CONTENTS xxix Rearrangements 624 Costs of Defending Intangible Rights 624 Appendix 11A: Comparison with MACRS (Tax Depreciation) 627 Appendix 11B: Retirement and Replacement Methods of Depreciation 628 Concept Review Exercise: Impairment 621 Part C: Subsequent Expenditures 622 Expenditures Subsequent to Acquisition 622 Repairs and Maintenance 623 Additions 623 Improvements 623 3 Financial Instruments and Liabilities Open Accounts and Notes 733 Accounts Payable and Trade Notes Payable 733 Short-Term Notes Payable 734 Commercial Paper 737 Accrued Liabilities 737 Accrued Interest Payable 737 Salaries, Commissions, and Bonuses 738 Liabilities from Advance Collections 740 Deposits and Advances from Customers 740 Gift Cards 742 Collections for Third Parties 742 A Closer Look at the Current and Noncurrent Classification 743 Current Maturities of Long-Term Debt 743 Obligations Callable by the Creditor 743 When Short-Term Obligations Are Expected to Be Refinanced 743 Concept Review Exercise: Current Liabilities 745 Part B: Contingencies 746 Loss Contingencies 746 Product Warranties and Guarantees 748 Litigation Claims 751 Subsequent Events 752 Unasserted Claims and Assessments 754 Gain Contingencies 756 Concept Review Exercise: Contingencies 757 Decision Makers’ Perspective 758 Appendix 13: Payroll-Related Liabilities 761 14 C H A P T E R Bonds and Long-Term Notes 788 The Nature of Long-Term Debt 789 Part A: Bonds 790 The Bond Indenture 790 Recording Bonds at Issuance 791 Determining the Selling Price 791 Determining Interest—Effective Interest Method 794 Zero-Coupon Bonds 796 Bonds Sold at a Premium 796 When Financial Statements Are Prepared between Interest Dates 798 The Straight-Line Method—A Practical Expediency 799 12 C H A P T E R Investments 654 Part A: Investor Lacks Significant Influence 656 Securities to Be Held to Maturity 658 Trading Securities 661 Securities Available-for-Sale 665 Comparison of HTM, TS, and AFS Approaches 671 Transfers between Reporting Categories 673 Fair Value Option 674 Impairment of Investments 675 Concept Review Exercise: Various Investment Securities 677 Financial Statement Presentation and Disclosure 679 Part B: Investor Has Significant Influence 681 How the Equity Method Relates to Consolidated Financial Statements 681 What Is Significant Influence? 682 A Single Entity Concept 682 Further Adjustments 684 Reporting the Investment 686 What If Conditions Change? 688 If an Equity Method Investment Is Sold 689 Comparison of Fair Value and the Equity Method 689 Fair Value Option 690 Concept Review Exercise: The Equity Method 691 Decision Makers’ Perspective 692 Financial Instruments and Investment Derivatives 693 Appendix 12A: Other Investments (Special Purpose Funds, Investments in Life Insurance Policies) 696 Appendix 12B: Impairment of Investments 697 13 C H A P T E R Current Liabilities and Contingencies 730 Part A: Current Liabilities 732 Characteristics of Liabilities 732 What Is a Current Liability? 733
Spiceland_Inter_Accounting8e_TOC
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