Difference between revisions of "Sandbox"
From Chrono Compendium
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| + | <table width="100%" border="0" cellspacing="10"><tr><td valign="top" width="50%"> | ||
| + | Intermediate Accounting Aims | ||
| + | |||
| + | * Capital allocation and investment decisions | ||
| + | * Help investors assess amounts, timing, and uncertainty of prospective cash receipts | ||
| + | * Clearly portray economic resources of an enterprise and claims on them | ||
| + | |||
| + | Intermediate Accounting Qualitative Concepts (Concepts No. 2) | ||
| + | |||
| + | * Understandablity | ||
| + | * Relevance (Predictive value, feedback value, timeliness) | ||
| + | * Reliability (Verifiability, representational faithfulness, neutrality) | ||
| + | * Comparability | ||
| + | * Consistency | ||
| + | |||
| + | Intermediate Accounting Basic Elements | ||
| + | |||
| + | * Assets | ||
| + | * Liabilities | ||
| + | * Equity | ||
| + | * Investments by Owners | ||
| + | * Distributions to Owners | ||
| + | * Comprehensive Income | ||
| + | * Revenues | ||
| + | * Expenses | ||
| + | * Gains | ||
| + | * Losses | ||
| + | |||
| + | Intermediate Accounting Recognition Assumptions Etc. | ||
| + | |||
| + | * Economic Entity | ||
| + | * Going Concern Assumptions | ||
| + | * Monetary Unit Assumption | ||
| + | * Periodicity Assumption | ||
| + | * Historical Cost Principle | ||
| + | * Revenue Recognition (realized, earned, recognition) | ||
| + | * Matching Principle | ||
| + | * Full disclosure | ||
| + | |||
| + | Intermediate Accounting Constraints | ||
| + | |||
| + | * Cost-benefit of producing information | ||
| + | * Materiality | ||
| + | * Industry practices | ||
| + | * Conservatism – choose least likely to overstate assets and income | ||
| + | </td><td valign="top" width="50%"> | ||
| + | |||
| + | </td></table> | ||
Revision as of 06:17, 18 October 2008
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