Solution Manual
Accounting What The Numbers Mean
13th Edition by David Marshall
All Chapters 1 - 16
,CHAPTER
1
Accounting—Present and Past 8 8
CHAPTER8OUTLINE:
I. What8Is8Accounting?
A. Definition
B. Uses8of8Accounting8Information
C. Classifications
1. Financial8Accounting
2. Managerial8Accounting8/8Cost8Accounting
3. Auditing8—8Public8Accounting
4. Internal8Auditing
5. Governmental8and8Not-for-Profit8Accounting
6. Income8Tax8Accounting
II. How8Has8Accounting8Developed?
A. Early8History
B. The8Accounting8Profession8in8the8United8States
C. Financial8Accounting8Standard8Setting8at8the8Present8Time
1. Financial8Accounting8Standards8Board
2. Standards8are8Evolving
D. Standards8for8Other8Types8of8Accounting
1. Managerial8Accounting8/8Cost8Accounting
2. Auditing
3. Governmental8and8Not-for-Profit8Accounting
4. Income8Tax8Accounting
E. International8Accounting8Standards
F. Ethics8and8the8Accounting8Profession
III. The8Conceptual8Framework
A. Context
B. Summary8of8Concepts8Statement8 No.88,8Chapter818 —
8The8Objective8of8General8Purpose8Financial8Reporting
C. Objectives8of8Financial8Reporting8for8Nonbusiness8Organizations
IV. Plan8of8the8Book
,TEACHING/LEARNING8OBJECTIVES:
Principal:
1. To8present8a8definition8of8accounting.
2. To8identify8and8describe8different8 classifications8of8accounting.
3. To8emphasize8that8 financial8accounting8standards8are8not8 a8―fixed8code8of8rules,‖8bu
t8 are8established8in8response8to8user8needs8and8business8developments.8Accountant
s8need8to8apply8professional8judgment8 in8the8application8of8accounting8principles.
4. To8emphasize8the8role8and8sources8of8ethics8for8the8accounting8profession.
Supporting:
5. To8summarize8how8accounting8has8evolved8over8time.
6. To8identify8sources8of8standards8for8other8types8of8accounting8and8to8contrast8t
hese8with8financial8accounting8standards.
7. To8introduce8the8issues8associated8with8the8development8of8international8ac
counting8standards.
8. To8describe8the8context8of8the8FASB8Conceptual8Framework8project.
9. To8summarize8Concepts8Statement8No.88,8Chapter818—
8The8Objective8of8General8Purpose8Financial8Reporting.
10. To8relate8the8objectives8of8financial8reporting8for8nonbusiness8organizations8to8
those8of8business8enterprises.
TEACHING8OBSERVATIONS/ASSIGNMENT8SUGGESTIONS:
1. Students8should8be8put8on8notice8about8the8jargon8of8accounting,8the8use8of8synon
ymous8terms,8the8importance8of8the8context8within8which8a8term8is8used,8and8the8n
eed8for8precision8in8the8use8of8terminology.8The8 first8 example8of8jargon8is8the8term8
entity.
, 2. When8discussing8"Auditing8—
8Public8Accounting,"8have8students8find8the8auditors'8opinion8in8the8Campbell8Soup8
Company820208Annual8Report8(see8pages887-
888of8the8Appendix).8Emphasize8that8 a8"clean8opinion"8is8not8a8"clean8bill8of8health."
3. Discuss8the8Summary8of8Concepts8Statement8No.88,8Chapter818—
8The8Objective8of8Financial8Reporting,8 in8detail.
Accounting What The Numbers Mean
13th Edition by David Marshall
All Chapters 1 - 16
,CHAPTER
1
Accounting—Present and Past 8 8
CHAPTER8OUTLINE:
I. What8Is8Accounting?
A. Definition
B. Uses8of8Accounting8Information
C. Classifications
1. Financial8Accounting
2. Managerial8Accounting8/8Cost8Accounting
3. Auditing8—8Public8Accounting
4. Internal8Auditing
5. Governmental8and8Not-for-Profit8Accounting
6. Income8Tax8Accounting
II. How8Has8Accounting8Developed?
A. Early8History
B. The8Accounting8Profession8in8the8United8States
C. Financial8Accounting8Standard8Setting8at8the8Present8Time
1. Financial8Accounting8Standards8Board
2. Standards8are8Evolving
D. Standards8for8Other8Types8of8Accounting
1. Managerial8Accounting8/8Cost8Accounting
2. Auditing
3. Governmental8and8Not-for-Profit8Accounting
4. Income8Tax8Accounting
E. International8Accounting8Standards
F. Ethics8and8the8Accounting8Profession
III. The8Conceptual8Framework
A. Context
B. Summary8of8Concepts8Statement8 No.88,8Chapter818 —
8The8Objective8of8General8Purpose8Financial8Reporting
C. Objectives8of8Financial8Reporting8for8Nonbusiness8Organizations
IV. Plan8of8the8Book
,TEACHING/LEARNING8OBJECTIVES:
Principal:
1. To8present8a8definition8of8accounting.
2. To8identify8and8describe8different8 classifications8of8accounting.
3. To8emphasize8that8 financial8accounting8standards8are8not8 a8―fixed8code8of8rules,‖8bu
t8 are8established8in8response8to8user8needs8and8business8developments.8Accountant
s8need8to8apply8professional8judgment8 in8the8application8of8accounting8principles.
4. To8emphasize8the8role8and8sources8of8ethics8for8the8accounting8profession.
Supporting:
5. To8summarize8how8accounting8has8evolved8over8time.
6. To8identify8sources8of8standards8for8other8types8of8accounting8and8to8contrast8t
hese8with8financial8accounting8standards.
7. To8introduce8the8issues8associated8with8the8development8of8international8ac
counting8standards.
8. To8describe8the8context8of8the8FASB8Conceptual8Framework8project.
9. To8summarize8Concepts8Statement8No.88,8Chapter818—
8The8Objective8of8General8Purpose8Financial8Reporting.
10. To8relate8the8objectives8of8financial8reporting8for8nonbusiness8organizations8to8
those8of8business8enterprises.
TEACHING8OBSERVATIONS/ASSIGNMENT8SUGGESTIONS:
1. Students8should8be8put8on8notice8about8the8jargon8of8accounting,8the8use8of8synon
ymous8terms,8the8importance8of8the8context8within8which8a8term8is8used,8and8the8n
eed8for8precision8in8the8use8of8terminology.8The8 first8 example8of8jargon8is8the8term8
entity.
, 2. When8discussing8"Auditing8—
8Public8Accounting,"8have8students8find8the8auditors'8opinion8in8the8Campbell8Soup8
Company820208Annual8Report8(see8pages887-
888of8the8Appendix).8Emphasize8that8 a8"clean8opinion"8is8not8a8"clean8bill8of8health."
3. Discuss8the8Summary8of8Concepts8Statement8No.88,8Chapter818—
8The8Objective8of8Financial8Reporting,8 in8detail.
