TAILIEUCHUNG - Lecture Financial accounting (15/e) - Chapter 1: Accounting - Information for decision making

After completing this chapter, students will be able to: Discuss accounting as the language of business and the role of accounting information in making economic decisions, discuss the significance of accounting systems in generating reliable accounting information and understand the five components of internal control, explain the importance of financial accounting information for external parties - primarily investors and creditors - in terms of the objectives and the characteristics of that information,. | Accounting Information for Decision Making Chapter 1 Chapter 1: Accounting—Information for Decision Making Accounting Information The Accounting Process Decision Makers Economic Activities Actions (decisions) Accounting links decision makers with economic activities ¾ and with the results of their decisions. Reported Results of Actions (decisions) Not all transactions entered into by a business entity are capable of being recorded. The first task for accountants is to identify those economic events that can be recorded in the accounting system. Once the necessary economic information has been accumulated in a readable format, decision makers use this information to improve the decision-making process. Decisions made will impact future economic activities which will then find their way into the data accumulation process. Types of Accounting Information Financial Management Tax Broadly speaking, accounting information can be placed into one of three categories: financial, management, and tax. Financial accounting refers to information describing the financial resources, obligations, and activities of an economic entity (either an organization or an individual). Financial accounting information is designed primarily to assist investors and creditors in deciding where to place their scarce investment resources. Management (or managerial) accounting involves the development and interpretation of accounting information intended specifically to assist management in operating the business. A company’s managers and employees constantly need information to run and control daily business operations. Much management accounting information is financial in nature but is organized in a manner relating directly to the decision at hand. Tax accounting is a specialized field within accounting and focuses on the preparation of income tax returns and tax planning strategies. Accounting Systems An accounting system consists of the personnel, procedures, technology, and .

• Kế toán - Kiểm toán
• Financial accounting
• Lecture Financial accounting
• Accounting information
• Accounting systems
• Decision making
• External financial reporting
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Accounting standards
• Financial reporting
• Financial Accounting Standards Board
• Fundamental financial accounting
• Lecture Fundamental financial accounting concepts
• Financial statement
• Accounting cycle
• Accounting for accruals
• Accounting system
• Accounting activities
• Financial accounting practice
• Accounting information system
• Accounting terminology
• Reporting financial results
• Evaluating liquidity
• Business firms
• The financial reporting reform
• Management accounting
• Accounting equation
• Accounting for business
• Lecture Accounting for business
• Financial accounting reports
• Statement of financial performance
• Accrual accounting systems
• Statement of financial position
• Mastering financial accounting essentials
• Financial accounting essentials
• Accrual accounting
• Income statement
• Accounting conventions
• Internal control
• Accounting for cash
• Accounting for receivables
• Computing uncollectible accounts expense
• Long term debt
• Accounting for long term debt
• Paper F3
• Revision kit 2016
• Accounting Financial
• Accounting Financial Review
• Financial Review accounting exam
• Study text 2016
• Language of business
• Double entry accounting system
• Credit terminology
• Merchandising businesses
• Accounting for merchandising businesses
• Accounting for inventories
• Cash discounts
• The accounting cycle
• International financial reporting standards
• Completing the accounting cycle
• Accounting worksheet
• Classified balance sheet