Financial Accounting Course

U.S. GAAP Codification Accounting Topics

Financial Statements 01
Examples and Practice Questions

U.S. GAAP Codification Accounting Textbooks
Financial Accounting Intermediate Accounting Advanced Accounting
U.S. GAAP by Topic Accounting by Topic

Examples of Financial Statements, Inc., Inc.  Balance Sheet, Inc.  Income Statement, Inc.  Statement of Cash Flows

Chevron Corporation

Chevron Corporation   Balance Sheet
Chevron Corporation  Income Statement
Chevron Corporation  Statement of Cash Flows


Cisco Systems, Inc.

Cisco Systems, Inc.  Balance Sheet
Cisco Systems, Inc.  Income Statement
Cisco Systems, Inc.  Statement of Cash Flows


Google, Inc.

Google, Inc.  Balance Sheet
Google, Inc.  Income Statement
Google, Inc.  Statement of Cash Flows


Intel Corporation

Intel Corporation  Balance Sheet
Intel Corporation  Income Statement
Intel Corporation  Statement of Cash Flows

Hewlett-Packard Company

Hewlett-Packard Company  Balance Sheet
Hewlett-Packard Company  Income Statement
Hewlett-Packard Company  Statement of Cash Flows

PepsiCo, Inc.

PepsiCo, Inc.  Balance Sheet
PepsiCo, Inc.  Income Statement
PepsiCo, Inc.  Statement of Cash Flows

Macy's, Inc.

Macy's, Inc.  Balance Sheet
Macy's, Inc.  Income Statement
Macy's, Inc.  Statement of Cash Flows

Microsoft Corporation

Microsoft Corporation  Balance Sheet
Microsoft Corporation  Income Statement
Microsoft Corporation  Statement of Cash Flows


Procter & Gamble Company

Procter & Gamble Company  Balance Sheet
Procter & Gamble Company  Income Statement
Procter & Gamble Company  Statement of Cash Flows


Practice Questions for  Financial Statements, Inc. 

As of December 31, 2008
Current assets = ?
Current liabilities = ?, Inc.  Balance Sheet

Chevron Corporation

Net income for 2008 = ?
Net income for 2007 = ?
Net income for 2006 = ?

Chevron Corporation  Income Statement

Cisco Systems, Inc.

For the year ended July 25, 2009
Net cash provided by operating activities = ?
Net cash used in investing activities = ?
Net cash provided by financing activities = ?
Cisco Systems, Inc.  Statement of Cash Flows

Google, Inc.

As of December 31, 2008
Goodwill = ?
Retained earnings = ?

Google, Inc.  Balance Sheet

Intel Corporation

For the year ended December 27, 2008
Research and development expenses = ?
Basic earnings per share = ?
Intel Corporation  Income Statement

Hewlett-Packard Company

For the year ended October 31, 2008
Cash and cash equivalents at the beginning of period = ?
Cash and cash equivalents at the end of period = ?
Increase or decrease in cash and cash equivalents = ?
Hewlett-Packard Company  Statement of Cash Flows

PepsiCo, Inc.

For the year ended December 27, 2008
Selling, general and administrative expenses = ?
Income before income taxes = ?

PepsiCo, Inc.  Income Statement 

Macy's, Inc.

As of January 31, 2009
Merchandise inventories = ?
Merchandise accounts payable = ?
Macy's, Inc.  Balance Sheet

Microsoft Corporation

For the year ended June 30, 2009
Research and development expenses = ?
Sales and marketing expenses = ?
Operating income = ?
Microsoft Corporation  Income Statement

Procter & Gamble Company

As of June 30, 2009
Accumulated depreciation for property, plant and equipment = ?
Trademarks and other intangible assets = ?
Additional paid-in capital = ?
Procter & Gamble Company  Balance Sheet


Codification Topics at the 100 Level 
Topic 105: Generally Accepted Accounting Principles

Codification Topics at the 200 Level 
Topic 205: Presentation of Financial Statements
Topic 210: Balance Sheet
Topic 215: Statement of Shareholder Equity
Topic 220: Comprehensive Income
Topic 225: Income Statement
Topic 230: Statement of Cash Flows
Topic 235: Notes to Financial Statements
Topic 250: Accounting Changes and Error Corrections
Topic 255: Changing Prices
Topic 260: Earnings per Share
Topic 270: Interim Reporting
Topic 272: Limited Liability Entities
Topic 274: Personal Financial Statements
Topic 275: Risks and Uncertainties
Topic 280: Segment Reporting

Codification Topics at the 300 Level 
Topic 305: Cash and Cash Equivalents
Topic 310: Receivables
Topic 320: Investments-Debt and Equity Securities
Topic 320-10-35: Transfers of Securities: Between Categories
Topic 323: Investments-Equity Method and Joint Ventures
Topic 325: Investments-Other
Topic 330: Inventory
Topic 340: Other Assets and Deferred Costs
Topic 350: Intangibles-Goodwill and Other
Topic 360: Property, Plant, and Equipment

Codification Topics at the 400 Level 
Topic 405: Liabilities
Topic 410: Asset Retirement and Environmental Obligations
Topic 420: Exit or Disposal Cost Obligations
Topic 430: Deferred Revenue
Topic 440: Commitments
Topic 450: Contingencies
Topic 460: Guarantees
Topic 470: Debt
Topic 480: Distinguishing Liabilities from Equity

U.S. GAAP Codification of Accounting Standards
Accounting Standards Codification, ASC, Overview
ASC Codification 100: General Principles
ASC Codification 200: Presentation
ASC Codification 300: Assets
ASC Codification 400: Liabilities
ASC Codification 500: Equity
ASC Codification 600: Revenue
ASC Codification 700: Expenses
ASC Codification 800: Broad Transactions
ASC Codification 900: Industry

U.S. GAAP by Codification Topic 
 105  GAAP Hierarchy 
 105  GAAP History 

 205  Presentation of Financial Statements 
 205-20 Discontinued Operations 
 210  Balance Sheet 
 210-20 Offsetting 
 220  Comprehensive Income 
 225  Income Statement 
 225-20 Extraordinary and Unusual Items 
 230  Statement of Cash Flows 
 250  Accounting Changes and Error Corrections 
 260  Earnings per Share 
 270  Interim Reporting
 310  Impairment of a Loan
 320  Investment Securities 
 320  Other-Than-Temporary Impairments, FSP FAS 115-2 
 320-10-05 Overview of Investments in Other Entities 
 320-10-35 Reclassification of Investments in Securities
 323-10 Equity Method Investments
 323-30 Investments in Partnerships and Joint Ventures 
 325-20 Cost Method Investments 
 330  Inventory

 340-20 Capitalized Advertising Costs 
 350-20 Goodwill 
 350-30 Intangibles Other than Goodwill 
 350-40 Internal-Use Software 
 350-50 Website Development Costs 
 360  Property, Plant and Equipment
 360-20 Real Estate Sales 
 410  Asset Retirement and Environmental Obligations 
 420  Exit or Disposal Cost Obligations 
 450  Contingencies 
 450-20 Loss Contingencies 
 450-30 Gain Contingencies
 480  Redeemable Financial Instruments 

 505-20 Stock Dividends, Stock Splits 
 505-30 Treasury Stock 

 605  SEC Staff Accounting Bulletin, Topic 13 
 605-25 Revenue Recognition - Multiple Element Arrangements 
 715-30 Defined Benefit Plans - Pension
 718  Share-Based Payment 
 730  Research and Development 
 730-20 Research and Development Arrangements 

 805  Business Combinations  
 810  Consolidation 
 810  Noncontrolling Interests 
 810  Consolidation of Variable Interest Entities, SFAS 167 
 815  Derivatives and Hedging Overview 

 820  Fair Value Measurements  
 820  Fair value when the markets are not active, FSP FAS 157-4
 825  Fair Value Option 

 830  Foreign Currency Matters 
 830-20 Foreign Currency Transactions 
 830-30 Translation of Financial Statements 
 835  Interest 
 835-20 Capitalization of Interest 
 835-30 Imputation of Interest 

 840  Leases 
 840-20 Operating Leases 
 840-30 Capital Leases 
 840-40 Sale-Leaseback Transactions
 845  Nonmonetary Transactions 

 855  Subsequent Events 
 860-20 Sale of Financial Assets, SFAS 166 
 860-50 Servicing Assets and Liabilities, SFAS 156 

 985-20 Costs of software to be sold  

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