ch1 financial Statement.pptVIP

Chapter 1 THE FINANCIAL STATEMENTS Accounting concepts and principles Accounting equation Financial statements Accounting: The Language of Business What is accounting? The information system that measures business activities, processes that information into reports and financial statements, and communicates the results to decision makers. A continual process of: --Capturing financial data --Organizing it --Producing financial statements Accounting: The Language of Business Financial Statements --Income statement (the statement of operations) --Stateme