個案資料

Financial Reporting Standards is a ten-chapter book written by David T. Doran, a former CPA with Coopers & Lybrand and current professor of financial accounting at Penn State Erie, The Behrend College. The book was published in July of 2012 by Business Expert Press. Written for practicing managers, MBA students, and undergraduate non-accounting business majors, the text emphasizes how management's choice of accounting methods and their required estimates in reporting transactions and events impact financial statements, both immediately and in the future. Most of the topics addressed in this book are typically studied by accounting majors in the two-course "intermediate" accounting sequence, but the text also includes discussion of consolidations, a topic generally covered in the "advanced" accounting course.. By exclusively applying a user's decision-making emphasis, and limiting topical content to areas relevant to financial analysis, this book allows non-accounting majors to acquire the underlying knowledge in a concise and easy to understand text. Chapter 3 concentrates on inventory and its related expense, the cost of goods sold. Initial topics discussed include: the full cost principle, purchases returns, allowances, and discounts, and the lower cost or market. Methods for determining inventory and cost of goods sold amounts in the financial statements, including the specific identification method, First-In First-Out (FIFO) and Last-In First-Out (LIFO), and the average cost method, are examined in detail. The respective impacts on the financial statements presented by the choice of inventory method are then explored. Lastly, additional issues related to LIFO are discussed.

• Accounting standards
• Financing
• Cash flow
• Profitability
• Financial statements