成都理工大学会计英语7.pptx

ACCOUNTING 会计英语 主讲教师：朱靖;Accounting Principles;Explain the meaning of GAAP and identify the key items of the conceptual framework. Describe the basic objectives of financial reporting. Discuss the qualitative characteristics of accounting information and elements of financial statements. Identify the basic assumptions used by accountants. Identify the basic principles of accounting. Identify the two constraints in accounting. Understand and analyze classified financial statements. Explain the accounting principles used in international operations.;;Various users need financial information;;Conceptual Framework - “…a constitution, a coherent system of interrelated objectives and fundamentals.” FASB’s conceptual framework consists of the following: Objectives of financial reporting. Qualitative characteristics of accounting information. Elements of financial statements. Operating guidelines (assumptions, principles, and constraints).;Review: A conceptual framework underlying financial accounting is important because it can lead to consistent standards and it prescribes the nature, function, and limits of financial accounting and financial statements.;Review: A conceptual framework underlying financial accounting is necessary because future accounting practice problems can be solved by reference to the conceptual framework and a formal standard-setting body will not be necessary.;What are the Statements of Financial Accounting Concepts intended to establish? Generally accepted accounting principles in financial reporting by business enterprises. The meaning of “Present fairly in accordance with generally accepted accounting principles.” The objectives and concepts for use in developing standards of financial accounting and reporting. The hierarchy of sources of generally accepted accounting principles.;;According to the FASB conceptual framework, the objectives of financial reporting for business enterprises are based on? Generally accepted accounting princi