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教学课件课件PPT医学培训课件教育资源教材讲义
Chapter 03 - Basic Accounting Concepts: The Income Statement
1
PAGE
CHAPTER 1
THE NATURE AND PURPOSE OF ACCOUNTING
Changes from Twelfth Edition
The chapter has been updated.
Approach
On the first day, the usual objective is to create interest in the subject, to set the scene, and to give an overview of the course. The first part of the chapter does this. The second part of the chapter gives a fairly specific introduction to the nature of financial accounting. Instructors probably may want to bring in material from their own reading or experience to make the introductory points.
Cases
The cases are intended to get the student to start thinking like accountants and users of accounting information, without knowledge of any of the techniques. Ribbons an’ Bows gives students an opportunity to construct a simple set of financial statements. Kim Fuller can be used as a springboard for any type of discussion: uses of information by various parties, the cost of record keeping, or even the development of a complete accounting system. Baron Coburg illustrates practically all of the basic accounting concepts, without naming them. It is a difficult case, but enlightening, even for those with some prior accounting training.
Problems
Problem 1-1
CHARLES COMPANY BALANCE SHEET AS OF DECEMBER 31, .
Assets
Liabilities and Owners’ Equity
Cash
$ 12,000
Bank loan
$ 40,000
Inventory
95,000
Owners’ Equity
Other assets
13,000
Owners’ equity
80,000
Total assets
$120,000
Total liabilities and owners’ equity
$120,000
This problem can be used to explain certain accounting presentation conventions. For example, the use of double lines to underscore a total, the position of the dollar sign at the top of a column of numbers, and the dating of the balance sheet.
The purpose of this problem is to illustrate the equality of the basic accounting equation: assets equal liabilities plus owners’ equity.
Problem 1-2
The missing numbers are:
Year 1
Noncurrent assets
$410,976
Noncurrent li
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