会计英语一 概论.ppt

Unit One Introduction Objectives: 1 Describe the nature of business and the role of accounting in business. 2 Grasp the definition of accounting. 3 Kwon about the information users of accounting. 一 What is accounting? ------- “language of business” Information system: business activities (monetary terms) 1 identify 2 record 3 communicate 4 report Accounting is an information system that provides reports to stakeholders about the economic activities and condition of a business. 二 Distinction between bookkeeping and accounting Bookkeeping: enter data into financial record books (keep the books of accounts , unchanged work) Accounting: analyze and interpret business transactions and events. (sophisticated; “art”) 三 Nature of a business 1 Business --------- organization which make the use of basic resources (input) to provide goods or services (outputs) to customers. Objective :maximize profits. 2 Organization of business They are commonly organized as: (1)proprietorship : owned by one individual (2)partnership : owned by two or more (3)corporation : owners or stockholders a separate legal taxable entity. The ownership of a corporation is divided into shares of stock. (4) limited liability corporation: 1) combines attributes of a partnership and a corporation in that it is organized as a corporation. 2) but it taxed as a partnership. 3) its owners liability is limited to their investment. 4) income is taxed on their individual tax returns. 3 Types of business: (1)manufacturing businesses (2)merchandising businesses (3)service businesses 4 fields of accounting: (1) public (CPA, AICPA) (2) private (CIA, CMA) (3) governmental 5 profession of accounting : (1) (FA) financial accounting: external (2) (MA) management (managerial) accounting: internal 四 Information users 1 investors 2 creditors 3 govern