Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the...

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Introduction to Accounting

Transcript of Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the...

Page 1: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.

Introduction to Accounting

Page 2: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.

Definition of Accounting

Accounting is a language of business.

As the American Accounting Association: “ accounting is the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information.”

An accountant is an information specialist.

Page 3: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.

Who use accounting

Nonprofit and profit OrganizationsFederal government bureauCompaniesSmall businesses

Page 4: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.
Page 5: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.

Financial statements

P/L statementBalance sheetCash flow statement

Page 6: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.

Friends CompanyIncome Statement

For the Period Ended 20X6   

Revenue (i.e., assets increase) 3,000

Expenses (i.e., assets decrease) (1,000)Net Income (i.e., change in net assets)  $  2,000

Page 7: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.

Friends CompanyBalance Sheet

Period Ended 20X6Assets $8,500

Total Assets 8,500

   

Liabilities 2,000

Equity  

      Contributed Capital 5,000

      Retained Earnings 1,500

Total Equity 6,500

   Total Liability and Equity (Claims) 8,500

Page 8: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.

Friends CompanyStatement of Cash Flows

For the Period Ended 20X6Cash Flows from Operating Activities  

      Cash Receipts from Revenue $3,000      Cash Payments for Expenses (1,000)Net Cash Flow from Operating Activities 2,000

   Cash Flows from Investing Activities 0

   Cash Flows from Financing Activities  

     Cash Receipts from Borrowing 2,000     Cash Receipts from Capital Acquisitions 5,000

     Cash Payments for Distributions (500)Net Cash Flow from Financing Activities 6,500

   Net Increase in Cash 8,500Plus: Beginning Cash Balance 0

   Ending Cash Balance $8,500

Page 9: Introduction to Accounting. Definition of Accounting Accounting is a language of business. As the American Accounting Association: “ accounting is the.

Summary

Accounting is a standard language of measuring financial performance by a variety of organizations. Accounting follows GAAP, which are guidelines for measuring and presenting financial information on a fair, consistent, and straightforward basis.


jupiter.plymouth.edujupiter.plymouth.edu/~harding/FINANCE/SketchesII/... · Web viewNote: the word ”current” in this context refers to the accounting definition. That is, current

jupiter.plymouth.edujupiter.plymouth.edu/~harding/FINANCE/SketchesII/... · Web viewNote: the word ”current” in this context refers to the accounting definition. That is, current

Accounting Definition - miu.by · Marketing Creditors Accounting definitionAccounting definition Accounting users: Accounting users: IllustrationIllustration. User Usage 1. Government

Accounting Definition - miu.by · Marketing Creditors Accounting definitionAccounting definition Accounting users: Accounting users: IllustrationIllustration. User Usage 1. Government

Ch3: Software Engineering Principles 1 What is a principle? Definition: Goals of accounting principles: Goals of software engineering principles?

Ch3: Software Engineering Principles 1 What is a principle? Definition: Goals of accounting principles: Goals of software engineering principles?

DISCIPLINE TITLE PREFIX PREFIX DEFINITION … Discipline...DISCIPLINE TITLE PREFIX PREFIX DEFINITION SCNS STAFF ACCOUNTING ACG ACCOUNTING: GENERAL SANGEETHA WOLLET ACCOUNTING ACO ACCOUNTING:

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Accounting Period Cycle Type Definition Here Page 152.

Accounting Period Cycle Type Definition Here Page 152.

ACCOUNTING HISTORY AND ACCOUNTING PROGRESS · PROGRESS IN HISTORY AND HISTORY AS PROGRESS A dictionary definition of progress is: ... As a philosophical idea, progress is particularly

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definition of accounting

definition of accounting

Advanced Management Accounting - KASNEB NOTES · Definition of accounting Accounting is the process of identifying measuring and communicating economic information to permit informed

Advanced Management Accounting - KASNEB NOTES · Definition of accounting Accounting is the process of identifying measuring and communicating economic information to permit informed

DEFINITION AND SCOPE ACCOUNTING STANDARDS.

DEFINITION AND SCOPE ACCOUNTING STANDARDS.

Does the SOX Definition of an Accounting Expert …faculty.wwu.edu/dunnc3/rprnts.accountingexpert.pdfDoes the SOX Definition of an Accounting Expert Matter? 829 measure as well as

Does the SOX Definition of an Accounting Expert …faculty.wwu.edu/dunnc3/rprnts.accountingexpert.pdfDoes the SOX Definition of an Accounting Expert Matter? 829 measure as well as

Topic 1 - Definition of Accounting

Topic 1 - Definition of Accounting

Introduction to Management Accounting. © Edited by Ahmad Zahiruddin Yahya 2012 2 Management Accounting Definition of Accounting ? Definition of Financial.

Introduction to Management Accounting. © Edited by Ahmad Zahiruddin Yahya 2012 2 Management Accounting Definition of Accounting ? Definition of Financial.

Bba i ita u 1.1 definition of accounting

Bba i ita u 1.1 definition of accounting

International comparison of insurance taxation - PwC · General insurance – overview Definition Accounting Definition of property and ... Allowed in accordance with accounting principles.

International comparison of insurance taxation - PwC · General insurance – overview Definition Accounting Definition of property and ... Allowed in accordance with accounting principles.

A Forensic Accounting Perspective - KPK · Definition •Forensic and investigative accounting is the application of financial skills and an investigative mentality to unresolved

A Forensic Accounting Perspective - KPK · Definition •Forensic and investigative accounting is the application of financial skills and an investigative mentality to unresolved

PREPARED BY: MUKHTAR KHATTAK SUBJECT: FINANCIAL ACCOUNTING Definition of Accounting Accounting is the language of business.

PREPARED BY: MUKHTAR KHATTAK SUBJECT: FINANCIAL ACCOUNTING Definition of Accounting Accounting is the language of business.

hicascommercecs.files.wordpress.com · Web viewUnit No. Topics. Hours. Unit I. Accounting- Origin- Definition, Types of Accounts- Accounting Rules- Fundamentals of Book Keeping –

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Budget to Actual Cuff Account Dashboard. Definition of Cuff Accounting: A term used to describe single entry accounting methods. Single entry accounting.

Budget to Actual Cuff Account Dashboard. Definition of Cuff Accounting: A term used to describe single entry accounting methods. Single entry accounting.

Introduction to Management Accounting and Control · 2 Chapter 1 Introduction to Management Accounting and Control The Concepts of Management, Accounting, and Control A Definition

Introduction to Management Accounting and Control · 2 Chapter 1 Introduction to Management Accounting and Control The Concepts of Management, Accounting, and Control A Definition

15.00 น. - accounting.dusit.ac.thaccounting.dusit.ac.th/home/wp-content/uploads/2016/08/Accounting... · Basic Research in Accounting ... Problem Definition ... Managerial Accounting

15.00 น. - accounting.dusit.ac.thaccounting.dusit.ac.th/home/wp-content/uploads/2016/08/Accounting... · Basic Research in Accounting ... Problem Definition ... Managerial Accounting