Solution Manual Accounting What The Numbers Mean 13th Edition by David Marshall All Chapters 1 - 16

Solution Manual

Accounting What The Numbers Mean

13th Edition by David Marshall
All Chapters 1 - 16

,CHAPTER

1
Accounting—Present and Past jn jn




CHAPTERjnOUTLINE:

I. WhatjnIsjnAccounting?
A. Definition
B. UsesjnofjnAccountingjnInformation
C. Classifications
1. FinancialjnAccounting
2. ManagerialjnAccountingjn/jnCostjnAccounting
3. Auditingjn—jnPublicjnAccounting
4. InternaljnAuditing
5. GovernmentaljnandjnNot-for-ProfitjnAccounting
6. IncomejnTaxjnAccounting

II. HowjnHasjnAccountingjnDeveloped?
A. EarlyjnHistory
B. ThejnAccountingjnProfessionjninjnthejnUnitedjnStates
C. FinancialjnAccountingjnStandardjnSettingjnatjnthejnPresentjnTime
1. FinancialjnAccountingjnStandardsjnBoard
2. StandardsjnarejnEvolving
D. StandardsjnforjnOtherjnTypesjnofjnAccounting
1. ManagerialjnAccountingjn/jnCostjnAccounting
2. Auditing
3. GovernmentaljnandjnNot-for-ProfitjnAccounting
4. IncomejnTaxjnAccounting
E. InternationaljnAccountingjnStandards
F. EthicsjnandjnthejnAccountingjnProfession

III. ThejnConceptualjnFramework
A. Context
B. SummaryjnofjnConceptsjnStatementjnNo.jn8,jnChapterjn1jn—
jnThejnObjectivejnofjnGeneraljnPurposejnFinancialjnReporting

C. ObjectivesjnofjnFinancialjnReportingjnforjnNonbusinessjnOrganizations

IV. PlanjnofjnthejnBook

,TEACHING/LEARNINGjnOBJECTIVES:

Principal:

1. Tojnpresentjnajndefinitionjnofjnaccounting.

2. Tojnidentifyjnandjndescribejndifferentjnclassificationsjnofjnaccounting.

3. Tojnemphasizejnthatjnfinancialjnaccountingjnstandardsjnarejnnotjnajn―fixedjncodejnofjnrules,
‖jnbutjnarejnestablishedjninjnresponsejntojnuserjnneedsjnandjnbusinessjndevelopments.jnAcc
ountantsjnneedjntojnapplyjnprofessionaljnjudgmentjninjnthejnapplicationjnofjnaccountingjnpr
inciples.

4. Tojnemphasizejnthejnrolejnandjnsourcesjnofjnethicsjnforjnthejnaccountingjnprofession.

Supporting:

5. Tojnsummarizejnhowjnaccountingjnhasjnevolvedjnoverjntime.

6. Tojnidentifyjnsourcesjnofjnstandardsjnforjnotherjntypesjnofjnaccountingjnandjntojncontra
stjnthesejnwithjnfinancialjnaccountingjnstandards.

7. Tojnintroducejnthejnissuesjnassociatedjnwithjnthejndevelopmentjnofjninternationaljn
accountingjnstandards.

8. TojndescribejnthejncontextjnofjnthejnFASBjnConceptualjnFrameworkjnproject.

9. TojnsummarizejnConceptsjnStatementjnNo.jn8,jnChapterjn1jn—
jnThejnObjectivejnofjnGeneraljnPurposejnFinancialjnReporting.




10. Tojnrelatejnthejnobjectivesjnofjnfinancialjnreportingjnforjnnonbusinessjnorganizationsjn
tojnthosejnofjnbusinessjnenterprises.

TEACHINGjnOBSERVATIONS/ASSIGNMENTjnSUGGESTIONS:

1. Studentsjnshouldjnbejnputjnonjnnoticejnaboutjnthejnjargonjnofjnaccounting,jnthejnusejnofjns
ynonymousjnterms,jnthejnimportancejnofjnthejncontextjnwithinjnwhichjnajntermjnisjnused,jna
ndjnthejnneedjnforjnprecisionjninjnthejnusejnofjnterminology.jnThejnfirstjnexamplejnofjnjargonj
nisjnthejntermjnentity.

, 2. Whenjndiscussingjn"Auditingjn—
jnPublicjnAccounting,"jnhavejnstudentsjnfindjnthejnauditors'jnopinionjninjnthejnCampbelljnSo

upjnCompanyjn2020jnAnnualjnReportjn(seejnpagesjn87-
88jnofjnthejnAppendix).jnEmphasizejnthatjnajn"cleanjnopinion"jnisjnnotjnajn"cleanjnbilljnofjnhe
alth."

3. DiscussjnthejnSummaryjnofjnConceptsjnStatementjnNo.jn8,jnChapterjn1jn—
jnThejnObjectivejnofjnFinancialjnReporting,jn injndetail.