聽聽聽聽 The goal of the InternationalAccounting Standards Board (IASB) is to have one set ofhigh-quality accounting standards which are uniformly used bybusiness firms all over the world. Thedream seems not so far frombeing fulfilled because about 120 countries have already adoptedorconverged to international financial reporting standards (IFRS)throughout the world. Thanks tothe rapid adoption of or convergencetoward the IFRSs, more and more accounting courses areofferedacross the countries to tea

Chapter1 INTRODUCTION TO FINANCIAL ACCOUNTING 1.1 SCOPE AND PURPOSE OF FINANCIAL ACCOUNTING 1.2 OTHER BRANCHES OF ACCOUNTING 1.3 ACCOUNTING CAREER OPPORTUNITIES 1.4 TYPES OF BUSINESS ENTITY 1.5 BUSINESS ACTIVITIES 1.6 UNDERLYING CONCEPTS OF FINANCIAL ACCOUNTING 1.7 THE ACCOUNTING EQUATION QUESTIONS EXERCISESChapter2 FINANCIAL STATEMENTS 2.1 INTRODUCTION 2.2 CASH BASIS VERSUS ACCRUAL BASIS OF ACCOUNTING 2.3 INCOME STATEMENT 2.4 STATEMENT OF FINANCIAL POSITION 2.5 CLASSIFIED FINANCIAL STATEMENTS QUESTIONS EXERCISESChapter3 RECORDING TRANSACTIONS 3.1 INTRODUCTION 3.2 ACCOUNTING CYCLE 3.3 THE ACCOUNT 3.4 TWO ACCOUNTING BOOKS: JOURNAL AND LEDGER 3.5 CHART OF ACCOUNTS 3.6 RECORDING TRANSACTIONS 3.7 TRIAL BALANCE QUESTIONS EXERCISESChapter4 ADJUSTING AND CLOSING ENTRIES 4.1 INTRODUCTION 4.2 PREPAID EXPENSES 4.3 UNEARNED REVENUES 4.4 TWO WAYS OF RECORDING DEFERRALS 4.5 ACCRUED EXPENSES 4.6 ACCRUED REVENUES 4.7 DEPRECIATION 4.8 CL