Chapter_2 - Chapter 2 Measuring Business Transactions LO 1...

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Chapter 2 “Measuring Business Transactions”
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LO 1 – Measurement issues of recognition, valuation, and classification These measurement issues are affected by the type of accounting system (U.S. GAAP, other country-specific GAAP, IFRS, etc.) that your company should comply with.
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LO 1 – Measurement issues of recognition, valuation, and classification These measurement issues are affected by the type of accounting system (U.S. GAAP, other country-specific GAAP, IFRS, etc.) that your company should comply with. http://www.fasb.org/st/ U.S. GAAP is mostly based on SFASs created by the FASB and other standard setting bodies. FASB – Financial Accounting Standards Board SFASs - Statements of Financial Accounting Standards
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LO 1 – Measurement issues of recognition, valuation, and classification These measurement issues are affected by the type of accounting system (U.S. GAAP, other country-specific GAAP, IFRS, etc.) that your company should comply with. http://www.fasb.org/st/ U.S. GAAP is mostly based on SFASs created by the FASB and other standard setting bodies. FASB – Financial Accounting Standards Board SFASs - Statements of Financial Accounting Standards Do you need to know U.S. GAAP? For this class – YES! At your future job – MAYBE. The good news – debits are debits and credits are credits everywhere.
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LO 1 – Measurement issues of recognition, valuation, and classification These measurement issues are affected by the type of accounting system (U.S. GAAP, other country-specific GAAP, IFRS, etc.) that your company should comply with. http://www.fasb.org/st/ U.S. GAAP is mostly based on Statements of FASs created by the FASB and other standard setting bodies. FASB – Financial Accounting Standards Board FASs - Statements of Financial Accounting Standards Do you need to know U.S. GAAP? For this class – YES! At your future job – MAYBE. The good news – debits are debits and credits are credits everywhere. http://www.iasplus.com/dttpubs/pocket2007.pdf . In case you want to know more about IFRS, consult this summary booklet or go to the link below for authoritative literature: http://www.iasb.org/IFRS+Summaries/IFRS+and+IAS+Summaries+E
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LO 1 For similarities and differences between U.S.
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Chapter_2 - Chapter 2 Measuring Business Transactions LO 1...

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