CONCEPTUAL FRAMEWORK for Accounting: A System of interrelated concepts/objectives that lead to standards
GOALS (OBJECTIVES) & PURPOSES
To provide & communicate USEFUL information in:
1. Investment & Credit Decisions
2. Making resource allocation decisions
Fall 2016 Homework Question 2
Financial Statements
Solution
The notes referred to within the statement are not the information notes from the homework but notes below
the statement.
The explanation notes are from instructor to student, actual disclosure n
Acct 210 Relevant Steps in Accounting Cycle:
Analyze and record
business
transactions.
Prepare a postclosing trial
balance.
Prepare a
pre-adjusting
trial balance.
Journalize and
post closing
entries.
Journalize and
post adjusting
entries.
Prepare an
adjus
Accounting 210
Review of Accounting 110 and 111
Steps in a Manual Accounting Cycle1
.
o
1
Explanation
Business transactions occur and generate
source documents.
Source documents are cash register tapes,
sales tickets, bills, cheques, payroll cards,
etc.
A
Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in
Shareholders Equity
1. Prepare the below indicated financial statements in Excel. Submit your initial
submission in Excel. Note: Name your file your last name, you
Ch. 15
Investment
Summary
p. 781
Chapter 16: Statement of Cash Flows
Example #1: Identify which part of the cash flow statement the following transactions would be
reflected in:
Payment to supplier for inventory
Operating activities
Purchase of plant equi
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PAPER 90
ENVIRONMENTAL FLUID DYNAMICS
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MATHEMATICAL TRIPOS Part IA
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