会计英语课件-1补充.pptVIP

CHAPTER 1;ACCOUNTING - THE BASIS OF DECISION MAKING;THE ACCOUNTING SYSTEM: THE FLOW OF INFORMATION;ACCOUNTING VS. BOOKKEEPING;Individuals Businesses Investors and Creditors Government Regulatory Agencies Taxing Authorities Nonprofit Organizations ;Financial accounting provides information to managers and people outside the firm Financial accounting information must meet certain standards of relevance and reliability Management accounting generates confidential information for internal decision makers, e.g., Top executives Department heads ;ETHICAL CONSIDERATIONS;TYPES OF BUSINESS ORGANIZATIONS;TYPES OF BUSINESS ORGANIZATIONS;TYPES OF BUSINESS ORGANIZATIONS;ACCOUNTING PRINCIPLES AND CONCEPTS;ACCOUNTING PRINCIPLES AND CONCEPTS;KEY ACCOUNTING ORGANIZATIONS;ACCOUNTING PRINCIPLES AND CONCEPTS;ACCOUNTING PRINCIPLES AND CONCEPTS;ACCOUNTING PRINCIPLES AND CONCEPTS;THE ACCOUNTING EQUATION;Assets are the economic resources of a business that are expected to be of benefit in the future Claims to assets come from Liabilities Economic obligations - debts payable to outsiders, called creditors Owners’ equity (capital) Assets held by the owners of the business;For a corporation, stockholders’ (owners’) equity consists of two main categories Paid-in capital Retained earnings ;Paid-in (contributed) capital is The amount invested in the corporation by its owners Comprised basically of common stock;Retained earnings Is the amount earned by income-producing activities and kept for use in the business Is affected by Revenues - increases in retained earnings from delivering goods or services Expenses - decreases in retained earnings that result from operations;Net income (net earnings) Total revenues exceed total expenses Net loss Total expenses exceed total revenues Dividends Distributions to stockholders (usually cash) generated by net income;Beginning Balance of Retained Earnings;The owners’ equity of proprietorships and partnerships Makes no distinction between paid-in capital