New York University

These lecture notes from Chapter 10 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge explain the accounting and reporting of bond securities. Topics include the characteristics of bonds, issuance at par, discount, and premium, and how each impacts interest expense and financial statements. The notes cover key financial ratios such as the times interest earned ratio and the debt-to-equity ratio, which assess a company’s ability to meet debt obligations and evaluate leverage. Th...

These lecture notes from Chapter 9 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge focus on the identification, measurement, and reporting of liabilities. The notes cover current liabilities such as accounts payable and accrued expenses, along with the calculation and interpretation of the accounts payable turnover ratio. They also explain notes payable and the importance of the time value of money, including present value calculations. The chapter explores contingent liabiliti...

These lecture notes from Chapter 8 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge cover the classification, measurement, and reporting of long-lived productive assets, including property, plant, and equipment (PP&E), intangible assets, and natural resources. The notes explain how to apply the cost principle, calculate depreciation using various methods, recognize asset impairments, and account for asset disposals. They also cover the amortization of intangible assets and the d...

These lecture notes from Chapter 7 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge explore how businesses report and manage inventory and cost of goods sold. The notes explain the cost principle, demonstrate how to apply four inventory costing methods (FIFO, weighted average, specific identification), and discuss the impact of each on financial statements. They cover how to report inventory at the lower of cost or net realizable value (LCNRV), methods for inventory control, and...

These lecture notes from Chapter 6 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge explore how businesses report and interpret sales revenue, receivables, and cash. The notes explain how credit card fees, sales returns, and discounts affect net sales, and how companies estimate and account for uncollectible accounts using the allowance method. Students learn to calculate and interpret the receivables turnover ratio and days sales outstanding to assess cash collection efficiency...

These lecture notes from Chapter 5 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge focus on the communication and analysis of accounting information. The notes outline the roles of key participants—such as managers, directors, auditors, regulators, and users—in the financial reporting process, as well as the legal and professional standards they follow. Students learn the steps of corporate communication through press releases, quarterly and annual reports, and regulatory f...

These lecture notes from Chapter 4 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge cover essential end-of-period procedures in the accounting cycle. The notes explain the purpose and types of adjusting entries used to align revenues and expenses with the accrual basis of accounting. Students learn how to prepare an income statement (including earnings per share), a statement of stockholders' equity, and a classified balance sheet. The lecture also introduces the total asset ...

These lecture notes from Chapter 3 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge explore how businesses measure and report operating activities. They explain the business operating cycle and the importance of the time period assumption, emphasizing accrual accounting principles such as revenue recognition and expense matching. Students learn to analyze and record transactions using journal entries and understand their impact on the accounting equation and income statement. Th...

These lecture notes from Chapter 1 of Financial Accounting (11th Edition) by Libby, Libby, and Hodge introduce key accounting concepts related to the balance sheet and business transactions. The notes explain foundational assumptions and principles, define common balance sheet accounts, and show how transactions are analyzed using the accounting equation: Assets = Liabilities + Stockholders’ Equity. Students learn to record transactions with journal entries and T-accounts, prepare a trial bala...

These are condensed lecture notes for the entire Financial Accounting 11e by Libby, Libby, and Hodge. They are very thorough and get to the point, focusing on definitions and formulas along with clarity and efficiency.