Questions from General Accounting

Q: Of the following decision-model advocates discussed in the chapter (

Of the following decision-model advocates discussed in the chapter (Chambers Sterling, Solomons, Bell, and Ijiri), which one stands out as most unlike the others?

Q: Why does it make sense to define materiality from the user’s perspective

Why does it make sense to define materiality from the user’s perspective?

Q: Why does segment disclosure in SFAS No. 131 represent a potential

Why does segment disclosure in SFAS No. 131 represent a potential improvement over segment disclosure in SFAS No. 14?

Q: What does harmonization of accounting standards mean?

What does harmonization of accounting standards mean?

Q: Horngren (1973) argues that accounting policies are a social decision

Horngren (1973) argues that accounting policies are a social decision and a matter of public interest. Evaluate this statement.

Q: Four postulates (going concern, time period, accounting entity,

Four postulates (going concern, time period, accounting entity, and monetary unit) were discussed as part of the basic concepts underlying historical costing. Can any of the principles discussed under...

Q: Would changing the asset definition in the conceptual framework to one concerned

Would changing the asset definition in the conceptual framework to one concerned with property rights have any other ramifications? Discuss.

Q: Discuss the bright line that does or does not distinguish debt and

Discuss the bright line that does or does not distinguish debt and equity classifications.

Q: Do you see any inconsistency in SFAC No. 1, which

Do you see any inconsistency in SFAC No. 1, which sees financial statements as general purpose but geared primarily toward investors and creditors?

Q: Why have mutually unperformed executory contracts traditionally been excluded from financial statements

Why have mutually unperformed executory contracts traditionally been excluded from financial statements? Can this practice be justified in terms of asset and liability definitions? How relevant is thi...