英文版财务会计第六章.ppt

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英文版财务会计第六章

Objective 1 Nature of A Business 1)What is business? A business is an organization in which basic resources,such as materials and labor,are assembled and processed to provide goods or services (outputs)to customers. Make goods sell goods sell services Types of Business 1)Manufacturing businesses-change basic inputs into products that are sold to individual customers. Example: 2)Merchandising businesses-sell products to customers. Example: 3)Service businesses-provide services rather than products to customers. Example: More than 70% of the businesses in the United States are organized as proprietorships. About 10% of businesses are organized as partnerships. About 20% of businesses are organized as corporations; however, they generate over 90% of the total dollars of business receipts. Objective 2 The Role of Accounting in Business 1)Give an idea of accounting Accounting can be defined as an information system that provides reports to stakeholders about the economic activities and condition of a business. The goal of accounting can be illustrated using the following equation: Goal of Accounting = Record + Report + Interpret economic data for use by decision makers Interested In Reason 1. Owner . . . . . . . .Sales Is advertising effective? Profit Can I take home more money each week? Cash Can I afford to buy more equipment? 2. Investors/Stockholders. . Profit Is my investment making money? Dividends What dividends are being paid? 3. Bankers . . . . Debts Can this business repay a loan? 4. IRS . . . . .Profit What taxes does this business owe? 5. Managers . . Expenses Am I keeping expenses within my budget? Sales

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