ACCOUNTINGINBUSINESS幻灯片.pptVIP

Chapter 01;IdentifyingSelect transactions and events;USERS OF ACCOUNTING INFORMATION;;OPPORTUNITIES IN ACCOUNTING;ACCOUNTING JOBS BY AREA;Beliefs that distinguish right from wrong;C 3;Financial accounting practice is governed by concepts and rules known as generally accepted accounting principles (GAAP).;The Securities and Exchange Commission is the government agency that establishes reporting requirements for companies that issue stock to the public.;ACCOUNTING ASSUMPTIONS;FORMS OF BUSINESS ENTITIES;* Proprietorships and partnerships that are set up as LLCs provide limited liability. ;Owners of a corporation are called shareholders (or stockholders). Shareholders are not personally liable for corporate acts. When a corporation issues only one class of stock, wecall it common stock (or capital stock).;SARBANES-OXLEY (SOX);TRANSACTION ANALYSIS AND THE ACCOUNTING EQUATION;Land;Taxes Payable;EQUITY;TRANSACTION ANALYSIS EQUATION;TRANSACTION 1: INVESTMENT BY OWNERS;TRANSACTION 2: PURCHASESUPPLIES FOR CASH;TRANSACTION 3: PURCHASEEQUIPMENT FOR CASH;TRANSACTION 4: PURCHASESUPPLIES ON CREDIT;TRANSACTION 5: PROVIDESERVICES FOR CASH;TRANSACTION 6 AND 7: PAYMENTOF EXPENSES IN CASH;SUMMARY OF TRANSACTIONS;FINANCIAL STATEMENTS;The income statement describes a company’s revenues and expenses along with the resulting net income or loss over a period of time due to earnings activities.;;The Balance Sheet describes a company’s financial position at a point in time.;STATEMENT OF CASH FLOWS;DECISION ANALYSIS;1A RETURN AND RISK ANALYSIS;1B - BUSINESS ACTIVITIES AND THE ACCOUNTING EQUATION;END OF CHAPTER 01;Chapter 02;Analyze each transaction and event from source documents;Sales Tickets;An account is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item.;THE ACCOUNT AND ITS ANALYSIS;Land;Accrued Liabilities;EquityAccounts;Liabilities;LEDGER AND CHART OF ACCOUNTS;DEBITS AND CREDITS;Liabilities;Revenues;DOUBLE-ENTRY ACCOUNTING;JOURN