LECTURE ACCOUNTING PRINCIPLES (12TH EDITION): CHAPTER 17 - WEYGANDT, KIMMEL, KIESO

Chapter 1 - Financial accounting and accounting standards. After studying this chapter, you should be able to: Explain how accounting makes it possible to use scarce resources more efficiently, explain the meaning of “stakeholder” and identify key stakeholders in financial reporting, explaining what[r]

Chapter 2 - Conceptual framework underlying financial accounting. After studying this chapter, you should be able to: Describe the usefulness of a conceptual framework, describe efforts to construct a conceptual framework, understand the objective of financial reporting, identify the qualitative cha[r]

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 Similar to GAAP , the cash flow statement can be prepared using either the indirect or direct method under IFRS . In both U.S. and international settings, companies choose for the most part to use the indirect method for reporting net cash flows from operating activities.