Chaper 1 Accounting in Business
Multiple Choice Quiz
1-c; 2-b; 3-d; 4-a; 5-a
Quick Study
QS 1-1
a-E; b-E; c-I; d-E; e-E; f-I; g-E; h-E; i-E; j-E; k-I; l-E
QS 1-2
GAAP: Generally Accepted Accounting Principles
Importance: GAAP are the rules that specify acceptable accounting practices.
SEC: Securities and Exchange Commission
Importance: The SEC is charged by Congress to set accounting and reporting rules for
organizations that sell ownership shares to the public. The SEC delegates part of this
responsibility to the FASB.
FASB: Financial Accounting Standards Board
Importance: FASB is an independent group of full-time members who are responsible for
setting accounting and reporting rules.
IASB: International Accounting Standards Board
Importance: Its purpose is to issue standards that identify preferred practices in the desire of
Chapter 1 A. An example of a business stakeholder is the federal government.
B. A corporation is a business that is legally separate and distinct from its owners.
C. Accounting is a service that provides many different users with financial
information to make economic decisions.
D. Small ethical lapses are harmless in and of themselves.
E. Managerial accounting is primarily concerned with the recording and reporting of
economic data and activities of an entity for use by owners, creditors, governmental
agencies, and the public.
F. The unit of measurement concept requires that economic data be recorded in a
common unit of measurement.
G. If a building is appraised for $90,000, offered for sale at $95,000, and the buyer
pays $85,000 cash for it, the buyer would record the building at $90,000.
H. The owner’s rights to the assets rank ahead of the creditors’ rights to the assets.
F1 : Standard Setting, Income Statement, and Reporting
Requirements
一、Standard Setting
1. Setting Bodies
SEC legal authority to establish GAAP
FASB codification = GAAP single source
注：未包括进codification的就不是GAAP
2. Authoritative Literature included in the codification ------- FEDPRIA
FASB
EITF
APBO(Accounting Principle Board Opinions)
ARB
AI(Accounting Interpretation)
AICPA
持续制定过程：FASB更新
A. Board members多数赞同ED issue
B. ED issue for public comment
C. FASB分析研究公众评论， board redeliberate on the issue
D. FASB repare Accounting Standards Update ----- not authoritative literature
E. memers vote 多数赞同
3. IFRS ---- IASB 制定
IFRIC的作用：provide guidance on newly identified fiancial reporting issues not
addressed in the IFRS and assits the IASB in achieving international convergence of
accounting standards.
第 1 页 共 15 页 会计英语叶建芳答案
会计英语叶建芳答案
>一、课程性质与目标
（一）课程性质
《会计英语》是会计学专业的学科基础课程之一，是为培养既具备
国际相关专业知识和业务技能又具备熟练运用专业英语从事专业工
作的人才而开设的一门专业限选课。本课程的先修课程为会计学原
理，大学英语等。
（二）课程目标
本课程讲授内容基于国际会计准则之下的会计概念、财务报表、流
动资产、长期资产、负债与或有事项、所有者权益以及会计的其他
领域如成本会计，管理会计和审计的概况等。通过本课程的学习， 第 2 页 共 15 页 要求学生了解中国和XX会计处理的相同和不同，掌握基本的会计
处理的英文表达方式，熟练掌握专业的英文术语。通过考核，检查
学生是否具备阅读会计英语文献，基础的专业交流能力，基础的专
业做账能力。为学生今后在外企工作，从事外贸工作打下良好的基
础。
二、考试内容与考核目标
chapter 1 conceptual framework underlying
accounting （一）考试内容
1. definition of accounting
2. objectives of financial accounting
3. the qualitative characteristics of accounting
information
4. the basic elements of financial statements and
equations.
5. the basic accounting assumptions
（二）考核目标 第 3 页 共 15 页 1. to learn objectives of financial accounting 2.
to learn the basic accounting assumptions 3. master
the basic elements of financial statements
