The Canadian Financial Reporting Environment
Kieso, Weygandt, Warfield, Young, Wiecek, McConomy
Intermediate Accounting, Tenth Canadian Edition
CHAPTER 1
THE CANADIAN FINANCIAL REPORTING
ENVIRONMENT
ASSIGNMENT CLASSIFICATION TABLE
Topic
Brief Exercises
Writing
Assignments
1.
Financial statements and financial reporting.
2.
Capital allocation.
1
4
3.
Stakeholders.
2
4
4.
Objectives of financial reporting.
3
5.
Management bias in financial reporting.
1
6.
Importance of user needs in financial reporting.
1, 2, 7
7.
Need for accounting standards.
6, 7
8.
Parties involved in standard-setting.
8, 9, 10, 11, 12, 3, 6
13, 14, 15
9.
GAAP.
16, 17, 18
6,
10.
Professional judgement.
19, 20
6
11.
Ethical issues.
21, 22, 23
5
12.
Challenges facing financial accounting
20, 24, 25
5, 7
13.
Information Assymetry
4, 5
1, 2, 7
Solutions Manual
1-1
Chapter 1
Copyright © 2013 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.
Kieso, Weygandt, Warfield, Young, Wiecek, McConomy
Intermediate Accounting, Tenth Canadian Edition
CASES
See the Case Primer on the Student Website as well as the summary case primer in the front of the text. Note that the first few chapters of the text lay the foundation for financial reporting decision-making. Therefore the cases in the first few chapters (1–5) are shorter with less depth. As such, they may not cover all aspects of a full-blown case analysis.
CA 1-1 POPOVICH
Overview:
-
Reported net income a key focus for management – represents a reporting bias.
Controller (Paula) is concerned about doing the right thing – not just doing what is required under GAAP.
Analysis and Recommendation:
-
-
GAAP constrained companies must adopt new standards as prescribed in the CICA Handbook (publicly accountable entities follow IFRS which is
Intermediate Accounting, Tenth Canadian Edition
CHAPTER 1
THE CANADIAN FINANCIAL REPORTING
ENVIRONMENT
ASSIGNMENT CLASSIFICATION TABLE
Topic
Brief Exercises
Writing
Assignments
1.
Financial statements and financial reporting.
2.
Capital allocation.
1
4
3.
Stakeholders.
2
4
4.
Objectives of financial reporting.
3
5.
Management bias in financial reporting.
1
6.
Importance of user needs in financial reporting.
1, 2, 7
7.
Need for accounting standards.
6, 7
8.
Parties involved in standard-setting.
8, 9, 10, 11, 12, 3, 6
13, 14, 15
9.
GAAP.
16, 17, 18
6,
10.
Professional judgement.
19, 20
6
11.
Ethical issues.
21, 22, 23
5
12.
Challenges facing financial accounting
20, 24, 25
5, 7
13.
Information Assymetry
4, 5
1, 2, 7
Solutions Manual
1-1
Chapter 1
Copyright © 2013 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.
Kieso, Weygandt, Warfield, Young, Wiecek, McConomy
Intermediate Accounting, Tenth Canadian Edition
CASES
See the Case Primer on the Student Website as well as the summary case primer in the front of the text. Note that the first few chapters of the text lay the foundation for financial reporting decision-making. Therefore the cases in the first few chapters (1–5) are shorter with less depth. As such, they may not cover all aspects of a full-blown case analysis.
CA 1-1 POPOVICH
Overview:
-
Reported net income a key focus for management – represents a reporting bias.
Controller (Paula) is concerned about doing the right thing – not just doing what is required under GAAP.
Analysis and Recommendation:
-
-
GAAP constrained companies must adopt new standards as prescribed in the CICA Handbook (publicly accountable entities follow IFRS which is