Solution Manual Accounting What The Numbers Mean 13th Edition by David Marshall All Chapters 1 - 16  

Solution Manual

Accounting What The Numbers Mean

13th Edition by David Marshall
All Chapters 1 - 16

,CHAPTER

1
Accounting—Present and Past gc gc




CHAPTERgcOUTLINE:

I. WhatgcIsgcAccounting?
A. Definition
B. UsesgcofgcAccountinggcInformation
C. Classifications
1. FinancialgcAccounting
2. ManagerialgcAccountinggc/gcCostgcAccounting
3. Auditinggc—gcPublicgcAccounting
4. InternalgcAuditing
5. GovernmentalgcandgcNot-for-ProfitgcAccounting
6. IncomegcTaxgcAccounting

II. HowgcHasgcAccountinggcDeveloped?
A. EarlygcHistory
B. ThegcAccountinggcProfessiongcingcthegcUnitedgcStates
C. FinancialgcAccountinggcStandardgcSettinggcatgcthegcPresentgcTime
1. FinancialgcAccountinggcStandardsgcBoard
2. StandardsgcaregcEvolving
D. StandardsgcforgcOthergcTypesgcofgcAccounting
1. ManagerialgcAccountinggc/gcCostgcAccounting
2. Auditing
3. GovernmentalgcandgcNot-for-ProfitgcAccounting
4. IncomegcTaxgcAccounting
E. InternationalgcAccountinggcStandards
F. EthicsgcandgcthegcAccountinggcProfession

III. ThegcConceptualgcFramework
A. Context
B. SummarygcofgcConceptsgcStatementgcNo.gc8,gcChaptergc1gc—
gcThegcObjectivegcofgcGeneralgcPurposegF
c inancialgcReporting

C. ObjectivesgcofgcFinancialgcReportinggcforgcNonbusinessgcOrganizations

IV. PlangcofgcthegcBook

,TEACHING/LEARNINGgcOBJECTIVES:

Principal:

1. Togcpresentgcagcdefinitiongcofgcaccounting.

2. Togcidentifygcandgcdescribegcdifferentgcclassificationsgcofgcaccounting.

3. Togcemphasizegcthatgc financialgcaccountinggcstandardsgcaregcnotgcagc―fixedgccodegcofgcrul
es,‖gcbutgcaregcestablishedgcingcresponsegctogcusergcneedsgcandgcbusinessgcdevelopment
s.gcAccountantsgcneedgctogcapplygp c rofessionalgcjudgmentgc ingcthegcapplicationgcofgcacco

untinggcprinciples.

4. Togcemphasizegcthegcrolegcandgcsourcesgcofgcethicsgcforgcthegcaccountinggcprofession.

Supporting:

5. Togcsummarizegchowgcaccountinggchasgcevolvedgcovergctime.

6. Togcidentifygcsourcesgcofgcstandardsgcforgcothergctypesgcofgcaccountinggcandgctogcco
ntrastgcthesegcwithgfc inancialgcaccountinggcstandards.

7. Togcintroducegcthegcissuesgcassociatedgcwithgcthegcdevelopmentgcofgcinternation
algcaccountinggsc tandards.

8. TogcdescribegcthegccontextgcofgcthegcFASBgcConceptualgcFrameworkgcproject.

9. TogcsummarizegcConceptsgcStatementgcNo.gc8,gcChaptergc1gc—
gcThegcObjectivegcofgcGeneralgcPurposegF
c inancialgcReporting.




10. Togcrelategcthegcobjectivesgcofgcfinancialgcreportinggcforgcnonbusinessgcorganizatio
nsgctogcthosegcofgb
c usinessgcenterprises.




TEACHINGgcOBSERVATIONS/ASSIGNMENTgcSUGGESTIONS:

1. Studentsgcshouldgcbegcputgcongcnoticegcaboutgcthegcjargongcofgcaccounting,gcthegcusegco
fgcsynonymousgcterms,gcthegcimportancegcofgcthegccontextgcwithingcwhichgcagctermgcisgcu
sed,gcandgcthegcneedgcforgcprecisiongicngcthegcusegcofgcterminology.gcThegcfirstgcexamplegc
ofgcjargongcisgcthegctermgcentity.

, 2. Whengcdiscussinggc"Auditinggc—
gcPublicgcAccounting,"gchavegcstudentsgcfindgcthegcauditors'gcopiniongicngcthegcCampbellg

cSoupgcCompanygc2020gcAnnualgcReportgc(seegcpagesgc87-

88gcofgcthegcAppendix).gcEmphasizegcthatgcagc"cleangcopinion"gcisgcnotgcagc"cleangcbillgcof
gchealth."




3. DiscussgcthegcSummarygcofgcConceptsgcStatementgcNo.gc8,gcChaptergc1gc—
gcThegcObjectivegcofgcFinancialgR
c eporting,gc ingcdetail.