Intermediate accounting delves into the more complex, more challenging aspects of accounting practices. The bestselling book on intermediate accounting, Kieso is an excellent reference for practicing accountants and an invaluable resource for anyone entering the field. Intermediate accounting involves advanced time value issues, such as deferred annuities and long-term bonds. Annuities are multiple payments over a period of time that you either make or receive. Deferred annuities are a type of annuity contract that delays payments to the investor until the investor elects to receive them. Long-terms bonds are bonds a business holds in another company that extends out more than twelve months into the future. How the fundamentals are applied to actually keeping financial records and preparing reports includes similar course approaches, whether you are studying at Harvard, Franklin University in Ohio or California State University-Fullerton. Over two semesters, students learn how to prepare income statements and cash flow statements. They learn how to prepare balance sheets. Topics include accounting for liabilities, leases, taxes, pension benefits and earnings per share. Understand financial statements. When learning intermediate accounting, you must understand the importance of financial statements, which are used to evaluate the success of a business. Financial statements are analyzed in the form of trends, common-size and ratios. Trend analysis focuses on the percentage change of an account. Common-size analysis refers to the percentage calculations in terms of the total amount of assets on a single balance sheet. Ratio analysis is the calculation of a ratio based on the different aspects of a business, such as liabilities and assets. This book is designed to give students with a basic understanding of financial accounting a more thorough understanding of the intricacies of the generally accepted accounting principles (GAAP) that guide publicly available financial statements.

Business