Week Two Lecture Notes

Week Two Lecture Notes - INSTRUCTORNOTES Cycle...

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INSTRUCTOR NOTES: Cycle Welcome to Week Two! This week, we are discussing chapters three and  four. A couple of things to note: Chapter Three introduces the accrual basis of accounting, and the related  revenue recognition and matching principles.   It also demonstrates how  challenging it can be to match expenses with revenues, especially when it  is difficult to determine the period over which expense and revenues should  be matched.  If expenses are recognized over a period less than the period  used  for   revenues,  earnings  will   be  understated   in  the  beginning   and  overstated during latter years.   Or, if expenses are recognized over a  longer period than revenues, the reverse would be true.  
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This note was uploaded on 02/13/2011 for the course ACCT 510 taught by Professor Tewes during the Spring '09 term at Davenport.

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Week Two Lecture Notes - INSTRUCTORNOTES Cycle...

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