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17 download_doc.php - t – EXP t HEP ER Chapter 2...

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A311 (1/15/09) AR end  = AR beg  + REV – WO – AR Collections -AUA end  = -AUA beg  + WO – BDE __________________________________________ BS        IS          CFS             IS AR net end  = AR net beg  + REV – AR Collect. – BDE* 1700       900     30,000       27,000 BDE = -AR net end  + AR net beg  + REV – AR Collect.   -1700   +  900   + 30,000 – 27,000 = 2200 _________________________________________        BS  CFS     IS INV t  =INV t-1  +INV COSTS t  – COGS t  – INV Impairment loss t           HEP principle Exp Recog. Principle __________________________________________      BS CFS         IS PE t  = PE t-1 +EXP Payments t  – EXP t HEP        ER ____________________________________________ -AE t  = -AE t-1  + EXP PMTS
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Unformatted text preview: t – EXP t HEP ER ___________________________________________ Chapter 2: Accounting Concepts, Identities, and Mechanics 2.3: Characteristics of useful accounting information According to SIAC #2, useful accounting information is… 1.) Relevant (…we already knew this) 2.) Reliable consider example of realizable accounts receivable (AR net ); Accountants don’t “know” what this value is, so it has to be estimated: Neg. Skewed Probability Density BIAS AR net AR Gross mean mode median Also…AR net should represent estimated realizable receivables, NOT something else 3.) Consistency: Measurements (estimates) are consistent across time EST...
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