CHAPTER 2 CONCEPTUAL FRAMEWORK UNDERLYING FINANCIAL ACCOUNTING IFRS questions are available at the end of this chapter. TRUe-FALSe—Conceptual Answer No. Description F 1. Nature of conceptual framework. T 2. Conceptual framework definition. F 3. Levels of conceptual framework. T 4 International conceptual framework. F 5. Statements of Financial Accounting Concepts. T 6. Decision usefulness.Objective of financial reporting. F 7. Financial statement users. T 8. Relevance and
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Background of the Case The Centers for Disease Control issued a recommendation on June 29‚ 2006 that a new vaccine for the human papillomavirus be given to girls around the age of eleven to twelve to prevent this disease that was affecting nearly half of the United States population. The HPV vaccination was said to be most effective before there was any sexual activity with the girl‚ and that it would prevent about 75 percent of the 27‚900 cases of cervical‚ vulvar‚ vaginal‚ anal‚ penile‚ and head
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on your division ’s net income targets that you must meet. This year that target is $1.5 million. You are authorized to sign off on any decision made within your division. You are faced with the following situation: On November 15‚ your division of the company ordered $150‚000 worth of supplies in anticipation for the seasonal rush. Most of these supplies will be used by year-end. These supplies were delivered on November 30. If you record this expense this year‚ your net income will be $1.45
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deontology is‚ how the school of thought views stem cell research‚ and how deontology provides adequate guidance action for stem cell research. The deontological theory contends that right and wrong are determined by the consequences of an action. Deontologists do not negate that consequences are significant but they believe there are more relevant aspects to the moral duty of the action. Deontology mainly focuses on Immanuel Kant and W.D. Ross. Kant based his view on moral principles that define between
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http://www.internetevolution.com/author.asp?section_id=526&doc_id=144810 Whitt‚ R.‚ & Counsel‚ W. T. (2010‚ 8 12). Google Public Policy Blog. Retrieved 12 5‚ 2010‚ from Google Public Policy Blog: http://googlepublicpolicy.blogspot.com/search/label/Net%20Neutrality
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theories of morality that aim to create criteria for an action’s moral value. Kantian Deontology is a one of those theories. This theory values an action‚ not based on the happiness or pleasure derived from it‚ but the will behind it. Kantian Deontologists do not value happiness and pleasure as intrinsically good because there is nothing good other than a good will- since good will is the motive to act for moral duty. Although Kantian Deontology is logical because it states that reason reveal good
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and state the historical significance of the following: 14. London Economic Conference 15. Good Neighbor policy 16. Reciprocal Trade Agreement Act 17. Nazi party 18. Rome-Berlin axis 19. invasion of Ethiopia 20. “merchants of death” 21. Neutrality Acts 22. Spanish Civil War 23. "China incident" 24. “Quarantine Speech” 25. the Holocaust 26. Kristallnacht 27. Munich conference 28. Nazi-Soviet Pact 29. “cash-and-carry” 30. “phony war” 31. Committee to Defend America by Aiding the Allies
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Relevance is affected by the materiality of information contained in the financial statements because only material information influences the economic decisions of its users. Example: A default by a customer who owes $1000 to a company having net assets of worth $10 million is not relevant to the decision making needs of users of the financial statements. However‚ if the amount of default is‚ say‚ $2 million‚ the information becomes relevant to the users as it may affect their view regarding
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Matthew Bojanowski Dr. James Delaney PHI 206 Assignment #4 Ernest Van den Haag strongly contends the need for capital punishment in our society in his article. Van den Haag provides a substantial amount of convincing facts and information to support “The Ultimate Punishment”. Van den Haag discusses such topics as maldistribution‚ deterrence to society‚ miscarriages of the penalty‚ and incidental and political issues (cost‚ relative suffering‚ and brutalization). The death penalty is indeed
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Chapter 2 Conceptual Framework for Financial Reporting · 2–1 CHAPTER 2 CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING This IFRS Supplement provides expanded discussions of accounting guidance under International Financial Reporting Standards (IFRS) for the topics in Intermediate Accounting. The discussions are organized according to the chapters in Intermediate Accounting (13th or 14th Editions) and therefore can be used to supplement the U.S. GAAP requirements as presented in the
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