CH06 - CHAPTER 6 Accounting Principles ASSIGNMENT...

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Unformatted text preview: CHAPTER 6 Accounting Principles ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises Problems Alternate Problems 1. Explain the meaning of generally accepted accounting principles and identify the key items of the conceptual framework. 1, 2 1, 2 2. Describe the basic objectives of financial reporting. 3 3 3. Discuss the qualita- tive characteristics of accounting information and elements of finan- cial statements. 4, 5 4, 5, 6 4. Identify the basic assumptions used by accountants. 6 7 1, 2, 3 1, 2, 3 1, 2, 3 5. Identify the basic prin- ciples of accounting. 7, 8, 9, 10, 11, 12, 13 7 1, 2, 3, 4 1, 2, 3 1, 2, 3 6. Identify the two con- straints in accounting. 14 8 1, 2, 3 3 3 7. Understand and ana- lyze classified financial statements. 15, 16, 17, 18, 19, 20 9, 10, 11 5, 6, 7, 8, 9 4, 5 4, 5 8. Explain the accounting principles used in inter- national operations. 21, 22 10 6-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1 Analyze transactions to identify accounting principle or assumption violated and preparation of correct entries. Moderate 20-30 2 Determine the appropriateness of journal entries in terms of generally accepted accounting principles or assumptions. Moderate 20-30 3 Identify accounting assumptions, principles, and constraints. Moderate 20-30 4 Prepare a classified balance sheet and analyze financial position. Moderate 35-45 5 Prepare a multiple-step income statement and ana- lyze profitability. Moderate 35-45 1A Analyze transactions to identify accounting principle or assumption violated and preparation of correct entries. Moderate 20-30 2A Determine the appropriateness of journal entries in terms of generally accepted accounting principles or assumptions. Moderate 20-30 3A Identify accounting assumptions, principles, and constraints. Moderate 20-30 4A Prepare a classified balance sheet and analyze financial position. Moderate 35-45 5A Prepare a multiple-step income statement and ana- lyze profitability. Moderate 35-45 Correlation Chart between Bloom's Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledg e Comprehe nsion Applicati on Analys is Synthesi s 1. Explain the meaning of generally accepted accounting principles and identify the key items of the conceptual framework. Q6-1 Q6-2 BE6-2 BE6-1 2. Describe the basic objectives of financial reporting. Q6-3 BE6-3 3. Discuss the qualitative charac- teristics of accounting informa- tion and elements of financial statements. BE6-4 BE6-5 BE6-6 Q6-4 Q6-5 4. Identify the basic assumptions used by accountants. BE6-7 Q6-6 E6-1 E6-3 P6-3 P6-3A E6-2 P6-1 P6-2 P6-1A P6-2A 5. Identify the basic principles of accounting....
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CH06 - CHAPTER 6 Accounting Principles ASSIGNMENT...

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