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

Solution Manual x




Accounting What The Numbers Mean
x x x x




13th Edition by David Marshall
x x x x




All Chapters 1 - 16
x x x x x

,CHAPTER

1
Accounting—Present and Past x x




CHAPTER xOUTLINE:

I. What xIs xAccounting?
A. Definition
B. Uses xof xAccounting xInformation
C. Classifications
1. Financial xAccounting
2. Managerial xAccounting x/ xCost xAccounting
3. Auditing x— xPublic xAccounting
4. Internal xAuditing
5. Governmental xand xNot-for-Profit xAccounting
6. Income xTax xAccounting

II. How xHas xAccounting xDeveloped?
A. Early xHistory
B. The xAccounting xProfession xin xthe xUnited xStates
C. Financial xAccounting xStandard xSetting xat xthe xPresent xTime
1. Financial xAccounting xStandards xBoard
2. Standards xare xEvolving
D. Standards xfor xOther xTypes xof xAccounting
1. Managerial xAccounting x/ xCost xAccounting
2. Auditing
3. Governmental xand xNot-for-Profit xAccounting
4. Income xTax xAccounting
E. International xAccounting xStandards
F. Ethics xand xthe xAccounting xProfession

III. The xConceptual xFramework
A. Context
B. Summary xof xConcepts xStatement xNo. x8, xChapter x1 x— xThe xObjective xof
xGeneral xPurposexFinancial xReporting

C. Objectives xof xFinancial xReporting xfor xNonbusiness xOrganizations

IV. Plan xof xthe xBook

,TEACHING/LEARNING xOBJECTIVES:

Principal:

1. To xpresent xa xdefinition xof xaccounting.

2. To xidentify xand xdescribe xdifferent x classifications xof xaccounting.

3. To xemphasize xthat xfinancial xaccounting xstandards xare xnot x a x―fixed xcode xof
xrules,‖ xbut x are xestablished xin xresponse xto xuser xneeds xand xbusiness


xdevelopments. xAccountants xneed xto xapplyxprofessional xjudgment x in xthe


xapplication x of xaccounting xprinciples.




4. To xemphasize xthe xrole xand xsources xof xethics xfor xthe xaccounting xprofession.

Supporting:

5. To xsummarize xhow xaccounting xhas xevolved xover xtime.

6. To xidentify xsources xof xstandards xfor xother xtypes xof xaccounting xand xto
xcontrast xthese xwithxfinancial xaccounting xstandards.




7. To xintroduce xthe xissues xassociated xwith xthe xdevelopment xof xinternational
xaccountingxstandards.




8. To xdescribe xthe xcontext xof xthe xFASB xConceptual xFramework xproject.

9. To xsummarize xConcepts xStatement xNo. x8, xChapter x1 x— xThe xObjective xof
xGeneral xPurposexFinancial xReporting.




10. To xrelate xthe xobjectives xof xfinancial xreporting xfor xnonbusiness xorganizations
xto xthose xofxbusiness xenterprises.




TEACHING xOBSERVATIONS/ASSIGNMENT xSUGGESTIONS:

1. Students xshould xbe xput xon xnotice xabout xthe xjargon xof xaccounting, xthe xuse xof
xsynonymous xterms, xthe ximportance xof xthe xcontext xwithin xwhich xa xterm xis xused,


xand xthe xneed xfor xprecisionxin xthe xuse xof xterminology. x The x first x example xof


xjargon xis xthe xterm xentity.

, 2. When xdiscussing x"Auditing x— xPublic xAccounting," xhave xstudents xfind xthe
xauditors' xopinionxin xthe xCampbell xSoup xCompany x2020 xAnnual xReport x(see


xpages x87-88 xof xthe xAppendix). xEmphasize xthat x a x"clean xopinion" x is x not xa


x"clean xbill xof xhealth."




3. Discuss xthe xSummary xof xConcepts xStatement xNo. x8, xChapter x1 x— xThe xObjective
xof xFinancialxReporting, x in xdetail.