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Financial Accounting - Lecture 7

Lecture 7 - The Matching Principle and Long-lived Assets

Concepts and Objectives:

1. Understand more applications of the matching principle:
a. Allocating historical costs to future revenues.
b. Accruing expenses related to outstanding obligations.

2. Understand the concept of "Depreciation" and the assumptions used to calculate depreciation.

3. Continue to learn how to reverse engineer related accounting entries from financial statement information.

4. Begin to understand and appreciate the Statement of Cash Flows.

Prof. Richard Frankel, Prof. George Plesko, Prof. Kin Lo
15.515 Financial Accounting, Fall 2003
(Massachusetts Institute of Technology: MIT OpenCourseWare)
http://ocw.mit.edu
Date accessed: 2009-04-30
License: Creative Commons BY-NC-SA

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