中国高校课件下载中心 》 教学资源 》 大学文库

上海交通大学:《中级财务会计》课程教学资源(PPT课件)复习课件

文档信息
资源类别:文库
文档格式:PPT
文档页数:115
文件大小:2.64MB
团购合买:点击进入团购
内容简介
上海交通大学:《中级财务会计》课程教学资源(PPT课件)复习课件
刷新页面文档预览

Financial Accounting and Accounting Standards DONALD E.KIESO JERRY J.WEYGANDT TERRY D.WARFIELD IIIIII III IITI II Chapter 1 Intermediate Accounting TWELTTI大DITION Intermediate Accounting, 12th Edition Kieso,Weygandt,and Warfield Chapter 1-1

Chapter 1-1 Intermediate Accounting, 12th Edition Kieso, Weygandt, and Warfield

Objectives of Financial Accounting Financial reporting should provide information: (a) that is useful to present and potential investors and creditors and other users in making rational investment, credit,and similar decisions. (b)to help present and potential investors and creditors and other users in assessing the amounts,timing,and uncertainty of prospective cash receipts. (c)about the economic resources of an enterprise,the claims to those resources,and the effects of transactions, events,and circumstances that change its resources and claims to those resources. Chapter 1-2 LO 4 List the objectives of financial reporting

Chapter 1-2

Parties Involved in Standard Setting Four organizations: 。 Securities and Exchange Commission (SEC) American Institute of Certified Public Accountants(AICPA) Financial Accounting Standards Board (FASB) Government Accounting Standards Board (GASB) Chapter LO 6 Identify the major policy-setting bodies and 1-3 their role in the standard-setting process

Chapter 1-3 • Securities and Exchange Commission (SEC) • American Institute of Certified Public Accountants (AICPA) • Financial Accounting Standards Board (FASB) • Government Accounting Standards Board (GASB)

Due Process FASB relies on two basic premises: (1)Responsive to entire economic community (2)Operate in full view of the public Step 1 Topic placed on agenda Step 2 Research conducted and Discussion Memorandum issued. Step 3 Public hearing Financial Step 4 Board evaluates research,public response and Accounting Series issues Exposure Draft Statement of Financial Accounting Step 5 Board evaluates responses and issues final Standards No.115 Statement of Financial Accounting Standard Chapter 1-4 LO 6 Identify the major policy-setting bodies and their role in the standard-setting process

Chapter 1-4 (2) Operate in full view of the public Step 1 = Topic placed on agenda Step 2 = Research conducted and Discussion Memorandum issued. Step 3 = Public hearing Step 4 = Board evaluates research, public response and issues Exposure Draft Step 5 = Board evaluates responses and issues final Statement of Financial Accounting Standard

Types of Pronouncements Issued by the FASB: Standards,Interpretations,and Staff Positions. Financial Accounting Concepts Emerging Issues Task Force Statements Chapter LO 6 Identify the major policy-setting bodies and 1-5 their role in the standard-setting process

Chapter 1-5 Standards, Interpretations, and Staff Positions. Financial Accounting Concepts Emerging Issues Task Force Statements

House of GAAP AICPA Accounting FASB Implementation Recognized Industry Interpretations Guides Practices Category D(Least Authoritative) FASB Emerging Issues Task Force AICPA AcSEC Practice Bulletins Category C FASB Technical AICPA Industry Audit AICPA Statements of Bulletins and Accounting Guides Position Category B FASB Statements, CAP Accounting Interpretations,and APB Opinions Staff Positions Research Bulletins Chapter 1-6 Category A(Most Authoritative) LO7

Chapter 1-6 FASB Technical Bulletins AICPA Industry Audit and Accounting Guides AICPA Statements of Position Category B FASB Emerging Issues Task Force AICPA AcSEC Practice Bulletins Category C AICPA Accounting Interpretations Category D (Least Authoritative) FASB Implementation Guides Recognized Industry Practices

Concepts Underlying Financial Accounting DONALD E.KIESO JERRY J.WEYGANDT TERRY D.WARFIELD I Chapter 2 Intermediate Accounting Intermediate Accounting 12th Edition Kieso,Weygandt,and Warfield Chapter 1-7

Chapter 1-7 Intermediate Accounting 12th Edition Kieso, Weygandt, and Warfield

Conceptual Framework First Level: Second Level: Conceptual Third Level: Basic Fundamental Recognition and Framework Objectives Concepts Measurement 0 Need 0 Qualitative 0 Basic 0 Development characteristics assumptions o Basic elements Basic principles Constraints Chapter 1-8

Chapter 1-8

Development of Conceptual Framework The FASB has issued six Statements of Financial Accounting Concepts(SFAC)for business enterprises. SFAC No.1-Objectives of Financial Reporting SFAC No.2-Qualitative Characteristics of Accounting Information SFAC No.3-Elements of Financial Statements(superceded by SFAC No.6) SFAC No.4-Nonbusiness Organizations SFAC No.5-Recognition and Measurement in Financial Statements SFAC No.6-Elements of Financial Statements(replaces SFAC No.3) SFAC No.7-Using Cash Flow Information and Present Value in Accounting Measurements Chapter 1-9 LO 2 Describe the FASB's efforts to construct a conceptual framework

Chapter 1-9 The FASB has issued six Statements of Financial Accounting Concepts (SFAC) for business enterprises. SFAC No.1 - Objectives of Financial Reporting SFAC No.2 - Qualitative Characteristics of Accounting Information SFAC No.3 - Elements of Financial Statements (superceded by SFAC No. 6) SFAC No.4 - Nonbusiness Organizations SFAC No.5 - Recognition and Measurement in Financial Statements SFAC No.6 - Elements of Financial Statements (replaces SFAC No. 3) SFAC No.7 - Using Cash Flow Information and Present Value in Accounting Measurements

ASSUMPTIONS PRINCIPLES CONSTRAINTS 1.Economic entity 1.Historical cost 1.Cost-benefit 2.Going concern 2.Revenue recognition 2.Materiality Third 3.Monetary unit 3.Matching 3.Industry practice level 4.Periodicity 4.Full disclosure 4.Conservatism QUALITATIVE CHARACTERISTICS ELEMENTS Relevance Assets,Liabilities,and Equity Reliability Investments by owners Distribution to owners Second level Comparability Comprehensive income Revenues and Expenses Consistency Gains and Losses Illustration 2-6 Conceptual OBJECTIVES Framework for 1.Useful in investment Financial and credit decisions 2.Useful in assessing Reporting future cash flows First level 3.About enterprise resources,claims to resources,and changes in them LO 2 Describe the FASB's Chapter efforts to construct a 1-10 conceptual framework

Chapter 1-10 Conceptual Framework for Financial Reporting First level Second level Third level

刷新页面下载完整文档
VIP每日下载上限内不扣除下载券和下载次数;
按次数下载不扣除下载券;
注册用户24小时内重复下载只扣除一次;
顺序:VIP每日次数-->可用次数-->下载券;
相关文档