Chapter 1 Accounting in business

这是一篇关于企业会计思维导图，概念:会计是一种识别、记录和传达一个组织的业务活动的信息和计量系统。

Chapter 1 Accounting in business

• Conceptual:accounting is a information and measurement system that identifies,records and communicates an organization’s business activities.
• Users of accounting information
  • External users
    • 1.Lenders 2.Shareholders 3.External (independent)auditors 4.Nonmanagerial and nonexecutive employees and labor unions 5.Regulators 6.Voters and government officials 7.Contributors 8.Suppliers 9.Customers
  • Internal users
    • 1.Purchasing managers 2.Human resource managers 3.Production managers 4.Distribution managers 5.Marketing managers 6.Service managers 7.Research and development managers
• Opportunities in accounting
  • Financial
  • Managerial
  • Taxation
  • Accounting related
• Financial statements
  • Balance sheet
    • Describes a company’s financial position (types and amounts of assets,liabilities and equity) at a point in time.
  • Income statement
    • Describes a company’s revenues and expenses and computes net income or loss over a period of time.
  • Statement of owner’s equity
    • Explains changes in owner’s equity from owner investment,net income (or loss) and any withdrawals over a period of time.
  • Statement of cash flow
    • Identifies cash inflows (receipts) and cash outflows (payments) over a period of time.
• Transaction analysis
  • 1.Investment by owner 2.Purchase supplies for cash 3.Purchase equipment for cash 4.Purchase supplies on credit 5.Provide services for cash 6&7.Payment of expenses in cash 8.Provided services and facilities for credit 9.Receipt of cash form accounts receivable 10.Payment of accounts payable
• Accounting equation
  • 1.Assets =Liabilities +Equity 2.Assets =Liabilities +Owner ,Capital-Owner,Withdrawal +Revenue-Expenses
    • Assets:are resources a company owns or controls.
    • Liabilities:are creditors’ claims on assets .
    • Equity:is the owner’s claim on assets.
• Fundamentals of accounting
  • Ethics:ethics are beliefs that separate right from wrong.They are accepted standers of good and bad behavior.
  • Generally accepted accounting principles
  • International standards
• Accounting principles
  • 1.Measurement principle(cost principle) 2.Revenue recognition principle 3.Expense recognition principle (matching principle) 4.Full disclosure principle
• Accounting assumptions
  • 1.Going concern assumption 2.Monetary unit assumption 3.Time period assumption 4.Business entity assumption