Financial Accounting and Accounting Standards参考.ppt

Learning Objectives Identify the major financial statements and other means of financial reporting. Explain how accounting assists in the efficient use of scarce resources. Identify the objective 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 (GAAP) and the role of the Codification for GAAP. Describe the impact of user groups on the rule-making process. Describe some of the challenges facing financial reporting. Understand issues related to ethics and financial accounting. Financial Statements and Financial Reporting Financial Statements and Financial Reporting Financial Statements and Financial Reporting What is the purpose of information presented in notes to the financial statements? Financial Statements and Financial Reporting Accounting and Capital Allocation An effective process of capital allocation is critical to a healthy economy, which Financial Statements and Financial Reporting Objective of Financial Accounting Objective of Financial Accounting Need to Develop Standards Parties Involved in Standard Setting Parties Involved in Standard Setting Parties Involved in Standard Setting Parties Involved in Standard Setting Financial Accounting Standards Board Financial Accounting Standards Board The first step taken in the establishment of a typical FASB statement is Financial Accounting Standards Board Financial Accounting Standards Board Types of Pronouncements Generally Accepted Accounting Principles Generally Accepted Accounting Principles Generally Accepted Accounting Principles Which of the following accounting pronouncements is the most authoritative? Generally Accepted Accounting Principles Generally Accepted Accounting Principles Issues in Financial Reporting Issues in Financial Reporting Issues in Financial Reporting Issues in Financial Reporting Issues in Financial Reporting Issue