TELLS ABOUT ECONOMIC RESOURCES, CLAIMS TO RESOURCES, AND CHANGES IN...

3. - SOLUTION MANUAL FOR FINANCIAL ACCOUNTING 2ND EDITION BY SPICELAND 3. - SOLUTION MANUAL FOR FINANCIAL ACCOUNTING 2ND EDITION BY SPICELAND
SOLUTION MANUAL FOR FINANCIAL ACCOUNTING 2ND EDITION BY SPICELAND
3. tells about economic resources, claims to resources, and changes in resources and claims.Answers to Review Questions (continued)

Question 1-27

The benefits to obtaining a degree in accounting include a wide variety of job opportunities,high demand, and high salaries. Public accounting firms are professional service firms thattraditionally have focused on three areas: auditing, tax preparation/planning, and businessconsulting. Private accounting means providing accounting services to the company that employsyou. Traditional careers include auditor, tax preparer, consultant, and basic accounting services.Accountants are now expanding into financial analysts, forensic accountants, tax lawyers, FBIagents, and many others.

Question 1-28

Relevance and faithful representation are the two primary qualitative characteristics. Relevanceimplies that information is useful to the decision at hand. Faithful representation indicates thatinformation accurately represents the underlying activity.

Question 1-29

The two components of relevance include: