Basic Accounting Concepts and Business Structures Danny Silvio ACC/537 10/10/11 Professor Basic Accounting Concepts and Business Structures Generally Accepted Accounting Principles The sources of accounting principles and the framework for selecting the principles to be used in the preparation of financial statements are prepared by the Financial Accounting Standards Board (FASB). The standard categorizes the major sources of GAAP as being FASB Standards, Interpretations
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Explaining Basic Accounting Concepts and Business Structures University of Phoenix 11/20/2010 Accounting 537 Explaining Basic Accounting Concepts and Business Structures There are many important aspects of accounting. The generally accepted accounting principles are accounting rules set out for companies to follow to ensure all companies are on the same page business wise. Qualities of accounting are important in the decision making process of accounting. Accrual and
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Week One Individual Explaining Basic Accounting Concepts and Business Structures Week One Individual Generally Accepted Accounting Principles and Source Hierarchy The sources of Generally Accepted Accounting Principles are the FASB standards, Interpretations, and Staff Positions, APB Opinions, AICPA Accounting Research Bulletins and other authoritative pronouncements. The hierarchy is as such: Category A, B, C, and D and Category A is the highest hierarchy. The following
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09/05/2016 Welcome! Welcome! • Intermediate Financial Accounting (ACCT 3200) • M-W-F 2:30-4:20 in AE 208 • Important Dates – – – – – Intermediate Financial Accounting Friday May 13, 2016 – First Midterm (25% of grade) Monday May 23, 2016 – No class Friday May 27, 2016 – final date to withdraw Friday June 3, 2016 – Second Midterm (25% of grade) Friday June 17, 2016 – Final Exam (1:30-4:30) (45% of grade) • Quizzes will be announced the class prior Copyright © John Wiley
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Entity’s Ability to Continue as a Going Concern An Amendment of the FASB Accounting Standards Codification® The FASB Accounting Standards Codification® is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. An Accounting Standards Update is not authoritative; rather, it is a document that communicates how the Accounting Standards Codification is being amended. It also provides other information to
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375 WEEK 2 DISCUSSION QUESTION 1 To purchase this visit here: http://www.nerdypupil.com/product-category/acc-375/ Contact us at: nerdypupil@gmail.com ACC 375 WEEK 2 DISCUSSION QUESTION 1 Explain the differences among the Financial Accounting Standards Board (FASB), the Securities and Exchange Commission (SEC), and the Public Company Accounting Oversight Board (PCAOB). Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 375 Week 2 Discussion Question 1
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With the complexity of accounting today there is a need for someone to oversee the auditors and the publicly help companies. The auditors must prove their independence when attesting to the financial statements of publicly held companies. The public companies must be honest and open when they file their financial statements. In recent years there have been auditors who were bias towards some companies and also companies have not been disclosing all the facts about their financial position. These
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A Discussion about the NYSE and NASDAQ Dannielle Gribble American Intercontinental University Abstract The purpose of this paper is to discuss both the differences and likenesses between NASDAQ and the NYSE. Also mentioned in this paper is a brief discussion about “The Public Company Accounting and Investor Protection Act of 2002” and its impact on public businesses as well as the investors thereof. A Discussion about the NYSE and NASDAQ NASDAQ and the NYSE are both popular in the sector
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Discussion What are the main duties of each of the positions that comprise Abernethy and Chapman’s engagement team? Abernethy and Chapman’s engagement team comprises of a partner-in-charge, a manager, a senior auditor, and one or more staff auditors. The partner-in-charge leads the engagement team and is responsible for all final decisions made while conducting the audit. The manager, senior auditor, and staff auditors are to perform the actual audit examination. The engagement team’s responsibility
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ISSUES IN ACCOUNTING EDUCATION Vol. 28, No. 1 2013 pp. 77–92 American Accounting Association DOI: 10.2308/iace-50298 Going Concern Designations and GAAP versus Non-GAAP Earnings Metrics James L. Bierstaker, Thomas F. Monahan, and Michael F. Peters ABSTRACT: Many students have not spent much time studying or contemplating the importance of non-GAAP (Generally Accepted Accounting Principles) earnings to the ‘‘Street.’’ Based on the facts of an actual company and utilizing the financial information
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