Chap001

Fundamentals of Financial Accounting with Annual Report

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Chapter 01 - Business Decisions and Financial Accounting CHAPTER 1 BUSINESS DECISIONS AND FINANCIAL ACCOUNTING Student Learning Objectives and Related Assignment Materials Student Learning Objectives Mini- Exercises Exercises Coached Problems Problems (Groups Skills Development Cases Multi- chapter Material 1. Describe various organizational forms and business decision makers. 2 1, 2, 3 2. Describe the purpose, structure, and content of the four basic financial statements. 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13*, 14 1, 2, 3*, 4, 5, 6*, 7, 8*, 9, 10, 11, 12 1, 3 A1, A2, A3, B1, B3 1, 2, 3, 4, 6*, 7 CC1† 3. Explain how financial statements are used by decision makers. 14 3*, 4, 6*, 9, 10 2 B2 1, 2, 3, 4, 6* CC1† 4. Describe factors that contribute to useful financial information. 1, 2, 4 4, 5, 6* Supplement 1A: Accounting Careers *Animated solution included in the PowerPoint Slides. †CC1 introduces Nicole Mackisey, who is thinking of forming her own spa business, Nicole’s Getaway Spa. This case focuses on preparing a (forecasted) income statement, statement of retained earnings, and balance sheet for the business. The case will be extended in future chapters. Overview A real entrepreneur meets with his local CPA, who walks him through the decisions he must make when planning his business. Students discover the role of accounting, with an emphasis on financial statement reporting and use. Synopsis of Chapter Revisions New chapter opener Revised conceptual framework discussion Introduction of International Financial Reporting Standards (IFRS) New ethical conduct discussion One new question, thee new problems, and three new cases One new continuing case 1-1
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Chapter 01 - Business Decisions and Financial Accounting PowerPoint Slides Student Learning Objective PowerPoint® Slides 1. Describe various organizational forms and business decision makers. 1-2 through 1-6 2. Describe the purpose, structure, and content of the four basic financial statements. 1-7 through 1-22 3. Explain how financial statements are relevant to users. 1-23 through 1-24 4. Describe factors that contribute to useful financial information. 1-25 through 1-28 Supplement 1A: Accounting Careers 1-29 through 1-30 Animated Builds and Animated Solutions PowerPoint® Slides Exhibit 1.6 – Relationships among the Financial Statements 1-20 through 1-22 Mini-Exercise 1-13 1-32 through 1-33 Exercise 1-3 1-34 through 1-35 Exercise 1-6 1-36 through 1-38 Exercise 1-8 1-39 through 1-41 Skills Development Case 1-6 (Requirement 1) 1-42 through 1-43 Summary of Related Video Program McGraw-Hill/Irwin Financial Accounting Video Series Program #1 – The Role of the Accountant (9:58) Companies featured in this video include Nostalgic Warehouse, On-Target Supplies and Logistics, and Sprint. After introducing the basic accounting equation, business transactions are addressed. Nostalgic Warehouse, a sole proprietorship, is a real world example of a start-up business whose accounting needs
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Chap001 - Included is the excel files, power point files,...

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