Solutions Chapter 01 Intermediate Accounting Vol 1 13th Edition Kieso, Weygandt, Warfield, Wiecek, McConomy

Solutions THE CANADIAN FINANCIAL REPORTING ENVIRONMENT Chapter 01 Intermediate Accounting Vol 1 13th Edition Kieso, Weygandt, Warfield, Wiecek, McConomy 

Learning Objectives
1. Understand the financial reporting environment.
2. Explain the need for accounting standards and identify the
major entities that influence standard setting and financial
reporting.
3. Explain the meaning of generally accepted accounting
principles (GAAP) and the significance of professional
judgement in applying GAAP.
4. Discuss some of the challenges and opportunities for
accounting.

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

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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