An Overview Of Accounting

《An Overview Of Accounting》由会员分享，可在线阅读，更多相关《An Overview Of Accounting（9页珍藏版）》请在装配图网上搜索。

1、1 An Overview Of AccountingChapter 1 An Overview Of Accounting Learning ObjectivesExplain what accounting is. Describe the accounting concepts and principles. Explain what the accounting elements are. Explain what the accounting equation is. Indicate the effects of various transactions upon the acco

2、unting equation.Key Words financial accounting财务会计management accounting管理会计tax accounting税务会计financial position财务状况results of operations经营成果general purpose accounting information通用会计信息Key Words tax planning纳税筹划Bookkeeping簿记GAAP公认会计原则economic entity assumption经济实体假设fiscal period assumption会计期间假设going

3、 concern assumption持续经营假设stable-money-unit assumption稳定货币单位假设Key Words monetary unit货币单位the principle of objectivity客观性原则the principle of matching and revenue recognition配比原则与收入确认原则the principle of consistency一致性原则substance over form实质重于形式the adequate disclosure principle充分披露原则Key Words Conservatism

4、稳健性 accrual-basis accounting versus cash-basis accounting权责发生制与收付实现制Assets资产Liabilities负债owners equity业主权益 Revenue收入Expense费用Key Words Materiality重要性income tax returns所得税申报表net income净收益sole proprietorships独资企业Partnerships合伙企业Corporation公司1-1 What is AccountingAccounting is the process of identifyin

5、g, measuring and communicating economic information which permit the users to make informed judgments and decisions. The Purpose of Accounting to provide information to help make decisions about economic activities. 1-1 What is AccountingTypes of Accounting Information Tax accounting Tax accounting

6、is a specialized which involves the preparation of income tax returns. The most challenging aspect: tax planning. 1-1 What is Accountingappears in financial statements that are intended primarily for external use.it is often called “general purpose” accounting information. Financial accounting refer

7、s to information describing the financial resources, obligations and activities of an economic entity.1-1 What is Accountinginvolves the development and the interpretation of accounting information which is for internal use.provides special information for the managers of acompany. financial in natu

8、re. Management accounting 1-1 What is AccountingThe Differences between Accounting and Bookkeeping Bookkeeping is a mechanical process that records the routine economic activities of a business. Accounting includes bookkeeping but goes beyond it in scope.1-2 GAAPGAAP：Generally Accepted Accounting Pr

9、incipleThe Nature of Accounting PrinciplesGAAP provide the general framework for determining what information is included in financial statements and how this information is to be presented. 1-2 GAAP GAAP include broad principles of measurement and presentation.detailed rules that are used by profes

10、sional accountants in preparing accounting information and reports. 1-2 GAAPAssumptions of Financial AccountingAssumes that each business has an existence separate from interested parties and other businesses. An accounting entity is any economic which controls resource The accounting entity assumpt

11、ion 1-2 GAAPAccountants divide an entitys life into months or years to report its economic activities. The time periods are usually of equal length. Fiscal period assumption The length of the accounting period must be stated in the financial statements.1-2 GAAPan entity will continue to operate inde

12、finitely unless strong evidence exists that the entity will terminate. Going concern assumption The financial statements are prepared on the assumption: the company is able to continue trading for the foreseeable future.1-2 GAAPThe logical unit of measurement is the monetary unit.This assumption is

13、the basis for ignoring the effect of inflation in the accounting records. The stable-money-unit assumption 1-2 GAAP The Principles of Financial Accounting Measurement The principle of objectivity1The principle of matching and revenue recognition2 The principle of consistency 3The materiality princip

14、le 4GAAPThe conservatism principle 5substance over form6The adequate disclosure principle 7 Accrual-basis accounting versus cash-basis accounting 81-3 Accounting Elements Assetseconomic resources: measurable by money value, and owned or controlled by enterprise.including all property: rights as a cr

15、editor to others, and other rights. classifying: current assets non-current assets1-3 Accounting Elements Liabilities debts borne by an enterprise, measurable by money value.Classifying: current liabilities long-term liabilities 1-3 Accounting Elements Owners equity refers to the interest or the cla

16、im of the investors remaining in the net assets of an enterprise. Revenue the economic resources flowing into a business as a result of rendering goods sold and services during a given accounting period. 1-3 Accounting Elements Expenses the outflow of a businesss economic resources resulting from ea

17、rning revenue or the cost of operational activities for the business. Net income the result of matching revenue with expenses. 1-4 Accounting EquationThe relationship between the accounting elements Assets = Equity = Liabilities + Owners Equityshow the legal and economic claims against the assets 1-

18、5 Effect of Business Transactions Increase an asset and increase an equity1 Decrease an asset and decrease an equity 2 Increase one asset and decrease another asset 3Decrease one equity and increase another equity41-6 Forms of Business Organizationsan unincorporated business owned by an individual a

19、nd often managed by that same person. the owner is responsible for all debts of the business. Sole proprietorships 1-6 Forms of Business Organizationsan unincorporated business owned by two or more persons associated as partners. widely used for professional practices. Partnerships 1-6 Forms of Business Organizations a business incorporated under the laws of a state and owned by a few stockholders or thousands of stockholders.Corporation制作 郭睿