Review for ACG 301 Exam #1 - Full Disclosure Constraints...

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Review for ACG 301 Exam #1 Here is the information you need to know … I am not kidding!! Chapter 1 Objective of financial reporting Securities Exchange Commission (SEC) Committee on Accounting Procedure (CAP) Accounting Principles Board (APB) FASB Generally Accepted Accounting Principles (GAAP) Expectations Gap Chapter 2 Conceptual Framework Objective of financial reporting Fundamental concepts: Relevance and Faithful Representation Enhancing quality: Verifiability, Comparability, Consistency, Timeliness Basic Elements Basic Assumptions Economic entity Going concern Monetary Unit Periodicity Basic Principles Revenue recognition Expense recognition (Matching)
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Unformatted text preview: Full Disclosure Constraints Cost Industry Conservatism Chapter 3 Accounting Information Systems Debits/Credits Accounting equation Financial statements Accounting Cycle Analyze transactions Journalize transactions Post transactions Trial balance Adjusting entries Adjusted trial balance Prepare financial statements Closing entries Post closing trial balance Financial Statements Income Statement Statement of Stockholders Equity (Retained Earnings) Format 20 Multiple Choice 2 Problems Bring: #2 pencil and calculator Balance Sheet Statement of Cash Flows...
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This document was uploaded on 03/08/2012.

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Review for ACG 301 Exam #1 - Full Disclosure Constraints...

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