TAILIEUCHUNG - Lecture Accounting: What the numbers mean (5/e) - Chapter 2: Financial statements and accounting concepts/principles

After reading this chapter, you should be able to answer the following questions: What are generally accepted accounting principle? What kind of information is reported on each financial statement and how are the financial statements related? What are transactions? What is the meaning and usefulness of the accounting equation? What are meanings of the captions in the financial statements?. | CHAPTER 2 FINANCIAL STATEMENTS AND ACCOUNTING CONCEPTS/PRINCIPLES ©The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin McGraw-Hill/Irwin Learning Objectives 1. What are generally accepted accounting principle? 2. What kind of information is reported on each financial statement and how are the financial statements related? 3. What are transactions? What is the meaning and usefulness of the accounting equation? 4. What are meanings of the captions in the financial statements? McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin Learning Objectives 5. Why is cash flow important? 6. What are the limitations of financial statements? 7. What is an annual report and why is it issued? 8. What are some of the business practices related to organizations? ©The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin McGraw-Hill/Irwin Learning Objective 1 What kind of information is reported on each financial statement and how are the financial statements related? ©The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin McGraw-Hill/Irwin Financial Statements Result of a process that begins with an economic event The event becomes a recorded transaction The transaction becomes part of a firm’s financial statements ©The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin McGraw-Hill/Irwin The Financial Statements Balance Sheet – financial position at the end of the period Income Statement – earnings for the period Statement of Changes in Owners’ Equity – investments by and distributions to owners during the period Statement of Cash Flows – cash flows for the period ©The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin McGraw-Hill/Irwin Transactions Procedures for sorting, classifying, and presenting (bookkeeping) Selection of alternative methods of reflecting the effects of certain transactions (accounting) Financial statements Process ©The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin McGraw-Hill/Irwin Learning Objective 2 What are transactions? .

• Kế toán - Kiểm toán
• Lecture Accounting
• Cost analysis
• What the numbers mean
• Financial statements
• Accounting concepts
• Counting principles
• Financial accounting
• Lecture Financial accounting
• Accounting information
• Management accounting
• Accounting standards
• Accounting equation
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting process
• Accounting processing cycle
• Managerial accounting
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Merchandising operations
• Lecture Accounting 1
• Accounting for main transactions
• Accounting for purchases
• Accounting for sales
• Accounting for expenses
• Principle of accounting
• Lecture Principle of accounting
• The basic accounting equation
• Transaction analysis in accounting equation
• Calculate the accounting equation
• Lecture Advanced financial accounting
• Bài giảng Kế toán tài chính nâng cao
• Advanced financial accounting
• Accounting policies
• Accounting estimate
• Retrospective application
• Changes in accounting estimates
• Retrospective restatements
• Accounting assumptions
• Lecture Management accounting
• Bài giảng Kế toán quản trị
• Nature of management accounting
• Component of accounting system
• Financial system
• Lecture Accounting and financial system
• Ledger accounting
• Trial balance
• Completing the accounting cycle
• Accounting cycle
• Accounting worksheet
• Classified balance sheet
• Accounting changes
• Error corrections
• Accounting choices
• Accounting for business
• Lecture Accounting for business
• Accounting entity
• Classification of assets
• Accounting equation transactions