multiple-step income statement and a comprehensive income statement. | MERCHANDISING OPERATIONS AND THE MULTIPLE-STEP INCOME STATEMENT Accounting, Fifth Edition 5 After studying this chapter, you should be able to: Identify the differences between a service company and a merchandising company. Explain the recording of purchases under a perpetual inventory system. Explain the recording of sales revenues under a perpetual inventory system. Distinguish between a single-step and a multiple-step income statement. Determine cost of goods sold under a periodic system. Explain the factors affecting profitability. Identify a quality of earnings indicator. Learning Objectives Preview of Chapter 5 Accounting Fifth Edition Kimmel Weygandt Kieso Merchandising Operations LO 1 Identify the differences between service and merchandising companies. Merchandising Companies Buy and Sell Goods Wholesaler Consumer The primary source of revenues is referred to as sales revenue or sales. Retailer Merchandising Operations LO 1 Identify the differences between service and merchandising companies. Income Measurement Cost of goods sold is the total cost of merchandise sold during the period. Not used in a Service business. Net Income (Loss) Less Less Equals Equals Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Illustration 5-1 Income measurement process for a merchandising company The operating cycle of a merchandising company ordinarily is longer than that of a service company. Illustration 5-2 LO 1 Identify the differences between service and merchandising companies. Operating Cycles Merchandising Operations Flow of Costs Companies use either a perpetual inventory system or a periodic inventory system to account for inventory. LO 1 Identify the differences between service and merchandising companies. Merchandising Operations Illustration 5-3 Perpetual System LO 1 Identify the differences between service and merchandising companies. Merchandising Operations Maintain detailed records of the cost of each inventory purchase and sale. Records . | MERCHANDISING OPERATIONS AND THE MULTIPLE-STEP INCOME STATEMENT Accounting, Fifth Edition 5 After studying this chapter, you should be able to: Identify the differences between a service company and a merchandising company. Explain the recording of purchases under a perpetual inventory system. Explain the recording of sales revenues under a perpetual inventory system. Distinguish between a single-step and a multiple-step income statement. Determine cost of goods sold under a periodic system. Explain the factors affecting profitability. Identify a quality of earnings indicator. Learning Objectives Preview of Chapter 5 Accounting Fifth Edition Kimmel Weygandt Kieso Merchandising Operations LO 1 Identify the differences between service and merchandising companies. Merchandising Companies Buy and Sell Goods Wholesaler Consumer The primary source of revenues is referred to as sales revenue or sales. Retailer Merchandising Operations LO 1 Identify the differences between service and .

• Kế toán - Kiểm toán
• Merchandising operations
• Multiple step income statement
• Financial Statements
• Making business decision
• Business decision tool
• Lecture Accounting
• Financial accounting
• Lecture Financial accounting
• Accounting information
• Management accounting
• Accounting standards
• Accounting equation
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting process
• Accounting processing cycle
• Managerial accounting
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Lecture Accounting 1
• Accounting for main transactions
• Accounting for purchases
• Accounting for sales
• Accounting for expenses
• Principle of accounting
• Lecture Principle of accounting
• The basic accounting equation
• Transaction analysis in accounting equation
• Calculate the accounting equation
• Lecture Advanced financial accounting
• Bài giảng Kế toán tài chính nâng cao
• Advanced financial accounting
• Accounting policies
• Accounting estimate
• Retrospective application
• Changes in accounting estimates
• Retrospective restatements
• Accounting assumptions
• Lecture Management accounting
• Bài giảng Kế toán quản trị
• Nature of management accounting
• Component of accounting system
• Financial system
• Lecture Accounting and financial system
• Ledger accounting
• Trial balance
• Completing the accounting cycle
• Accounting cycle
• Accounting worksheet
• Classified balance sheet
• Accounting changes
• Error corrections
• Accounting choices
• Accounting for business
• Lecture Accounting for business
• Accounting entity
• Classification of assets
• Accounting equation transactions