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The document provides links to download various editions of accounting textbooks, including 'Intermediate Accounting, 19th Edition' by Earl K. Stice. It emphasizes the importance of understanding accounting in the context of business strategy and current global standards. Additionally, it highlights the relevance of fair value accounting and earnings management in today's financial environment.

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Intermediate accounting 19th ed Edition Stice Digital
Instant Download
Author(s): Stice, Earl k.;Stice, James D
ISBN(s): 9781133957911, 1133957919
Edition: 19th ed
File Details: PDF, 46.33 MB
Year: 2014
Language: english
19e
Intermediate Accounting

James D. Stice, PhD

Brigham Young University
Earl K. Stice, PhD
Brigham Young University

Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States

Copyright 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
Intermediate Accounting, 19e © 2014, 2012 South-Western, Cengage Learning
James D. Stice, Earl K. Stice
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1 2 3 4 5 6 7 17 16 15 14 13

Currency + Context = Motivation

Motivation
From the smallest mom-and-pop retailer to the largest multinational corporation,
businesses of all sizes are recognizing that accounting professionals are no longer simply
“number crunchers” but, rather, essential partners in achieving the fundamental goals
of their organization. When people understand accounting’s critical role in managing a
business and making business decisions, they are motivated to learn accounting. That is
why Intermediate Accounting, 19e provides a powerful connection between accounting
and business today with:
• Business strategy cases at the start of each chapter that describe how a real-world firm
such as MicroStrategy struggled with revenue recognition and the pressures on man-
agement to interpret revenue as positively as possible.
• Coverage of high-interest and current topics such as earnings management, fair value,
and International Financial Reporting Standards (IFRS) as well as other issues that are
driving accounting in today’s business environment.
• FASB codification activities that link FASB research with real business situations and
help readers understand how to research and use authoritative guidance as well as
why that guidance is important.
• Real-world end-of-chapter case activities that use the financial results of companies
such as The Walt Disney Company, The Boston Celtics, Hewlett-Packard, and Dell to
help readers connect accounting to business.

CURRENCY—Current and Relevant Coverage

One look at the business pages of any newspaper shows how illusory long-term suc-
cess can be. Yesterday’s runaway successes can quickly find themselves derailed by the
new realities of today’s business world. This is the first text to provide a real-world
perspective that links accounting functions to the activities of business.

International Financial Reporting Standards topics, indicated by this symbol

throughout the text, help students understand how accounting practices differ from coun-
try to country and reflect the increasingly global nature of business.
The international environment of business is dramatically changing the landscape
of accounting. The Financial Accounting Standards Board (FASB) and the International
Accounting Standards Board (IASB) are working together to develop one set of accounting
standards to be used by companies in countries around the world. No longer is the United
States making the rules for the rest of the world to follow. Instead, the FASB and the IASB
are working hand-in-hand as financial accounting standards converge at a pace that was
not dreamed of even five years ago.

The international environment has greatly affected this textbook. Every chapter dis-
cusses relevant accounting standards and developments from both a U.S. and a global
perspective. Each chapter begins with a discussion of the accounting standards and proce-
dures used by companies complying with U.S. GAAP. Then those areas where U.S. GAAP
and international accounting standards are significantly different are discussed so that the
reader can understand how accounting standards around the world are similar and how
they are different. A chapter on Accounting in a Global Market further emphasizes the
role of International Financial Reporting Standards.
The objective of this approach is to develop in students the ability to see beyond the
borders of the United States and understand that the global business environment is lead-
ing to global accounting standards. Users of this text will understand that they are not just
learning U.S. GAAP. Instead, they are being prepared to be active participants in a global
accounting environment with the ability to understand and apply international accounting
standards as well as U.S. accounting standards.

Fair Value Accounting is another major topic affecting the accounting environment.
The credit crisis of 2008 is blamed by some on the inappropriate use of fair value account-
ing. A module details the why, when, where, and how for using fair values in financial
statements. Because this concept of fair value accounting is so important and affects so
many of the principles and topics discussed later in the text, it has been placed near the
front of the text following the discussion of the financial statements.
A Chapter on Earnings Management in Part 1 establishes a framework for the
remainder of the course. Students come to understand the importance and ramifications of
earnings management through current, real-world examples, extracts from SEC enforce-
ment actions, business press analysis, and the extensive use of academic research findings.

FASB Codification feature presents a relevant issue and related question in order to
assist students in understanding how to use the FASB’s codification in research. This fea-
ture is found in each chapter and includes a description of the issue at hand, a specific
question pertaining to that given issue, and suggestions for “Searching the Codification”
in order to guide students in the right direction for research. Each feature includes an
answer section at the end of the chapter, so that students can check their research and
adjust their technique as needed. References throughout the textbook reflect the FASB
ASC (Accounting Standards Codification).

The Issue: You are the accountant for a company in the carpet cleaning business.
Because of your company’s innovative cleaning system (no harsh detergents, no
damaging brushes, and extremely small carbon footprint), you have been very
successful and have begun to drive your competitors out of business. In fact,
just today your company’s CEO has decided to start buying a number of your
competitors. As you walked out the door at the end of the day, she said: “You had
better learn how to account for a bargain purchase.”
The Question: What is a bargain purchase, and why is a bargain purchase likely to
arise in this situation?
Searching the Codification: Bargain purchases are covered in this chapter, but you
would like to show your boss that you can find accounting standards for your-
self in the authoritative literature. The best place to start is in Topic 805 (Business
Combinations), which is in the “Broad Transactions” collection of topics.
The Answer: The authoritative accounting standards relative to bargain purchases
vi are described on page 10-41.

Up-to-Date Intermediate Accounting, 19e has been completely updated to reflect the
latest changes in accounting standards, practices, and techniques. The real company infor-
mation has been revised to account for recent changes in financial statements and other
company reports.

Exhibit 16-6 | ExxonMobil—Disclosure for Provision for Income Taxes

18. Income, Sales-Based and Other Taxes

2011 2010 2009
(Millions of dollars) U.S. Non-U.S. Total U.S. Non-U.S. Total U.S. Non-U.S. Total
Income taxes
Federal and non-U.S.
Current $ 1,547 $28,849 $ 30,396 $1,224 $21,093 $ 22,317 $ (838) $15,830 $14,992
Deferred—net 1,577 (1,417) 160 49 (1,191) (1,142) 650 (665) (15)
U.S. tax on non-U.S.
operations 15 — 15 46 — 46 32 — 32
Total federal and
non-U.S. 3,139 27,432 30,571 1,319 19,902 21,221 (156) 15,165 15,009
State 480 — 480 340 — 340 110 — 110
Total income taxes 3,619 27,432 31,051 1,659 19,902 21,561 (46) 15,165 15,119
Sales-based taxes 5,652 27,851 33,503 6,182 22,365 28,547 6,271 19,665 25,936
All other taxes and duties
Other taxes and duties 1,539 38,434 39,973 776 35,342 36,118 581 34,238 34,819
Included in production and
manufacturing expenses 1,342 1,425 2,767 1,001 1,237 2,238 699 1,318 2,017
Included in SG&A expenses 181 623 804 201 570 771 197 538 735
Total other taxes and duties 3,062 40,482 43,544 1,978 37,149 39,127 1,477 36,094 37,571
Total $12,333 $95,765 $108,098 $9,819 $79,416 $89,235 $7,702 $70,924 $78,626

ExxonMobil, 2011, 10K Report

CONTEXT—Business Activities Emphasized in Organization

No other text works harder to demonstrate accounting’s integral importance to an organi-
zation’s decision-making capabilities. This book is organized as much as possible around
the essential interrelationship between accounting procedures and the activities of business
to provide students with the context behind the accounting that is discussed. The innova-
tive structure is unsurpassed in preparing students to serve as trusted advisors on the front
lines of business.
In an effort to streamline the sequence of chapters in the text, the table of contents
accounts for a more traditional balance sheet order of topics while still maintaining the
structure of covering topics as they relate to business activities. The investing chapters fall
before the financing chapters, which results in a more familiar order of presentation for
instructors and students.

Part 1—Foundations of Financial Accounting provides students with the funda

mentals of financial accounting, including a full chapter on Earnings Management, and con-
cludes with a module that covers the Time Value of Money as well as a module on Fair Value.

vii

Part 2—Routine Activities of a Business gets down to business, integrating ac-

counting into management by exploring operating and investing activities.

Part 3—Additional Activities of a Business examines financing activities, leases,

income taxes, and employee compensation.

Part 4—Other Dimensions of Financial Reporting rounds out the comprehen-

sive coverage with earnings per share; derivatives, contingencies, business segments, and
interim reports; accounting changes; and financial statement analysis; as well as extended
coverage of IFRS, which is found in the separate chapter, Accounting in a Global Market.

Why and How Framework follows each learning objective, as the authors provide
additional reinforcement of the critical concepts by highlighting both the procedural as-
pects (the “how”) as well as the context (or “why”) for which they are applied. As they
move through the chapter, students gain a greater understanding of both elements and
can rationalize why businesses account for things the way they do. By exposing students
to the “why” behind each concept, students are being trained to realize the business im-
plications of various decisions made by companies and can take their careers head-on.
Supporting this framework are a number of critical-thinking elements that allow stu-
dents to stretch their minds into the analysis of the relevant topics, a skill that will also be
8-6 crucial as they
P2 | Routine move
Activities on in their studies and careers.
of a Business

WHY SAB 101 was released to curtail

specific abuses in revenue recognition
practices. The guiding principle behind
SAB 101 is that companies should not
SAB 101
be granted the flexibility to decide to 2 Discuss the revenue recognition issues, and abuses, underlying the examples used in SAB 101.
accelerate or delay the recognition
of revenue. Instead, the economic
characteristics of the transaction itself SAB 101 is a very interesting document. It is in a question-and-answer format. Most of the
should determine when the revenue is questions follow the pattern: “May a company recognize revenue in the following situation?”
to be recognized. The answers given in SAB 101 are invariably “No.” SAB 101 arose in response to specific
abuses seen by the SEC staff. As illustrated with the MicroStrategy scenario at the beginning of
HoW In order to report revenue the chapter, these abuses were often driven by the desire of high-flying companies to maintain
reliably, a company must have a system their aura of invincibility by continuing to report astronomical revenue growth each quarter.
of internal controls in place to govern Because SAB 101 was released to curtail specific abuses, it should not be seen as a
the timing of revenue recognition. In comprehensive treatise on the entire area of revenue recognition. Remember that the vast
a multiple-element transaction, the majority of companies apply the revenue recognition criteria in a very straightforward way
revenue associated with any specific with no questions from their auditor, the SEC, or investors. But it is precisely in the financial
component, or unit of accounting, can reporting of high-growth, start-up companies doing innovative transactions where reliable
be recognized only if that component and transparent accounting practices add greatest value. Thus, the revenue recognition
can be sold separately. Reporting the issues covered in SAB 101 may not be comprehensive, but they are extremely important.
entire value of a transaction as “revenue” The release by the SEC of SAB 101 caused quite a stir in the accounting community.
is inappropriate for a company that acts
SAB 101 deals with a fundamental accounting topic (revenue recognition), is blunt in its
only as a broker or agent.
provisions, and was released without the years of discussion and lobbying typically involved
in the release of an FASB statement. As a
result, SAB 101 was like a bomb going off.
Statement of Cash Flows “Revisited” in Chapter In the aftermath 21 provides of thiscoverage
bomb, the of FASB
the state-
has
ment of cash flows in the second semester of the course. The
undertaken book continues
a comprehensive review to provide
of the
a full chapter early in the text (Chapter 5) addressing
When the SEC releases accounting guidance, it is in response to an imme- topic of revenue the statement recognition, of cash flows and
as mentioned
integrates this
diate need to safeguard investors from what the SEC views as faulty, and financial statement throughout the text,
above. which
The results
discussion in the
below most compre-
presents a
perhaps deceptive, financialhensive reporting treatment
practices.ofInthis these important
cases, thesubject SEC available. sample of the practical revenue recognition
sometimes grows impatient with the long deliberative process that the FASB problems and abuses that caused the SEC
viii follows before releasing a standard. to release SAB 101. Through new revenue
recognition guidance, the FASB subsequently
Copyright 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, somehas addressed
third party content may be many of the
suppressed from the points
eBook of concern
and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
Preface |

Opening Scenario Questions are critical-thinking questions that follow the u pdated
real company chapter openers. Solutions are provided at the end of each chapter so stu-
dents can check their answers as they think about how they would approach accounting-
related issues that businesses face.

1. Why do you think the price-to-sales ratio (as opposed to the price-earnings ratio) is
often used in valuing the stocks of start-up technology companies, especially those
related to the Internet?

2. On Monday, March 20, 2000, MicroStrategy issued a press release stating that
revenues for the year 1999 were about $155 million, not $205 million as previously
announced. This represented a drop of 24% in reported revenue. Why did a drop of
just 24% in reported revenue result in a stock price drop of 62%? In other words,
why wasn’t the drop in stock price also 24%?

3. In early March 2000, MicroStrategy’s board of directors received word that the
company’s auditor was requesting a revenue restatement. The board was reluctant
to go forward with the restatement because of fears (justified, as it turns out) that
the restatement would hurt the company’s stock price. List and explain two or three
arguments that you, as a member of the board, could have made in support of the
restatement.

Answers to these questions can be found on pages 8-34–8-35.

Stop & Think multiple-choice questions

have been written by the authors to ac-
company the Stop & Think boxed features.
These critical-thinking boxes, found in every
It would seem that the physical capital maintenance concept would provide chapter, allow students to test their knowl-
the best theoretical measure of “well-offness.” However, use of the physical edge and then consult the answers found at
capital maintenance concept of measuring income involves many practical the end of the chapter.
difficulties. Identify ONE of those practical difficulties from the list below.
a) Difficulty in estimating depreciation lives
b) Difficulty in implementing internal control procedures
c) Difficulty in providing cash flow information
d) Difficulty in obtaining fair market values of assets and liabilities

FYI margin boxes often provide addi-

tional context to an important topic by
emphasizing additional points of interest.

Before 2002, all gains and losses resulting from the early extinguishment of
debt were reported as extraordinary. This classification was ended with the
release of pre-Codification SFAS No. 145 (now in FASB ASC paragraph 470-
50-45-1); these gains and losses are now considered ordinary, subject to the
normal criteria for extraordinary items.

Caution provide students with impor-

tant points to consider when thinking about
more complex concepts and topics.

The most common error when computing bad debt expense is to confuse
the two methods—percentage of sales and percentage of receivables. Re-
member that when you are using the percentage-of-sales method, bad debt
expense is computed and the balance in the allowance account is then de-
termined. When you are using the percentage-of-receivables method, the
balance in the allowance account is computed, and then the amount of bad
debt expense for the period is determined.

“Reverse Solvable“ Problems at the end of chapters, identified by an icon, ask stu-
dents to demonstrate mastery of relationships and accounting concepts by working with
incomplete information and completing the missing information before completing the
assignment.

Chapter Updates and Enhancements

Chapter 1
• Update on the standard-setting process
• New discussion of the revised Conceptual Framework
• Further explanation of the convergence of U.S. GAAP and IASB standards
• Extended coverage of U.S. GAAP and IFRS similarities and differences

Chapter 2
• New feature “Using the FASB’s Codification”

Chapter 3
• Updated and revised opening case on Coca-Cola
• New feature “Using the FASB’s Codification”
• Analysis of the proposed new balance sheet format

Chapter 4
• Updated exhibits
• New feature “Using the FASB’s Codification”
• Analysis of the proposed new income statement format

Chapter 5
• New feature “Using the FASB’s Codification”
• Revised FASB-IFRS-Codification Summary

Chapter 6
• Updated exhibits
• Revised to reflect economic and housing crises

Time Value of Money Module

• Revised end-of-chapter material to reflect recent updates

Fair Value Module

• New FASB ASC references

Chapter 7
• Updated chapter-opening vignette to reflect global economic crisis
• New FASB ASC references
• New feature “Using the FASB’s Codification”
• Updated exhibits

Chapter 8
• Revised Learning Objectives
• Updated and expanded discussion of the asset-and-liability approach to revenue
recognition that is currently being developed as a joint effort of the FASB and the
IASB
• New feature “Using the FASB’s Codification”
• Updated data and exhibits

Chapter 9
• New feature “Using the FASB’s Codification”
• Updated data and exhibits

Chapter 10
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• Updated data and exhibits

Chapter 11
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• New discussion of a qualitative assessment as part of goodwill impairment
• Updated data and exhibits

Chapter 12
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• Updated data and exhibits
• Updated discussion on the use of the fair value option for the reporting of financial
assets and liabilities

Chapter 13
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• Updated discussion of the reporting of comprehensive income
• Updated data and exhibits

Chapter 14
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• Updated data and exhibits
• Updated discussion on the classification of investment securities according to IFRS and
U.S. GAAP
• Updated discussion on the use of the fair value option with equity method securities

Chapter 15
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• Updated discussion of the possibility that a future standard may require capital lease
accounting for most leases
• Updated data and exhibits

Chapter 16
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• Expanded discussion of accounting for uncertain tax provisions

Chapter 17
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• New coverage of pension accounting under IFRS
• Updated information regarding GM and the effects of the company’s bankruptcy on
its pension and other post-retirement plans

xii

Chapter 18
• New chapter-opening vignette focusing on China’s position in the global economic
world
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”

Chapter 19
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• New discussion of an abandoned FASB proposal to increase loss contingency
disclosures

Chapter 20
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”
• Updated exhibits and data

Chapter 21
• New discussion of the FASB–IASB project on financial statement presentation
• Updated exhibits and data
• Updated references to FASB ASC throughout

Chapter 22
• Revised information on the IASB
• Updated key differences between U.S. GAAP and IFRS
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”

Chapter 23
• Updated illustration of the use of accounting data in equity valuation
• Updated references to FASB ASC throughout
• New feature “Using the FASB’s Codification”

Reinforce Student Understanding

Unmatched End-of-Chapter Material
Widely regarded as providing the most varied and expansive set of problem assignments
available, Intermediate Accounting, 19e continues to raise the bar to new heights. Only

xiii

Intermediate Accounting features such a diverse set of traditional exercises, problems, and
cases:
• 15–25 Questions per chapter to help assimilate chapter content
• More than 400 Practice Exercises written by the authors
• Discussion Cases for homework or class discussion
• Exercises to reinforce key concepts or applications
• Problems that integrate several concepts or techniques
• Sample CPA Exam Questions written to provide students with similar problems com-
monly found on the CPA exam

“Reverse Solvable” Problems at the end of chapters, identified by an icon, ask stu-
dents to demonstrate mastery of relationships and accounting concepts by working with
incomplete information to determine the data that is missing from the exercise, before
completing the assignment.

Case Materials have been designed to help accelerate the development of essential
7 - 66 E O C P2 | Routine Activities of a Business
skills in critical thinking, communication, research, and teamwork. Retention and ap-
plication of key concepts build as future accountants and business professionals take ad-
Case 7-73 vantage of a wide range
Writing Assignment (Foreignof loan
toolswrite-offs)
found in this innovative section. These cases satisfy the
skills-based curriculum
In July 1990, U.S. endorsed
federal regulators by the
ordered U.S.AICPA’s Coreoff
banks to write Competency Framework
20% of their $11.1 billion inand
loansthe
to
Brazil and also 20% ofof
recommendations their
the$2.9 billion in loans
Accounting to Argentina.
Education The action
Change significantly
Commission affected the loan loss
(AECC).
reserves, that is, Allowance for Bad Debts, of the banks. For example, Citicorp was ordered to write off loans
totaling $780 million, compared to Citicorp’s total loan loss reserve of $3.3 billion. However, it was reported
Deciphering Actual Financial Statements Cases enable students to analyze fi-
that “the action won’t automatically have any impact on bank earnings.” Prepare a short report answering
nancial data from
the following questions:recent annual reports from companies such as The Walt Disney Com-
pany, Coca-Cola, and the Boston Celtics.
1. Why won’t the ordered write-offs automatically impact bank earnings?
2. Might the ordered write-offs have an indirect impact on future bank earnings?
Ethical
3. What Dilemma Assignments
effect would you expect to see on help develop
bank stock the
prices in critical-thinking skills students will
response to this announcement?
need as they wrestle with the business world’s many “gray” issues.
Source: Robert Guenther, “Federal Regulators Order Banks to Take Write-Offs on Loans to Brazil, Argentina,”
The Wall Street Journal, July 12, 1990, p. A3.

Case 7-74 Ethical Dilemma

You recently graduated from college with your accounting degree. Your father’s best friend is the
director of the accounting department of a small manufacturing firm in the area, and you accepted a
position on his staff. After a month on the job, you have noticed several deficiencies in the cash controls
for the company. For example, the individual making the daily deposits at the bank is also in charge
of updating accounts receivable. You also notice that the petty cash fund is under general control of
everyone in the office (that means that no one person has ultimate responsibility) and that vouchers
are seldom completed when cash is removed from the fund. You bring your concerns to the attention
of your boss, your father’s friend, and he comments:

“I appreciate your concerns. I knew when we hired you that you were sharp, but you need to
understand that not everything is done by the book here. We trust our employees. If we were to enforce
rigid controls on cash, it would create a nontrusting work environment. We don’t want that. Sure, a little
money may turn up missing now and then, but it is a small price to pay. Now, don’t you worry about
it anymore.”

What do you do now? Would you be comfortable working in an environment where there is a lack of
control on cash? If a significant sum of money were to turn up missing and the control system was unable
to determine who was responsible, what would that do to the trusting work environment? And remember,
big sums of money never turned up missing until you came to work at the company.

Case 7-75 Cumulative Spreadsheet Analysis

This spreadsheet assignment is a continuation of those given in earlier chapters. If you completed those
assignments, you have a head start on this one. Refer to the instructions for preparing the revised financial
xiv statements for 2015 as given in part (1) of the Cumulative Spreadsheet Analysis assignment in Chapter 3.
1. Skywalker wishes to prepare a forecasted balance sheet, a forecasted income statement, and a fore-
casted statement of cash flows for 2016. Clearly state any additional assumptions that you make. Use
Copyright 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
the
Editorial review has deemed that any suppressed content does not financial
materially affectstatement
the overall learningnumbers for Learning
experience. Cengage 2015 reserves
as the basis
the right for the
to remove forecast,
additional along
content at any with the
time if subsequent following
rights restrictions requiredata:
it.
bookkeepers. Because these students are training to be accountants, they see no need to spend a great
deal of time studying these mechanics.
In one page, explain why accountants must have a thorough understanding of journal entries and
T-accounts, even though these tools are mostly the domain of bookkeepers.
Preface |
Case 2-52 Ethical Dilemma (The art of making adjusting entries)
Refer back to the section of the chapter entitled “Preparing Adjusting Entries.” Who determines how
The Cumulative
long buildings Spreadsheet
and furniture and equipment Analysis
are to last?Case builds the
Who determines upon theamount
dollar lessons of each
of accounts
receivableto
chapter that are students
give doubtful? the opportunity to demonstrate and reinforce their understand-
ing.Suppose
Found we wereend
at the to change our asset2–5,
of Chapters depreciation
7–20, on andthe23,
buildings and the furniture
each exercise requiresandstudents
equipment to
from 5% and 10% to 4% and 8%, respectively. What would be the effect on net income? Would it increase
create a spreadsheet that allows for numerous variables to be modified and their effects
or decrease? Likewise, suppose our estimate of the balance in Allowance for Bad Debts was reduced to
to be monitored.
$1,000. What would be Bythetheeffect
endon ofnettheincome?
course, students have constructed a spreadsheet that
enables
Is thethem to forecast
adjusting operating
entry process an exactcash flows
science whereforaccountants
five years in
canthe future,exactly
determine adjusthow
forecasts
well a
company
for has done
the most for a period?
reasonable Or is accounting
operating an art and
parameters, that requires
analyzesignificant
the impactjudgment on the part
of a variety of
of ac-
the accountant?
counting assumptions based on the reported numbers.
What are the dangers for the accountant when making an estimate in an area (like Bad Debts) where
significant judgment is required?

Case 2-53 Cumulative Spreadsheet Analysis

Beginning with Chapter 2, each chapter in this text will include a spreadsheet assignment based on the financial
information of a fictitious company named Skywalker Enterprises. The assignments start out simple—in this
chapter you are not asked to do much more than set up financial statement formats and input some numbers.
In succeeding chapters, the spreadsheets will get more complex so that by the end of the course you will have
constructed a spreadsheet that allows you to forecast operating cash flows for five years in the future, adjust your
forecast depending on the operating parameters that you think are most reasonable, and analyze the impact of
a variety of accounting assumptions on the reported numbers.
So, let’s get started with the first spreadsheet assignment.

CHE-STICE_19E-12-0707-002.indd 44
Bonus Content 1/8/13 2:19

Web-Based Chapter Enhancements

In response to instructor requests, subject-enhancing material from previous editions of the
text is available on the companion Web site. The result is a streamlined, easier-to-use text
that provides ample supplement material for important topics.

CHAPTER WEB MATERIAL

2 Illustration of Special Journals and Subsidiary Ledgers
5 Statement of Cash Flows—Indirect Method
7 Petty Cash Fund
8 Deposit Method: Franchising Industry
10 Complexities in Accounting for Capitalized Interest
13 Quasi-Reorganizations
Complexities in Accounting for Stock-Based Compensation
14 Changes in Classification Involving the Equity Method
15 Real Estate Leases
16 Intraperiod Tax Allocation
17 Details of Accounting for Postretirement Benefits Other Than Pensions
Detailed Pension Present Value Calculations
22 Foreign Currency
23 Impact of Changing Prices on Financial Statements

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Acknowledgments and Thanks

Relevant pronouncements of the Financial Accounting Standards Board and other
authoritative publications are paraphrased, quoted, discussed, and referenced throughout
the text. We are indebted to the American Accounting Association, the American Institute
of Certified Public Accountants, the Financial Accounting Standards Board, and the
Securities and Exchange Commission for material from their publications.

We’d like to thank the following reviewers for their comments and suggestions that helped
shape this latest edition:

Jim Anderson, St. Cloud Technical and Community College

Angela Andrews, Wayne State University
Florence Atiase, University of Texas at Austin
Al Case, Southern Oregon University
Kimberly D. Charland, Kansas State University
Douglas deVidal, University of Texas at Austin

xviii

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Other documents randomly have
different content
the Galle Face Hotel, with its cluster of slender-stemmed cocoa
palms leaning over the sea. Here, the long ocean breakers rolling in,
the turquoise waves melting into dazzling foam, seen through the
palm trees has an enchanting effect, both in the sunlight and the
moonlight. There was a young crescent at night—seen, as only seen
in the East, on its back—floating like a fairy boat, and casting a
mysterious light over the dark ocean, the waving palms overhead
and the sound of the breaking waves adding to the wonderful charm
of the scene.
Jin-rickshaws were in great request, but the supply seemed fully
equal to the demand, and the esplanade was always full of the
trotting boys drawing white clad Europeans in topis up and down the
terra-cotta coloured road. There was a wide, green strip extending
along the drive, and on the other side of the suburbs of Colombo
extended northwards, chiefly native houses, and bungalows of
European residents often enclosed in gardens and hidden in ample
foliage of trees.
UNDER THE PALMS AT THE GALLE FACE, CEYLON

The hotel was served by an army of Cingalese waiters who wore

their hair much like the southern Indians—long, like a woman’s, and
done up in a knot at the back, their peculiar distinction, however,
being a semicircular comb of tortoise-shell worn like a coronet on
the top of the head, but with the open points in front. Otherwise
their costume consisted of a close white skirt, and a neat white
jacket with green facings. Their feet were always bare, like the
Indian boys.

COMMON OBJECTS OF COLOMBO. (JIN-RICKSHAWUS BIPEDES)

There was a band at dinner, served in a vast white hall, and

after, on the terrace, when the guests would sit out among the
palms lighted up by jewels of electric light. The white breakers
foaming under the moon, the shadowy waving palms, the sky
flashing with sheet lightning, the brilliantly lighted hotel, and the
white figures flitting about “among the guests star-scattered on the
grass,” all contributed to a striking stage effect.

A CINGALESE WAITER

The hotel was certainly spacious and well appointed, having

large cool corridors and rooms to sit in—comparatively cool that is to
say, and without the gloom of so many of the Indian hotels. In the
matter of food, cookery, and the service too, it was a great
improvement on the Peninsula. There were electric fans everywhere
in motion, and we could always turn one on in our room—which was
normally an oven. The draft from these fans, however, are said to be
apt to give people chills, and some caution in their use in bedrooms
is necessary.
We visited our friends in their charming house—one of the older
style of Colombo dwellings, in a delightful garden where afternoon
tea was served on a pleasant lawn shaded by fine trees, among
which we recognised the forest flame, which with its wonderful
scarlet blossoms had struck us on the way to Darjeeling, though not
then in flower here.
Another day Mr Bois took us out for a drive in his motor all
around Colombo and its neighbourhood. We went through the town
and along by the dry dock, and through the native quarter (Zeppa or
Teppa) and away through narrow lanes shaded by cocoa palms,
plantains, banyans, mangoes and other trees growing with tropical
luxuriance each side the way, in plantations, and around the
bungalows.
The motor seemed a strange vehicle in the midst of the primitive
life of the Cingalese; and it is said that extremes meet, and certainly
a motor and a primitive ox-wagon represent about the greatest
contrast in means of locomotion and transport that one can well
imagine. It was rather wonderful that we escaped a collision
sometimes meeting such vehicles in the narrow lanes, or that we
avoided running over stray chickens or dogs—the latter kind always
resenting the motor and imperilling their lives by running and
barking in close proximity with the enemy. The natives we met
walking, too, were by no means alert in getting out of the way, and
did not seem to realise the danger.
IN CEYLON—EXTREMES MEET—THE MOTOR AND THE OX-CART

We passed mission houses and churches of all sorts, and of

every shade of theological colour—Wesleyans, Roman Catholics, and
Salvation Army—all the plagues of sectarian Christianity which afflict
humanity in Europe, alas!
Our friend said, à propos of some remarks of mine about the
ignorance and indifference of missionaries as to native religions and
their natural suitability to the races, and their habits of life and the
climates where they are found, that he had cautioned missionaries
against running down the native religion. This in Ceylon, is mainly
Buddhist (and Buddha surely discovered something analogous to
Christian ethics, if not superior, long before Christ). The Tamils are
Buddhists, but there are some Hindus and Mohammedans in Ceylon,
and even pure Buddhism is mingled in some curious way with a
primitive devil-worship.
We saw the golf links and a golf club house—quite à la Anglaise
—on a rising ground and bare of trees, for a wonder in Ceylon. It
appeared that these links occupied the site of a farm which did not
succeed. Then we saw the river, where an engineer’s iron bridge had
taken the place of a former bridge of boats. Colombo must have
largely lost its primitive and Dutch character when the old Fort was
destroyed. This has been replaced by terribly ugly Barrack buildings,
and the town is rapidly becoming a modern commercial centre, big
warehouses and universal provider’s stores are rising up after the
European or American type. The native character, however,
manifests itself still, peeping out here and there, especially in the
older shops, and there is more native costume to be seen than one
had imagined. The country ox-cart is a striking object with its huge
tilt of matting projecting forward and backward like a hood, the
single zebu by which it is usually drawn appearing small for the size
of the vehicle.
We did not see many native women about, but those we did see
wore the native dress, consisting of a white bodice, cut round and
rather low in the neck, with a lace edging; a necklace and earrings,
and the narrow skirt wrapped about the lower half of the figure to
the feet generally printed with a pattern, or chequered, similar to
that worn by the men.
We drove round by the Cinnamon gardens, and rested at a club
house—a mixed European Club—a pleasant house with a large and
well-kept croquet lawn in front where ladies were playing. We sat a
while, after being refreshed and making some new acquaintances,
we returned in the motor to our hotel.
We had thunder and lightning at night. The lightning flashing
almost incessantly all over the heavens, but mostly from great
clouds rolling up from the north and east.
While sitting at tea in the hall of the Galle Face one afternoon we
met an old friend in the person of Mr Cyril Holman Hunt, the son of
the famous pre-Raphaelite painter, who had been a planter for some
years, first in Ceylon and afterwards in the Straits, from which he
had just arrived. So that it was quite a chance our meeting, as he
was not even staying at the same hotel.
The same evening the officers of the Italian warship Marco Polo
were entertained at dinner at the Galle Face, and their band played
selections afterwards.
The scene in the hall of a Colombo hotel is always busy, but in a
different way to a European hostelry—one might almost say it was
feverish haste in the midst of languid indolence—a ballet of
energetic action before a crowd of unconcerned spectators. While
some are in the fuss of departure or arrival, rows of enervated
travellers lounge in wicker chairs, reading, chatting, smoking, or
engaged with tea or cooling drinks, mostly attired in white; many of
the ladies in delicate summer dresses, the men in white drill or
tussore suits. All nationalities are represented, the majority
American, and mostly people waiting for their steamers outward or
homeward.
Most visitors to Ceylon make a trip to Kandy, and one morning
early saw us on our way thither. The railway carriages are good and
comfortable, but they do not allow the stacking of hand luggage in
them as they do to such an extent on the Indian railways. The train
passed through a very rich and fruitful-looking country, where the
paddy crops in different stages—under water, green and ripe or
being reaped and thrashed—reminded us of India. The fields were
generally surrounded by groves of plantains and palms.
The vegetation being most luxuriant everywhere: banyans,
mangoes, and flowering trees of different kinds including spireas and
the “forest flame” we saw at Darjeeling; tangled masses of creepers
hanging from the boughs, and often covering the whole tree. Several
rivers were crossed the red earth showing on their banks, and the
water generally tinged with the same.
We reached Kandy about 11.15, the train ascending to this place
about 4400 feet. The line curving up the slopes so that we could
frequently see the engine and forepart of the train rounding the loop
in front of us. We could only secure a room for one night at the hotel
(the Queen’s), so that we had to make the most of our time.
Accordingly, after tiffin, we started in a carriage for what the hotel
people prosaically called “No. 2. drive” (!).
Skirting the large tank or lake in front of the hotel, which has a
solid stone palisading around it cut into points and pierced, we
ascended a steep road, winding up the hills through lovely
woodlands, at every turn presenting fine mountainous and
panoramic views of the country. Beautiful clusters of bamboo of
enormous size occurred frequently, the stems very thick and of an
oxidized bronze colour, varying from dark to light. Another kind had
bright golden coloured stems, and a lighter, more feathery foliage.
Cocoa palms, plantains, and mangoes were abundant, also
cinnamon plants. A native boy offered us a cocoa bean pod, and a
spray of cinnamon—a pretty tree with a tassel-like flower. There
were also large trees bearing massive pendulous fruits, which grow
directly out of the trunk suspended on very short stalks in clusters of
two and three. This fruit was called “Jack fruit.” It looked like a sort
of gigantic walnut, and was covered with a soft green velvety kind of
rind. The leaves of this tree was small and poplar-like in shape. The
brilliant scarlet lily-like bloom of a dark leaved shrub was often seen,
the flower having long stamens hanging out like a tassel.
The various drives which had been made over the hills and
through these great woods were apparently named after different
governors’ wives. There was Lady Longden’s drive, Lady Macarthy’s,
Lady Horton’s, and so on. We sometimes had the impression, as the
carriage followed the gravelled curves of these drives, that we were
approaching some country seat among the hills. The drives, though
well planned for points of view, and well kept, were, perhaps, a little
too suggestive of the landscape gardener, a little too conscious and
laid out to order, to be thoroughly enjoyable. We should have
preferred to see the untouched work of the original designer of
Ceylon scenery. The natural wild country unanglicised—though I
know I should be told that without such roads and clearings one
would not be able to see the country at all.
We British, somehow, always seem to carry suburban ideas with
us everywhere, and English trimness and neatness even out into the
tropical wilderness. We passed neat homes surrounded by smooth
tennis and croquet lawns, as if bits of Chiselhurst or Surbiton had
been suddenly dumped down in the midst of all this wonderful world
of luxuriant growth and unfamiliar trees, and close to native huts of
the most primitive kind.
The native roof here, as at Darjeeling, appeared to be either
thatch or wooden shingles, and here, again, we were sorry to see
corrugated iron creep into use everywhere.
The most primæval sight we had was perhaps that of the
elephants bathing in the river. This was at a spot close to a native
village, where we left our carriage and, walking through a grove,
came out on the river shore where five or six black elephants—one a
large one with fine tusks—were disporting themselves in the water,
in charge of native attendants, rolling over on their sides and
squirting the water over themselves by means of their trunks with
the greatest enjoyment. The water was rather thick and reddish in
colour from the clay of the banks.
On the way back to the hotel we passed the famous Buddhist
Temple of the Tooth with its pagoda-like roof, but it looks but an
insignificant building to be the centre of Buddhistic reverence and
tribute.
This was a lovely moonlight night, and the walk by the lake
would have been perfect but for the touts and vendors of all sorts of
things that you do not want.
We left Kandy the next morning for Nuwara-Eliya; our travelling
companions were two Germans from Berlin, father and son. The
train continued to climb, the line curving more sharply than before.
We saw some fine mountain distances and Adam’s Peak rising up
afar, and soon entered a vast tea-planted district, the tea plants
often bordering the railway line, and covering the slopes of the hills
which seemed covered with a more or less regular green pattern,
the dark velvety green of the tea plants intersected by the light
feathery foliage of young rubber-trees, planted in regular rows at
intervals in some places. The landscape was very clear and every
detail sharply defined in the bright sunlight, with very little
suggestion of atmosphere, except for the mountain distances which
were deep blue.
TEA PLANTATION, CEYLON

“She liked coffee, and I liked tea,

And that is the reason we always agree!”

In the afternoon about four or five o’clock we reached Nunnoya

station, where we had to change into a narrow-gauge train to finish
the last part of the journey to Nuwara-Eliya. We continued to climb
in shorter and more loop-like curves, being able often to gaze down
on the line we had just traversed winding below like a glittering
serpent among the wooded hills and tea plantations. Tea
everywhere, and not a drop to drink—yet suggesting potentially
more than the whole world could consume.
Something after five found us at Nuwara-Eliya where we got into
a wagonette, and a good pair of greys brought us through the
village to the St Andrews Hotel, a very pleasant homelike place in a
nice garden and backed by beautiful woods. The original house
looked as if it might have been a private residence, and there was
just a touch of Rydal Mount about it and its situation, at the first
glance, but a new wing had been added with a tin-roof, and there
was a golf course in the valley just below.
The valley is very beautiful, with its richly wooded hills and a
lake with blue mountainous distance. Delicate feathery, aspen-like
trees wave in the soft air, and there are numbers of firs and
cypresses which give an Italian touch to the landscape, but no
palms. In fact, the whole character of the country is totally different
from Colombo and Kandy. The climate, too, is much cooler, the
thermometer falling to 40 degrees at night, or even to frost, though
the sun is hot enough in the middle of the day.
There is a native bazaar, and an English quarter with a red club
house, tennis courts, and a race-course—of course. St Andrews,
however, where we were quartered, was quite away by itself, and
was altogether perhaps the pleasantest place we had stayed at
either in India or Ceylon. It was possible, for one thing, to walk out
without being worried by guides and touts, or to buy things. The
climate was delightful after the enervating heat of Colombo, and
there being hardly any other guests the quiet of the place was a
great relief and very restful.
One afternoon we had a walk up the opposite hills, the track
being mostly through tea-plantations, with forest bits occasionally.
The tea tree left to itself apparently grows high on a stem, having a
very striking character and shape, suggesting almost the stone-pine.
The small, thick-stemmed, closely-trimmed, flat-headed dwarf
bushes which are its characteristic forms in the tea plantations also
have an interesting effect in some situations on the hill-sides,
intersected by wandering paths whereon the dark natives move up
and down. The tea-plant has a leaf somewhat of the character of a
laurel or orange tree, and its flower recalls that of the orange.
Ceylon tea when made is of a beautiful clear orange colour—I mean
when poured from the pot.
The Hagdalla gardens, founded by the government in 1861, well
repay a visit, and are deeply interesting to anyone interested in the
flora of Ceylon. It is a drive of about six miles; passing through the
native village, and by the English Club and race-course, the lake is
skirted, and after that the road takes the character rather of a
mountain pass, and runs along the edge of a deep wooded ravine
down which a rocky stream tumbles into falls over boulders. There
was just a touch of a sort of Borrowdale, translated into Cingalee,
about this part of the drive. The wild forest which clad the hills each
side of the valley was very different in character and colour to
anything seen in Europe, the trees showed the most lovely tints of
varied bronze, from pale green to copper red. The tea tree was
abundant, and the rhododendron, which here is totally different in
character and general shape to the cultivated shrub-like bushes in
English gardens. Here it is a thick-stemmed tree, with a rugged bark,
and a bold irregular outline with rather sparse leavage and deep
crimson flowers which glow splendidly among the dark metallic
green of the leaves. There is a sort of formal grotesqueness about
the tree, too, which is rather Chinese.
On the way through the ravine, at a solitary spot below the road,
we saw a Buddhist shrine. On a little platform surrounded by a
rough fence of loose stones, and facing the road, was a row of
carved images, in some dark wood, standing figures of Buddha. In
front of this rude structure we saw a native worshipper prostrating
himself on the edge of the road, and bowing and bending towards
the shrine.
The Magdalla gardens are botanic and horticultural gardens laid
out with great care and skill on the slope of a mountain. They
apparently contain all the varieties of trees and plants indigenous to
Ceylon. Tree ferns are there in abundance, flowering trees of many
kinds, and parasitic plants, and orchids in great variety, growing in
their natural manner. As one threads the narrow wandering paths it
is as if one passed through a thick jungle or tropical forest, only that
the walking is made easy, and botanical labels here and there, and
signs of gardener’s care and labour, remind one it is a garden.
There is a keeper’s lodge, in this Cingalese paradise, covered
with creepers, and a formal level parterre in front, one mass of
brilliant floral colour—African marigolds, fuchsias, poppies, blue
centred daisies, sunflowers, blue convolvulus, Amaryllis, and white
eucharis lilies, canaryensis, polyanthus and many more; some that
might be found in English gardens and hot-houses, with other
tropical wonders only seen at Kew.
After a ramble here we returned to the carriage, and drove back
through the now burning sun.
Gorse grows about the links and open common-like ground in
the valley at Nuwara-Eliya, though the bushes seem to grow rather
taller and straighter than they do in England. Instead of our lords
and ladies, arum lilies grow wild. Great clusters of them may be seen
by the sides of streams or in marshy places. The woods were
delightful to wander in, and altogether Nuwara-Eliya might make
good claims to be an earthly paradise, other things being equal.
We had taken our passage, however, from Colombo, and were
due to sail for home on the 2nd of March. It was now the 28th of
February, and we had to make our way back again, descending from
Il Paradiso to a certainly hotter region. The descent by the narrow
gauge railway was even more striking than the ascent, the train
passing through luxuriant growths of forest in which tree-ferns,
rhododendrons, the tea tree, and what looked like a sort of box tree
were abundant.
The rubber-trade in Ceylon is now being added to the tree-trade,
which, according to our competitive wasteful individualistic system,
has somewhat outgrown its profitable market. One effect of this new
development upon the landscape is devastation, as large tracts of
wild forest on the mountain sides are being cleared by burning the
natural growth in the first place, and then removing the stones and
boulders which cumber the ground. This process does not add to the
beauty of the scenery, nor can we expect that monotonous
plantations will be good substitutes to the eye for the wild beauty
and varied and luxuriant vegetation they displace.
The Englishman in Ceylon seems to think of nothing but profit-
making, however, like many of his race elsewhere; and is probably
often even unaware of the beauty he destroys for commercial
reasons, and he is always able to import cheap coolie labour from
India to carry out his schemes.
The Cingalese native it seems is unwilling to work, or probably
has not the physique for heavy field labour, so he prefers to live the
natural life of his country so far as he is allowed by his new masters,
and of course is denounced as a lazy dog.
Ceylon, indeed, one cannot help reflecting must have been a
delightful paradise, if somewhat warm in parts, for its own people,
before they were interfered with by western civilisation, with its
pushful commerce, and missions, bringing in their train poverty and
disease, and the struggle for existence, in a land naturally fruitful
and bountiful, and able to support its inhabitants without any special
efforts on their part.
TEA AND RUBBER IN CEYLON—A RISING INDUSTRY

The planters are now clamouring for railway extension. In an

interview which the Editor of The Ceylon Times sought with me I
gathered that there was considerable discontent with the Home
Government, who, he asserted, had derived greatly increased
revenues from the extension of rubber planting and the new
development of the industry, but who would not grant money for the
desired extensions, the advice given by the present secretary for the
colonies being to the effect that the Ceylon people should save their
money, or “put by for a rainy day.”
Of course the Editor’s point of view was that of the capitalist,
and that the more the country was opened up the better, and he did
not care to consider the effects of the ultimate outcome of the
monopoly which absorbs the results of and succeeds commercial
competition.
He spoke, however, incidentally of the increase of poverty—
poverty in such a land!—and that there was no poor law yet. He said
the Cingalese would not work, and had even neglected the irrigation
machinery which had been set up by the planters for their benefit, in
obedience to the requirements of the home government.
This would seem to show the difficulty of introducing ostensible
benefits in a primitive country which has not reached the necessary
stage of development to be able to take advantage of, or really to
utilise, modern methods. From the point of view of the simple native
no doubt there does not appear to be any reason why he should
change the habits and customs of his race simply for the benefit of
foreign settlers whose chief object is to exploit him.
Changing trains at Nunnoya we were again greatly impressed by
the splendour of the scenery traversed. For a great part of the
distance towards Kandy and Colombo, the line passes through a
mountainous district, at a high altitude, gradually descending, the
line following the contours of the hill-sides for the most part, though
tunnelled occasionally. One looks across a wide valley with distant
mountain ranges, ridge beyond ridge, in marked and emphatic
outlines, and occasionally abrupt precipices—the sharp conical
summit of Adam’s Peak conspicuous among them. The hill-sides are
largely covered with tea-plantations, but the railway also passes
through wild bush and forest, and high above one may see great
towering crags of limestone and gritstone. Mountain streams are
frequently crossed, and these break into cascades and falls among
tumbled black rocks; great boulders frequently strew the mountain
slopes as if tumbled by Titans among the foliage. There is
occasionally a suggestion of Derbyshire scenery here and there, but
on a grander scale.
After Kandy the line descends still more till we reach the palm
groves again, the river, and the lakes, and the heat of Colombo
again. This time on returning we put up at the G.O.H., which is
conveniently near the pier or departure stage for the steamers.
Here we met Mr Cyril Holman Hunt again, and were introduced
to several of his planter friends, who were very agreeable. There is a
delightful garden of palms and tropical plants here, which is a
pleasant resort in the cool of the evenings. With Mr Hunt we visited
the Colombo Museum, which was courteously opened specially for
us, it not being a public day. Here in a glass case and alive some
extraordinary leaf-insects arrested our attention. They were feeding
on green leaves, which they exactly resembled in colour, form, and
texture, so that it would be most difficult to tell which was leaf and
which was insect without closely watching them. The young ones
were like the red shoots of a plant, but the mature insects were
quite green and quite flat like a leaf while showing the ribs and
veinings. One could hardly have believed that nature, deceptive and
imitative as she is, could have been capable of such a trick. I
remember that a native at Kandy had shown me one of the green
leaf insects in a box, but I thought it was an artificial thing, which
indeed it looks.
On the staircase were some copies of exceedingly interesting
ancient Cingalese fresco-paintings from caves, resembling ancient
Indian work in style, but in some instances showing a certain
freedom in handling, the brush outline recalling later Greek vase-
painting.
There were excellent collections of native Cingalese decorative
art in jewellery, silver work, and ivory-carving, of which latter craft
some combs were the most delicate and interesting. There were also
block-printed stuffs similar to the Indian hand-printed cottons.
Among the jewellery, the necklaces of garnets and other stones set
in filagree gold were characteristic. There were models of native
boats of which there are several interesting varieties, and these were
exceptionally good life-sized models of types of the aboriginal
inhabitants (the Veddas)—the wild bush-tribes of Ceylon.
The natural history department was very complete, and the
whole museum judiciously comprehended the history, natural and
archæological, of the island, and included some highly interesting
Greco-Buddhistic sculptured remains, not so fine in style as those we
had seen at Sarnath, but there was the same type of standing figure
in drapery expressing the lines of the figure, and also portions of an
“umbrella,” showing a similar arrangement to the one at Sarnath,
with the lotus flower centre, and the series of concentric rings of
ornament containing the images of the lion, the horse, the ox, and
the elephant in sunk relief. There was also a zoological collection
attached to the museum in sheds and aviaries outside the main
building—live animals and birds, including leopards, jackals,
monkeys, flamingoes, pelicans, and a collection of small birds,
minas, doves, etc.
The time, however, for our departure from Colombo drew near.
Our steamer the Tourane of the Messageries Maritime line arrived
punctually on March the 2nd, calling at Colombo on her homeward
voyage from China, and the same evening saw us aboard.
We made our adieus, and our steamer cast off, or rather
weighed anchor, about sunset, and we were soon under way. The
dinner-bell rang at 6.30, and going on deck afterwards we saw the
last of Colombo—a mere thread of glittering beads of light on the
horizon, and soon lost in the darkness of night.
There was a large proportion of French people among the
passengers, and they were chiefly officials and their families
returning on leave from Chinese stations. They were exceedingly gay
and lively, and always had plenty of conversation. It was like a
continual comedy going on with much variety of character.
On the 7th day, after a voyage of undisturbed serenity over the
Indian ocean, the blueness of the sea varied only by the steamer’s
track, and the foam dancing into rainbows, with flying fish, or an
occasional turtle, or an albatross or two, which flapped heavily after
us, we sighted Aden, and rounded the striking rocky coast to cast
anchor off the port. Here the tugs brought up the coal lighters, and
the cargo boats, and the swarm of Soumalis, as before, and the
usual bazaar on deck took place, and the hauling of the coal and
cargo went on all through the night—the clamours of the coolies
being occasionally fiendish, and the din was often punctuated by
bangs on an iron bar, which sent a shiver through the ship. This was
the method of giving warning to the man engaged in the loading
operations in the hold. We afterwards learned that two poor coolies
had lost their lives by venturing into the hold before it had been
ventilated, and the air was so foul as to suffocate them, and a ship’s
officer who went to their rescue also became insensible for a time. It
seemed much hotter, too, now the ship was stationary.
Artillery practice was going on from the fort the next morning,
and we could see the shots strike the water. We did not get clear of
Aden till about 10 A.M., but at last the swarm of boats and swarthy
Soumalis left us, and the Tourane entered on her course through the
Red Sea, and in due time passed Mocha (to starboard) and Perim (to
port) and the Arabian coast, the sea churned into foam by the
steamer flashed with phosphorescence at night,—the effect in the
wake of the vessel being very beautiful, green sparks appearing and
floating on the surface, and globes of subdued light glowed under
the fleeting foam, rapidly swept along and lost in the darkness of the
night lit only by stars—among which the Great Bear showed how
much we had altered our latitude.
The heat continued very great for three days after leaving Aden,
when it rather suddenly grew cooler, and by the time we passed “the
Brothers” towards evening on the 12th of March, the weather grew
quite grey and cloudy with a cold wind.
We reached Suez early on the morning of the 13th, and here it
was fine and bright again, though the air felt thin and cool. The
colour of the water had changed, too, and was now a fine clear
turquoise—precisely the colour of the Egyptian glass bracelets, but
dark blue on the horizon and against the land, which looked pink.
The drama of the official tug and the cargo boats was again
performed, and there was much hoisting of coffee-bags, in and out,
and a taking of fresh provisions on board. The Traders came aboard,
too, with Fez caps, bead and shell necklaces, post-cards, and other
trifles. It was amusing to see our French friends buying the Fez
freely, and not only wearing them themselves but putting them on
the heads of their children. There had already been some
astonishing transformations in costume on board since the cooler
weather set in, topis and white drill being exchanged for tweed suits
and caps or felt hats, and, in some cases, smart official uniforms
with shakos.
We left Suez about the middle of the day and entered the canal,
the water still such a brilliant turquoise colour that the reflection in
the strong sunlight caused the white breasts of the sea-gulls, which
now followed our ship, to appear green.
A FEW TRIFLES THE WIFE WISHED TO BRING HOME FROM INDIA

We made some very agreeable acquaintances on board, which

made the time pass more quickly, and we arrived at Port Said early
on Friday the 14th of March. The coaling this time was a
comparatively clean process, the wind not being ahead as before.
Some few of the passengers got off for Egypt here, but we were
soon under way again; and M. de Lèsseps’ large effigy, the green
dome of the Custom House, the steamers, the wharves, and the
posters of Port Said soon all faded from view as we bade farewell to
the East and entered the Mediterranean on our way to Marseilles,
the last stage of our long voyage, where after some tossing we had
a passing vision of snow-capped Sicily, and the Lipari Islands, with
Stromboli still smoking away; and so, in due course, through the
straits of Bonifazio, with no further sea troubles, landed at Marseilles
on March 19, safe and sound.
INDEX

Abu, Mount, 62
Adam’s Peak, 302, 311
Aden, outward and homeward call at, 12–15, 314
Adinath, Jain, pontiff, 131
Adyar Library, 247
Afghanistan, Amir of, preparations for reception of—
At Agra, 113–114, 122;
at Gwalior, 135–136
Aga Khan, 29
Agra—
Journey to, from Jaipur, 112;
arrival—the hotel, 112–113;
Pearl mosque, 113;
drive to the Fort—Akbar’s great gate, 113–114;
the Taj Mahal, 114–118—
its garden, 118–119;
the Jama Musjid mosque, 119–120, 123;
drive to the mausoleum of Itmad-ud-Daulat, 120;
churches, 121;
bazaars, 122;
excursion to Sikandra—tomb of Akbar, 122–125;
otherwise mentioned, 97, 144, 145
Ahmed Khan, 50, 51, 151
Ahmedabad—
Journey to, from Bombay, 48–49;
drive through the city, 49 et seq.;
mosques, 49–53;
cotton factories, 55;
bazaar and street life, 55–58;
native pottery, 58;
railway station, 62
Ajmir—
Journey to, from Ahmedabad, 62–63;
Akbar Fort, 64–65;
bazaars, 65–66, 70;
the Dargah, 66–68;
fort of Targarh, 67;
mosque of Arhai-din-ka-Jhonpra, 68;
Daulat Bagh, 68–69;
cantonments outside the native city, 69–70;
custom of nailing horse-shoes on the doors, 80
Akbar, Emperor, 64, 131, 155, 177;
tomb of, at Sikandra, 156
Alviella, Count Goblet d’, 41
Alcott, Colonel, 212, 247, 249
Alexandra, Queen, 13, 261
Altamash, 68
Altamsh, 157
Alu-ud-din, 80
Amber, deserted city and palace, 106–7
American tourists, 76, 84, 96–97, 134
Ammayanayakanur, 276
Amritzar—
Journey to, from Delhi, 161–162;
hotel touts, 162–163;
the hotel, 163–164;
drive through the—its open drains, 164;
the Golden Temple, 165–166;
carpet manufactory, 166–167;
interview with a native pedlar, 167–169;
the Atal tower, 169;
public gardens, 169;
departure for Lahore, 170
Anderson, Colonel, 185
Arab dhow, 15
Arabian coast, 12, 314
Arhai-din-ka-Jhonpra, mosque of, 68
Arjamand Bann, 117
Arnold, Sir Edwin, 118

Baker, Sir Samuel, 33

Bandakin, 112
Bapatia, 245
Bareilly, 45
Barielly, 184
Bearer, native, engagement of, 30–33
Bedding, need for travellers to supply their own, 35, 77
Begara, 59, 60
Benares—
Arrival at—Clark’s Hotel, 200, 216–217;
first impressions, 201;
the Guest house, 201–202, 205–206;
expedition to see the Buddhist remains at Sarnath, 201–205;
viewing the Ghats from the Maharajah’s peacock boat, 206–
211;
the Burning Ghat, 209–210;
the Manikaranika Ghat and the Nepal Temple, 215–216;
pilgrims, 210;
the Golden Temple, 211;
Hindu College, 212;
the Monkey Temple, 212;
visit to the Maharajah in his palace, 213–215;
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Acknowledgments and Thanks

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