Accounting principles 10e by kieso chapter 01

... Cash Flows Note Disclosure Generally Accepted Accounting Principles (GAAP) LO Generally Accepted Accounting Principles Generally Accepted Accounting Principles (GAAP) – Standards that are generally ... 5.Managerial accounting activities focus on reports for internal users Solution: 1-7 1.True 2.False 3.False 4.False 5.True LO LEARNING OBJECTIVE Explain the building blocks of ac...

Ngày tải lên: 12/05/2017, 11:44

... Accounting in Action Chapter 1-2 Accounting Principles, Ninth Edition Study Study Objectives Objectives Explain what accounting is Identify the users and uses of accounting Understand ... the accounting equation Understand the four financial statements and how they are prepared Chapter 1-3 Accounting Accounting in in Action Action What is Accounting? Three activities Who use...

Ngày tải lên: 13/05/2017, 10:21

... slides, ebook, solutions and test bank, visit http://downloadslide.blogspot.com 1-4 Test Bank for Intermediate Accounting, Twelfth Edition TRUE-FALSE—Conceptual Financial accounting is the process ... To download more slides, ebook, solutions and test bank, visit http://downloadslide.blogspot.com Test Bank for Intermediate Accounting, Twelfth Edition 1-2 MULTIPLE CHOICE—...

Ngày tải lên: 11/04/2017, 15:11

... accordance with generally accepted accounting principles To download more slides, ebook, solutions and test bank, visit http://downloadslide.blogspot.com 1-6 Test Bank for Intermediate Accounting, ... accepted for at least a year by all industry members To download more slides, ebook, solutions and test bank, visit http://downloadslide.blogspot.com - 10 Test Bank...

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Ngày tải lên: 03/04/2017, 16:06

... in cash Illustration 9-1 Receivables as a percentage of assets 9-3 LO Types of Receivables Three accounting issues: Recognizing accounts receivable Valuing accounts receivable Disposing of accounts ... Companies record credit losses as debits to Bad Debt Expense LO Valuing Accounts Receivable Methods of Accounting for Uncollectible Accounts Direct Write-Off Theoretically undesirable: 9-10...

Ngày tải lên: 12/05/2017, 11:44

... PROCEDURES Double-entry system  Each transaction must affect two or more accounts to keep the basic accounting equation in balance 2-3  Recording done by debiting at least one account and crediting ... hair salon to be called “Hair It Is.” A friend has advised Kate to set up a double-entry set of accounting records in which to record all of her business transactions Identify the balance...

Ngày tải lên: 12/05/2017, 11:44

... than when paid) In 3-5 accordance with generally accepted accounting principles (GAAP) LO Accrual- versus Cash-Basis Accounting Cash-Basis Accounting 3-6  Revenues recognized when cash is received ... Cash-basis accounting is not in accordance with generally accepted accounting principles (GAAP) LO Recognizing Revenues and Expenses REVENUE RECOGNITION PRINCIPLE Recognize reven...

Ngày tải lên: 12/05/2017, 11:44

... detailed records of the goods on hand Cost of goods sold determined by count at the end of the accounting period Calculation of Cost of Goods Sold: Beginning inventory $ 100,000 Add: Purchases, ... Accounts Receivable 200 Inventory 5-37 200 30 Cost of LO LEARNING OBJECTIVE Apply the steps in the accounting cycle to a merchandising company Adjusting Entries Generally the same as a servi...

Ngày tải lên: 12/05/2017, 11:44

... often “take inventory”  when the business is closed or business is slow  6-5 at the end of the accounting period LO 6-6 LO Determining Inventory Quantities DETERMINING OWNERSHIP OF GOODS GOODS ... in ending inventory of the current period will have a reverse effect on net income of the next accounting period 6-39  Over the two years, the total net income is correct because the errors ....

Ngày tải lên: 12/05/2017, 11:44

... Manual Accounting Systems Perform each step in the accounting cycle by hand Satisfactory with a low volume of transactions Must understand manual accounting systems to understand computerized accounting ... overall conceptual framework for establishing accounting standards In addition, high-quality international accounting requires both high-quality accounting standards and h...

Ngày tải lên: 12/05/2017, 11:45

... created the Public Company Accounting Oversight Board (PCAOB) LO Internal Control Methods and measures adopted to: 8-4 ● Safeguard assets ● Enhance the reliability of accounting records ● Increase ... documents should be accounted for  Employees should promptly forward source documents for accounting entries to the accounting department 8-12 LO ANATOMY OF A FRAUD To support their rei...

Ngày tải lên: 12/05/2017, 11:45