311-Ch02Outline(5th) - CHAPTER 2- INVESTING AND FINANCING...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 2— INVESTING AND FINANCING DECISIONS AND THE BALANCE SHEET The Conceptual Framework The Primary Objectives of External Reporting Qualitative Characteristics Relevant Reliable Comparable Consistent Assumptions Separate-entity assumption Unit-of-measure assumption Continuity (going-concern) assumption Principles Historical Cost Revenue Recognition Matching Constraints Cost-Benefit Materiality Industry Peculiarities Conservatism Elements of the Balance Sheet Assets Current Assets Liabilities Current liabilities Stockholders Equity Contributed Capital Retained Earnings Business Transactions Accounts Acc 311 - Sp 2007 Chapter 2 Outline Page 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Transaction Analysis 1. Identify the accounts affected 2. Classify each account as A, L, or SE 3. Determine the direction of the effect (increase or decrease) for each account. 4.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/16/2008 for the course ACC 02495 taught by Professor May during the Fall '08 term at University of Texas at Austin.

Page1 / 3

311-Ch02Outline(5th) - CHAPTER 2- INVESTING AND FINANCING...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online