tailieunhanh - Lecture Intermediate accounting (Volume 2, 11th Canadian edition) – Chapter 23: Other measurement and disclosure issues

After studying this chapter, you should be able to: Understand the importance of disclosure from a business perspective, review the full disclosure principle and describe problems of implementation, explain the use of accounting policy notes in financial statement preparation,. | 1 CHAPTER 23: OTHER MEASUREMENT AND DISCLOSURE ISSUES 2 2 CHAPTER 23: Other Measurement and Disclosure Issues After studying this chapter, you should be able to: Understand the importance of disclosure from a business perspective. Review the full disclosure principle and describe problems of implementation. Explain the use of accounting policy notes in financial statement preparation. Describe the disclosure requirements for major segments of a business. Describe the accounting problems associated with interim reporting. Discuss the accounting issues for related-party transactions. Identify the difference between the two types of subsequent events. Identify the major considerations relating to bankruptcy and receivership. Identify the major disclosures found in the auditor’s report. Describe methods used for basic financial statement analysis and summarize the limitations of ratio analysis. Identify the major differences in accounting between IFRS and APSE, and what changes are expected in the near future. 3 3 Importance of Disclosure Information disclosure is an important part of capital markets: Financial statements are only one source of information for investors Other sources include: Annual information forms Management’s discussion and analysis (MD&A) New releases Users must use caution because not all disclosure is good disclosure 4 LO1 Understand the importance of disclosure from a business perspective. 4 The Full Disclosure Principle The full disclosure principle calls for financial reporting of significant facts affecting the judgment of an informed reader The problems of implementing this principle are costs of disclosure or information overload Materiality also applies to note disclosures-obscuring material information with immaterial information makes it less understandable Over the past several decades, disclosures for public companies have significantly increased 5 5 LO2 Review the full disclosure principle and describe problems of implementation. . | 1 CHAPTER 23: OTHER MEASUREMENT AND DISCLOSURE ISSUES 2 2 CHAPTER 23: Other Measurement and Disclosure Issues After studying this chapter, you should be able to: Understand the importance of disclosure from a business perspective. Review the full disclosure principle and describe problems of implementation. Explain the use of accounting policy notes in financial statement preparation. Describe the disclosure requirements for major segments of a business. Describe the accounting problems associated with interim reporting. Discuss the accounting issues for related-party transactions. Identify the difference between the two types of subsequent events. Identify the major considerations relating to bankruptcy and receivership. Identify the major disclosures found in the auditor’s report. Describe methods used for basic financial statement analysis and summarize the limitations of ratio analysis. Identify the major differences in accounting between IFRS and APSE, and what changes are .

• Kế toán - Kiểm toán
• Intermediate accounting
• Lecture Intermediate accounting
• Financial reporting
• Disclosure issues
• Accounting policies
• 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 information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process