Solution Manual for Accounting What The Numbers Mean, 13th Edition By David Marshall, Complete Chapters 1 - 16 (Verified by Experts)

Solution Manual

Accounting What The Numbers Mean

13th Edition by David Marshall
All Chapters 1 - 16

,CHAPTER

1
Accounting—Present and Past 12 12




CHAPTER12OUTLINE:

I. What12Is12Accounting?
A. Definition
B. Uses12of12Accounting12Information
C. Classifications
1. Financial12Accounting
2. Managerial12Accounting12/12Cost12Accounting
3. Auditing12—12Public12Accounting
4. Internal12Auditing
5. Governmental12and12Not-for-Profit12Accounting
6. Income12Tax12Accounting

II. How12Has12Accounting12Developed?
A. Early12History
B. The12Accounting12Profession12in12the12United12States
C. Financial12Accounting12Standard12Setting12at12the12Present12Time
1. Financial12Accounting12Standards12Board
2. Standards12are12Evolving
D. Standards12for12Other12Types12of12Accounting
1. Managerial12Accounting12/12Cost12Accounting
2. Auditing
3. Governmental12and12Not-for-Profit12Accounting
4. Income12Tax12Accounting
E. International12Accounting12Standards
F. Ethics12and12the12Accounting12Profession

III. The12Conceptual12Framework
A. Context
B. Summary12of12Concepts12Statement12 No.128,12Chapter12112 —
12The12Objective12of12General12Purpose12Financial12Reporting

C. Objectives12of12Financial12Reporting12for12Nonbusiness12Organizations

IV. Plan12of12the12Book

,TEACHING/LEARNING12OBJECTIVES:

Principal:

1. To12present12a12definition12of12accounting.

2. To12identify12and12describe12different12 classifications12of12accounting.

3. To12emphasize12that12 financial12accounting12standards12are12not12 a12―fixed12code12of12rul
es,‖12but12 are12established12in12response12to12user12needs12and12business12development
s.12Accountants12need12to12apply12professional12judgment12 in12the12application12of12acco
unting12principles.

4. To12emphasize12the12role12and12sources12of12ethics12for12the12accounting12profession.

Supporting:

5. To12summarize12how12accounting12has12evolved12over12time.

6. To12identify12sources12of12standards12for12other12types12of12accounting12and12to12co
ntrast12these12with12financial12accounting12standards.

7. To12introduce12the12issues12associated12with12the12development12of12internation
al12accounting12standards.

8. To12describe12the12context12of12the12FASB12Conceptual12Framework12project.

9. To12summarize12Concepts12Statement12No.128,12Chapter12112—
12The12Objective12of12General12Purpose12Financial12Reporting.




10. To12relate12the12objectives12of12financial12reporting12for12nonbusiness12organizatio
ns12to12those12of12business12enterprises.

TEACHING12OBSERVATIONS/ASSIGNMENT12SUGGESTIONS:

1. Students12should12be12put12on12notice12about12the12jargon12of12accounting,12the12use12
of12synonymous12terms,12the12importance12of12the12context12within12which12a12term12is12
used,12and12the12need12for12precision12in12the12use12of12terminology.12The12 first12 exampl
e12of12jargon12is12the12term12entity.

, 2. When12discussing12"Auditing12—
12Public12Accounting,"12have12students12find12the12auditors'12opinion12in12the12Campbell1

2Soup12Company12202012Annual12Report12(see12pages1287-

8812of12the12Appendix).12Emphasize12that12 a12"clean12opinion"12is12not12a12"clean12bill12o
f12health."

3. Discuss12the12Summary12of12Concepts12Statement12No.128,12Chapter12112—
12The12Objective12of12Financial12Reporting,12 in12detail.