Lesson1 Introduction to Accounting
Lesson2 The Balance Sheet And Double Entry
Lesson3 Current Assets
Lesson4 Long Term Assets
Lesson5 Liabilities
Lesson6 Owner Equity
Lesson7 Income Statement
Lesson8 Statement of Cash Flows
Lesson9 Interpretations of Financial Statements
內容試閱:
Aims:
1. Use accounting vocabulary.
2. Explain what accounting is.
3. Describe the financial accounting and managerial accounting.
4. Use the accounting equation to describe an organizations financial position.
5. Prepare and use the financial statements.
6. Use the accounting equation to analyze business transactions.
7. Explain what the accounting elements are.
1.1 What Is Accounting?
Accounting provides financial information for decision-making in the business world. Accounting is a service-based profession that provides reliable and relevant financial infor- mation useful in making decisions.
There are two broad families of accounting information users:
(1) External;
(2) Internal.
1.2 Financial Accounting and Managerial Accounting
Accounting information that is intended to satisfy the needs of resource owners(external users) is called financial accounting.Owners, investors,creditors, and brokers re- present external usersthey are interested in a company because they have supplied money to the business.
Managerial accounting provides useful information that is needed in operating an organization by internal users. Group of internal users includes managers, employees,and unions that show interest in accounting information due to their direct concern in success- fulness of a business.
1.3 Financial Statements
Businesses convey accounting information to the public through a process known as financial reporting. The central characteristic of external financial reporting is a set of financial statements. The four widely-used financial statements a business enterprise uses are:
(1) Income statement;
(2) Statement of Changes in Equity;
(3) Balance Sheet;
(4) Statement of Cash Flows.
Accounting elements are included in all the statements. There are six main elements: assets, liabilities, equity, revenue, expenses, profit.