Intermediate Accounting 2014 FASB Update August 11, 2014 15 edition by Donald E. Kieso PDF Download

Intermediate Accounting 2014 FASB Update August 11, 2014 15 edition by Donald E. Kieso PDF

Author: Donald E. Kieso | Language: English | ISBN: 1118985311 | Format: PDF

No other text is used in more accounting programs, and by more professionals in the field, than Intermediate Accounting by Kieso, Weygandt, and Warfield. Intermediate Accounting 15th Edition builds student readiness for success in the course, for the CPA exam and for accounting careers. The 2014 FASB Update incorporates the recently issued standard on Revenue from Contracts with Customers in a new Revenue Recognition chapter. Recognized globally for its quality problem-solving material, accuracy and comprehensiveness, Intermediate Accounting 15th Edition Chapters 1-24 helps prepare the next generation of accounting and finance students for the global economy.

Students using WileyPLUS do real accounting and get real results. Automatically graded homework assignments and over 2 hours of video based resources per chapter help students come prepared for quizzes and exams. With access to 1,000 practice CPA exam review questions powered by Wiley CPAexcel, students can check their accounting knowledge against CPA exam standards. Students have a two-week head start on applying to accounting internships with internship listings powered by AccountingFly. WileyPLUS for Intermediate Accounting 15th Edition prepares students for success in the course and in the profession.

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Hardcover: 1608 pages
Publisher: Wiley; 15 edition (August 11, 2014)
Language: English
ISBN-10: 1118985311
ISBN-13: 978-1118985311
Product Dimensions: 8.7 x 2.2 x 10.9 inches
Shipping Weight: 7 pounds (View shipping rates and policies)
Amazon Best Sellers Rank: #79,362 in Books (See Top 100 in Books)

1 Financial Accounting and Accounting Standards
2 Conceptual Framework for Financial Reporting
3 The Accounting Information System
4 Income Statement and Related Information
5 Balance Sheet and Statement of Cash Flows
6 Accounting and the Time Value of Money
7 Cash and Receivables
8 Valuation of Inventories: A Cost-Basis Approach
9 Inventories: Additional Valuation Issues
10 Acquisition and Disposition of Property, Plant, and
Equipment
11 Depreciation, Impairments, and Depletion
12 Intangible Assets
13 Current Liabilities and Contingencies
14 Long-Term Liabilities
15 Stockholders’ Equity
16 Dilutive Securities and Earnings per Share
17 Investments
18 Revenue Recognition
19 Accounting for Income Taxes
20 Accounting for Pensions and Post retirement Benefits
21 Accounting for Leases
22 Accounting Changes and Error Analysis
23 Statement of Cash Flows
24 Full Disclosure in Financial Reporting

Bibliographic information
for 2014 FASB Update Intermediate Accounting
Title 2014 FASB Update Intermediate Accounting
Authors Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Edition 15
Publisher Wiley, 2014
ISBN 1118985311, 9781118985311
Length 1608 pages  

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Ethics (CHAPTER 13)

 Definition
Professional accountant: A member of the ICAEW.

Professional accountants have a responsibility to act in the public interest as well as considering their
client or employer. The Codes require professional accountants to comply with the following five
fundamental principles:
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1.2
Integrity
Objectivity
Professional competence and due care
Confidentiality
Professional behaviour

Integrity
Definition
Integrity: Professional accountants shall be straightforward and honest in all professional and business
relationships.
A professional accountant shall not knowingly be associated with any information where he believes that
the information:
 Contains a materially false or misleading statement
 Contains statements or information furnished recklessly
 Omits or obscures information required to be included where such omission or obscurity would be
misleading.
When a professional accountant becomes aware that he has been associated with such information, he
shall take steps to be disassociated from that information.

Objectivity
Definition
Objectivity: Professional accountants shall not allow bias, conflict of interest or the undue influence of
others to override professional or business judgements.
Relationships that bias or unduly influence the professional judgement of the professional accountant
shall be avoided.
Conflicts of interest are considered in more detail later in this chapter.
1.4
Professional competence and due care
Definition
Professional competence and due care: Professional accountants have a continuing duty to:
 Maintain professional knowledge and skill at the level required to ensure that clients or employers
receive competent professional service based on current developments in practice, legislation and
techniques; and
 Act diligently in accordance with applicable technical and professional standards when providing
professional services.
Competent professional service requires the exercise of sound judgement in applying professional
knowledge and skill. Competence entails:
 Attainment of professional competence; and
 Maintenance of professional competence, requiring a continuing awareness and understanding of
relevant issues.
The professional accountant shall take steps to ensure that those working for him have appropriate
training and supervision.
Any limitations relating to the service being provided must be made clear to avoid misinterpretation.
1.5
Confidentiality
Definition
Confidentiality: Professional accountants shall:

 Respect the confidentiality of information acquired as a result of professional and business
relationships;
 Refrain from disclosing such information without proper and specific authority unless there is a
legal or professional right or duty to disclose; and
 Refrain from using such information for their personal advantage or the advantage of third parties.



A professional accountant shall maintain confidentiality even in a social environment. The professional
accountant shall be alert to the possibility of inadvertent disclosure, particularly in circumstances
involving long association with a business associate or a close or immediate family member.
A professional accountant shall consider the need to maintain confidentiality of information within the
firm. All reasonable steps shall be taken to ensure that staff under the professional accountant's control
and persons from whom advice and assistance is obtained respect the professional accountant's duty of
confidentiality.
A professional accountant shall also maintain confidentiality of information disclosed by a prospective
client or employer.
The need to comply with the principle of confidentiality continues even after the end of relationships
between a professional accountant and a client or employer. When a professional accountant changes
employment or acquires a new client, the professional accountant is entitled to use prior experience.
The professional accountant shall not, however, use or disclose any confidential information either
acquired or received as a result of a professional or business relationship.
Confidentiality is considered later in this chapter.
1.6
Professional behaviour
Definition
Professional behaviour: Professional accountants shall comply with relevant laws and regulations and
avoid any action that discredits the profession.
This includes actions which a reasonable and informed third party, having knowledge of all relevant
information, would conclude negatively affects the good reputation of the profession.
Professional accountants shall conduct themselves with courtesy and consideration towards all with
whom they come into contact and shall not:

 Make exaggerated claims for the services they are able to offer, the qualifications they possess, or
experience they have gained
 Make disparaging references or unsubstantiated comparisons to the work of others