Introduction & Rule-making

Link to: proquest accounting and tax  with standards

Accounting rule-making   1.  The Evolution of U.S. GAAP   2. The Evolution of U.S. GAAP: The Political Forces Behind Professional Standards     3.  How the U.S. Accounting Profession Got to Where it is Today: Part I   4. How the U.S. Accounting Profession Got to Where it is Today: Part II	Role of Government in Setting Accounting Standards
Accounting Standards Codification  (ASC)
Accounting History Notes      The Origins of Double-Entry	Meaning of GAAP                               Codification section 105-10 FAS No. 162: GAAP Hierarchy     The House of GAAP Remodeling the House of GAAP Principles based vs. Rules based Accounting Standards SEC study on “objective-oriented” standards Comparison of Principles based and Rules based Standards
Accounting Theory vs. Accounting Practice Uses of accounting theory	International accounting             In response to a question regarding IFRS, [Mary] Schapiro [newly appointed SEC chair] said she has concerns with the SEC’s current road map for transitioning U.S. public companies to IFRS.             “I will take a big deep breath and look at this entire area again carefully and will not necessarily feel bound by the existing road map that’s out for comment,” Schapiro said.             Schapiro highlighted her concerns about a lack of consistency in the application of IFRS, the cost for U.S. companies to switch to IFRS from U.S. GAAP and the independence of the International Accounting Standards Board, which she called her “greatest concern” about IFRS. Source:  journalofaccountancy.com
Conceptual Foundations Conceptual Framework History "Financial statements always have been piles of estimates heaped upon a bunch of guesswork. Look through the footnotes to any company's financial statements, and you'll see that estimates are used for everything from loan-loss reserves, to income-tax and stock-option costs, even revenue." Source: Jonathan Weil

Income-General Concepts	Discontinued Operations                         Codification section 205-20      Reporting results of operations--pre-APB No. 30
Combined statement of Income and Retained Earnings	Changes in Accounting                               Codification section 250-10      Changes in Accounting for Changes
Reporting the results of operations:      Codification section 225-20      Clean surplus vs. Dirty surplus	Earnings per share                                              Codification section 260-10 (test No. 1 follows)
Prior Period Adjustments                    Codification section 250-10	Financial reporting and changing prices - FAS 33/89  Codification section 255-10

Balance sheet content	Accounting for Plant Assets Codification sections 845-10,
Assets - Concepts and Definitions	Intangible Assets
Current assets and current liabilities Codification section 210-10	Research and Development Costs (FAS No. 2) IFRS: Research and Development Costs
Reclassification of Short-term Obligations expected to be refinancedCodification section 470-10-45-12-21	Accounting for Leases   Codification section 840-10  (Test No. 2 follows)
Trade receivables-brief review	Accounting for Income Taxes Codification section 740-10 Deferred  Taxes Should be Put to Rest,  by J. Edward Ketz
Interest on Receivables and Payables-APB No. 21 Codification section 310-10-30; section 835-30-25	Accounting for Pension CostsCodification section 715 Keiso Powerpoint Slides on Pensions
Inventories  Codification section 330-10	Accounting for Debt
Accounting for Investments in Common StockCodification section 323-10	Overview pronouncements
Accounting for Marketable Securities--FAS No. 115 Codification section 320-10

still under construction !

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