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Accounting What The Numbers Mean
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13th Edition by David Marshall
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All Chapters 1 - 16
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,
,CHAPTER
1
Accounting—Present and Past df df
CHAPTERdfOUTLINE:
I. WhatdfIsdfAccounting?
A. Definition
B. UsesdfofdfAccountingdfInformation
C. Classifications
1. FinancialdfAccounting
2. ManagerialdfAccountingdf/dfCostdfAccounting
3. Auditingdf—dfPublicdfAccounting
4. InternaldfAuditing
5. GovernmentaldfanddfNot-for-ProfitdfAccounting
6. IncomedfTaxdfAccounting
II. HowdfHasdfAccountingdfDeveloped?
A. EarlydfHistory
B. ThedfAccountingdfProfessiondfindfthedfUniteddfStates
C. FinancialdfAccountingdfStandarddfSettingdfatdfthedfPresentdfTime
1. FinancialdfAccountingdfStandardsdfBoard
2. StandardsdfaredfEvolving
D. StandardsdffordfOtherdfTypesdfofdfAccounting
1. ManagerialdfAccountingdf/dfCostdfAccounting
2. Auditing
3. GovernmentaldfanddfNot-for-ProfitdfAccounting
4. IncomedfTaxdfAccounting
E. InternationaldfAccountingdfStandards
F. EthicsdfanddfthedfAccountingdfProfession
III. ThedfConceptualdfFramework
A. Context
B. SummarydfofdfConceptsdfStatementdfNo.df8,dfChapterdf1df—
dfThedfObjectivedfofdfGeneraldfPurposefd
FinancialdfReporting
C. ObjectivesdfofdfFinancialdfReportingdffordfNonbusinessdfOrganizations
IV. PlandfofdfthedfBook
, TEACHING/LEARNINGdfOBJECTIVES:
Principal:
1. Todfpresentdfadfdefinitiondfofdfaccounting.
2. Todfidentifydfanddfdescribedfdifferentdfclassificationsdfofdfaccounting.
3. Todfemphasizedfthatdf financialdfaccountingdfstandardsdfaredfnotdfadf―fixeddfcodedfofdfrules,‖
dfbutdf aredfestablisheddfindfresponsedftodfuserdfneedsdfanddfbusinessdfdevelopments.dfAcco
untantsdfneeddftodfapplyfdprofessionaldfjudgmentdfindfthedfapplicationdfofdfaccountingdfprin
ciples.
4. Todfemphasizedfthedfroledfanddfsourcesdfofdfethicsdffordfthedfaccountingdfprofession.
Supporting:
5. Todfsummarizedfhowdfaccountingdfhasdfevolveddfoverdftime.
6. Todfidentifydfsourcesdfofdfstandardsdffordfotherdftypesdfofdfaccountingdfanddftodfcontras
tdfthesedfwithffd inancialdfaccountingdfstandards.
7. Todfintroducedfthedfissuesdfassociateddfwithdfthedfdevelopmentdfofdfinternationaldfa
ccountingfsd tandards.
8. TodfdescribedfthedfcontextdfofdfthedfFASBdfConceptualdfFrameworkdfproject.
9. TodfsummarizedfConceptsdfStatementdfNo.df8,dfChapterdf1df—
dfThedfObjectivedfofdfGeneraldfPurposefF
d inancialdfReporting.
10. Todfrelatedfthedfobjectivesdfofdffinancialdfreportingdffordfnonbusinessdforganizationsdft
odfthosedfofdfbusinessdfenterprises.
TEACHINGdfOBSERVATIONS/ASSIGNMENTdfSUGGESTIONS:
1. Studentsdfshoulddfbedfputdfondfnoticedfaboutdfthedfjargondfofdfaccounting,dfthedfusedfofdfsy
nonymousdfterms,dfthedfimportancedfofdfthedfcontextdfwithindfwhichdfadftermdfisdfused,dfand
dfthedfneeddffordfprecisionfd
indfthedfusedfofdfterminology.dfThedffirstdfexampledfofdfjargondfisdft
hedftermdfentity.