I’m working on a Accounting exercise and need support.
Using the Excel file provided below as a starting point, or by creating your own Excel file, complete the following problem, and submit your assignment as an attachment here. Be sure to save your work before you submit, and present your work in a reasonable format with major answers highlighted. Because you have plenty of time to do this assignment, and given that the textbook is available for your use, this assignment should really be close to perfect.
Here is the problem:
This is a matching exercise. The 10 numbered items listed below are explanations of specific terms and/or concepts pertained to the conceptual framework of accounting.
1Information is free of measurement method bias 2
The benefits exceed the costs
When information improves user’s ability to predict outcomes of events
Broad overriding goals sought by accountants engaging in financial reporting
5When information is pertinent or bears on a decision6The characteristics that accounting information should possess to be useful in decision making7When accounting statements on economic activity correspond to the actual underlying activity8When information is provided soon enough that it may be considered in decision making9Requires a company to use the same accounting principles and reporting practices throughout time.10When information faithfully depicts for users what it purports to represent
The lettered items below are specific terms or concepts pertaining to the conceptual framework of accounting.
AReliabilityBTimelinessCQualitative characteristicsDFinancial reporting objectivesECost-benefitFNeutralityGPredictive valueHRelevanceIFaithful representationJConsistency
Required: On the form provided, match the items in the two lists above by placing the number and the term or concept in the spaces provided. (Please note that none of the terms are used twice, and all 10 items should be matched.)
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