Critical Financial Accounting Problems: Issues and Solutions by Ahmed Riahi-Belkaoui

By Ahmed Riahi-Belkaoui

From the complexity of present day enterprise global and its day-by-day transactions has come a proliferation of latest accounting criteria. The monetary Accounting criteria Board has weighed in with its personal pronouncements at the matters, yet are they honestly understandable and appropriate? Riahi-Belkaoui explores those questions sincerely, with various illustrations of the accounting thoughts embedded in them, and gives interpretations designed to aid accounting pros care for those difficulties of their paintings. students, researchers, and scholars within the educational neighborhood also will locate his analyses valuable and compelling.

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Under the Par Value Method Common Stock, $10 par Treasury Stock (50 shares ϫ $10) $500 $500 ACCOUNTING FOR PREFERRED STOCK Preferred stock allows the holder to have rights not available to the common stockholders. One important right is a preference to dividends expressed as a percentage of par value if the preferred stock is issued with a par value, or as a specific dollar amount if the preferred stock is a no-par preferred stock. Other features include the following: Cumulative Preferred Stock Holders of cumulative preferred stocks are owed dividend in arrears for years the dividend is not declared, that is, not passed.

00 B. Pre-Restructure Value ϭ $12,671,092 C. Loss on Restructuring (12,671,092 Ϫ 5,567,448) ϭ $7,103,644 The following entries are made on December 31, 1996: A. By the Mario Company Notes Payable Gain on Restructuring of Debt $3,671,092 B. 10 shows the schedule of interest revenue computation for the bank. The following entries are made: A. By the Mario Company December 31, 1997/98/99/00 Notes Payable $600,000 Long-Term Liabilities Cash December 31, 2000 Notes Payable Cash B. 76 $6,000,000 $6,000,000 CONCLUSIONS This chapter covered the main techniques associated with accounting for long-term liabilities in conformity with the GAAP.

786. 4. ‘‘Accounting for Contingencies,’’ par. 15.

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