Solution Manual
Accounting What The Numbers Mean
13th Edition by David Marshall
All Chapters 1-16 complete
,CHAPTER
1
Accounting—Present and Past e e
CHAPTEReOUTLINE:
I. WhateIseAccounting?
A. Definition
B. UseseofeAccountingeInformation
C. Classifications
1. FinancialeAccounting
2. ManagerialeAccountinge/eCosteAccounting
3. Auditinge—ePubliceAccounting
4. InternaleAuditing
5. GovernmentaleandeNot-for-ProfiteAccounting
6. IncomeeTaxeAccounting
II. HoweHaseAccountingeDeveloped?
A. EarlyeHistory
B. TheeAccountingeProfessioneinetheeUnitedeStates
C. FinancialeAccountingeStandardeSettingeatetheePresenteTime
1. FinancialeAccountingeStandardseBoard
2. StandardseareeEvolving
D. StandardseforeOthereTypeseofeAccounting
1. ManagerialeAccountinge/eCosteAccounting
2. Auditing
3. GovernmentaleandeNot-for-ProfiteAccounting
4. IncomeeTaxeAccounting
E. InternationaleAccountingeStandards
F. EthicseandetheeAccountingeProfession
III. TheeConceptualeFramework
A. Context
B. SummaryeofeConceptseStatementeNo.e8,eChaptere1e—
eTheeObjectivee ofeGeneral ePurposeeFinancialeReporting
C. ObjectiveseofeFinancialeReportingeforeNonbusinesseOrganizations
IV. PlaneofetheeBook
,TEACHING/LEARNINGeOBJECTIVES:
Principal:
1. Toepresenteaedefinitioneofeaccounting.
2. Toeidentifyeandedescribeedifferente classificationseofeaccounting.
3. Toeemphasizeethatefinancialeaccountingestandardseareenote ae―fixedecodeeoferules,‖ebute
areeestablishedeineresponseetoeusereneedseandebusinessedevelopments.eAccountantsen
eedetoeapplyeprofessionalejudgmente inetheeapplicationeofeaccountingeprinciples.
4. Toeemphasizeetheeroleeandesourceseofeethicseforetheeaccountingeprofession.
Supporting:
5. Toesummarizeehoweaccountingehaseevolvedeoveretime.
6. Toeidentifyesourceseofestandardseforeotheretypeseofeaccountingeandetoecontrastethe
seewithefinancialeaccountingestandards.
7. Toeintroduceetheeissueseassociatedewithetheedevelopmenteofeinternationaleacc
ountingestandards.
8. ToedescribeetheecontexteofetheeFASBeConceptualeFrameworkeproject.
9. ToesummarizeeConceptseStatementeNo.e8,eChaptere1e—
eTheeObjectiveeofeGeneralePurposeeFinancialeReporting.
10. Toerelateetheeobjectiveseofefinancialereportingeforenonbusinesseorganizationsetoet
hoseeofebusinesseenterprises.
TEACHINGeOBSERVATIONS/ASSIGNMENTeSUGGESTIONS:
1. Studentseshouldebeeputeonenoticeeaboutetheejargoneofeaccounting,etheeuseeofesynony
mouseterms,etheeimportanceeofetheecontextewithinewhicheaetermeiseused,eandetheeneed
inetheeuseeofeterminology.eTheefirsteexampleeofejargoneisetheetermeentity.
eforeprecisione
2. Whenediscussinge"Auditinge—
, PubliceAccounting,"ehaveestudentsefindetheeauditors'eopinioneinetheeCampbelleSoupeC
e
ompanye2020eAnnualeReporte(seeepagese87-
88eofetheeAppendix).eEmphasizeethateae"cleaneopinion"eisenoteae"cleanebilleofehealth."
3. DiscussetheeSummaryeofeConceptseStatementeNo.e8,eChaptere1e—
eTheeObjectiveeofeFinanciale
Reporting,e inedetail.
Accounting What The Numbers Mean
13th Edition by David Marshall
All Chapters 1-16 complete
,CHAPTER
1
Accounting—Present and Past e e
CHAPTEReOUTLINE:
I. WhateIseAccounting?
A. Definition
B. UseseofeAccountingeInformation
C. Classifications
1. FinancialeAccounting
2. ManagerialeAccountinge/eCosteAccounting
3. Auditinge—ePubliceAccounting
4. InternaleAuditing
5. GovernmentaleandeNot-for-ProfiteAccounting
6. IncomeeTaxeAccounting
II. HoweHaseAccountingeDeveloped?
A. EarlyeHistory
B. TheeAccountingeProfessioneinetheeUnitedeStates
C. FinancialeAccountingeStandardeSettingeatetheePresenteTime
1. FinancialeAccountingeStandardseBoard
2. StandardseareeEvolving
D. StandardseforeOthereTypeseofeAccounting
1. ManagerialeAccountinge/eCosteAccounting
2. Auditing
3. GovernmentaleandeNot-for-ProfiteAccounting
4. IncomeeTaxeAccounting
E. InternationaleAccountingeStandards
F. EthicseandetheeAccountingeProfession
III. TheeConceptualeFramework
A. Context
B. SummaryeofeConceptseStatementeNo.e8,eChaptere1e—
eTheeObjectivee ofeGeneral ePurposeeFinancialeReporting
C. ObjectiveseofeFinancialeReportingeforeNonbusinesseOrganizations
IV. PlaneofetheeBook
,TEACHING/LEARNINGeOBJECTIVES:
Principal:
1. Toepresenteaedefinitioneofeaccounting.
2. Toeidentifyeandedescribeedifferente classificationseofeaccounting.
3. Toeemphasizeethatefinancialeaccountingestandardseareenote ae―fixedecodeeoferules,‖ebute
areeestablishedeineresponseetoeusereneedseandebusinessedevelopments.eAccountantsen
eedetoeapplyeprofessionalejudgmente inetheeapplicationeofeaccountingeprinciples.
4. Toeemphasizeetheeroleeandesourceseofeethicseforetheeaccountingeprofession.
Supporting:
5. Toesummarizeehoweaccountingehaseevolvedeoveretime.
6. Toeidentifyesourceseofestandardseforeotheretypeseofeaccountingeandetoecontrastethe
seewithefinancialeaccountingestandards.
7. Toeintroduceetheeissueseassociatedewithetheedevelopmenteofeinternationaleacc
ountingestandards.
8. ToedescribeetheecontexteofetheeFASBeConceptualeFrameworkeproject.
9. ToesummarizeeConceptseStatementeNo.e8,eChaptere1e—
eTheeObjectiveeofeGeneralePurposeeFinancialeReporting.
10. Toerelateetheeobjectiveseofefinancialereportingeforenonbusinesseorganizationsetoet
hoseeofebusinesseenterprises.
TEACHINGeOBSERVATIONS/ASSIGNMENTeSUGGESTIONS:
1. Studentseshouldebeeputeonenoticeeaboutetheejargoneofeaccounting,etheeuseeofesynony
mouseterms,etheeimportanceeofetheecontextewithinewhicheaetermeiseused,eandetheeneed
inetheeuseeofeterminology.eTheefirsteexampleeofejargoneisetheetermeentity.
eforeprecisione
2. Whenediscussinge"Auditinge—
, PubliceAccounting,"ehaveestudentsefindetheeauditors'eopinioneinetheeCampbelleSoupeC
e
ompanye2020eAnnualeReporte(seeepagese87-
88eofetheeAppendix).eEmphasizeethateae"cleaneopinion"eisenoteae"cleanebilleofehealth."
3. DiscussetheeSummaryeofeConceptseStatementeNo.e8,eChaptere1e—
eTheeObjectiveeofeFinanciale
Reporting,e inedetail.
