1: Rules of the Game
- Page ID
- 62163
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Learning Objectives
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Explain the nature and purpose of United States generally accepted accounting principles (USGAAP) and International Financial Reporting Standards (IFRS)
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Explain and apply the components of the conceptual framework for financial accounting and reporting, including:
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The qualitative characteristics of accounting information
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The assumptions underlying accounting
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The basic principles of financial accounting
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The constraints and limitations on accounting information
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Define and use accounting and business terminology
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