《会计学——数字意味着什么》（第9版，双语教学版）是一本让读者熟悉和理解公司和其他经济组织财务报告的会计用书。《会计学——数字意味着什么》的目的不是让读者成为编制财务报表的行家，而是让读者略过会计流程的技术细节，了解会计数字之间的关系。因此，近30年来，《会计学——数字意味着什么》英文原版一直是美国会计学入门课程用量最大的四本书之一。
《会计学——数字意味着什么》包括财务会计和管理会计两个部分，共16章。具体章节如下：会计的今与昔；财务报表及会计概念与原则；财务报表数据的基本解释；簿记过程和会计事项分析；流动资产的会计处理和列示；不动产、厂房、设备及其他非流动资产的会计处理和列示；负债的会计处理和列示；财务报表分析；成本计划；成本控制等。
David H.
Marshall is
Professor of Accounting Emeritus at Millikin University.He taught at Millikin,
a small, independent university located in Decatur, Illinois, for25 years. He taught courses in accounting,
finance, computer information systems, and business policy, and was recognized
as an outstanding teacher. The draft manuscript of this book was written in
1986 and used in a one-semester course that was developed for the non-business
major. Subsequently supplemented with cases, it was used in the business core accounting
principles and managerial accounting courses. Concurrently, a one-credit hour accounting
laboratory taught potential accounting majors the mechanics of the accounting process.
Prior to his teaching career, Marshall worked in public accounting and industry
and he earned an MBA from Northwestern University. Professor Marshall’s interests
outside academia include community service, woodturning, sailing, and travel.
Wayne W. McManus makes his home in Grand Cayman,
Cayman Islands, BWI, where he worked in the private banking sector for several
years and is now a semiretired consultant. He maintains an ongoing relationship
with the International College of the Cayman Islands as an adjunct Professor of
Accounting and Law and as a member of the College’s Board of Trustees. McManus
now offers the Cayman CPA Review course through the Financial Education
Institute Ltd. and several professional development courses through the Chamber
of Commerce. He earned an M.S. in accounting from Illinois State University, an
MBA from the University of Kansas, a law degree from Northern Illinois
University,
and a master’s of law in taxation from the University of Missouri-Kansas City. He
serves as a director of Endeavour Financial Corp. (EDV on the TSX exchange). He
is an active member of the Cayman Islands Society of Professional Accountants
and the local chapter of the CFA Institute. Professor McManus volunteers as a
“professional” Santa each December, enjoys travel, golf, and scuba diving, and
is an audio/video enthusiast.
Daniel F. Viele is Professor of Accounting and currently
serves as Associate Vice President for Academic Affairs at Webster University.
He teaches courses in financial, managerial, and cost accounting, as well as
accounting information systems. He has developed and taught numerous online
graduate courses and for his leadership role in pioneering online teaching and
learning, the university presented him with a Presidential Recognition Award.
Professor Viele’s students and colleagues have also cited him its highest
honor—the Kemper Award for Teaching Excellence. Prior to joining Webster
University in 1998, he served as a systems consultant to the graphics arts University
with Professor Marshall. Professor Viele holds an M.S. in Accounting from Colorado
State University and has completed the Information Systems Faculty Development his
dedication to teaching and innovative use of technology and in 2002 Webster
awarded industry, and his previous teaching experience includes 10 years at
Millikin Institute at the University of Minnesota and the Advanced Information
Systems Faculty Development Institute at Indiana University. He is a member of
the American Accounting Association and the Institute of Management Accountants
where he has served as President of the Sangamon Valley Chapter and as a member
of the National Board of Directors. Professor Viele enjoys sports of all kind,
boating, and a good book.
Liquidity Measures
The liquidity measures of working
capital, current ratio, and acid-test ratio were discussed in Chapter 3. One
point that deserves reemphasis is the effect of the inven- tory cost-flow
assumption on working capital. The balance sheet carrying value of inventories
will depend on whether the weighted-average, FIFO, or LIFO assumption is used.
In periods of rising prices, a firm using the FIFO cost-flow assumption will
report a relatively higher asset value for inventories than a similar firm
using the LIFO cost-flow assumption. Thus, even though the firms may be similar
in all other respects, they will report different amounts of working capital,
and they will have different cur- rent ratios. Therefore, a direct comparison
of the liquidity of the two firms by using these measures is not possible. To
ease this reporting difficulty, many firms using the LIFO method will disclose
a LIFO reserve amount in the explanatory footnotes sec- tion of their annual
reports. The LIFO reserve is the difference between the inventory valuation as
reported under the LIFO basis and the amount that would have been reported
under the FIFO basis. For example, the Eastman Kodak Company disclosed a LIFO
reserve of $291 million in its 2005 annual report, which would have increased
the firm’s reported inventory by 26%. Not surprisingly, Kodak switched from
LIFO to the weighted-average inventory method (which for them approximates
FIFO) on January 1, 2006, and thus has been able to report substantially higher
inventory values on subsequent balance sheets. Of course, the differences
caused by the LIFO–FIFO selection are often less dramatic for firms operating
in other industries, as suggested by the LIFO reserves disclosed in 2008 by
General Motors (9% of reported inventory) and General Electric (only 5%). Intel
Corporation’s inventories are reported on a basis that approximates FIFO (see
page 695 in the appendix).
Even more significant to suppliers or potential suppliers/creditors of
the firm than the aggregate working capital or liquidity ratios is the firm’s
current and recent pay- ment experience. Suppliers/creditors want to know
whether or not the firm is paying its bills promptly. One indication of this is
whether all cash discounts for prompt payment (e.g., for payment terms of 2/10,
net 30) are being taken. Information about current and recent payment practices
can be obtained by contacting other suppliers or credit bureaus and by
reviewing Dun & Bradstreet reports (see Business in Practice—Credit Rating
and Financial Analysis Services).
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