intermediate accountingfifteenth edition ch01.docx
- 文档编号:10951555
- 上传时间:2023-02-23
- 格式:DOCX
- 页数:42
- 大小:44.37KB
intermediate accountingfifteenth edition ch01.docx
《intermediate accountingfifteenth edition ch01.docx》由会员分享,可在线阅读,更多相关《intermediate accountingfifteenth edition ch01.docx(42页珍藏版)》请在冰豆网上搜索。
intermediateaccountingfifteentheditionch01
CHAPTER1
FinancialAccountingandAccountingStandards
ASSIGNMENTCLASSIFICATIONTABLE(ByTopic)
Topics
Questions
Cases
1.
Subjectmatterofaccounting.
1
4
2.
Environmentofaccounting.
2,3,28
6,7
3.
Roleofprinciples,objectives,standards,andaccountingtheory.
4,5,6,7
1,2,3,5
4.
HistoricaldevelopmentofGAAP.
8,9,10,11
8
5.
Authoritativepronouncementsandrule-makingbodies.
12,13,14,15,
16,17,18,19,
20,21
3,9,11,12,14
6.
Roleofpressuregroups.
22,23,24,25,
26,27
10,16,17
7.
Ethicalissues.
29
13,15
ASSIGNMENTCLASSIFICATIONTABLE(ByLearningObjective)
LearningObjectives
Questions
Cases
1.
Identifythemajorfinancialstatementsandothermeansoffinancialreporting.
1,2
CA1-4,CA1-5
2.
Explainhowaccountingassistsintheefficientuseofscarceresources.
3,5
3.
Identifytheobjectiveoffinancialreporting.
4,7
CA1-2,CA1-3,CA1-4,CA1-5,CA1-6
4.
Explaintheneedforaccountingstandards.
6
CA1-3,CA1-7,CA1-9
5.
Identifythemajorpolicy-settingbodiesandtheirroleinthestandard-settingprocess.
8,9,10,11,13,14,15,16,19
CA1-1,CA1-2,CA1-3,CA1-7,CA1-8,CA1-9,CA1-11,CA1-14
6.
Explainthemeaningofgenerallyacceptedaccountingprinciples(GAAP)andtheroleofthecodificationforGAAP.
12,14,18,19,20,21
CA1-2,CA1-3,CA1-7,CA1-8,CA1-12
7.
Describetheimpactofusergroupsontherule-makingprocess.
17,22,23,24,25,26,27
CA1-10,CA1-11,CA1-13,CA1-16,CA1-17
8.
Describesomeofthechallengesfacingfinancialreporting.
28
9.
Understandissuesrelatedtoethicsandfinancialaccounting.
16,17,29
CA1-6,CA1-13,CA1-15
ASSIGNMENTCHARACTERISTICSTABLE
Item
Description
LevelofDifficulty
Time
(minutes)
CA1-1
FASBandstandard-setting.
Simple
15–20
CA1-2
GAAPandstandard-setting.
Simple
15–20
CA1-3
Financialreportingandaccountingstandards.
Simple
15–20
CA1-4
Financialaccounting.
Simple
15–20
CA1-5
Objectiveoffinancialreporting.
Moderate
20–25
CA1-6
Accountingnumbersandtheenvironment.
Simple
10–15
CA1-7
NeedforGAAP.
Simple
15–20
CA1-8
AICPA’sroleinrule-making.
Simple
20–25
CA1-9
FASBroleinrule-making.
Simple
20–25
CA1-10
PoliticalizationofGAAP.
Complex
30–40
CA1-11
ModelsforsettingGAAP.
Simple
15–20
CA1-12
GAAPterminology.
Moderate
30–40
CA1-13
Rule-makingIssues.
Complex
20–25
CA1-14
SecuritiesandExchangeCommission.
Moderate
30–40
CA1-15
Financialreportingpressures.
Moderate
25–35
CA1-16
Economicconsequences.
Moderate
25–35
CA1-17
GAAPandeconomicconsequences.
Moderate
25–35
SOLUTIONSTOCODIFICATIONEXERCISES
CE1-1
TheinformationatthislinkdescribestheelementsofferedinTheFASBAccountingStandardsCodification.Asindicated,thewebsiteoffersseveralresourcestoenhanceyourworkingknowledgeoftheCodificationandtheCodificationResearchSystem.ThispageincludeslinkstohelppageswhichdescribespecificfunctionsandfeaturesoftheCodification.Linkstofrequentlyaskedquestions,theFASBLearningGuide,andtheNoticetoConstituentsarealsoavailableonthispage.
Helppages
FAQ
LearningGuide
AbouttheCodification—NoticeofConstituents
CE1-2
ThefollowinginformationisprovidedattheProvidingFeedbacklink:
TheCodificationincludesafeaturewhichcanbeusedtosubmitcontent-relatedfeedbackorgeneral,system-relatedcomments.ThefeedbacksystemisnotdesignedforcommentsonproposedAccountingStandardsUpdates.
Content-relatedfeedback
AsaregistereduseroftheFASBAccountingStandardsCodificationResearchSystemwebsite,youareableandareencouragedtoprovidefeedback,attheparagraphlevel,totheFASBaboutanycontent-relatedmatters.ForspecificinformationabouttheCodificationandthefeedbackprocess,pleasereadtheNoticetoConstituents.
Toprovidecontent-relatedfeedback:
ClicktheSubmitfeedbackbuttonbeneaththeparagraphforwhichyouwanttoprovidefeedback.Enterorcopy/pasteyourcommentsinthetextbox.Notethatformatting(lists,bold,etc.)isnotretainedandthereisa4,000characterlimitonfeedbacksubmissions.
ClickSUBMIT.YourcommentsaresenttotheFASBandreviewedbyFASBstaff.Youcanalsosubmitmultiplecommentsforanygivenparagraph,if,forexample,youdeterminethatmoreinformationwouldbeusefultotheFASBstaff.
Generalfeedback
ClickheretoprovidegeneralfeedbackontheCodificationingeneral,theCodificationResearchSystemwebsite,andothersystem-relateditemsthatarenotcontentspecific.
CE1-3
The“What’sNew”pageprovideslinkstoCodificationcontentthathasbeenrecentlyissued.Duringtheverificationphase,updatesmayresultfromeithertheissuanceofCodificationupdateinstructionsthataccompanynewStandardsorfromchangestotheCodificationduetoincorporationofconstituentfeedback.
ANSWERSTOQUESTIONS
1.Financialaccountingmeasures,classifies,andsummarizesinreportformthoseactivitiesandthatinformationwhichrelatetotheenterpriseasawholeforusebypartiesbothinternalandexternaltoabusinessenterprise.Managerialaccountingalsomeasures,classifies,andsummarizesinreportformenterpriseactivities,butthecommunicationisfortheuseofinternal,managerialparties,andrelatesmoretosubsystemsoftheentity.Managerialaccountingismanagementdecisionorientedanddirectedmoretowardproductline,division,andprofitcenterreporting.
2.Financialstatementsgenerallyrefertothefourbasicfinancialstatements:
balancesheet,incomestatement,statementofcashflows,andstatementofchangesinowners’orstockholders’equity.Financialreportingisabroaderconcept;itincludesthebasicfinancialstatementsandanyothermeansofcommunicatingfinancialandeconomicdatatointerestedexternalparties.Examplesoffinancialreportingotherthanfinancialstatementsareannualreports,prospectuses,reportsfiledwiththegovernment,newsreleases,managementforecastsorplans,anddescriptionsofanenterprise’ssocialorenvironmentalimpact.
3.Ifacompany’sfinancialperformanceismeasuredaccurately,fairly,andonatimelybasis,therightmanagersandcompaniesareabletoattractinvestmentcapital.Toprovideunreliableandirrelevantinformationleadstopoorcapitalallocationwhichadverselyaffectsthesecuritiesmarket.
4.Theobjectiveofgeneralpurposefinancialreportingistoprovidefinancialinformationaboutthereportingentitythatisusefultopresentandpotentialequityinvestors,lenders,andothercreditorsindecisionsaboutprovidingresourcestotheentitythroughequityinvestmentsandloansorotherformsofcredit.Informationthatisdecision-usefultocapitalproviders(investors)mayalsobeusefultootherusersoffinancialreportingwhoarenotinvestors.
5.Investorsareinterestedinfinancialreportingbecauseitprovidesinformationthatisusefulformakingdecisions(referredtoasthedecision-usefulnessapproach).Whenmakingthesedecisions,investorsareinterestedinassessingthecompany’s
(1)abilitytogeneratenetcashinflowsand
(2)management’sabilitytoprotectandenhancethecapitalproviders’investments.Financialreportingshouldthereforehelpinvestorsassesstheamounts,timing,anduncertaintyofprospectivecashinflowsfromdividendsorinterest,andtheproceedsfromthesale,redemption,ormaturityofsecuritiesorloans.Inorderforinvestorstomaketheseassessments,theeconomicresourcesofanenterprise,theclaimstothoseresources,andthechangesinthemmustbeunderstood.
6.Acommonsetofstandardsappliedbyallbusinessesandentitiesprovidesfinancialstatementswhicharereasonablycomparable.Withoutacommonsetofstandards,eachenterprisecould,andwould,developitsowntheorystructureandsetofpractices,resultinginnoncomparabilityamongenterprises.
7.General-purposefinancialstatementsarenotlikelytosatisfythespecificneedsofallinterestedparties.Sincetheneedsofinterestedpartiessuchascreditors,managers,owners,governmentalagencies,andfinancialanalystsvaryconsiderably,itisunlikelythatonesetoffinancialstatementsisequallyappropriateforthesevarieduses.
QuestionsChapter1(Continued)
8.TheSEChasthepowertoprescribe,inwhateverdetailitdesires,theaccountingpracticesandprinciplestobeemployedbythecompaniesthatfallwithinitsjurisdiction.BecausetheSECreceivesauditedfinancialstatementsfromnearlyallcompaniesthatissuesecuritiestothepublicorarelistedonthestockexchanges,itisgreatlyinterestedinthecontent,accuracy,andcredibilityofthestatements.FormanyyearstheSECreliedontheAICPAtoregulatetheprofessionanddevelopandenforceaccountingprinciples.Lately,theSEChasassumedamoreactiveroleinthedevelop-mentofaccountingstandards,especiallyintheareaofdisclosurerequirements.InDecember1973,inASRNo.150,theSECsaidtheFASB’sstatementswouldbepresumedtocarrysubstantialauthoritativesupportandanythingcontrarytothemtolacksuchsupport.Ittherebysupportsthedevelopmentofaccountingprinciplesintheprivatesector.
9.TheCommitteeonAccountingProcedurewasaspecialcommitteeoftheAmericanInstituteofCPAsthat,betweentheyearsof1939and1959,issued51AccountingResearchBulletinsdealingwithawidevarietyoftimelyaccountingproblems.Thesebulletinsprovidedsolutionstoimmediateproblemsandnarrowedtherangeofalternativepractices.But,theCommittee’sproblem-by-problemapproachfailedtoprovideawell-definedand
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- intermediate accountingfifteenth edition ch01
链接地址:https://www.bdocx.com/doc/10951555.html