Solution Manual
Accounting What The Numbers Mean
13th Edition by David Marshall
All Chapters 1 - 16
,CHAPTER
1
Accounting—Present and Past Z Z
CHAPTERZOUTLINE:
I. WhatZIsZAccounting?
A. Definition
B. UsesZofZAccountingZInformation
C. Classifications
1. FinancialZAccounting
2. ManagerialZAccountingZ/ZCostZAccounting
3. AuditingZ—ZPublicZAccounting
4. InternalZAuditing
5. GovernmentalZandZNot-for-ProfitZAccounting
6. IncomeZTaxZAccounting
II. HowZHasZAccountingZDeveloped?
A. EarlyZHistory
B. TheZAccountingZProfessionZinZtheZUnitedZStates
C. FinancialZAccountingZStandardZSettingZatZtheZPresentZTime
1. FinancialZAccountingZStandardsZBoard
2. StandardsZareZEvolving
D. StandardsZforZOtherZTypesZofZAccounting
1. ManagerialZAccountingZ/ZCostZAccounting
2. Auditing
3. GovernmentalZandZNot-for-ProfitZAccounting
4. IncomeZTaxZAccounting
E. InternationalZAccountingZStandards
F. EthicsZandZtheZAccountingZProfession
III. TheZConceptualZFramework
A. Context
B. SummaryZofZConceptsZStatementZ No.Z8,ZChapterZ1Z —
ZTheZObjectiveZofZGeneralZPurposeZFinancialZReporting
C. ObjectivesZofZFinancialZReportingZforZNonbusinessZOrganizations
IV. PlanZofZtheZBook
,TEACHING/LEARNINGZOBJECTIVES:
Principal:
1. ToZpresentZaZdefinitionZofZaccounting.
2. ToZidentifyZandZdescribeZdifferentZ classificationsZofZaccounting.
3. ToZemphasizeZthatZ financialZaccountingZstandardsZareZnotZ aZ―fixedZcodeZofZrules,‖Zb
utZareZestablishedZinZresponseZtoZuserZneedsZandZbusinessZdevelopments.ZAccounta
ntsZneedZtoZapplyZprofessionalZjudgmentZ inZtheZapplicationZofZaccountingZprinciples.
4. ToZemphasizeZtheZroleZandZsourcesZofZethicsZforZtheZaccountingZprofession.
Supporting:
5. ToZsummarizeZhowZaccountingZhasZevolvedZoverZtime.
6. ToZidentifyZsourcesZofZstandardsZforZotherZtypesZofZaccountingZandZtoZcontrastZt
heseZwithZfinancialZaccountingZstandards.
7. ToZintroduceZtheZissuesZassociatedZwithZtheZdevelopmentZofZinternationalZac
countingZstandards.
8. ToZdescribeZtheZcontextZofZtheZFASBZConceptualZFrameworkZproject.
9. ToZsummarizeZConceptsZStatementZNo.Z8,ZChapterZ1Z—
ZTheZObjectiveZofZGeneralZPurposeZFinancialZReporting.
10. ToZrelateZtheZobjectivesZofZfinancialZreportingZforZnonbusinessZorganizationsZtoZ
thoseZofZbusinessZenterprises.
TEACHINGZOBSERVATIONS/ASSIGNMENTZSUGGESTIONS:
1. StudentsZshouldZbeZputZonZnoticeZaboutZtheZjargonZofZaccounting,ZtheZuseZofZsyno
nymousZterms,ZtheZimportanceZofZtheZcontextZwithinZwhichZaZtermZisZused,ZandZtheZ
needZforZprecisionZinZtheZuseZofZterminology.ZTheZ firstZ exampleZofZjargonZisZtheZter
mZentity.
, 2. WhenZdiscussingZ"AuditingZ—
ZPublicZAccounting,"ZhaveZstudentsZfindZtheZauditors'ZopinionZinZtheZCampbellZSoup
ZCompanyZ2020ZAnnualZReportZ(seeZpagesZ87-
88ZofZtheZAppendix).ZEmphasizeZthatZ aZ"cleanZopinion"ZisZnotZaZ"cleanZbillZofZhealth.
"
3. DiscussZtheZSummaryZofZConceptsZStatementZNo.Z8,ZChapterZ1Z—
ZTheZObjectiveZofZFinancialZReporting,Z inZdetail.
Accounting What The Numbers Mean
13th Edition by David Marshall
All Chapters 1 - 16
,CHAPTER
1
Accounting—Present and Past Z Z
CHAPTERZOUTLINE:
I. WhatZIsZAccounting?
A. Definition
B. UsesZofZAccountingZInformation
C. Classifications
1. FinancialZAccounting
2. ManagerialZAccountingZ/ZCostZAccounting
3. AuditingZ—ZPublicZAccounting
4. InternalZAuditing
5. GovernmentalZandZNot-for-ProfitZAccounting
6. IncomeZTaxZAccounting
II. HowZHasZAccountingZDeveloped?
A. EarlyZHistory
B. TheZAccountingZProfessionZinZtheZUnitedZStates
C. FinancialZAccountingZStandardZSettingZatZtheZPresentZTime
1. FinancialZAccountingZStandardsZBoard
2. StandardsZareZEvolving
D. StandardsZforZOtherZTypesZofZAccounting
1. ManagerialZAccountingZ/ZCostZAccounting
2. Auditing
3. GovernmentalZandZNot-for-ProfitZAccounting
4. IncomeZTaxZAccounting
E. InternationalZAccountingZStandards
F. EthicsZandZtheZAccountingZProfession
III. TheZConceptualZFramework
A. Context
B. SummaryZofZConceptsZStatementZ No.Z8,ZChapterZ1Z —
ZTheZObjectiveZofZGeneralZPurposeZFinancialZReporting
C. ObjectivesZofZFinancialZReportingZforZNonbusinessZOrganizations
IV. PlanZofZtheZBook
,TEACHING/LEARNINGZOBJECTIVES:
Principal:
1. ToZpresentZaZdefinitionZofZaccounting.
2. ToZidentifyZandZdescribeZdifferentZ classificationsZofZaccounting.
3. ToZemphasizeZthatZ financialZaccountingZstandardsZareZnotZ aZ―fixedZcodeZofZrules,‖Zb
utZareZestablishedZinZresponseZtoZuserZneedsZandZbusinessZdevelopments.ZAccounta
ntsZneedZtoZapplyZprofessionalZjudgmentZ inZtheZapplicationZofZaccountingZprinciples.
4. ToZemphasizeZtheZroleZandZsourcesZofZethicsZforZtheZaccountingZprofession.
Supporting:
5. ToZsummarizeZhowZaccountingZhasZevolvedZoverZtime.
6. ToZidentifyZsourcesZofZstandardsZforZotherZtypesZofZaccountingZandZtoZcontrastZt
heseZwithZfinancialZaccountingZstandards.
7. ToZintroduceZtheZissuesZassociatedZwithZtheZdevelopmentZofZinternationalZac
countingZstandards.
8. ToZdescribeZtheZcontextZofZtheZFASBZConceptualZFrameworkZproject.
9. ToZsummarizeZConceptsZStatementZNo.Z8,ZChapterZ1Z—
ZTheZObjectiveZofZGeneralZPurposeZFinancialZReporting.
10. ToZrelateZtheZobjectivesZofZfinancialZreportingZforZnonbusinessZorganizationsZtoZ
thoseZofZbusinessZenterprises.
TEACHINGZOBSERVATIONS/ASSIGNMENTZSUGGESTIONS:
1. StudentsZshouldZbeZputZonZnoticeZaboutZtheZjargonZofZaccounting,ZtheZuseZofZsyno
nymousZterms,ZtheZimportanceZofZtheZcontextZwithinZwhichZaZtermZisZused,ZandZtheZ
needZforZprecisionZinZtheZuseZofZterminology.ZTheZ firstZ exampleZofZjargonZisZtheZter
mZentity.
, 2. WhenZdiscussingZ"AuditingZ—
ZPublicZAccounting,"ZhaveZstudentsZfindZtheZauditors'ZopinionZinZtheZCampbellZSoup
ZCompanyZ2020ZAnnualZReportZ(seeZpagesZ87-
88ZofZtheZAppendix).ZEmphasizeZthatZ aZ"cleanZopinion"ZisZnotZaZ"cleanZbillZofZhealth.
"
3. DiscussZtheZSummaryZofZConceptsZStatementZNo.Z8,ZChapterZ1Z—
ZTheZObjectiveZofZFinancialZReporting,Z inZdetail.
