Solutions Manual for Accounting Principles, 8th Canadian Edition (Volume 2) by Weygandt, Kieso, Kimmel, Trenholm, Warren & Novak – Complete Chapters 11–18 with Answers

Solutions Manual Accounting Principles 8th Canadian Edition
(Volume 2) Jerry Weygandt, Donald Kieso, Paul Kimmel, Barbara
Trenholm, ValerieWarren, Lori Novak

CHAPTER 11

Financial Reporting Concepts


Learning Objectives

1. Explain the importance of having a conceptual framework of
accounting, and list the key components.
2. Explain the objective of financial reporting, and define the
elements of the financial statements.
3. Apply the fundamental and enhancing qualitative
characteristics of the conceptual framework to financial
reporting situations.
4. Apply the recognition and measurement criteria of the
conceptual framework to financial reporting situations.
5. Apply the foundational concepts, assumptions, and
constraints of the conceptual framework to financial reporting
situations.




Solutions Manual 11.1 Chapter 11
.

, Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Eighth Canadian Edition




Summary of Questions by Learning Objectives and Bloom’s Taxonomy

Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT
Questions
1. 1 C 6. 3 C 11. 3,4 C 16. 4 AN 21. 3,5 C
2. 2 K 7. 3 K 12. 4 C 17. 4 K 22. 5 C
3. 2 C 8. 3 C 13. 4 K 18. 4 C 23. 5 C
4. 2 K 9. 3 C 14. 4 K 19. 4 AN 24. 5 C
5. 3 K 10. 3 K 15. 4 AN 20. 2,5 C
Brief Exercises
1. 1 AP 5. 4 AP 9. 4 AP 13. 4 AP 17. 5 C
2. 2 AP 6. 4 AP 10. 4 AP 14. 4,5 C
3. 3 AP 7. 4 AP 11. 4 AP 15. 5 C
4. 4 AP 8. 4 AP 12. 4 AP 16. 5 C
Exercises
1. 2 C 4. 4 AP 7. 4 C 10. 4 AP 13. 4,5 C
2. 3 C 5. 4 K 8. 4 AP 11. 1,5 C 14. 4,5 AP
3. 3 AP 6. 4,5 AN 9. 4 AP 12. 2,4,5 AP
Problems
1. 1,2,3,4,5 AP 3. 4 AP 5. 4 AP 7. 4 AP 9. 5 AP
2. 2,3,4 AP 4. 2,4 AP 6. 4 AP 8. 2,3,4,5 AN




Solutions Manual 11.2 Chapter 11
.

,Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Eighth Canadian Edition




Summary of Legend: The following abbreviations will appear throughout
the solutions manual file.

LO Learning objective
Bloom's
BT Taxonomy
K Knowledge
C Comprehension
AP Application
AN Analysis
S Synthesis
E Evaluation
Difficulty: Level of difficulty
S Simple
M Moderate
C Complex
Time: Estimated time to complete in minutes
AACSB Association to Advance Collegiate Schools of Business
Communication Communication
Ethics Ethics
Analytic Analytic
Tech. Technology
Diversity Diversity
Reflec. Thinking Reflective Thinking
CPA CM CPA Canada Competency Map
Ethics Professional and Ethical Behaviour
PS and DM Problem-Solving and Decision-Making
Comm. Communication
Self-Mgt. Self-Management
Team & Lead Teamwork and Leadership
Reporting Financial Reporting
Stat. & Gov. Strategy and Governance
Mgt. Accounting Management Accounting
Audit Audit and Assurance
Finance Finance
Tax Taxation




Solutions Manual 11.3 Chapter 11
.

, Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Eighth Canadian Edition




ASSIGNMENT CLASSIFICATION TABLE
Brief Problems Problems
Learning Objectives Questions Exercises Exercises Set A Set B

1. Explain the 1 1 9 1 1
importance of having a
conceptual framework
of accounting, and list
the key components.

2. Explain the objective 2, 3, 4, 2 1, 10 1, 2, 4, 7 1, 2, 4, 7
of financial reporting, 20
and define the
elements of the
financial statements.

3. Apply the fundamental 5, 6, 7, 8, 3 2, 3, 1, 2, 7 1, 2, 7
and enhancing 9, 10, 11,
qualitative 21
characteristics of the
conceptual framework
to financial reporting
situations.

4. Apply the recognition 11, 12, 4, 5, 6, 7, 4, 5, 6, 7, 1, 2, 3, 4, 1, 2, 3, 4,
and measurement 13, 14, 8, 9, 10, 8, 9, 10, 5, 6, 7, 8 5, 6, 7, 8
criteria of the 15, 16, 11, 12, 11, 13,
conceptual framework 17, 18, 13, 14 14
to financial reporting 19,
situations.

5. Apply the foundational 20, 21, 14, 15, 6, 11, 12, 1, 8, 9 1, 8, 9
concepts, 22, 23, 16, 17 13, 14
assumptions, and 24
constraints of the
conceptual framework
to financial reporting
situations.




Solutions Manual 11.4 Chapter 11
.