Solution Manual for Accounting: What the Numbers Mean, 13th Edition by David Marshall | All Chapters 1-16 Complete Solutions

SOLUTION MANUAL ii




ACCOUNTING WHAT THE NUMBERS MEAN
ii ii ii ii




13TH EDITION BY DAVID MARSHALL
ii ii ii ii




ALL CHAPTERS 1 - 16
ii ii ii ii ii

,CHAPTER
ACCOUNTING—PRESENT AND ii




1 PAST
ii




CHAPTER iiOUTLINE:

I.WHAT iiIS iiACCOUNTING?
A.DEFINITION
B.USES iiOF iiACCOUNTING iiINFORMATION
C.CLASSIFICATIONS
1.FINANCIAL iiACCOUNTING
2.MANAGERIAL iiACCOUNTING ii/ iiCOST iiACCOUNTING
3.AUDITING ii— iiPUBLIC iiACCOUNTING
4.INTERNAL iiAUDITING
5.GOVERNMENTAL iAND iiNOT-FOR-PROFIT iiACCOUNTING
6.INCOME iiTAX iiACCOUNTING

II.HOW iiHAS iiACCOUNTING iiDEVELOPED?
A.EARLY iiHISTORY
B.THE iiACCOUNTING iiPROFESSION iiIN iiTHE iiUNITED iiSTATES
C.FINANCIAL iiACCOUNTING iiSTANDARD iiSETTING iiAT iiTHE iiPRESENT iiTIME
1.FINANCIAL iiACCOUNTING iiSTANDARDS iiBOARD
2.STANDARDS iiARE iiEVOLVING
D.STANDARDS iiFOR iiOTHER iiTYPES iiOF iiACCOUNTING
1.MANAGERIAL iiACCOUNTING ii/ iiCOST iiACCOUNTING
2.AUDITING
3.GOVERNMENTAL iAND iiNOT-FOR-PROFIT iiACCOUNTING
4.INCOME iiTAX iiACCOUNTING
E.INTERNATIONAL iiACCOUNTING iiSTANDARDS
F.ETHICS iiAND iiTHE iiACCOUNTING iiPROFESSION

III.THE iiCONCEPTUAL iiFRAMEWORK
A.CONTEXT
B.SUMMARY iiOF iiCONCEPTS iiSTATEMENT iiNO. ii8, iiCHAPTER ii1 ii— iiTHE iiOBJECTIVE
iiOF iiGENERAL iiPURPOSE iFINANCIAL iiREPORTING

C.OBJECTIVES iiOF iiFINANCIAL iiREPORTING iiFOR iiNONBUSINESS iiORGANIZATIONS

IV.PLAN iiOF iiTHE iiBOOK

,TEACHING/LEARNING iiOBJECTIVES:

PRINCIPAL:

1.TO iiPRESENT iiA iiDEFINITION iiOF iiACCOUNTING.

2.TO iiIDENTIFY iiAND iiDESCRIBE iiDIFFERENT iiCLASSIFICATIONS iiOF iiACCOUNTING.

3.TO iiEMPHASIZE iiTHAT iiFINANCIAL iiACCOUNTING iiSTANDARDS iiARE iiNOT iiA ii―FIXED
iiCODE iiOF iiRULES,‖ iiBUT iiARE iiESTABLISHED iiIN iiRESPONSE iiTO iiUSER iiNEEDS iiAND


iiBUSINESS iiDEVELOPMENTS. iiACCOUNTANTS iiNEED iiTO iiAPPLY iPROFESSIONAL


iiJUDGMENT iiIN iiTHE iiAPPLICATION iiOF iiACCOUNTING iiPRINCIPLES.




4.TO iiEMPHASIZE iiTHE iiROLE iiAND iiSOURCES iiOF iiETHICS iiFOR iiTHE iiACCOUNTING iiPROFESSION.

SUPPORTING:

5.TO iiSUMMARIZE iiHOW iiACCOUNTING iiHAS iiEVOLVED iiOVER iiTIME.

6.TO iiIDENTIFY iiSOURCES iiOF iiSTANDARDS iiFOR iiOTHER iiTYPES iiOF
iiACCOUNTING iiAND iiTO iiCONTRAST iiTHESE iiWITH iFINANCIAL


iiACCOUNTING iiSTANDARDS.




7.TO iiINTRODUCE iiTHE iiISSUES iiASSOCIATED iiWITH iiTHE iiDEVELOPMENT iiOF
iiINTERNATIONAL iiACCOUNTING iSTANDARDS.




8.TO iiDESCRIBE iiTHE iiCONTEXT iiOF iiTHE iiFASB iiCONCEPTUAL iiFRAMEWORK iiPROJECT.

9.TO iiSUMMARIZE iiCONCEPTS iiSTATEMENT iiNO. ii8, iiCHAPTER ii1 ii— iiTHE
iiOBJECTIVE iiOF iiGENERAL iiPURPOSE iFINANCIAL iiREPORTING.




10.TO iiRELATE iiTHE iiOBJECTIVES iiOF iiFINANCIAL iiREPORTING iiFOR
iiNONBUSINESS iiORGANIZATIONS iiTO iiTHOSE iiOF iBUSINESS iiENTERPRISES.




TEACHING iiOBSERVATIONS/ASSIGNMENT iiSUGGESTIONS:
1.STUDENTS iiSHOULD iiBE iiPUT iiON iiNOTICE iiABOUT iiTHE iiJARGON iiOF
ACCOUNTING, iiTHE iiUSE iiOF iiSYNONYMOUS iiTERMS, iiTHE iiIMPORTANCE iiOF iiTHE
ii



CONTEXT iiWITHIN iiWHICH iiA iiTERM iiIS iiUSED, iiAND iiTHE iiNEED iiFOR iiPRECISION
ii



IN
i

, iiTHE iiUSE iiOF iiTERMINOLOGY. iiTHE iiFIRST iiEXAMPLE iiOF iiJARGON iiIS iiTHE iiTERM
iiENTITY.




2.WHEN iiDISCUSSING ii"AUDITING ii— iiPUBLIC iiACCOUNTING," iiHAVE iiSTUDENTS
iiFIND iiTHE iiAUDITORS' iiOPINION iIN iiTHE iiCAMPBELL iiSOUP iiCOMPANY ii2020


iiANNUAL iiREPORT ii(SEE iiPAGES ii87-88 iiOF iiTHE iiAPPENDIX). iiEMPHASIZE iiTHAT iiA


ii"CLEAN iiOPINION" iiIS iiNOT iiA ii"CLEAN iiBILL iiOF iiHEALTH."




3.DISCUSS iiTHE iiSUMMARY iiOF iiCONCEPTS iiSTATEMENT iiNO. ii8, iiCHAPTER ii1 ii— iiTHE
iiOBJECTIVE iiOF iiFINANCIAL iREPORTING, iiIN iiDETAIL.