Intermediate Accounting 13th Canadian Edition (Volume 1) By Donald Kieso, Jerry Weygandt, Terry Warfield (Solutions Manual)

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Kieso, Weygandt,Warfield,Wiecek, McConomy
o, o, o, o, IntermediateAccounting,ThirteenthCanadianEdition o, o, o, o,




CHAPTER 1 o,




THECANADIANFINANCIALREPORTING
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ENVIRONMENT o,




LearningObjectives o,




1. Understandthe financialreporting environment. o, o, o, o,




2. Explain the need for accounting standards and identify the
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major entities that influence standard setting and financial
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reporting.
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3. Explain the meaning of generally accepted accounting o, o, o, o, o, o,




principles (GAAP) and the significance of professional
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judgement in applying GAAP.
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4. Discuss some of the challenges and opportunities for o, o, o, o, o, o, o,




accounting.
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5.




Solutions Manual o, 1-1 Chapter 1 o,




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Kieso, Weygandt,Warfield,Wiecek, McConomy
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Summary ofQuestions byLearning Objectives and Bloom’s Taxonomy
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Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT
Brief Exercises o,




1. 1 C 7. 1 C 13. 2 C 19. 4 C 25. 4 C
2. 1 C
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3. 1 K
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4. 1 C
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5. 1 C
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6. 2 C 12. 2 C 18. 3 C 24. 4 C
Cases
1. 1 C 2. 1 C 3. 1 C 4. 1 C 5. 1 C
Research and Analysis o, o,




1 1 AN 2 2 AN 3 2 C 4 4 AN 5 2 C
6 1 C 7 1 AN 8 1 C 9 4 C 10 1 C
11 2,4 C 12 4 C 13 1 AN 14 4 C




Solutions Manual
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Kieso, Weygandt,Warfield,Wiecek, McConomy
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Legend: Thefollowing abbreviations willappearthroughoutthe solutions manual file.
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LO Learning objective o,




BT Bloom's Taxonomy o,




K Knowledge
C Comprehension
AP Application
AN Analysis
S Synthesis
E Evaluation
Difficulty: Level of difficulty o, o,




S Simple
M Moderate
C Complex
Time: Estimated time to complete in minutes o, o, o, o, o,




AACSB Associationto AdvanceCollegiate Schools of Business o, o, o, o, o, o,




Communication Communication
Ethics Ethics
Analytic Analytic
Tech. Technology
Diversity Diversity
Reflec. Thinking ReflectiveThinking o, o,




CPA CM o, CPACanada Competency Map o, o, o,




Ethics ProfessionalandEthicalBehaviour o, o, o,




PS and DM
o, Problem-SolvingandDecision-Making
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Comm. Communication
Self-Mgt. Self-Management
Team & Lead Teamworkand Leadership
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Reporting FinancialReporting o,




Stat. & Gov. Strategy and Governance
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Mgt. Accounting Management Accounting
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Audit Audit and Assurance o, o,




Finance Finance
Tax Taxation
DAIS DataAnalytics and Information Systems o, o, o, o,




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Kieso, Weygandt,Warfield,Wiecek, McConomy
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ASSIGNMENTCLASSIFICATIONTABLE o, o,




Topic Brief Exercises o, Cases

1. Financial statements andfinancial reporting. o, o, o, o, 7

2. Capital allocation. o, 1

3. Stakeholders. 2 3, 4, 5o, o,




4. Objectives of financial reporting. o, o, o, 3, 15, 23
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5. Management bias infinancial reporting. o, o, o, o, 1, 2, 4, 5
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6. Importance of user needs in financial reporting. o, o, o, o, o, o, 7, 15 o,




7. Need for accounting standards.
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8. Partiesinvolved in standard-setting.
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13, 14, 15 o, o,




9. GAAP. 16, 17, 18, 19 o, o, o,




10. Professional judgement. o, 20, 21 o,




11. Ethical issues. o, 22, 24 o, 1, 2, 5o, o,




12. Challengesfacing financial accounting o, o, o, 21, 25, 26, 27, 28,
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29

13. Information asymmetry o, 4, 5 o,




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