By Jerry J. Weygandt
Weygandt's Accounting ideas introduces difficult accounting recommendations with examples which are known to accountants. the recent variation has been up to date with the most recent IFRS/IASB criteria. extra assurance is incorporated on foreign currencies translation and LCM. extra discussions concentrate on chance administration end result of the monetary obstacle. The examples additionally emphasize present examples so as to aid accountants make the relationship to their daily lives.
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Ethics are the standards of conduct by which actions are judged as right or wrong. Effective financial reporting depends on sound ethical behavior.  Explain generally accepted accounting principles. Generally accepted accounting principles are a common set of standards used by accountants.
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Related exercise material: BE1-1, BE1-2, BE1-3, BE1-4, BE1-5, E1-5, E1-6, E1-7, and Do it! 1-2. ● ✔ [The Navigator] Using the Accounting Equation Study Objective  Analyze the effects of business transactions on the accounting equation. Transactions (business transactions) are a business’s economic events recorded by accountants. Transactions may be external or internal. External transactions involve economic events between the company and some outside enterprise. For example, Campus Pizza’s purchase of cooking equipment from a supplier, payment of monthly rent to the landlord, and sale of pizzas to customers are external transactions.
Accounting Principles , Tenth Edition by Jerry J. Weygandt