financial statements and accounting standards

... 02 - Financial Statements and Accounting Concepts/Principles CHAPTER Financial Statements and Accounting Concepts/Principles CHAPTER OUTLINE: I Financial Statements A From Transactions to Financial ... financial statements To present the accounting equation To explain several of the concepts of financial accounting and financial statement presentation Supporting: To explain that financial statements ... of financial accounting and that the statements represent a historical summary of transactions To explain some of the limitations of financial statements To illustrate that the financial statements

Ngày tải lên: 08/11/2019, 15:10

... 02 - Financial Statements and Accounting Concepts/Principles CHAPTER Financial Statements and Accounting Concepts/Principles CHAPTER OUTLINE: I Financial Statements A From Transactions to Financial ... financial statements To present the accounting equation To explain several of the concepts of financial accounting and financial statement presentation Supporting: To explain that financial statements ... of financial accounting and that the statements represent a historical summary of transactions To explain some of the limitations of financial statements To illustrate that the financial statements

Ngày tải lên: 31/01/2020, 14:46

... information is reported on each financial statement and how are the financial statements related? What are transactions? What is the meaning and usefulness of the accounting equation? What are ... kind of information is reported on each financial statement and how are the financial statements related? âTheMcGrawưHillCompanies,Inc.,2002 Financial Statements ã Result of a process that begins ... long-term debt and common stock • Cash paid to reduce long-term debt and stock outstanding McGrawưHill/Irwin âTheMcGrawưHillCompanies,Inc.,2002 Financial Statement Relationships ã All financial statements

Ngày tải lên: 21/09/2020, 14:22

... CA1­16 CA1­17 FASB? ?and? ?standard­setting GAAP? ?and? ?standard­setting Financial? ?reporting? ?and? ?accounting? ?standards Financial? ?accounting Objective of? ?financial? ?reporting Accounting? ?numbers? ?and? ?the environment ... principles, determine appropriate practices,? ?and? ?narrow the areas of difference? ?and? ?inconsistency in practice Financial? ?Accounting? ?Standards? ?Board (FASB)—the mission of the FASB is to establish? ?and? ?improve? ?standards? ?of? ?financial? ?accounting ... as accepted practice? ?and? ?constitute the requirements to be followed by all business enterprises FASB? ?Statements? ?are pronouncements of the? ?Financial? ?Accounting? ?Standards? ?Board? ?and? ?currently represent the? ?accounting? ?profession’s authoritative pronouncements on? ?financial? ?accounting? ?and reporting practices

Ngày tải lên: 22/08/2019, 14:17

... Mgmt Accounting policies and other disclosures Notes to Financial Statements Report of Independent Accountants CPA firm Discussion of financial statements and explanations Opinion that statements ... in whole or in part Chapter 2: Financial Statements and the Annual Report 258 There is a standard threshold for materiality set by the Financial Accounting Standards Board for all companies ... website, in whole or in part Chapter 2: Financial Statements and the Annual Report The preparation of financial statements requires that the information be understandable: a only to CPAs b to those

Ngày tải lên: 02/10/2019, 12:57

... controls and enforcement increase the possibility of fraudulent transactions and misleading financial statements Without controls and enforcement, all accounting systems run the risk of abuse and ... Titles and Explanation May 25 Cash Landscaping Revenue + Equity Landscaping Revenue + 4,000 PR 101 403 Debit 4,000 Credit 4,000 Received cash for landscaping services 3) Post Cash 4,000 101 Landscaping ... both systems, the four basic statements are present c Accounting reports under both IFRS and US GAAP are likely different depending on the extent of accounting controls and enforcement For example,

Ngày tải lên: 02/12/2019, 15:24

... controls and enforcement increase the possibility of fraudulent transactions and misleading financial statements Without controls and enforcement, all accounting systems run the risk of abuse and ... Titles and Explanation May 25 Cash Landscaping Revenue + Equity Landscaping Revenue + 4,000 PR 101 403 Debit 4,000 Credit 4,000 Received cash for landscaping services 3) Post Cash 4,000 101 Landscaping ... both systems, the four basic statements are present c Accounting reports under both IFRS and US GAAP are likely different depending on the extent of accounting controls and enforcement For example,

Ngày tải lên: 31/01/2020, 14:11

... Other types of? ?financial? ?statements Financial? ?Statements Financial? ?statements:  Represent the? ?financial? ?history of the organization – both  successes? ?and? ?failures  Assist in planning, budgeting? ?and? ?investment analysis ... equation  Other types of? ?financial? ?statements 49 Other? ?Financial? ?Statements   The Income Statement, Balance Sheet? ?and? ?Cash Flow  Statement are? ?financial? ?statements? ?are mandatory reports for  publically held corporations ... equation  Other types of? ?financial? ?statements 41 Accounting? ?System  Accounting? ?system is responsible for:  Collecting? ?and? ?recording? ?financial? ?events  Organizing? ?financial? ?data into usable information

Ngày tải lên: 03/02/2020, 22:35

... Understand issues related to ethics? ?and? ?financial? ?accounting Chapter 1-3 Financial? ?Accounting? ?and? ?Accounting? ?Standards Financial? ?Accounting? ?and? ?Accounting? ?Standards Financial Statements and Financial Reporting Accounting and capital allocation ... LO 1  Identify the major? ?financial? ?statements? ?and? ?other means of? ?financial? ?reporting Financial? ?Statements? ?and? ?Financial? ?Reporting Financial? ?Statements? ?and? ?Financial? ?Reporting Economic Entity Financial Statements ... CHAPTER FINANCIAL ACCOUNTING AND ACCOUNTING STANDARDS Intermediate? ?Accounting 13th Edition Kieso, Weygandt,? ?and? ?Warfield  Chapter 1-2 Learning Objectives Learning Objectives Identify the major? ?financial? ?statements? ?and? ?other means of? ?financial? ?reporting

Ngày tải lên: 14/10/2020, 14:33

... Intermediate Financial Accounting I Financial Accounting and Accounting Standards Objectives of the Chapters Understand the need to develop accounting standards Study the development of accounting standards ... convergence of the U.S accounting standards with the International Accounting Standards Environment and Theoretical Structure of Financial Accounting Financial Reporting: An Introduction and Historical ... Accounting Standards 1 Changes of the economic environment and the development of accounting standards 2 The economic consequence of accounting standards 3 The accounting standard setting

Ngày tải lên: 30/11/2016, 22:07

... Chapter Financial Statements and Analysis Learning Goals Review the contents of the stockholders’ report and the procedures for consolidating international financial statements Understand who uses financial ... guidelines used to prepare and maintain financial records and reports are known as generally accepted accounting principles (GAAP) • GAAP is authorized by the Financial Accounting Standards Board (FASB) ... dissect the firm’s financial statements and to assess its financial condition • It merges the income statement and balance sheet into two summary measures of profitability: ROA and ROE as shown

Ngày tải lên: 27/02/2018, 16:19

... 21-21 Convergence of Accounting Standards • Financial Accounting Standards Board (FASB) – U.S Generally Accepted Accounting Principles (U.S.GAAP) • International Accounting Standards Board (IASB) ... Standards Board (IASB) – International Financial Reporting Standards (IFRS) 21-22 Use of International Financial Reporting Standards 21-23 Triple Bottom-Line Accounting • 3BL – A results or impact ... accounting standards? ?? convergence process and its importance 21-4 Capital Structure of the Firm • Retained earnings • Debt – Offshore financial center specializes in financing nonresidents, low taxes and

Ngày tải lên: 04/02/2020, 18:52

... Center for Research in Financial Services, Accounting Department, University of Maryland, Finance Department, University of Maryland, The Journal of Accounting and Public Policy and The Review of ... Review of Quantitative Finance and Accounting; Dept of Finance and Economics; Dept of Accounting and Information Systems; Center for Governmental Accounting Education and Research September 21, 2001: ... Theories of Accounting Conservatism Moderator: John Hughes, University of California, Los Angeles Session II Accounting and Finance Joint Session A: Returns and Financial Statements Moderator: Randolph

Ngày tải lên: 18/10/2022, 12:00

... issued standards through its Committee on Accounting Procedure (CAP) and Accounting Principles Board (APB) The Financial Accounting Standards Board (FASB) establishes and improves standards of financial ... _ Financial Accounting and Accounting Standards TIP: The financial statements most frequently provided by an entity (often called the basic financial statements or general purpose financial statements) ... of financial accounting and reporting for business enterprises is the: a Financial Accounting Foundation (FAF) b Financial Accounting Standards Board (FASB) c Financial Accounting Standards Advisory...

Ngày tải lên: 17/02/2014, 10:20

... financial statements for the year ended December 31, 2010, except for the application of new standards, amendments to standards and interpretations published by the International Accounting Standards ... party and all the risks and rewards of the asset have been substantially transferred Cash and cash equivalents Cash and cash equivalents comprise cash on hand and at banks, demand deposits and ... consolidation The financial statements of the consolidated companies have the same financial year-end as the parent company’s individual financial statements and are prepared using the same accounting...

Ngày tải lên: 18/02/2014, 05:20

... America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and ... 2009 financial statements, and in our report dated January 20, 2010, we expressed an unqualified opinion on those financial statements We conducted our audit in accordance with auditing standards ... Federal and Other Governmental Awards 18 - 21 Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements...

Ngày tải lên: 18/06/2014, 20:20

... foundations and corporations, United Way, and individual donations from the general public Note - Summary of Significant Accounting Policies: a Basis of Accounting The financial statements of ... make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of support, revenue and expenses during ... and Equipment: The cost and related accumulated depreciation of the property and equipment as of June 30, consisted of the following: 2010 Building and improvements Equipment and furniture Land...

Ngày tải lên: 18/06/2014, 20:20

... accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller ... www.adultpdf.com 21 Consultants and Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in ... standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United...

Ngày tải lên: 18/06/2014, 20:20

... on these financial statements based on our audits We conducted our audits in accordance with auditing standards generally accepted in the United States and the standards applicable to financial ... Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards .34  ... York, as of June 30, 2010 and 2009 and the related statements of revenues, expenses and changes in fund net assets and cash flows for the years then ended These financial statements are the responsibility...

Ngày tải lên: 19/06/2014, 21:20

... accounting and financial reporting, the IDA follows the pronouncements of the GASB In addition, IDA follows only the pronouncements of all applicable Financial Accounting Standards Board Statements and ... 2008, the GASB issued Government Accounting Standards (GAS) No 53, Accounting and Financial Reporting for Derivative Instruments, which establishes accounting and reporting requirements for derivative ... to Financial Statements (continued) Summary of Significant Accounting Policies Basis of Presentation IDA is classified as an “enterprise fund,” as defined by the Governmental Accounting Standards...

Ngày tải lên: 19/06/2014, 21:20