Accounting
1-1
CHAPTER 1
Financial Accounting and Accounting Standards
ASSIGNMENT CLASSIFICATION TABLE
Topics Questions Cases
1. Subject matter of accounting. 1 1
2. Environment of accounting. 2, 3, 4 3, 4
3. Role of principles, objectives,
standards, and accounting theory.
5, 6, 7 2
4. Historical development of accounting
standards.
8, 9, 10, 11, 12 5, 16
5. Authoritative pronouncements and
standards-setting bodies.
13, 14, 15, 16,
17, 18, 19, 20,
21, 22, 23, 24
6, 7, 8, 9, 10, 11,
12, 15, 16
6. Role of pressure groups. 25, 26, 27, 28, 29 17, 18
7. International accounting. 30 14
8. Ethical issues. 31 13
1-2
ASSIGNMENT CHARACTERISTICS TABLE
Item Description
Level of
Difficulty
Time
(minutes)
C1-1 Financial accounting. Simple 15-20
C1-2 Objectives of financial reporting. Moderate 20-25
C1-3 Accounting numbers and the environment. Simple 10-15
C1-4 Need for accounting standards. Simple 15-20
C1-5 AICPA’s role in standards setting. Simple 20-25
C1-6 FASB role in standards setting. Simple 20-25
C1-7 Government role in standards setting. Simple 10-15
C1-8 Politicalization of standards setting. Complex 30-40
C1-9 Models for setting accounting standards. Simple 15-20
C1-10 Standards-setting terminology. Moderate 30-40
C1-11 Accounting organizations and documents issued. Simple 15-20
C1-12 Accounting pronouncements. Simple 10-15
C1-13 Issues involving standards setting. Complex 20-25
C1-14 Securities and Exchange Commission. Moderate 30-40
C1-15 Standards-setting process. Moderate 25-35
C1-16 History of standards-setting organizations. Moderate 25-35
C1-17 Economic Consequences. Moderate 25-35
C1-18 Standards-setting process, economic consequences. Moderate...
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