Intermediate Accounting Chapter 1
CHAPTER 1
Financial Accounting and Accounting Standards
ASSIGNMENT CLASSIFICATION TABLE
Topics 1. 2. 3. 4. 5. Subject matter of accounting. Environment of accounting. Role of principles, objectives, standards, and accounting theory. Historical development of GAAP. Authoritative pronouncements and rulemaking bodies. Role of pressure groups. Ethical issues. Questions 1 2, 3, 29 4, 5, 6, 7 8, 9, 10, 11 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23 23, 24, 25, 26, 27, 28 30 Cases 4 6, 7 1, 2, 3, 5 8 3, 9, 11, 12, 13, 14, 16, 17 10, 19, 20 15, 18
6. 7.
Copyright © 2011 John Wiley & Sons, Inc.
Kieso, Intermediate Accounting, 14/e, Solutions Manual
(For Instructor Use Only)
1-1
ASSIGNMENT CHARACTERISTICS TABLE
Level of Difficulty Simple Simple Simple Simple Moderate Simple Simple Simple Simple Complex Simple Moderate Simple Simple Complex Moderate Moderate Moderate Moderate Moderate Time (minutes) 15–20 15–20 15–20 15–20 20–25 10–15 15–20 20–25 20–25 30–40 15–20 30–40 15–20 10–15 20–25 30–40 25–35 25–35 25–35 25–35
Item CA1-1 CA1-2 CA1-3 CA1-4 CA1-5 CA1-6 CA1-7 CA1-8 CA1-9 CA1-10 CA1-11 CA1-12 CA1-13 CA1-14 CA1-15 CA1-16 CA1-17 CA1-18 CA1-19 CA1-20
Description FASB and standard-setting. GAAP and standard-setting. Financial reporting and accounting standards. Financial accounting. Objective of financial reporting. Accounting numbers and the environment. Need for GAAP. AICPA’s role in rule-making. FASB role in rule-making. Politicalization of GAAP. Models for setting GAAP. GAAP terminology. Accounting organizations and documents issued. Accounting pronouncements. Rule-making Issues. Securities and Exchange Commission. Rule-making process. Financial reporting pressures. Economic consequences. GAAP and economic consequences.
1-2
Copyright © 2011 John Wiley & Sons, Inc.
Kieso, Intermediate Accounting, 14/e, Solutions Manual
(For Instructor Use Only)
SOLUTIONS TO CODIFICATION EXERCISES
CE1-1
There is no answer to this requirement as it asks the student to
Financial Accounting and Accounting Standards
ASSIGNMENT CLASSIFICATION TABLE
Topics 1. 2. 3. 4. 5. Subject matter of accounting. Environment of accounting. Role of principles, objectives, standards, and accounting theory. Historical development of GAAP. Authoritative pronouncements and rulemaking bodies. Role of pressure groups. Ethical issues. Questions 1 2, 3, 29 4, 5, 6, 7 8, 9, 10, 11 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23 23, 24, 25, 26, 27, 28 30 Cases 4 6, 7 1, 2, 3, 5 8 3, 9, 11, 12, 13, 14, 16, 17 10, 19, 20 15, 18
6. 7.
Copyright © 2011 John Wiley & Sons, Inc.
Kieso, Intermediate Accounting, 14/e, Solutions Manual
(For Instructor Use Only)
1-1
ASSIGNMENT CHARACTERISTICS TABLE
Level of Difficulty Simple Simple Simple Simple Moderate Simple Simple Simple Simple Complex Simple Moderate Simple Simple Complex Moderate Moderate Moderate Moderate Moderate Time (minutes) 15–20 15–20 15–20 15–20 20–25 10–15 15–20 20–25 20–25 30–40 15–20 30–40 15–20 10–15 20–25 30–40 25–35 25–35 25–35 25–35
Item CA1-1 CA1-2 CA1-3 CA1-4 CA1-5 CA1-6 CA1-7 CA1-8 CA1-9 CA1-10 CA1-11 CA1-12 CA1-13 CA1-14 CA1-15 CA1-16 CA1-17 CA1-18 CA1-19 CA1-20
Description FASB and standard-setting. GAAP and standard-setting. Financial reporting and accounting standards. Financial accounting. Objective of financial reporting. Accounting numbers and the environment. Need for GAAP. AICPA’s role in rule-making. FASB role in rule-making. Politicalization of GAAP. Models for setting GAAP. GAAP terminology. Accounting organizations and documents issued. Accounting pronouncements. Rule-making Issues. Securities and Exchange Commission. Rule-making process. Financial reporting pressures. Economic consequences. GAAP and economic consequences.
1-2
Copyright © 2011 John Wiley & Sons, Inc.
Kieso, Intermediate Accounting, 14/e, Solutions Manual
(For Instructor Use Only)
SOLUTIONS TO CODIFICATION EXERCISES
CE1-1
There is no answer to this requirement as it asks the student to