Team 1
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Team 2
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Teams
Name
Score
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The way that most people do something.
Accepted practice
Oops!
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×
monster
Reset all scores!
Oops!
×
star
Double points!
Okay!
×
shark
Other team loses 20 points!
Okay!
×
banana
Go to last place!
Oops!
15
×
People or groups who are not involved with the company
Outside parties
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Check
15
×
IAS
International Accounting Standards
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15
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A firm that sells its share to anyone who wants to buy them.
Publicly-traded company
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15
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What's standard? Accounts should be produced using the same principles from one year to the next year
The matching principle
The going concern principle
The prudence principle
The consistency principle
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15
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What's standard? recognizing expenses immediately, and not recognizing income until it is reasonably certain
The going concern principle
The matching principle
The consistency principle
The prudence principle
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lifesaver
Give 10 points!
Oops!
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gift
Win 25 points!
Okay!
×
shark
Other team loses 20 points!
Okay!
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thief
Give points!
5
10
15
20
25
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eraser
Reset score!
Oops!
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fairy
Take points!
5
10
15
20
25
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fairy
Take points!
5
10
15
20
25
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baam
Lose 25 points!
Oops!
15
×
For example, Australia, the U.K, the U.S.A
English-speaking country
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15
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What's standard? Items are recorded when the income and expense arises, not depend on movement of cash.
The going concern principle
The consistency principle
The prudence principle
The matching principle
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15
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The rules and regulations which state how accountants operate in a particular place.
Local accounting standards
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IASC
International Accounting Standards Committee
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IFRS
International Financial Reporting Standards
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15
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GAAP
Generally Accepted Accounting Principle
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15
×
What's standard? When preparing accounts, one must assume that the company will still be viable in the years to come
The prudence principle
The consistency principle
The going concern principle
The matching principle
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Check
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