TAILIEUCHUNG - Lecture Intermediate accounting (Volume 1, IFRS edition): Chapter 1 - Kieso, Weygandt, Warfield

Chapter 1 - Financial reporting and accounting standards. After completing this chapter you should be able to: Identify the major financial statements and other means of financial reporting; explain how accounting assists in the efficient use of scarce resources, describe some of the challenges facing accounting;. | C H A P T E R 1 FINANCIAL REPORTING AND ACCOUNTING STANDARDS Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield Identify the major financial statements and other means of financial reporting. Explain how accounting assists in the efficient use of scarce resources. Explain the need for high-quality standards. Identify the objective of financial reporting. Identify the major policy-setting bodies and their role in the standard-setting process. Explain the meaning of IFRS. Describe the challenges facing financial reporting. Learning Objectives General-purpose financial statements Capital providers Entity perspective Decision-usefulness Global Markets Objective of Financial Reporting Standard-Setting Organizations Financial Reporting Challenges Financial statements and financial reporting Accounting and capital allocation High-quality standards IOSCO IASB Hierarchy of IFRS Political environment Expectations gap Significant financial reporting issues Ethics International convergence Financial Reporting and Accounting Standards Global Markets World markets are becoming increasingly intertwined. Top 20 Global Companies In Terms Of Sales Global Markets Significant number of foreign companies are found on national exchanges. Illustration 1-2 International Exchange Statistics LO 1 Identify the major financial statements and other means of financial reporting. Global Markets Financial Statements and Financial Reporting Characteristics of accounting are: the identification, measurement, and communication of financial information about economic entities to interested parties. Financial Information Accounting? Identify and Measure and Communicate Statement of Financial Position Income Statement or Statement of Comprehensive Income Statement of Cash Flows Statement of Changes in Equity Note Disclosures President’s letter Prospectuses Reports filed with governmental agencies News releases Forecasts Environmental impact statements Etc. Financial Statements .

• Kế toán - Kiểm toán
• Financial accounting
• Accounting standards
• Accounting assists
• The challenges facing accounting
• Intermediate accounting
• Lecture Intermediate accounting
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Financial reporting
• Financial Accounting Standards Board
• Fundamental financial accounting
• Lecture Fundamental financial accounting concepts
• Financial statement
• Accounting cycle
• Accounting for accruals
• Lecture Financial accounting
• Accounting system
• Accounting activities
• Financial accounting practice
• Accounting information system
• Accounting terminology
• Reporting financial results
• Evaluating liquidity
• Business firms
• The financial reporting reform
• Accounting information
• Management accounting
• Accounting equation
• Accounting systems
• Decision making
• External financial reporting
• Accounting for business
• Lecture Accounting for business
• Financial accounting reports
• Statement of financial performance
• Accrual accounting systems
• Statement of financial position
• Mastering financial accounting essentials
• Financial accounting essentials
• Accrual accounting
• Income statement
• Accounting conventions
• Internal control
• Accounting for cash
• Accounting for receivables
• Computing uncollectible accounts expense
• Long term debt
• Accounting for long term debt
• Paper F3
• Revision kit 2016
• Accounting Financial
• Accounting Financial Review
• Financial Review accounting exam
• Study text 2016
• Language of business
• Double entry accounting system
• Credit terminology
• Merchandising businesses
• Accounting for merchandising businesses
• Accounting for inventories
• Cash discounts
• The accounting cycle
• International financial reporting standards
• Completing the accounting cycle
• Accounting worksheet
• Classified balance sheet