PPT-Wiley CHAPTER 2 2 After studying this chapter, you should be able to:

Indicate the usefulness and describe the main components of a conceptual framework for financial reporting Identify the qualitative characteristics of accounting information Define the basic elements of financial statements. THE NATURE OF MATERIALS. Atomic Structure and the Elements. Bonding between Atoms and Molecules. Crystalline Structures. Noncrystalline (Amorphous) Structures. Engineering Materials. ©2010 John Wiley & Sons, Inc. M P Groover, Principles of Modern Manufacturing 4/e SI Version. Understand . the importance of income taxes from a business perspective.. Explain . the difference between accounting income and taxable income, and calculate . taxable income . and current income taxes.. Chapter 24: The Digestive System. Copyright 2009, John Wiley & Sons, Inc.. 2 groups of organs compose the digestive system. Gastrointenstinal (GI) tract or alimentary canal – mouth, most of pharynx, esophagus, stomach, small intestine, and large intestine. Understand cash and accounts receivable from a business perspective.. Define financial assets, and identify items that are considered cash and cash equivalents and how they are reported.. Define receivables and identify the different types of receivables from an accounting perspective.. Understand . the importance of disclosure from a business perspective.. Review . the full disclosure principle and describe problems of implementation.. Explain . the use of accounting policy notes in financial statement preparation.. Understand . the importance of intangible assets and goodwill from a business perspective.. Define and describe the characteristics of intangible assets.. Identify and apply the recognition and measurement requirements for purchased intangible assets.. Understand . the importance of leases from a business perspective.. Explain . the conceptual nature, economic substance, and advantages of lease transactions.. Identify . and apply the criteria that are used to determine the type of lease for accounting . Understand . the importance of pensions from a business perspective.. Identify . and account for a defined contribution benefit plan.. Identify . and explain what a defined benefit plan is and the related accounting issues.. Understand . the importance of non-financial and current liabilities from a business perspective.. Define . liabilities, distinguish financial liabilities from other liabilities, and identify how . they . Discuss the characteristics of the corporate form of organization, rights of . shareholders, and . different types of shares.. Explain . how to account for the issuance, reacquisition, and retirement of shares, stock . Understand the importance of property, plant, and equipment from a business perspective.. Identify the characteristics of property, plant, and equipment assets.. Identify the recognition criteria for property, plant, and equipment.. Introduction to Operations Management. Operations Management. by. R. Dan Reid & Nada R. Sanders. 4th Edition . ©. Wiley 2010. © Wiley 2010. 2. Operations Management is:. The . Understand . the nature of investments including which types of companies have significant investments.. Explain and apply the cost/amortized cost model of accounting for investments.. Explain and apply the fair value through net income model of accounting for investments.. Understand . what derivatives are and how they are used to manage risks.. Understand . how to account for derivatives.. Analyze . whether a hybrid/compound instrument issued for financing purposes . represents a .