TAILIEUCHUNG - Lecture Principles of accounting (2005): Chapter 3 - Needles, Powers, Crosson

Chapter 3 - Measuring business income. This chapter defines the concept of business income, discusses the role of adjusting entries in the measurement of income, and demonstrates the preparation of financial statements. | Measuring Business Income Multimedia Slides by: Gail A. Mestas, MAcc, New Mexico State University Chapter 3 Learning Objectives Define net income and its two major components, revenues and expenses. Explain how the income measurement issues of accounting period, continuity, and matching are resolved. Define accrual accounting and explain two broad ways of accomplishing it. Learning Objectives (cont’d) State four principal situations that require adjusting entries and prepare typical adjusting entries. Prepare financial statements from an adjusted trial balance. Supplemental Objective Analyze cash flows from accrual-based information. Profitability Measurement: The Role of Business Income Objective 1 Define net income and its two major components, revenues and expenses Profitability is the ability to earn enough income to attract and hold investment capital Profitability is a major goal of a business For a business to survive, it must earn a profit The term profit has many meanings

• Kế toán - Kiểm toán
• Principles of accounting
• Lecture Principles of accounting
• Nguyên lý kế toán
• Financial statements
• Measuring business income
• Business income
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• 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