Chapter 9 Comments 8th ed

Chapter 9 Comments 8th ed - Instructor Comments Chapter...

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Instructor Comments Chapter Nine Goodbye to the halfway point - we are now on the “down hill run”. I did not give you a “Concept Assessment Quiz” on chapter 8 and will not include that chapter on the next major exam. So, let's get going on chapter 9 and the rest of the course. ________________________________________________________ This is a very important chapter and should clarify some of the concepts you have studied regarding revenues and expenses. A good understanding of the income statement and the concepts in this chapter are vital to good decision-making by management . (That’s you - either now or soon in the future!!! ) When you finish this chapter, you should have a clear understanding of exactly which accounts go in the income statement and should know how to prepare the statement in the proper format! Make sure you understand the definition of revenue and the two criteria necessary for the recognition of revenue. As you already know, an expense is a cost that has been used up,
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Chapter 9 Comments 8th ed - Instructor Comments Chapter...

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