TAILIEUCHUNG - Lecture Financial accounting: Tools for business decision making - Chapter 1: Introduction to financial statements

Chapter 1 - Introduction to financial statements. This chapter’s objectives are to: Identify the forms of business organization and the uses of accounting information, explain the three principal types of business activity, describe the four financial statements and how they are prepared. | Introduction to Financial Statements Kimmel ● Weygandt ● Kieso Financial Accounting, Eighth Edition 1 CHAPTER OUTLINE Identify the forms of business organization and the uses of accounting information. 1 Explain the three principal types of business activity. 2 LEARNING OBJECTIVES Describe the four financial statements and how they are prepared. 3 LEARNING OBJECTIVE LO 1 FORMS OF BUSINESS ORGANIZATION Identify the forms of business organization and the uses of accounting information. 1 USERS AND USES OF FINANCIAL INFORMATION Internal Users Illustration 1-1 Questions that internal users ask LO 1 ACCOUNTING ACROSS THE ORGANIZATION Owning a Piece of the Bar The original Clif Bar® energy bar was created in 1990 after six months of experimentation by Gary Erickson and his mother in her kitchen. Today, the company has almost 300 employees and is considered one of the leading Landor’s Breakaway Brands®. One of Clif Bar & Company’s proudest moments was the creation of an employee stock .

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