tailieunhanh - Lecture Intermediate accounting (Volume 1, IFRS edition): Chapter 5 - Kieso, Weygandt, Warfield

Chapter - Statement of financial position and statement of cash flows. After completing this chapter you should be able to: Explain the uses and limitations of a balance sheet, identify the major classifications of the balance sheet, prepare a classified balance sheet using the report and account formats, determine which balance sheet information requires supplemental other contents. | C H A P T E R 5 STATEMENT OF FINANCIAL POSITION AND STATEMENT OF CASH FLOWS Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield Explain the uses and limitations of a statement of financial position. Identify the major classifications of the statement of financial position. Prepare a classified statement of financial position using the report and account formats. Indicate the purpose of the statement of cash flows. Identify the content of the statement of cash flows. Prepare a basic statement of cash flows. Understand the usefulness of the statement of cash flows. Determine additional information requiring note disclosure. Describe the major disclosure techniques for financial statements. Learning Objectives Statement of Financial Position Additional Information Usefulness Limitations Classification Notes Techniques of disclosure Other guidelines Statement of Financial Position and Statement of Cash Flows Statement of Cash Flows Purpose Content and format Preparation Usefulness Statement of Financial Position LO 1 Explain the uses and limitations of a statement of financial position. Statement of Financial Position, also referred to as the balance sheet: Reports assets, liabilities, and equity at a specific date. Provides information about resources, obligations to creditors, and equity in net resources. Helps in predicting amounts, timing, and uncertainty of future cash flows. Computing rates of return. Evaluating capital structure. Assess risk and future cash flows. Analyze company’s: Liquidity Solvency Financial flexibility Usefulness Statement of Financial Position LO 1 Explain the uses and limitations of a statement of financial position. Most assets and liabilities are reported at historical cost. Use of judgments and estimates. Many items of financial value are omitted. Limitations LO 1 Explain the uses and limitations of a statement of financial position. Statement of Financial Position Classification LO 2 Identify the major classifications . | C H A P T E R 5 STATEMENT OF FINANCIAL POSITION AND STATEMENT OF CASH FLOWS Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield Explain the uses and limitations of a statement of financial position. Identify the major classifications of the statement of financial position. Prepare a classified statement of financial position using the report and account formats. Indicate the purpose of the statement of cash flows. Identify the content of the statement of cash flows. Prepare a basic statement of cash flows. Understand the usefulness of the statement of cash flows. Determine additional information requiring note disclosure. Describe the major disclosure techniques for financial statements. Learning Objectives Statement of Financial Position Additional Information Usefulness Limitations Classification Notes Techniques of disclosure Other guidelines Statement of Financial Position and Statement of Cash Flows Statement of Cash Flows Purpose Content and format Preparation .

• Kế toán - Kiểm toán
• Intermediate accounting
• Lecture Intermediate accounting
• Statement of financial position
• Statement of cash flows
• Ccash flows
• Financial Accounting
• Accounting process
• Accounting equation
• Accounting processing cycle
• Stock issuance
• Estimating reserves
• Liquidating dividends
• Accounting changes
• Error corrections
• Accounting choices
• Theoretical structure
• Accrual accounting
• Financial accounting environment
• Accounting for leases
• Leasing environment
• Accounting by lessee
• Special accounting problems
• Cash versus accrual accounting
• International standard setting
• Accounting standards
• Accounting assists
• The challenges facing accounting
• Income taxes
• Accounting for income taxes
• Deferred tax liabilities
• Error analysis
• Accounting policy
• Accounting estimate
• Accounting policies
• Financial reporting
• Accounting information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process