[经济学]Finance Concept Chap001.pptVIP

Chapter 1 Introducing Accounting in Business Conceptual Chapter Objectives C1: Explain the purpose and importance of  accounting in the information age. C2: Identify users and uses of accounting. C3: Identify opportunities in accounting and  related fields. C4: Explain why ethics are crucial to  accounting. C5: Explain GAAP, and define and apply  several key accounting principles. C6: Appendix 1B: Identify and describe the  three major activities of organizations. Analytical Chapter Objectives A1: Define and interpret the accounting  equation and each of its components. A2: Analyze business transactions using the  accounting equation. A3: Compute and interpret return on assets. A4: Appendix 1A: Explain the relationship  between return and risk. Procedural Chapter Objectives P1: Identify and prepare basic financial  statements and explain how they  interrelate. Importance of Accounting Accounting Activities Users of Accounting Information Users of Accounting Information Opportunities in Accounting Accounting Jobs by Area Ethics—A Key Concept Guidelines for Ethical Decisions Generally Accepted Accounting Principles Setting Accounting Principles Principles of Accounting Business Entity Forms Accounting Equation Assets Liabilities Equity Expanded Accounting Equation Transaction Analysis Transaction Analysis Transaction Analysis Transaction Analysis Transaction Analysis Transaction Analysis Transaction Analysis Now, let’s look at transactions involving revenue, expenses and dividends. Transaction Analysis Transaction Analysis Transaction Analysis Financial Statements Let’s prepare the Financial Statements reflecting the transactions we have recorded. Income Statement Statement of Retained Earnings Balance Sheet Statement of Cash Flows Return on Assets (ROA) End of Chapter 1 In the statement of retained earnings, we start with the balance at the beginning of the period, add net income earned during the period, and deduct any dividends paid, resultin