Intermediate Accounting fully solved graded A+

Intermediate Accounting financial accounting - correct answer accounting that focuses om the information needs of investors and creditors financial reporting - correct answer process of providing financial statement information to external users accrual Accounting - correct answer recording in each fiscal period applicable expenses, whether paid or not, and income earned, whether collected or not. net operating cash flow - correct answer the difference between cash receipts and cash disbursements from providing goods and services net income - correct answer difference between revenue and expenses gaap - correct answer dynamic set of both broad and specific guidelines that companies should follow when measuring and reporting the information in their financial statements and related notes securities and exchange commission (SEC) - correct answer has the authority to set accounting standards for companies, but it relies on the private sector to do so Emerging Issues Task Force (EITF) - correct answer formed to improve financial reporting by resolving narrowly defined financial accounting issues within the framework of existing GAAP Financial Accounting Standards Board (FASB) - correct answer The primary accounting standard-setting body in the United States. CAP, APB, FASB - correct answer order of private sectors chronologically