COST ACCOUNTING 1

Its objective is to establish the structure of the financial information standards and define the approach on which the conceptual and particular standards are issued.

• NIF A-1
• NIF A-2
• NIF A-3
• NIF A-4

is used in substitution of "Generally Accepted Accounting Principles

• Financial information rules
• NIF A-5
• NIF A-3
• NIF A-4

NIF A-1 is made up of paragraphs

• 1–64
• 1–65
• 1–66
• 1–67

technique used to record the operations that economically affect an entity and that systematically and structuredly produces financial information

• Accounting
• Management
• NIF A-3
• NIF A-1

The NIFs are made up of ___________ large sections:

• 4
• 3
• 5
• 6

The NIFs large sections:

• Conceptual Financial Reporting Standards or “Conceptual Framework”.
• Particular Financial Reporting Standards or “particular NIF”;
• Interpretations to the NIF
• Guidance to the NIF

The Interpretations to the NIFS are intended to

• clarify or expand topics already contemplated within some NIF
• timely provide guidance on new problems detected in the financial information

coherent system of interrelated goals and foundations, grouped in a logical deductive order

• Conceptual framework
• NIF A-3
• NIF A-4
• timely provide guidance on new problems detected in the financial information

basic postulates of the accounting information system

• NIF A-2
• NIF A-3
• NIF A-4
• NIF A-5

identification of the needs of users and objectives of financial statements

• NIF A-2
• NIF A-3
• NIF A-4
• NIF A-5