会计学原理英文版一单元习题.docxVIP

Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organizations business activities. Bookkeeping is the recording of transactions and events and is only part of accounting. An accounting information system communicates data to help businesses make better decisions. Managerial accounting is the area of accounting that provides internal reports to assist the decision making needs of internal users. Internal operating activities include research and development, distribution, and human resources. The primary objective of financial accounting is to provide general purpose financial statements to help external users analyze and interpret an organizations activities. External auditors examine financial statements to verify that they are prepared according to generally accepted accounting principles. External users include lenders, shareholders, customers, and regulators. Regulators often have legal authority over certain activities of organizations. Internal users include lenders, shareholders, brokers and managers. Opportunities in accounting include auditing, consulting, market research, and tax planning. Identifying the proper ethical path is easy. The Sarbanes-Oxley Act (SOX) requires each issuer of securities to disclose whether is has adopted a code of ethics for its senior financial officers and the contents of that code. The fraud triangle asserts that there are three factors that must exist for a person to commit fraud; these factors are opportunity, pressure, and rationalization. The Sarbanes-Oxley Act (SOX) does not require public companies to apply both accounting oversight and stringent internal controls. A partnership is a business owned by two or more people. Owners of a corporation are called shareholders or stockholders. In the partnership form of business, the owners are called stockholders. The balance sheet shows a company s net income or loss due to ea