TAILIEUCHUNG - Lecture Survey of accounting (3/e) - Chapter 1: An introduction to accounting

After you have mastered the material in this chapter, you will be able to: Explain the role of accounting in society; construct an accounting equation using elements of financial statement terminology; record business events in general ledger accounts organized under an accounting equation; classify business events as asset source, use, or exchange transactions; use general ledger account information to prepare four financial statements; record business events using a horizontal financial statements model. | McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 1: An Introduction to Accounting Explain the role of accounting in society. Construct an accounting equation using elements of financial statement terminology. Record business events in general ledger accounts organized under an accounting equation. Classify business events as asset source, use, or exchange transactions. Use general ledger account information to prepare four financial statements. Record business events using a horizontal financial statements model. Learning Objectives In this chapter, the learning objectives are: Explain the role of accounting in society. Construct an accounting equation using elements of financial statement terminology. Record business events in general ledger accounts organized under an accounting equation. Classify business events as asset source, use, or exchange transactions. Use general ledger account information to prepare four financial .