Accounting principles chapter 03

... accrual-basis accounting is incorrect? a Accrual-basis accounting follows the revenue recognition principle b Accrual-basis accounting is the method required by generally accepted accounting principles ... Accrual-basis accounting follows the revenue recognition principle b Accrual-basis accounting is the method required by generally accepted accounting principles c Accrual-...

Ngày tải lên: 05/04/2017, 14:48

... CHAPTER ADJUSTING THE ACCOUNTS Accounting Principles, Eighth Edition Chapter 3-2 Study Study Objectives Objectives Explain the time period assumption Explain the accrual basis of accounting ... recognized when cash is paid Cash-basis accounting is not in accordance with generally accepted accounting principles (GAAP) Chapter 3-8 LO Explain the accrual basis of accounting T...

Ngày tải lên: 05/04/2017, 15:19

... 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

... recognized when cash is paid Cash-basis accounting is not in accordance with generally accepted accounting principles (GAAP) Chapter 3-8 SO Explain the accrual basis of accounting Timing Timing Issues ... incurred, rather than when paid Chapter 3-7 SO Explain the accrual basis of accounting Timing Timing Issues Issues Accrual- vs Cash-Basis Accounting Cash-Basis Accounting...

Ngày tải lên: 13/05/2017, 10:21

... basis of accounting Timing Issues Accrual- vs Cash-Basis Accounting Cash-Basis Accounting 3-8  Revenues recognized when cash is received  Expenses recognized when cash is paid  Cash-basis accounting ... accepted accounting principles (GAAP) SO Explain the accrual basis of accounting Timing Issues Recognizing Revenues and Expenses Revenue Recognition Principle Recognize reve...

Ngày tải lên: 15/05/2017, 10:33

... or in part Accrual Accounting (Matching Rule)  Under accrual accounting (often referred to as the matching rule) net income is measured by assigning: – Revenues to the accounting period in ... accessible website, in whole or in part Concepts Underlying Accrual Accounting  The cash basis of accounting is the practice of accounting for revenues in the period in which cash...

Ngày tải lên: 15/05/2017, 15:42

... Cash-Basis Accounting Cash-Basis Accounting   Expenses recognized when cash is paid  3-2 Revenues recognized when cash is received Cash-basis accounting is not in accordance with International Financial ... International Financial Reporting Standards (IFRS) LO Explain the accrual basis of accounting Timing Issues Accrual- vs Cash-Basis Accounting Accrual-Basis Accounting ...

Ngày tải lên: 15/01/2015, 10:13

... Case 30-34 139 140 Chapter Lecture Notes Helpful Hint: Before beginning the lecture, show students the third segment from the first tape of the McGraw-Hill/Irwin Managerial/ Cost Accounting video ... manufacturing overhead to jobs in this chapter What costs should or should not be allocated to jobs and to products remains a controversial issue In the chapter we confine discussion to...

Ngày tải lên: 23/11/2016, 10:46

... outcome CHAPTER QUIZ SOLUTIONS: 1.a 2.c 3.b 4.a 5.c 6.d 7.b 8.c 9.b 10.d Cost- Volume- Profit Analysis 33 CHAPTER QUIZ Which of the following is not an assumption of cost- volume- profit analysis? ... statements Cost- Volume- Profit Analysis 35 WRITING/DISCUSSION EXERCISES Understand the assumptions underlying cost- volume- profit (CVP) analysis How helpful is a mod...

Ngày tải lên: 23/11/2016, 16:12

... in the issue of a liability to purchase the asset) 12 Principles of Financial Accounting Measurement   When transactions occur, we must decide when to recognize the transactions in the financial ... objectivity and timeliness  Alternative accounting periods include the calendar or fiscal year  Going Concern The life of an economic entity is assumed to be indefinite  Asset...

Ngày tải lên: 24/11/2016, 11:11

... 3-4 The The Accounting Accounting Information Information System System Accounting Information System System of ► collecting and ► processing transaction data and ► communicating financial information ... information to decision makers Most businesses use computerized accounting (EDP) systems 3-5 LO Analyze the effect of business transactions on the basic accoun...

Ngày tải lên: 24/11/2016, 14:35

... 3-4 The The Accounting Accounting Information Information System System Accounting Information System System of ► collecting and ► processing transaction data and ► communicating financial information ... THE ACCOUNTING INFORMATION SYSTEM 3-2 Financial Accounting, Seventh Edition Learning Learning Objectives Objectives After studying this chapter, you should be a...

Ngày tải lên: 01/12/2016, 14:33

... responsibility Explain cause-related marketing © 2015 by Cengage Learning Inc All Rights Reserved Determinants of a Civil Society Explain the determinants of a civil society © 2015 by Cengage ... Rights Reserved The Concept of Ethical Behavior Explain the concept of ethical behavior © 2015 by Cengage Learning Inc All Rights Reserved Ethical Behavior The moral principles or values...

Ngày tải lên: 09/12/2016, 12:20

... CHAPTER ACCOUNTING IN ACTION After studying this chapter, you should be able to: • Explain what accounting is • Identify users and uses of accounting • Understand why ... concept • Explain the meaning of generally accepted accounting principles and the cost principle CHAPTER ACCOUNTING IN After studying thisACTION chapter, you should be able to: • Explain the meaning ... BOO...

Ngày tải lên: 05/04/2017, 14:48

... CHAPTER THE RECORDING After studying this chapter, you should be able to: PROCESS Explain what an account is and how ... process Explain what a journal is and how it helps in the recording process CHAPTER THE RECORDING After studying PROCESS this chapter, you should be able to: Explain what a ledger is and how it helps ... trial balance and explain its purpose THE ACCOUNT STUDY OBJECTIV...

Ngày tải lên: 05/04/2017, 14:48