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Finanacial Accounting Ch3

Finanacial Accounting Ch3

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Published by Khan Mohammad

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Categories:Types, Business/Law
Published by: Khan Mohammad on Feb 17, 2012
Copyright:Attribution Non-commercial

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02/17/2012

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Copyright©2001 by HoughtonMifflin Company. All rights reserved.1
Financial AccountingFinancial Accounting
Belverd E. Needles, Jr.Belverd E. Needles, Jr.Marian PowersMarian Powers
-----------Multimedia Slides by:Dr. Howard A. Kanter, CPA
DePaul University
Milton M. Pressley
University of New Orleans
 
Copyright©2001 by HoughtonMifflin Company. All rights reserved.2
Ch
apter 3
Ch
apter 3Measuring Business IncomeMeasuring Business Income
Belverd E. Needles, Jr.Belverd E. Needles, Jr.Marian PowersMarian Powers
-----------Multimedia Slides by:Dr. Howard A. Kanter, CPA
DePaul University
Milton M. Pressley
University of New Orleans
 
Copyright©2001 by HoughtonMifflin Company. All rights reserved.3
LE
ARNING OBJ
E
CT
IV
ESLE
ARNING OBJ
E
CT
IV
ES
1
.Define
net income
and its two majorcomponents,
revenues
and
expenses .
2.Explain the difficulties of incomemeasurement caused by:
(a) the accounting period issue,(b) the continuity issue,(c) the matching issue.
3.Define
accrual accounting 
and explaintwo broad ways of accomplishing it.

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