A Economic Concepts 经济学概念 Objective: Learn a framework for understanding accounting information Financial Value The financial value of an item is the amount of money it would bring if sold 8 Wealth An organizations wealth is the sum of the financial values of all the things it owns 8 Economic Income An organizations economic income over a period is the change in its wealth, excluding capital transactions with its owners 账务会计
账务会计 Economic Concepts 经济学概念 Objective: Learn a framework for understanding accounting information. ❖ Financial Value The financial value of an item is the amount of money it would bring if sold. ❖ Wealth An organization’s wealth is the sum of the financial values of all the things it owns. ❖ Economic Income An organization’s economic income over a period is the change in its wealth, excluding capital transactions with its owners
Accounting Convention 会计惯例 Objective: Learn to read actual financial statements by looking at excerpts from the reports of real companies Nature of Accounting Conventions GAAP Accounting valuation Recognition ☆ Disclosure Factors Affecting Accounting market richness complexity of transactions form of organization 账务会计
账务会计 Accounting Convention 会计惯例 Objective: Learn to read actual financial statements by looking at excerpts from the reports of real companies. ◼ Nature of Accounting Conventions ◼ GAAP ◼ Accounting valuation ◼ Recognition ❖ Disclosure ◼ Factors Affecting Accounting ◼ market richness ◼ complexity of transactions ◼ form of organization
Chapter two (第2章资产负债表概念) In this chapter you will learn 1. Basic definitions of assets, liabilities and equities 2. To analyze transactions in terms of their effects on balance sheet accounts 3. To use debits, credits, and T-accounts to analyze transactions and construct balance sheets 4. To begin to read real company reports 账务会计
账务会计 Chapter two （第2章 资产负债表概念） In this chapter you will learn: 1.Basic definitions of assets, liabilities, and equities 2.To analyze transactions in terms of their effects on balance sheet accounts 3.To use debits, credits, and T-accounts to analyze transactions and construct balance sheets 4.To begin to read real company reports
Basic Definitions and Theory 基本定义和理论(一) Objective: Learn basic definition of assets, liabilities, and equities Assets(")is a"probable future economic benefit obtained or controlled by an entity as a result of a past transaction ☆Cash .o Marketable Securities ☆ Accounts receivab|e ☆ Inventory ☆ Prepaid Expenses .s Deferred income Taxes Property, Plant, and Equipment s Other assets Patents, Copyrights, Trademarks, Licenses 账务会计
账务会计 Basic Definitions and Theory 基本定义和理论（一） Objective: Learn basic definition of assets, liabilities, and equities. Assets (资产) is a “probable future economic benefit obtained or controlled by an entity as a result of a past transaction.” ❖ Cash ❖ Marketable Securities ❖ Accounts Receivable ❖ Inventory ❖ Prepaid Expenses ❖ Deferred Income Taxes ❖ Property, Plant, and Equipment ❖ Other Assets ❖ Patents, Copyrights, Trademarks, Licenses
Basic Definitions and Theory 基本定义和理论(二) Objective: Learn basic definition of assets liabilities, and equities. Liabilities〔负债)is" a probable future sacrifice of economic benefits arising from present obligations of an entity to transfer assets or provide services as a result of a past transaction or event. ☆ Accounts Payable 令 Accrued Liabilities ☆Shot- Term Borrowing ☆ Dividends Payable ☆ Bonds 账务会计
账务会计 Basic Definitions and Theory 基本定义和理论（二） Objective: Learn basic definition of assets, liabilities, and equities. Liabilities (负债) is “a probable future sacrifice of economic benefits arising from present obligations of an entity to transfer assets or provide services as a result of a past transaction or event.” ❖ Accounts Payable ❖ Accrued Liabilities ❖ Short-Term Borrowing ❖ Dividends Payable ❖ Bonds