Bio101 Chapter 1 Textbook Answers

CHAPTER 1

Financial Accounting and Accounting Standards

ASSIGNMENT CLASSIFICATION TABLE (By Topic)

Topics

Questions

Cases

1.

Subject matter of accounting.

1

4

2.

Environment of accounting.

2, 3, 28

6, 7

3.

Role of principles, objectives, standards,

and accounting theory.

4, 5, 6, 7

1, 2, 3, 5

4.

Historical development of GAAP.

8, 9, 10, 11

8

5.

Authoritative pronouncements and rulemaking bodies.

12, 13, 14, 15,

16, 17, 18, 19,

20, 21

3, 9, 11, 12, 14

6.

Role of pressure groups.

22, 23, 24, 25,

26, 27

10, 16, 17

7.

Ethical issues.

29

13, 15

Copyright © 2013 John Wiley & Sons, Inc.

Kieso, Intermediate Accounting, 15/e, Solutions Manual

(For Instructor Use Only)

1-1

ASSIGNMENT CLASSIFICATION TABLE (By Learning Objective)

Learning Objectives

1. Identify the major financial statements and other

means of financial reporting.

2. Explain how accounting assists in the efficient

use of scarce resources.

3. Identify the objective of financial reporting.

Questions

1, 2

4.

5.

Explain the need for accounting standards.

Identify the major policy-setting bodies and their

role in the standard-setting process.

6

8, 9, 10, 11,13, 14, 15,

16, 19

6.

Explain the meaning of generally accepted

accounting principles (GAAP) and the role of the

codification for GAAP.

Describe the impact of user groups on the rulemaking process.

Describe some of the challenges facing financial

reporting.

Understand issues related to ethics and

financial accounting.

12, 14, 18, 19, 20, 21

7.

8.

9.

1-2

Copyright © 2013 John Wiley & Sons, Inc.

Cases

CA1-4, CA1-5

3, 5

4, 7

CA1-2, CA1-3, CA1-4,

CA1-5, CA1-6

CA1-3, CA1-7, CA1-9

CA1-1, CA1-2, CA1-3,

CA1-7, CA1-8, CA1-9,

CA1-11, CA1-14

CA1-2, CA1-3, CA1-7,

CA1-8, CA1-12

17, 22, 23, 24, 25, 26,

27

28

CA1-10, CA1-11, CA113, CA1-16, CA1-17

16, 17, 29

CA1-6, CA1-13, CA1-15...