385 quiz 1 acct
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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Accounting | The identification, measurement, and communication of financial information about economic entities to interested persons
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Financial Accounting | Externally focused, must follow externally imposed rules (GAAP), objective financial, historical orientation
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Management Accounting | internally focused, no mandatory rules, financial and non-financial, emphasis on future
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Objective of Financial reporting | To provide financial information that is useful to users and this is decision-useful
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Stakeholders | Investors, Financial Analysts, brokers, lenders, employees and trade unions, suppliers, customers, government and regulatory agencies, donors
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Efficient Markets Hypothesis | Proposes that share prices reflect all information about a company. (i.e. users make capital allocation decisions using all relevant information)
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Management Bias | Income maximization, minimization, smoothing
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
davidvachon1
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