Codification Study guides, Revision notes & Summaries

British constitution - ANSWER-- Uncodified, not unwritten (some things are written down, such as case law and some legislation) Not codified = not contained in one single document - Not entrenched, so it is easier to change than some other jurisdictions' constitutions such as the US and Canada. The two arguments against codification of the British constitution - ANSWER-1) What Jeff King calls the 'conservative' argument 2) The 'judicialization' of the political constitution Conserv...

Intermediate Accounting 1 (Ch.1-5)Accounting & Capital Allocation - correct answer Financial reporting: provides direction to users on capital allocation decisions > Users: investors/creditors > Capital Allocation: how money gets spent Accounting Principles Board (APB) - correct answer standard-setting organization mission was to develop an overall conceptual framework called APB Opinions Accounting Research Bulletins - correct answer 51 bulletins from the Committee on Accounting ...

What is a primary goal of the accounting profession? - Consistent treatment of like transactions to allow clarity in presentation and consistency in interpretation of financial statements prepared by various individuals or entities. How did APB (Accounting Principals Board) fail? - Created Opinion #5 (Reporting of Leases in Financial Statements of Lessees) and Opinion #7 (Accounting for Leases in Financial Statements for Lessors) that ha different opinions and left lessors & lessees with co...

CLFP EXAM - History & Purpose of Leasing Currently how big is the leasing industry? - Correct answer-American companies acquire $1 billion in equipment each year of which 55% is leased. What % of companies lease? - Correct answer-8 of 10 How old is leasing? - Correct answer-4000 years ago the Sumerians produced leases on clay tablets for ag tools, water rights and animals. The Code of Hammurabi is an ancient record of Babylonian dating back to 1700 bc What is the Statue of Whales? - Corr...

WGU Intermediate Accounting I Accounting Principles Вoard (APB). - correct answer An accounting rule-making board which provided official pronouncements, called APB Opinions, from 1959 through 1973. Accounting Research Bulletins (ARBS). - correct answer Pronouncements issued by CAP dealing with a variety of timely accounting problems during the years 1939 to 1959. Accounting Standards Executive Committee (AcSEC) - correct answer The senior technical committee that was authorized to sp...

SPCE 611 Final Exam Prep (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: science The study of our natural world through observation, identification, description, experimental investigation, and theoretical explanations. Q: automaticity of reinforcement Answer: behavior is modified by its consequences irrespective of the person's awareness. Person doesn't have to know that a consequence has occurred. Q: aversive stimulus Answer...

The financial statements most frequently provided include all of the following except a. income statement b. balance sheet c. statement of cash flows d. statement of retained earnings - d. statement of retained earnings Which of the following represents a form of communication through financial reporting but not through financial statements? a. President's letter b. income statement c. notes to financial statements d. balance sheet - a. President's letter Which of the following is n...

What are net sales correct answers Sales - returns (expected returns) What is the pervasive constraint correct answers Benefits > Costs In Decision usefulness what falls under Relevance correct answers Predictive Value Confirmatory Value In Decision usefulness what falls under Faithful Representation correct answers Complete Neutral Free from Error What are the Enhancing Qualitative Characteristics correct answers Comparability (consistency helps achieve comparability) ...

Intermediate Accounting 1 (Ch.1-5) Accounting & Capital Allocation - correct answer Financial reporting: provides direction to users on capital allocation decisions > Users: investors/creditors > Capital Allocation: how money gets spent Accounting Principles Board (APB) - correct answer standard-setting organization mission was to develop an overall conceptual framework called APB Opinions Accounting Research Bulletins - correct answer 51 bulletins from the Committee on Accountin...

Copyright © 2022 WILEY Kieso, Intermediate Accounting, 18/e, Solutions Manual (For Instructor Use Only) 5-1-1 Complete Solution Manual and Instructor Resource for Intermediate Accounting, 18th Edition 18th Edition, by Donald E. Kieso, Jerry J. Weygandt and Terry D. Warfield. ISBN- Chapter 1 Financial Accounting and Accounting Standards Assignment Classification Table (By Topic) Topics Questions Brief Exercises Exercises Critical Thinking 1. Environment of accounting, principles, objectives, sta...