Financial Accounting and Reporting 2nd edition

Textbook Cover

L Murphy Smith, Katherine Taken Smith, Shannon Knight Deer
Publisher: Wolters Kluwer Tax & Accounting

eBook

eBook

Your students can pay an additional fee for access to an online version of the textbook that might contain additional interactive features.


Access is contingent on use of this textbook in the instructor's classroom.

Academic Term Homework Homework and eBook eBook Upgrade
Higher Education Single Term $40.95 $65.95 $25.00
High School $20.50 $45.50 $25.00

Online price per student per course or lab, bookstore price varies. Access cards can be packaged with most any textbook, please see your textbook rep or contact WebAssign

  • Chapter 1: The Accounting Information System
    • 101: Applications to People Within and Outside the Firm
    • 102: Accounting and You
    • 103: The Accounting Information System (AIS)
    • 104: Forms of Businesses
    • 105: Accounting Standard Setting
    • 106: Accounting Concepts
    • 107: Concluding Remarks
    • 1: Short Exercises – Set A (8)
    • 1: Short Exercises – Set B (8)
    • 1: Test Prepper: True/False Questions (10)
    • 1: Test Prepper: Multiple-Choice Questions (10)
    • 1: Test Bank (103)

  • Chapter 2: The Financial Statements
    • 201: Applications to People Within and Outside the Firm
    • 202: Financial Accounting Reports: the Four Financial Statements
    • 203: Relationship Among Financial Statements
    • 204: A Case Study: Financial Statements of Apple Inc.
    • 205: Concluding Remarks
    • 2: Problems – Set A (7)
    • 2: Problems – Set B (7)
    • 2: Test Prepper: True/False Questions (10)
    • 2: Test Prepper: Multiple-Choice Questions (10)
    • 2: Test Bank (114)

  • Chapter 3: Accounting Transaction Processing
    • 301: Applications to People Within and Outside the Firm
    • 302: Evaluating a Business Transaction
    • 303: Relationships Among Accounts
    • 304: Basic Transactions
    • 305: Debits, Credits, and the T Account
    • 306: Recording General Journal Entries
    • 307: Posting to the General Ledger
    • 308: Creating A Trial Balance
    • 309: Concluding Remarks
    • 3: Problems – Set A (6)
    • 3: Problems – Set B (6)
    • 3: Test Prepper: True/False Questions (10)
    • 3: Test Prepper: Multiple-Choice Questions (10)
    • 3: Test Bank (102)

  • Chapter 4: Measuring Profitability and Financial Position on the Financial Statements
    • 401: Applications to People Within and Outside the Firm
    • 402: The Business Cycle
    • 403: The Accounting Process
    • 404: Accrual Basis Accounting
    • 405: Adjusting Journal Entries
    • 406: Preparing the Adjusted Trial Balance
    • 407: Preparing Closing Journal Entries
    • 408: Preparing the Financial Statements
    • 409: Financial Statement Format
    • 410: Ethical Issues Pertaining to Accrual Accounting
    • 411: Concluding Remarks
    • 4: Problems – Set A (9)
    • 4: Problems – Set B (9)
    • 4: Test Prepper: True/False Questions (10)
    • 4: Test Prepper: Multiple-Choice Questions (10)
    • 4: Test Bank (102)

  • Chapter 5: Cash, Internal Controls, and Ethics
    • 501: Applications to People Within and Outside the Firm
    • 502: Cash and Cash Equivalents
    • 503: Internal Control over Cash
    • 504: Components of Internal Control Structure
    • 505: Auditing the Financial Statements
    • 506: Making Ethical Decisions
    • 507: Concluding Remarks
    • 5: Problems – Set A (7)
    • 5: Problems – Set B (7)
    • 5: Test Prepper: True/False Questions (10)
    • 5: Test Prepper: Multiple-Choice Questions (10)
    • 5: Test Bank (101)

  • Chapter 6: Accounts Receivable and Notes Receivable
    • 601: Applications to People Within and Outside the Firm
    • 602: Types of Receivables
    • 603: Accounts Receivable
    • 604: Uncollectible Accounts Receivable
    • 605: Notes Receivable
    • 606: Managing Receivables and Cash
    • 607: Analyzing Liquidity and Receivables
    • 608: Concluding Remarks
    • 6: Problems – Set A (16)
    • 6: Problems – Set B (15)
    • 6: Test Prepper: True/False Questions (10)
    • 6: Test Prepper: Multiple-Choice Questions (10)
    • 6: Test Bank (100)

  • Chapter 7: Accounting for the Merchandising Firm
    • 701: Applications to People Within and Outside the Firm
    • 702: What Is Inventory?
    • 703: Cost of Goods Sold
    • 704: Inventory Costing Methods
    • 705: Periodic vs. Perpetual Systems
    • 706: Evaluating Inventory
    • 707: Application of Accounting Concepts
    • 708: International Issues
    • 709: Concluding Remarks
    • 7: Problems – Set A (10)
    • 7: Problems – Set B (10)
    • 7: Test Prepper: True/False Questions (10)
    • 7: Test Prepper: Multiple-Choice Questions (10)
    • 7: Test Bank (101)

  • Chapter 8: Plant Assets, Intangibles, and Long-Term Investments
    • 801: Applications to People Within and Outside the Firm
    • 802: Cross-Functional Issues Regarding Asset Purchases
    • 803: Cost of Plant Assets
    • 804: Depreciating Plant Assets
    • 805: Disposal of Depreciable Plant Assets
    • 806: Natural Resources and Depletion
    • 807: Intangible Assets and Amortization
    • 808: Long-Term Investments
    • 809: Concluding Remarks
    • 8: Problems – Set A (12)
    • 8: Problems – Set B (12)
    • 8: Test Prepper: True/False Questions (10)
    • 8: Test Prepper: Multiple-Choice Questions (10)
    • 8: Test Bank (101)

  • Chapter 9: Liabilities
    • 901: Applications to People Within and Outside the Firm
    • 902: Current Liabilities
    • 903: Long-Term Liabilities
    • 904: Raising Capital: Stocks vs. Bonds
    • 905: Evaluating the Level of Debt
    • 906: Lease Liabilities
    • 907: Pensions and Post-Retirement Benefits
    • 908: Concluding Remarks
    • 9: Problems – Set A (9)
    • 9: Problems – Set B (9)
    • 9: Test Prepper: True/False Questions (10)
    • 9: Test Prepper: Multiple-Choice Questions (10)
    • 9: Test Bank (100)

  • Chapter 10: Accounting for the Corporation
    • 1001: Applications to People Within and Outside the Firm
    • 1002: Characteristics of the Corporate Form of Business
    • 1003: Common Stock
    • 1004: Preferred Stock
    • 1005: Stock Dividends and Stock Splits
    • 1006: Stock Option
    • 1007: Treasury Stock
    • 1008: Concluding Remarks
    • 10: Problems – Set A (10)
    • 10: Problems – Set B (10)
    • 10: Test Prepper: True/False Questions (10)
    • 10: Test Prepper: Multiple-Choice Questions (10)
    • 10: Test Bank (100)

  • Chapter 11: More about the Income Statement and Statement of Stockholders' Equity
    • 1101: Applications to People Within and Outside the Firm
    • 1102: Corporate Income Statement
    • 1103: Statement of Stockholders' Equity
    • 1104: Ethical and Legal Responsibility for the Financial Statements
    • 1105: Concluding Remarks
    • 11: Problems – Set A (10)
    • 11: Problems – Set B (10)
    • 11: Test Prepper: True/False Questions (10)
    • 11: Test Prepper: Multiple-Choice Questions (10)
    • 11: Test Bank (100)

  • Chapter 12: The Statement of Cash Flows
    • 1201: Applications to People Within and Outside the Firm
    • 1202: The Importance of Cash Flows
    • 1203: Preparing the Statement of Cash Flows
    • 1204: Making Decisions Based on the Statement of Cash Flows
    • 1205: Concluding Remarks
    • 12: Problems – Set A (10)
    • 12: Problems – Set B (10)
    • 12: Test Prepper: True/False Questions (10)
    • 12: Test Prepper: Multiple-Choice Questions (10)
    • 12: Test Bank (102)

  • Chapter 13: Financial Statement Analysis
    • 1301: Applications to People Within and Outside the Firm
    • 1302: Analyzing Financial Performance
    • 1303: Financial Ratios
    • 1304: Vertical Analysis
    • 1305: Horizontal Analysis
    • 1306: Trend Analysis
    • 1307: Comparative Analysis
    • 1308: Concluding Remarks
    • 13: Problems – Set A (12)
    • 13: Problems – Set B (12)
    • 13: Test Prepper: True/False Questions (10)
    • 13: Test Prepper: Multiple-Choice Questions (10)
    • 13: Test Bank (102)

  • Chapter 14: Accounting for Global Commerce
    • 1401: Applications to People Within and Outside the Firm
    • 1402: Accounting for Global Commerce
    • 1403: International Financial Reporting Standards
    • 1404: International Standards on Auditing
    • 1405: Restating Foreign Subsidiary Financial Statements
    • 1406: Working in a Different Culture
    • 1407: Concluding Remarks
    • 14: Problems – Set A (6)
    • 14: Problems – Set B (6)
    • 14: Test Prepper: True/False Questions (10)
    • 14: Test Prepper: Multiple-Choice Questions (10)
    • 14: Test Bank (100)


Financial Accounting and Reporting, 2nd edition, by Murphy Smith, Katherine Taken Smith and Shannon Knight Deer, is especially designed to present financial accounting in a one-sequence course in 2-year or 4-year colleges. The book can also effectively be used in a graduate-level financial accounting course for MBA students who are from non-business major backgrounds.

The WebAssign component for this title features:

  • Question links to appropriate sections of the eBook
  • Test Prepper questions to prepare students for exams
  • A test bank of true/false, multiple choice, and matching questions from each chapter
  • Problem Sets that let students apply their accounting knowledge with two separate sets for different semesters
  • Short Exercises from the first chapter to help students build accounting skills


Question Group Key
EA - Short Exercises: Set A
EB - Short Exercises: Set B
PA - Problems: Set A
PB - Problems: Set B
TF - Test Prepper: True/False Questions
MC - Test Prepper: Multiple-Choice Questions
TB - Test Bank


Question Availability Color Key
BLACK questions are available now
GRAY questions are under development


Group Quantity Questions
Chapter 1: The Accounting Information System
1.EA 8 001 002 003 004 005 006 007 008
1.EB 8 001 002 003 004 005 006 007 008
1.MC 10 001 002 003 004 005 006 007 008 009 010
1.TB 103 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101 102 103
1.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 2: The Financial Statements
2.MC 10 001 002 003 004 005 006 007 008 009 010
2.PA 7 001 002 003 004 005 006 008
2.PB 7 001 002 003 004 005 006 008
2.TB 114 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114
2.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 3: Accounting Transaction Processing
3.MC 10 001 002 003 004 005 006 007 008 009 010
3.PA 6 001 002 003 004 005 006
3.PB 6 001 002 003 004 005 006
3.TB 102 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101 102
3.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 4: Measuring Profitability and Financial Position on the Financial Statements
4.MC 10 001 002 003 004 005 006 007 008 009 010
4.PA 9 001 002 003 004 005 006 007 008 009
4.PB 9 001 002 003 004 005 006 007 008 009
4.TB 102 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101 102
4.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 5: Cash, Internal Controls, and Ethics
5.MC 10 001 002 003 004 005 006 007 008 009 010
5.PA 7 001 002 003 004 005 006 007
5.PB 7 001 002 003 004 005 006 007
5.TB 101 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101
5.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 6: Accounts Receivable and Notes Receivable
6.MC 10 001 002 003 004 005 006 007 008 009 010
6.PA 16 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016
6.PB 15 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015
6.TB 100 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100
6.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 7: Accounting for the Merchandising Firm
7.MC 10 001 002 003 004 005 006 007 008 009 010
7.PA 10 001 002 003 004 005 006 007 008 009 010
7.PB 10 001 002 003 004 005 006 007 008 009 010
7.TB 101 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101
7.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 8: Plant Assets, Intangibles, and Long-Term Investments
8.MC 10 001 002 003 004 005 006 007 008 009 010
8.PA 12 001 002 003 004 005 006 007 008 009 010 011 012
8.PB 12 001 002 003 004 005 006 007 008 009 010 011 012
8.TB 101 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101
8.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 9: Liabilities
9.MC 10 001 002 003 004 005 006 007 008 009 010
9.PA 9 001 002 003 004 005 006 007 008 009
9.PB 9 001 002 003 004 005 006 007 008 009
9.TB 100 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100
9.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 10: Accounting for the Corporation
10.MC 10 001 002 003 004 005 006 007 008 009 010
10.PA 10 001 002 003 004 005 006 007 008 009 010
10.PB 10 001 002 003 004 005 006 007 008 009 010
10.TB 100 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100
10.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 11: More about the Income Statement and Statement of Stockholders' Equity
11.MC 10 001 002 003 004 005 006 007 008 009 010
11.PA 10 001 002 003 004 005 006 007 008 009 010
11.PB 10 001 002 003 004 005 006 007 008 009 010
11.TB 100 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100
11.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 12: The Statement of Cash Flows
12.MC 10 001 002 003 004 005 006 007 008 009 010
12.PA 10 001 002 003 004 005 006 007 008 009 010
12.PB 10 001 002 003 004 005 006 007 008 009 010
12.TB 102 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101 102
12.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 13: Financial Statement Analysis
13.MC 10 001 002 003 004 005 006 007 008 009 010
13.PA 12 001 002 003 004 005 006 007 008 009 010 011 012
13.PB 12 001 002 003 004 005 006 007 008 009 010 011 012
13.TB 102 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100 101 102
13.TF 10 001 002 003 004 005 006 007 008 009 010
Chapter 14: Accounting for Global Commerce
14.MC 10 001 002 003 004 005 006 007 008 009 010
14.PA 6 001 002 003 004 005 006
14.PB 6 001 002 003 004 005 006
14.TB 100 001 002 003 004 005 006 007 008 009 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 031 032 033 034 035 036 037 038 039 040 041 042 043 044 045 046 047 048 049 050 051 052 053 054 055 056 057 058 059 060 061 062 063 064 065 066 067 068 069 070 071 072 073 074 075 076 077 078 079 080 081 082 083 084 085 086 087 088 089 090 091 092 093 094 095 096 097 098 099 100
14.TF 10 001 002 003 004 005 006 007 008 009 010
Total 1971