Essentialsof AccountingH会计学基础Essentialsol Avccounting8R4E品PTARYONWHUITAccountingdepartmentofmanagementschool
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 WHUT Accounting department of management school Essentials of Accounting
Chapter 1Accounting in BusinessIntroduction to Accountingand BusinessWHUITAccountingdepartmentofmanagementschool
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 WHUT Accounting department of management school Chapter 1 Accounting in Business Introduction to Accounting and Business
Conceptual Chapter ObjectivesC1: Purpose and importance of accountingC2: Identify users and uses of accountingC3:Revolution of AccountingC4 : Several key accounting conceptsC5:Elements ofbalancesheetC6: Accounting equation and each of itscomponentsC7: Analyze business transactions using theaccounting equationWHUITAccounting departmentofmanagementschool
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 WHUT Accounting department of management school Conceptual Chapter Objectives C1: Purpose and importance of accounting C2: Identify users and uses of accounting C3: Revolution of Accounting C4 : Several key accounting concepts C5: Elements of balance sheet C6: Accounting equation and each of its components C7: Analyze business transactions using the accounting equation
1Importance of AccountingisaIdentifiesAccountingsystem thatRecordsinformationCommunicatesRelevantthat isReliabletohelpusersmakebetterdecisionsComparableWHUTAccountingdepartmentofmanagementschool
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 WHUT Accounting department of management school Identifies Records Relevant Communicates Reliable Comparable Importance of Accounting Accounting is a system that information that is to help users make better decisions
Definition for AccountingAccounting is a service activity. Itsfunction is to provide quantitativeinformation,primarily financial innature,about economic entities that isintended to be useful in makingeconomic decisions--in making reasonedchoices among alternative courses ofaction."5WHUTAccountingdepartmentofmanagementschool
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 WHUT Accounting department of management school 5 Definition for Accounting “Accounting is a service activity. Its function is to provide quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions-in making reasoned choices among alternative courses of action