问答题 Questions

1.Accounting has been defined as a service activity.Who is served by accounting and how are they benefited？

2.What are the major objectives of financial reporting as specified by the IASB？

3.Briefly describe the four traditional assumptions that influence the conceptual framework.

4.Identify and describe the underlying assumptions specified by the IASB.

5.Alan Rod has recently completed his first year of accounting study. His instructor for next semester has indicated that the primary focus in the next semester will be the area of financial accounting.

（a）Differentiate between financial accounting and managerial accounting.

（b）One part of financial accounting involves the preparation of financial statements.What are the financial statements most frequently provided？

（c）What is the difference between financial statements and financial reporting？

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[1] AICPA.Statement of the Accounting Principles Board No.4，“Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises，”New York：American Institute of Certified Public Accountants，1970，par. 40.

[2] Suppliers can be also considered creditors when they provide services or materials on account.

[3] AAA.A Statement of Basic Accounting Theory（Evanston），Illinois：American Accounting Association，1966，par.1.

[4] The name“balance sheet”（资产负债表）was changed to“statement of financial position”（财务状况表），“income statement”（利润表） to“statement of profit or loss”（损益表） in IAS 1. But the names is still used in practice. Sometimes，statement of profit or loss is also called statement of operations，statement of earnings，etc.

[5] IASB，2018，Conceptual Framework for Financial Reporting，par. 1.2.

[6] PetroChina Company Limited，2023 annual report，2023-12-31.