F8 Study Cards 11 to 14

 -------------------------refers to how to recognize transactions in the financial statements

What are the 2 types of measurement focus

What are the following

Current Financial resources
Economic Resources

What is curent financial resources

----------------------------------------- are a measurement focus that seeks to value and report fund balances as a measure of available, spendable or appropriable resources

When using the current financial resources types of measurement only ------------------ and liabilities are included on the balance sheet

When using the current financial resources types of measurement only fixed assets and ------------------- are included on the balance sheet

Under current finacial resources the --------------------------- method is used

Under the current financial resources type of measurement focus, what is reported

1.
2. No non-current liabilites are reported

Under the current financial resources type of measurement focus, what is reported

1. no fixed assets are reported
2.

Under the current financial resources type of measurement focus, what is reported

1.
2.

Under the economic resources type of measurement focus, what is reported

Under the economic resources type of measurement focus, what is reported

1. Fixed assets are reported
2.

Under the economic resources type of measurement focus, what is reported

1.
2. Non-current liabilites are reported

Under the economic resources types of measurement focus the ---------- Accual method is used

The--------------------------------------refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. 

---------------------------------------of acocunting is used with the current financial resources measurement focus

---------------------------- basis of accounting is a blend of accual and cash basis accounting concepts

Modified accuarl basis of accounting is what