Unit 1Introduction to Accounting1.Definition of Accounting2.Users and classifications of Accounting3.Accounting Assumptions and Principles4.Financial Statements
Unit 1 Introduction to Accounting 1.Definition of Accounting 2.Users and classifications of Accounting 3.Accounting Assumptions and Principles 4.Financial Statements
What is Accounting?Bean-counting? Hero of action?Art ? Technique?Youranswer?Early accounting & modern accounting2025/12/3
2025/12/3 2 What is Accounting? ◼ Bean-counting? Hero of action? ◼ Art ? Technique? ◼ Your answer? ◼ Early accounting & modern accounting
What is Accounting?Accounting is an information systemthat identifies,records,and communicates the economic events(transactions)ofanorganizationtointerestedusersforthe purpose of decision-making.Primary dataAccountinginformationinputoutputProcess202
2025/12/3 3 What is Accounting? Accounting is an information system that identifies, records, and communicates the economic events (transactions) of an organization to interested users for the purpose of decision-making. Process Primary data input Accounting information output
Process of accountingRecordingIdentificationCommunicationAccountingReportsVISA'MastercardSOFTBYTEAnnulReportRecord, classifySelecteconomiceventsand summarize(transactions)2025/12/3
2025/12/3 4 Process of accounting Identification Select economic events (transactions) Recording Record, classify and summarize Accounting Reports SOFTBYTE Annual Report Communication
Users and ClassificationUsersInternal usersExternalusersManagersOwnersEmployeesInvestorsUnionsCreditorsCustomersTaxauthorities2025/12/3
2025/12/3 5 External users Internal users Users and Classification ◼ Owners ◼ Investors ◼ Creditors ◼ Customers ◼ Tax authorities ◼ . ◼ Managers ◼ Employees ◼ Unions ◼ . Users