涉外财务会计.pptVIP

Financial Accounting and Accounting Standards Chapter 1 Chapter 1 Learning Objectives 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. List the objectives of financial reporting. Explain the need for accounting standards. Identify the major policy-setting bodies and their role in the standard-setting process. Explain the meaning of generally accepted accounting principles. Describe the impact of user groups on the standard-setting process. Understand issues related to ethics and financial accounting. Characteristics of Accounting Characteristics of Accounting Characteristics of Accounting What is the purpose of information presented in notes to the financial statements? Accounting and Capital Allocation Accounting and Capital Allocation An effective process of capital allocation is critical to a healthy economy, which Challenges Facing Financial Accounting Objectives of Financial Accounting Financial reporting should provide information: Objectives of Financial Accounting All of the following are objectives of financial reporting except to provide information Need to Develop Standards Parties Involved in Standard Setting Securities and Exchange Commission American Institute of CPAs Financial Accounting Standards Board Financial Accounting Standards Board Financial Accounting Standards Board The first step taken in the establishment of a typical FASB statement is Due Process Types of Pronouncements Governmental Accounting Standards Board Generally Accepted Accounting Principles Generally Accepted Accounting Principles Which of the following accounting pronouncements is the most authoritative? Issues in Financial Reporting Issues in Financial Reporting All those who serve on the FASB must be Certified Public Accountants. Issues in Financial Reporting Issues in Financial Reporting Issues in Financial Reporti