By Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
This bestseller has powered the careers of numerous execs. the hot variation builds at the book's popularity for comprehensiveness, accuracy, and foreign money, incorporating all of the contemporary alterations to the accounting literature.
Read or Download Intermediate Accounting, 11 Edition PDF
Similar accounting books
Monetary accounting is present process a interval of exceptional switch. The FASB and IASB were operating jointly to factor converged accounting criteria that would dramatically switch key reporting components, and extra in general have sought to converge accounting criteria over the years. In overdue 2011, the SEC will announce its selection on even if huge public businesses within the U.
The authors of ACCOUNTING, 23e, take into account that you must locate very important details speedy. This textbook makes use of an built-in studying approach that can assist you entire homework and lead you to accounting mastery. development at the authors' confirmed technique, transparent examples and high-impact writing advisor you thru the coaching of monetary statements because the authors artfully offer a framework for knowing what accounting is all approximately and accounting's evolving function in enterprise.
- J.K. Lasser's Winning Ways to Save for College
- Social Indicators: The EU and Social Inclusion
- Efficient Methods for Valuing Interest Rate Derivatives (Springer Finance)
- Financial Times Guide to Using the Financial Pages
- Accounting for Non-Accounting Students
- Wiley CPAexcel Exam Review 2014 Study Guide, Financial Accounting and Reporting
Extra resources for Intermediate Accounting, 11 Edition
They note that a change tends to destroy the comparability of data before and after the change. Some companies take the time to assist users to understand the pre- and post-change data. Generally, however, users say they lose the ability to analyze over time. 9 “Reports on Audited Financial Statements,” Statement on Auditing Standards No. 58 (New York: AICPA, April 1988), par. 34. qxd 34 11/13/02 • 3:08 PM Page 34 mac62 Pdrive 03:es%0:wiley:8658d:0471072087:ch02:text_s: Chapter 2 Conceptual Framework Underlying Financial Accounting In summary, accounting reports for any given year are more useful if they can be compared with reports from other companies and with prior reports of the same entity.
Expense as incurred. ILLUSTRATION 2-4 Expense Recognition Hollywood accounting The problem of expense recognition is as complex as that of revenue recognition, as illustrated by Hollywood accounting. Major motion picture studios have been allowed to capitalize advertising and marketing costs and to amortize these costs against revenues over the life of the film. As a result, many investors have suggested that the studios’ profit numbers were overstated. Under a new GAAP standard, these costs now must be amortized over no more than 3 months; in many cases, they must be expensed immediately.
Describe the FASB’s efforts to construct a conceptual framework. The FASB has issued six Statements of Financial Accounting Concepts that relate to financial reporting for business enterprises. These concept statements provide the framework for the conceptual framework. They include objectives, qualitative characteristics, and elements. In addition, measurement and recognition concepts are developed. ᕣ Understand the objectives of financial reporting. The objectives of financial reporting are to provide information that is (1) useful to those making investment and credit decisions who have a reasonable understanding of business activities; (2) helpful to present and potential investors, creditors, and others in assessing future cash flows; and (3) about economic resources and the claims to and changes in them.
Intermediate Accounting, 11 Edition by Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield