Accounting, 13th - Chapters 1-12) Kieso, Weygandt, Warfield, Wiece...

Intermediate Accounting, 13th Canadian Edition, (Volume 1) Donald Kieso, Jerry Weygandt, Terry Warfield (Solutions Manual All Chapters 1-12) 1 / 4

Kieso, Weygandt, Warfield, Wiecek, McConomy Intermediate Accounting, Thirteenth Canadian Edition Solutions Manual 1-1 Chapter 1 Copyright © 2022 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.

CHAPTER 1

THE CANADIAN FINANCIAL REPORTING

ENVIRONMENT

Learning Objectives

• Understand the financial reporting environment.
• Explain the need for accounting standards and identify the

major entities that influence standard setting and financial reporting.

• Explain the meaning of generally accepted accounting

principles (GAAP) and the significance of professional judgement in applying GAAP.

• Discuss some of the challenges and opportunities for

accounting.

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Kieso, Weygandt, Warfield, Wiecek, McConomy Intermediate Accounting, Thirteenth Canadian Edition Solutions Manual 1-2 Chapter 1 Copyright © 2022 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.

Summary of Questions by Learning Objectives and Bloom’s Taxonomy

Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT Brief Exercises

1. 1 C 7. 1 C 13. 2 C 19. 4 C 25. 4 C

2. 1 C 8. 2 C 14. 3 C 20. 4 C 26. 4 C

3. 1 K 9. 2 C 15. 3 C 21. 4 C 27. 4 C

4. 1 C 10. 2 C 16. 3 C 22. 4 C 28. 4 C

5. 1 C 11. 2 C 17. 3 C 23. 4 C 29. 4 C

6. 2 C 12. 2 C 18. 3 C 24. 4 C

Cases

1. 1 C 2. 1 C 3. 1 C 4. 1 C 5. 1 C

Research and Analysis

1 1 AN 2 2 AN 3 2 C 4 4 AN 5 2 C

6 1 C 7 1 AN 8 1 C 9 4 C 10 1 C

11 2,4 C 12 4 C 13 1 AN 14 4 C

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Kieso, Weygandt, Warfield, Wiecek, McConomy Intermediate Accounting, Thirteenth Canadian Edition Solutions Manual 1-3 Chapter 1 Copyright © 2022 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.

Legend: The following abbreviations will appear throughout the solutions manual

file.

LO Learning objective BT Bloom's Taxonomy K Knowledge C Comprehension AP Application AN Analysis S Synthesis E Evaluation

Difficulty: Level of difficulty

S Simple M Moderate C Complex

Time: Estimated time to complete in minutes

AACSB Association to Advance Collegiate Schools of Business Communication Communication Ethics Ethics Analytic Analytic Tech. Technology Diversity Diversity Reflec. Thinking Reflective Thinking CPA CM CPA Canada Competency Map Ethics Professional and Ethical Behaviour PS and DM Problem-Solving and Decision-Making Comm. Communication Self-Mgt. Self-Management Team & Lead Teamwork and Leadership Reporting Financial Reporting Stat. & Gov. Strategy and Governance Mgt. Accounting Management Accounting Audit Audit and Assurance Finance Finance Tax Taxation DAIS Data Analytics and Information Systems

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