f01Introduction to Accounting and Business(公司金融会计)

Chapter F1

Power NotesLearning Objectives

Introduction to Accounting and Business

1. 2. 3. 4. 5. 6. 7. 8. 9.

Nature of a Business The Role of Accounting in Business Business Ethics Profession of Accounting Generally Accepted Accounting Principles Assets, Liabilities, and Owner’s Equity Business Transactions Financial Statements Financial Analysis and Interpretation.

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Chapter F1

Power Notes

Introduction to Accounting and Business

Slide # Power Note Topics3 9 11 16 19 53 69

Accounting – An Information Process Users of Accounting Information Profession of Accounting The Accounting Equation Business Transactions Financial Statements Ratio of Liabilities to Stockholders Equity

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Accounting — An Information ProcessIdentification of Users

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Accounting — An Information ProcessIdentification of Users

User Information Needs

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Accounting — An Information ProcessIdentification of Users

User Information Needs

Accounting System

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Accounting — An Information ProcessIdentification of Users

User Information Needs

Economic Data and Activities

Accounting System

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Accounting — An Information ProcessIdentification of Users

User Information Needs

Economic Data and Activities

Accounting System

Reports

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Accounting — An Information ProcessIdentification of Users

User Information Needs

Economic Data and Activities

Accounting System

Reports

User Decisions

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Users of Accounting Information investors creditors regulators customers competitors

Financial AccountingEXTERNAL USERS

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Users of Accounting Information investors creditors regulators customers competitors

Financial AccountingEXTERNAL USERS

Managerial AccountingINTERNAL USERS

owners managers employeesC1 - 10

The Accounting ProfessionGovernment Industry CPA Firms

Auditor

Staff Accountant

Junior Accountant

College GraduatesWhat are the starting rates for new graduates?C1 - 11

The Accounting ProfessionGovernment Industry CPA Firms

Supervisor

Chief Accountant Staff Accountant

Senior Accountant Junior Accountant

Auditor

College GraduatesHow soon would I get promoted?C1 - 12

The Accounting ProfessionGovernment Industry CPA Firms

Director Supervisor

Controller Chief Accountant Staff Accountant

Manager Senior Accountant Junior Accountant

Auditor

College GraduatesWhat are the top positions in each category?C1 - 13

The Accounting ProfessionGovernment Administrator Industry CPA Firms Partner

Vice President Finance

Director

Controller Chief Accountant Staff Accountant

Manager Senior Accountant Junior Accountant

Supervisor

Auditor

College GraduatesWhat is the fastest path to top management?C1 - 14

The Accounting ProfessionGovernment Administrator Industry Vice President Finance1 2

CPA Firms

Partner

Director

Controll

er Chief Accountant Staff Accountant

Manager Senior Accountant Junior Accountant

Supervisor

Auditor

College Graduates1 10 to 20 years of experience 2

6 to 8 years of experienceC1 - 15

The Accounting EquationResources

What are an organization’s resources called?

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The Accounting EquationResources = Sources

Assets

Cost of resources used in the business

What are the sources of the assets?

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The Accounting EquationResources = Sources

Liabilities Assets Stockholders’ EquityResources supplied by creditors and owners

Cost of resources used in the business

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Business Transactionsa. Chris Clark deposits $25,000 in a bank account for NetSolutions in return for shares of stock in the corporation.ASSETS LIABILITIES

=

STOCKHOLDERS’ EQUITY

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