财务会计 第一节the financial statements.pptVIP

Learning Objective 1 Accounting Language Accounting Language Financial Statements: Financial information about a business entity that is prepared in a systematic report format that can be used by decision makers to make decisions The Flow of Accounting Information Users of Financial Statements Financial Accounting Summarize business transactions of business entity for a specified period Management Accounting Financial and operating data about an organization’s activities, processes, operating units products services and customers Ethics in Accounting Information must be: Relevant Ethics in Accounting Integrity is built in financial accounting as follows: Ethics in Accounting and Business How to Organize a Business Corporations Stocks How to Do Accounting:Principles and Concepts GAAP International Accounting Standards Board (IASB) Learning Objective 2 Conceptual Framework GAAP Requirements for Financial Information GAAP requires: The Business Entity Concept The Cost Principle The Going-Concern Concept The Objectivity Principle Adequate Disclosure The Stable-Monetary-Unit Concept Learning Objective 3 The Accounting Equation The Accounting Equation The Accounting Equation The Accounting Equation The Accounting Equation The Accounting Equation: Net income Components of Retained Earnings Learning Objective 4 The Financial Statements Information Reported on the Financial Statements Information Reported on the Financial Statements The Balance Sheet:Measuring Operating Performance The Income Statement:Measuring Operating Performance The Cash Flow Statement Learning Objective 5 Relationships Among the Financial Statements Starting a Business Example: Hot Dog Vendor Owner(s) provide the funds These funds are used by the managers of the company to buy Equipment Inventory Other Assets Hotdog Business Determine Business Structure: - proprietorship - partnership - corporation Hotdog Business Administrative Requirements Register business with local business au