TAILIEUCHUNG - Lecture Intermediate accounting (Volume 1, IFRS edition): Chapter 2 - Kieso, Weygandt, Warfield

Chapter 2 - Conceptual framework for financial reporting. After completing this chapter you should be able to: Describe the usefulness of a conceptual framework, describe the FASB’s efforts to construct a conceptual framework, understand the objectives of financial reporting, identify the qualitative characteristics of accounting other contents. | C H A P T E R 2 CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield Describe the usefulness of a conceptual framework. Describe efforts to construct a conceptual framework. Understand the objective of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial statements. Describe the basic assumptions of accounting. Explain the application of the basic principles of accounting. Describe the impact that constraints have on reporting accounting information. Learning Objectives Conceptual Framework First Level: Basic Objective Second Level: Fundamental Concepts Third Level: Recognition, Measurement, and Disclosure Concepts Need Development Overview Qualitative characteristics Basic elements Basic assumptions Basic principles Constraints Summary of the structure Conceptual Framework For Financial Reporting Need for a Conceptual Framework Rule-making should build on and relate to an established body of concepts. Enables IASB to issue more useful and consistent pronouncements over time. Conceptual Framework LO 1 Describe the usefulness of a conceptual framework. Conceptual Framework establishes the concepts that underlie financial reporting. Development of a Conceptual Framework IASB and FASB are working on a joint project to develop a common conceptual framework Framework will build on existing IASB and FASB frameworks. Project has identified the objective of financial reporting (Chapter 1) and the qualitative characteristics of decision-useful financial reporting information. Conceptual Framework LO 2 Describe efforts to construct a conceptual framework. Three levels: First Level = Basic objective Second Level = Qualitative characteristics and elements of financial statements Third Level = Recognition, measurement, and disclosure concepts Conceptual Framework LO 2 Describe efforts to construct a conceptual framework. Overview of the .

• Kế toán - Kiểm toán
• Intermediate accounting
• Lecture Intermediate accounting
• Financial accounting
• Financial reporting
• Conceptual framework
• Accounting process
• Accounting equation
• Accounting processing cycle
• Stock issuance
• Estimating reserves
• Liquidating dividends
• Accounting changes
• Error corrections
• Accounting choices
• Theoretical structure
• Accrual accounting
• Financial accounting environment
• Accounting for leases
• Leasing environment
• Accounting by lessee
• Special accounting problems
• Cash versus accrual accounting
• International standard setting
• Accounting standards
• Accounting assists
• The challenges facing accounting
• Income taxes
• Accounting for income taxes
• Deferred tax liabilities
• Error analysis
• Accounting policy
• Accounting estimate
• Accounting policies
• Accounting information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process