Kieso Chapter 2

In: Business and Management

Submitted By bigbondclover
Words 1870
Pages 8
SISTEM AKUNTANSI
PEMERINTAH
Magistern Akuntansi UNS

Chapter
2-1

KERANGKA KONSEPTUAL
AKUNTANSI PEMERINTAHAN
BANDI

Chapter
2-2

CHAPTER

2

CONCEPTUAL FRAMEWORK FOR
FINANCIAL REPORTING

Intermediate Accounting
IFRS Edition
Kieso, Weygandt, and Warfield
Chapter
2-3

Tujuan pembelajaran
(Learning Objectives =LO)
1.

Menggambarkan kegunaan kerangka konseptual.

2.

Menggambarkan upaya untuk membangun kerangka konseptual.

3.

Memahami tujuan pelaporan keuangan.

4.

Mengidentifikasi karakteristik kualitatif dari informasi akuntansi.

5.

Mendefinisikan elemen dasar dari laporan keuangan.

6.

Menggambarkan asumsi dasar akuntansi.

7.

Menjelaskan penerapan (application) prinsip-prinsip dasar akuntansi. 8.

Menggambarkan dampak (yang dimiliki) kendala pada pelaporan informasi akuntansi.

Chapter
2-4

Kerangka kerja Konseptual untuk pelaporan keuangan Kerangka kerja
Konseptual

Kebutuhan
Pengembangan
Ikhtisar
(Overview)

Level pertama:
Tujuan dasar

Level Kedua :
Konsep dasar

Level ketiga: konsep Pengakuan, pengukuran dan pengungkapan Karakteristik kualitatif Asumsi-asumsi dasar Elemen dasar

Prinsip dasar
Kendala
Ringkasan dari struktur Chapter
2-5

Conceptual Framework
Kerangka konseptual menetapkan konsep-konsep yang mendasari pelaporan keuangan.

Kebutuhan untuk kerangka konseptual
Pembuatan aturan harus dibangun atas dan berhubungan dengan bodi yang mapan dari konsep.
Memungkinkan IASB (=KSAP) untuk mengeluarkan pernyataan yang lebih berguna dan konsisten dari waktu ke waktu.
Chapter
2-6

LO 1 Describe the usefulness of a conceptual framework.

Conceptual Framework
Pengembangan kerangka konseptual
IASB dan FASB sedang mengerjakan sebuah proyek bersama untuk mengembangkan kerangka konseptual yang sama
Kerangka akan mengembangkan…...

Similar Documents

Chapter 2

...Chapter 2 REVIEW OF RELATED SYSTEMS This chapter presents the gathered existing systems that are relevant to the development of Barangay Information System. It includes the related system and the technical background of the system. Related System Barangay West Alangilan Information System a study focused on the improvement of the system employed in the barangay. The system was designed to provide an organized information system that store, keep record and to implement the development of technology by making the system used in touch screen devices. (Esguerra, et.al., 2008) The study has a similarity and differences to the developed system. This is similar to the system in a way that they both can keep and store the data or records. They both have a database that will be kept the information. And it’s difference in the implementation. The system that they developed was implemented through touch screen devices. The Integrated Human Resources Information System with Biometric Technology of the City Government of Tanauan is concern on how they can store, update, and retrieve files in the shortest possible time and to well-organized the reports of the Human Resource Department Office of the City Government of Tanauan. They developed the system in Microsoft Visual Basic 2008 and MS SQL Server 2008. (Barba et.al, March, 2010) The study conducted by Barba et.al is similar with developed system because they can store, update, and retrieve information.......

Words: 870 - Pages: 4

Chapter 2

...Question Chapter 2 1. Both IT management and general management are responsible for implementation of information security that protects the organizations ability to function. Enforce policy. 2. No data, no record of transactions and no ability to deliver to its customers. Network and a secure infrastructure services. 3. Both IT and general management 4. More because business technology networks are now connected to the internet and other networks outside the organization. Makes it easier for people to gain access to the organizations networks. 5. Information extortion, an attacker steals information from a computer system and demands compensation for its return or agrees to not disclose it. If the hacker gains unauthorized use to a Military captain’s personal computer and discover obscene photos, he can blackmail the person in exchange for keeping photos undisclosed and equal loss of privacy and security for the captain. 6. Because employee mistakes can lead to the disclosure of classified data, entry of erroneous data, accidental deletion or modification of data and the storage of data in unprotected form and fail to follow procedures to protect data. 7. Avoid accessing confidential information while others are present, limit the # of times you access it, be aware of who is around you, shield paperwork or monitor from view. 8. Expert hackers have turned their attention to writing software. They are extremely talented individuals who usually devote a lot of time......

Words: 555 - Pages: 3

Chapter 2

...CHAPTER ONE: GLOBALIZATION AND INTERNATIONAL BUSINESS I. INTRODUCTION As people, firms, and other organizations have expanded their access to resources, goods, services, and markets across wider geographical areas, they have also become more deeply affected (positively and negatively) by conditions outside their home countries. Globalization refers to the broadening set of interdependent relationships among people from different parts of a world that happens to be divided into nations. A. What is International Business? International business involves all commercial transactions—private and governmental—between parties of two or more countries. Global events and competition affect almost all firms—large or small. However, the international environment is more complex and diverse than a firm’s domestic environment. II. THE FORCES DRIVING GLOBALIZATION Globalization is a difficult concept to measure. Currently, about 25 percent of world production is sold outside of its country of origin, restrictions on imports continue to decline, the foreign ownership of assets as a percent of world production continues to increase, and world trade continues to grow more rapidly than world production. Recessionary contraction in recent years has at least temporarily reversed this trend. That said, on a value basis, only a few countries (mainly very small nations) either sell more than half of their production abroad or source more than half of their consumption from foreign countries.......

Words: 2050 - Pages: 9

Chapter 2

...AP stands for “Additional Problem.” “AP21” is additional problem 1 from chapter 2. The additional problems for the Markets material is after the AP for chapter 12. Chapter 2 AP21 When is revenue recognized by a corporation? When the corporation designs a project. When the corporation mass produces a product. When the customer orders a product. When the product is delivered to the customer and the customer promises to pay When the customer fulfills his promise in item #d above by paying the cash to the corporation. When the corporation receives a cash deposit from a customer for a product to be delivered next month. When the right of return expires. The corporation sells thousands of small lawn mowers. Answer d. When the product is delivered to the customer and the customer promises to pay Explanation: The FASB’s definition of a revenue is “Inflows or other enhancements of assets of an entity or settlements of its liabilities during a period from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major or central operations.” A common-sense explanation is that revenue is recognized when it is “earned and receivable.” Delivery is normally the time period in which revenue is recognized. There are three exceptions. If the collection of cash is highly uncertain, revenue is recorded at the time cash is received. If the level of returns is highly uncertain, revenue is recognized when the right to......

Words: 566 - Pages: 3

Chapter#2

...Chapter 2/Fundamental Economic Concepts Chapter 2 Fundamental Economic Concepts Solutions to Exercises 1. The number of checked bags should fall, as individuals internalize the external cost of added weight. However, the average weight should rise, as those checking bags would in all likelihood pack as much as possible to make up for the cost. 2. The wage in the market for oil spill cleanup efforts should rise, thanks to an increase in demand for labor. The wage in the market for similarly-skilled labor should also fall, as the relevant labor supply falls in response to the previous increase in wage. We would expect an increase in migration, as long as the wage of the home market was less than the wage that could be received in the Gulf region. 3. Projects A, C, G and B require a total of $875 million in investment. Project B, the lowest return project of this group is expected to generate an 18 percent rate of return. Ajax can raise up to $1,050 million, with the highest cost being 18 percent for the last $200 million. If Ajax were to choose any project beyond A, C, G, and Bsuch as project D (the next best project after B)that project would generate a marginal rate of return (16 percent), which is less than the marginal cost of funds needed to finance it, in this case 18 percent for the last $200 million up to a total of $1,050. Thus, the optimal capital budget is to invest in projects A, C, G, B, for a total of $875 million. 4. This question examines expected......

Words: 1045 - Pages: 5

Intermediate Accounting Chapter 2

...CHAPTER 2 Conceptual Framework for Financial Reporting ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. 2. 3. 4. 5. 6. Conceptual framework–general. Objectives of financial reporting. Qualitative characteristics of accounting. Elements of financial statements. Basic assumptions. Basic principles: a. Measurement. b. Revenue recognition. c. Expense recognition. d. Full disclosure. Accounting principles–comprehensive. Constraints. Assumptions, principles, and constraints. 28, 29, 30 10 11 Questions 1, 7 2 3, 4, 5, 6, 8 9, 10, 11 12, 13, 14 15, 16, 17, 18 19, 20, 21, 22, 23 24 25, 26, 27 1, 2, 3, 4 6, 11, 13 5, 7 8, 9, 12 8 8, 12, 8, 12 1, 2 2, 3, 4 5 6, 7 6, 7 7 6, 7 6, 7, 8 9, 10 3, 6, 7 6, 7 12 5, 6 5, 6 5, 6, 7, 8, 9, 11 11 Brief Exercises Exercises Concepts for Analysis 1, 2 3 4, 10 7. 8. 9. Copyright © 2011 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 14/e, Solutions Manual (For Instructor Use Only) 2-1 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives 1. 2. 3. 4. 5. 6. 7. 8. Describe the usefulness of a conceptual framework. Describe the FASB’s efforts to construct a conceptual framework. Understand the objectives of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial statements. Describe the basic assumptions of accounting. Explain the application of the basic principles of accounting. Describe the impact that constraints have on......

Words: 18492 - Pages: 74

Chapter 2

...CHAPTER 2: STRUCTURE OF OPTIONS MARKETS MULTIPLE CHOICE TEST QUESTIONS 1. Options are traded on which of the following exchanges? a. NYSE Amex b. NYSE Euronext (Arca) c. Chicago Board Options Exchange d. International Securities Exchange e. all of the above 2. A call option priced at $2 with a stock price of $30 and an exercise price of $35 allows the holder to buy the stock at a. $2 b. $32 c. $33 d. $35 e. none of the above 3. A put option in which the stock price is $60 and the exercise price is $65 is said to be a. in-the-money b. out-of-the-money c. at-the-money d. exercisable e. none of the above 4. Organized options markets are different from over-the-counter options markets for all of the following reasons except a. exercise terms b. physical trading floor c. regulation d. standardized contracts e. credit risk 5. The number of options acquired when one contract is purchased on an exchange is a. 1 b. 5 c. 100 d. 500 e. 8,000 6. The advantages of the over-the-counter options market include all of the following except a. customized contracts b. privately executed c. freedom from government regulation d. lower prices e. none of the above 7. Which one of the following is not a type of transaction cost in options trading? ...

Words: 1733 - Pages: 7

Chapter 2

...Solutions to Accompany Information Technology Project Management, Seventh Edition ISBN-10: 1133526853 ISBN-13: 978-1133526858 Course Technology MIS Series Kathy Schwalbe, Ph.D., PMP Created November 27, 2012 Table of Contents CHAPTER 1 2 CHAPTER 2 4 CHAPTER 3 6 CHAPTER 4 7 CHAPTER 5 14 CHAPTER 6 20 CHAPTER 7 25 CHAPTER 8 30 CHAPTER 9 33 CHAPTER 10 36 CHAPTER 11 38 CHAPTER 12 41 CHAPTER 13 43 APPENDIX A 44 APPENDIX B 49 APPENDIX C 50 List of solution files available and referenced in this document, in alphabetical order: CHAPTER 1 Introduction to Project Management DISCUSSION QUESTIONS 1. Why is there a new or renewed interest in the field of project management? More and more projects are being done by a variety of organizations. The projects are more complex and often involve the use of new technologies. Organizations are struggling to find better ways to manage their projects. 2. What is a project, and what are its main attributes? How is a project different from what most people do in their day-to-day jobs? What is the triple constraint? What other factors affect a project? A project is “a temporary endeavor undertaken to create a unique product, service, or result” (PMBOK Guide, 2012). In addition to being temporary and unique, other attributes of projects are that they are developed using progressive elaboration, require resources from various areas, should have a primary customer or sponsor,......

Words: 17532 - Pages: 71

Chapter 2

...following questions and problems from Chapter 2. Please submit your complete assignment in the course room by the due date. Chapter 2 Problems 2-1) An investor recently purchased a corporate bond that yields 9%. The investor is in the 36% combined federal and state tax bracket. What is the bond’s after-tax yield? 9% (1-T) = 9%(1-.36) =5.76% 2-2) Corporate bonds issued by Johnson Corporation currently yield 8%. Municipal bonds of equal risk currently yield 6%. At what tax rate would an investor be indifferent between these two bonds? 8% (1-T) + after tax corporate yield 6% - municipal tax exempt yield 8%(1-T) = 6% 8-8T+66 2=8t T=2/8 or 25% 2-7) The Talley Corporation had a taxable income of $365,000 from operations after all operating costs but before (1) interest charges of $50,000, (2) dividends received of $15,000, (3) dividends paid of $25,000, and (4) income taxes. What are the firm’s income tax liability and its after-tax income? What are the company’s marginal and average tax rates on taxable income? Income after operating costs: $365,000.00 Less: Interest Expense -$50,000.00 Plus: Taxable Dividends Received $4,500.00 Only 30% of the $15,000 in dividends are taxable. Taxable Income: $319,500.00 $319,500 falls into the $100,000 to $335,000 bracket so the corporate tax would be: $22,250 + .39 ($319,500 - $100,000) Tax Liability = $107,855.00 Average Tax Rate = $107,855/$319,500 = 33.76% 2-9) The Shrieves Corporation has......

Words: 847 - Pages: 4

Chapter 2

...CHAPTER 2 REVIEW OF RELATED LITERATURE AND STUDIES This chapter discusses foreign and local that can be attributed in the success of this undertaking. Difference and similarities with the previous studies are presented in this chapter. The following researches and studies greatly influence on the conduct of this study; the researchers have made consideration in drawing the final conclusion in the study. Foreign Literature Facebook is an evolutionary technology of the 21st century that changed social relationships, provides opportunity for individuals to share their ideas and opinions, and establishes and maintains relationships with others. Facebook allows a user to create a profile, display personal information, upload pictures, access other users profile, display personal information, accumulate friends, and interact with friends via messages and gifts. An average time of 30 minutes to 2 hours is spent on Facebook daily. Only recently are studies beginning to examine the effects of Facebook on physical, mental, and family health. Current studies conducted in college campuses reveal that Facebook can cause similar symptoms to drug addiction, effect familial systems and patterns contribute to upper respiratory infection, cause feelings of loneliness, depression, and narcissism, and can lead to less body satisfaction and worse time management according to Kalpidou, Costin and Morris (2011). Facebook was founded by Mark Zuckerberg and his roommates at Harvard University......

Words: 3462 - Pages: 14

Chapter 2 Bio Answers

...ioCHAPTER 2 Conceptual Framework for Financial Reporting ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions 1. Conceptual framework– general. 1, 7 2. Objective of financial reporting. 2 3. Qualitative characteristics of accounting. 3, 4, 5, 6, 8 4. Elements of financial statements. 5. 6. Brief Exercises Exercises Concepts for Analysis 1, 2 1, 2 3 1, 2, 3, 4 2, 3, 4 4, 9 9, 10, 11 6, 10, 12 5 Basic assumptions. 12, 13, 14 5, 7 6, 7 Basic principles: a. Measurement. b. Revenue recognition. c. Expense recognition. d. Full disclosure. 15, 16, 17, 18 19, 20, 21, 22, 23 24 25, 26, 27 8, 9, 11 8 8, 11 8, 11 6, 7 7 6, 7 6, 7, 8 7. Accounting principles– comprehensive. 8. Cost constraint. 9. Assumptions, principles, and constraints. Copyright © 2013 John Wiley & Sons, Inc. 5 5 5, 6, 7, 8, 10 10 9, 10 28, 29, 30 3, 6, 7 10 11 6, 7 Kieso, Intermediate Accounting, 15/e, Solutions Manual (For Instructor Use Only) 2-1 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Questions 1. Describe the usefulness of a conceptual framework. 1 2. Describe the FASB’s efforts to construct a conceptual framework. 3. Understand the objectives of financial reporting. 2 4. Identify the qualitative characteristics of accounting information. 3, 4, 5, 6, 8 5...

Words: 16128 - Pages: 65

Chapter 2

...Chapter 2 Review 1. Planning is the process of developing, creating, and implementing strategies. 2. The three levels of planning are, Strategic planning, Tactical planning, and Operational planning. 3. A stakeholder is a person(s) who have a vested interest in the aspects of planning. It is important to consider stakeholders view/opinions, because a lot of decision making affects their stake in a company. 4. A values statement is a formal set of organizational principles. A vision statement is an expression of what an organization wishes to become. A mission statement is an organization’s identity card. 5. Strategy is a plan of action or policy designed to achieve an overall goal. 6. InfoSec Governance s the set of multi-disciplinary structures, policies, procedures, processes and controls implemented to manage information at an enterprise level, supporting an organization's immediate and future regulatory, legal, risk, environmental and operational requirements. 7. Inculcating a culture that recognizes the criticality of information and infoSec to the organization. Verifying that management’s investment in InfoSec is properly aligned with organizational strategies and organization’s risk environment. Demanding reports from the various layers of management on the InfoSec program’s effectiveness and adequacy. 8. Strategic Alignment, Risk management, Resource management, Performance measurement, and Value delivery. 9. Top-down strategic......

Words: 543 - Pages: 3

Chapter 2

...Business 1301 Chapter 2 -How does economics relate to business? Can an understanding of economics help businesspeople succeed? If so how? Economics relates to business through microeconomics and macroeconomics. By studying these two principles, a business can take a look at the economy and set prices, choose to expand, or even release a new product. Understanding economics can help a business by allowing them to make future decisions from other’s past choices. - What are the fundamental elements of the free market economic system? How can businesses thrive within this system? The fundamental elements of the free market economic system include the majority of business that are privately owned and are free to choose what they will produce, how much to charge, and who to employ. The fundamental rights of a free market include; the right to own and profit from a business, the right to private property, the right to choice, and the right to fair competition. Businesses thrive because they are allowed to choose the best product for their business, the best people to work for them, the best place to open their business, and have the want to do good because of their potential monetary gains. - How do supply and demand impact the free market system? Supply and demand are what cause change in prices of goods across the board. If a new item was put on the market and everyone wanted one, the price of that item would skyrocket. Once the market gets flooded with copy cat......

Words: 458 - Pages: 2

Chapter 2

...Chapter 2, Section 3 Homework Problems Part A 1. (a) § 721 does not apply to Charlie’s contribution of services because § 721 only applies to property exchanged for an interest in the partnership. Charlie must recognize compensation for services under § 61(a)(1). Since Charlie has no risk of forfeiture, Charlie includes the compensation upon receipt of the interest under § 83. The amount included in gross income is FMV of $400K. Since Charlie contributed no other money or property to obtain his partnership interest, his basis in partnership interest is the amount included in income, $400K. Treas. Reg. § 1.722-1. The partnership will have a § 162 deduction for the amount of compensation paid and as such will reduce Avery and Blair’s basis by $200k each. (b) U.S. v. Frazell held that the incoming partner will recognize ordinary income to the extent that the partnership interest was received for exchange of the services, but § 721 applies to the portion that was contributed for property. Since we are not given the value of the services and property (building plans), we can know ascertain the amount of his contribution that would be allocated to the services and what amount would qualify for non-recognition. Charlie’s partnership interest after the exchange would be a capital asset. (c) In this case, Charlie has a substantial risk of forfeiture under § 83(a) and will be taxable on any increase of the value of the partnership interest at the time the partnership interest......

Words: 644 - Pages: 3

Kieso, Chapter 1

...CHAPTER 1 FINANCIAL ACCOUNTING AND ACCOUNTING STANDARDS IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual Answer No. Description F 1. Definition of financial accounting. T 2. Purpose of financial statements. T 3. Definition of financial accounting. T 4. Capital allocation process. F 5. Objective of financial reporting. T 6. Decision-Usefulness approach. T 7. Users of financial statements. F 8. Committee on Accounting Procedure. F 9. Passage of FASB standards. T 10. Financial Accounting Concepts. T 11. Creation of Accounting Principles Board. F 12. FASB Codification. T 13. Code of Professional Conduct. F 14. GAAP and political action. T 15. Public Company Accounting Oversight Board. T 16. Expectations gap. F 17. Financial reports. F 18. Fair value information. F 19. International Financial Reporting Standards. F 20. Ethical issues. Multiple Choice—Conceptual Answer No. Description a 21. Financial accounting. d 22. Users of financial reports. d 23. Identify the major financial statements. a 24. Financial reporting entity. d 25. Differences between financial and managerial accounting. b 26. Financial reporting communication. b 27. Managerial accounting. a 28. Capital allocation process. d 29. Efficient use of resources. d 30. Capital allocation process. c 31. Financial statement......

Words: 5644 - Pages: 23