chapter 1 Introduc的tion to Accounting and Business.pptVIP

The Process of Providing Information to Users The Process of Providing Information to Users Business Ethics 商业伦理 Specialized Accounting Fields Financial accounting is primarily concerned with the recording and reporting of economic data and activities for a business. Management (Managerial) accounting uses both financial accounting and estimated data to aid management in running day-to-day operations and in planning future operations. U.S. GAAP SFAS: Statements of Financial Accounting Standards (209) 财务会计准则公告 IFAS: Interpretation of Financial Accounting Standards (48) 财务会计准则解释 TB: Technical Bulletins (55) 技术公报 Accounting Concepts Business entity concept Cost concept Objectivity concept Unit of measure concept Business Entity Concept (经营主体观念) The business entity concept limits the economic data in the accounting system to data related directly to the activities of the business. In other words, the business is viewed as an entity separate from its owners, creditors, or other stakeholders. E.g., accountant would just record the activities of the business only, not the personal activities, property, or debts of the owner. Financial Statements Income statement (损益表)—A summary of the revenue and expenses for a specific period of time. Statement of owner’s equity (业主权益变动表)—A summary of the changes in the owner’s equity that have occurred during a specific period of time. Balance sheet (资产负债表)—A list of the assets, liabilities, and owner’s equity as of a specific date. Statement of cash flows (现金流量表)—A summary of the cash receipts and payments for a specific period of time. b. NetSolutions exchanged $20,000 for land. Chris Clark, Capital 25,000 Cash + Land 25,000 Bal. Assets Owner’s Equity = = b. –20,000 +20,000 Bal. Bal.5,000 20,000 25,000 Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile . Copyright 2004-2011 Aspose Pty Ltd. Accounts Chris Clark, Cash + Supplies