Intermediate Financial Accounting 

Conceptual Framework

Conceptual Framework, FASB and qualitative characteristics of accounting 

Accounting Standards Setting 

Describes how Accouting Standards are set. 

Accounting Cycle

Review of the Accounting

Cycle 

Full Disclosure

Reviews the Notes

and Footnote Disclosures of the 

Financial Statements

Balance Sheet

Reviews the

Balance

Sheet

Income Statement

Reivew the

Income Statement or

P&L 

SRE & OCI

Statement of Retained Earnings (SRE) & Other Comprehensive Income (OCI)

Revenue Recognition

Reviews the updated 

Revenue Recognition

Rules

Profitability Ratios

Reviews

Profitability

Ratios

TVM

Time

Value of

Money

Cash & AR 

Reviews Cash 

& 

Accounts Receivables (AR)

Inv. Measurement

Reviews Inventory Measurement

Inventory Issues

Reviews additional

Inventory

Issues

Acquire & Dispose PPE

Review Acquisition and Disposition of Property Plant & Equipment

Depr & Amortization

Depreciation,

Impairments and

Depletion 

Supplemental

Supplemental

Resources

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