ADMS 2511 Lecture Notes - Toronto Stock Exchange, International Accounting Standards Board, International Financial Reporting Standards

• School: York University
• Department: Administrative Studies
• Course: ADMS 2511
• Professor: Songlan Peng

Document Summary

1: nature of financial accounting, definition of financial accounting. Efficient use of resources: capital allocation process. 7: objectives of financial reporting, role of acsb. 14: causes of subprime lending crisis, management bias. Adoption of ifrs: role of osc, definition of gaap, changing nature of the economy. 21: major factors in the reporting environment. Impact of technology on financial reporting: nature of the balanced scorecard , responsibility for financial statements, gaap for private enterprises, reporting principles. Answer d a c a d d c c a c b d d a d d b c d b d c a b a d d b a. The essential characteristic(s) of accounting is (are: communication of financial information to interested persons, communication of financial information about economic entities. c, all of these. identification, measurement, and communication of financial information. the preparation of financial reports.