TAILIEUCHUNG - Lecture Principles of financial accouting - Chapter 1: Accounting in business

After completing this chapter you should be able to: Explain the purpose and importance of accounting; identify users and uses of, and opportunities in, accounting; explain why ethics are crucial to accounting; explain generally accepted accounting principles and define and apply several accounting principles. | Chapter 1 Accounting in Business McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 1: Accounting in Business Identifying Select transactions and events Recording Input, measure and classify Communicating Prepare, analyze and interpret Importance of Accounting Accounting C 1 Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization’s business activities. Identifying business activities requires selecting transactions and events relevant to an organization. Recording business activities requires keeping a chronological log of transactions and events measured in dollars and classified and summarized in a useful format. Communicating business activities requires preparing accounting reports such as financial statements. It also requires analyzing and interpreting such reports. Users of Accounting Information External Users Lenders .

• Tài chính doanh nghiệp
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Accounting information
• Financial accounting
• Managerial accounting
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting