tailieunhanh - Lecture Intermediate accounting (15th edition): Chapter 2 - Kieso, Weygandt, Warfield

Chapter 2 - Conceptual framework for financial reporting. After studying this chapter, you should be able to: Describe the usefulness of a conceptual framework, describe efforts to construct a conceptual framework, understand the objective of financial reporting, identify the qualitative characteristics of accounting information. | Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting Intermediate Accounting Prepared by Coby Harmon University of California, Santa Barbara Westmont College INTERMEDIATE ACCOUNTING F I F T E E N T H E D I T I O N Prepared by Coby Harmon University of California Santa Barbara Westmont College kieso weygandt warfield team for success PREVIEW OF CHAPTER Intermediate Accounting 15th Edition Kieso Weygandt Warfield 2 Describe the usefulness of a conceptual framework. Describe the FASB’s efforts to construct a conceptual framework. Understand the objective of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial statements. Describe the basic assumptions of accounting. Explain the application of the basic principles of accounting. Describe the impact that the cost constraint has on reporting accounting information. After studying this chapter, you should be able to: Conceptual Framework for Financial Reporting 2 LEARNING OBJECTIVES The Need for a Conceptual Framework To develop a coherent set of standards and rules. To solve new and emerging practical problems. LO 1 Describe the usefulness of a conceptual framework. Conceptual Framework A conceptual framework underlying financial accounting is important because it can lead to consistent standards and it prescribes the nature, function, and limits of financial accounting and financial statements. LO 1 Describe the usefulness of a conceptual framework. Conceptual Framework Question (true or false): True A conceptual framework underlying financial accounting is necessary because future accounting practice problems can be solved by reference to the conceptual framework and a formal standard-setting body will not be necessary. LO 1 Describe the usefulness of a conceptual framework. False Conceptual Framework Question (true or false): The need for a conceptual framework is highlighted by accounting scandals such as . | Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting Intermediate Accounting Prepared by Coby Harmon University of California, Santa Barbara Westmont College INTERMEDIATE ACCOUNTING F I F T E E N T H E D I T I O N Prepared by Coby Harmon University of California Santa Barbara Westmont College kieso weygandt warfield team for success PREVIEW OF CHAPTER Intermediate Accounting 15th Edition Kieso Weygandt Warfield 2 Describe the usefulness of a conceptual framework. Describe the FASB’s efforts to construct a conceptual framework. Understand the objective of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial statements. Describe the basic assumptions of accounting. Explain the application of the basic principles of accounting. Describe the impact that the cost constraint has on reporting accounting information. After studying this chapter, you should be able to: Conceptual .

• Kế toán - Kiểm toán
• Conceptual framework
• Financial reporting
• Financial accounting
• Qualitative characteristics
• Intermediate accounting
• Lecture Intermediate accounting
• Stock issuance
• Estimating reserves
• Liquidating dividends
• Accounting process
• Accounting equation
• Accounting processing cycle
• 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
• Accounting information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process