TAILIEUCHUNG - Lecture College accounting (13/e): Chapter 1 - Price, Haddock, Farina

Chapter 1 - Accounting: The language of business. After reading this chapter, you should be able to: Define accounting, identify and discuss career opportunities in accounting, identify the users of financial information, compare and contrast the three types of business entities, describe the process used to develop generally accepted accounting principles, define the accounting terms new to this chapter. | 1- McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Accounting: The Language of Business Section 1: What Is Accounting? Chapter 1 Section Objectives Define accounting. Identify and discuss career opportunities in accounting. Identify the users of financial information. How much cash does the business have? How much money do customers owe the business? What is the cost of the merchandise sold? What is the change in sales volume? How much money is owed to suppliers? What is the profit or loss? In running a business, you need answers to questions: QUESTION: What is accounting? ANSWER: Define Accounting Objective 1 Accounting is the process by which financial information about a business is classified, recorded, summarized, interpreted, and communicated to owners, managers and other interested parties. Accounting Clerk Many jobs are available in the accounting profession. Some examples are: Bookkeeper Accountant Identify and discuss career .

• Kế toán - Kiểm toán
• College accounting
• Lecture College accounting
• Financial statement
• Cost accounting
• Language of business
• Financial information
• Job order cost accounting
• Accounting for sales
• Accounts receivable
• Accounting for purchases
• Accounts payable
• Closing procedures
• Accounting cycle
• Accounting principles
• Reporting standards
• Accounting for partnerships
• Allocating income
• Process cost accounting
• Process inventory
• Analyzing business transactions
• Financial interest
• T accounts
• General ledger
• General journal
• The worksheet
• Trial balance
• Closing entries
• Postclosing trial balance
• Cash receipts
• Cash payments
• Payroll computations
• Payroll laws
• Payroll taxes
• Employee income tax
• Recording adjustments
• Uncollectible accounts
• Notes payable
• Notes receivable
• Merchandise inventory
• Inventory costing methods
• Disposition of assets
• Depreciation methods
• Capital stock transactions
• Capital stock
• Corporate earnings
• Capital transactions