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Financial Accounting

Được đăng lên bởi Bui Manh Tuan
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Introduction to
Financial Statements
Chapter
1-1

Financial Accounting, Fifth Edition

Study
Study Objectives
Objectives
1.

Describe the primary forms of business organization.

2.

Identify the users and uses of accounting information.

3.

Explain the three principal types of business activity.

4.

Describe the content and purpose of each of the
financial statements.

5.

Explain the meaning of assets, liabilities, and
stockholders’ equity, and state the basic accounting
equation.

6.

Describe the components that supplement the financial
statements in an annual report.

Chapter
1-2

Introduction
Introduction to
to Financial
Financial Statements
Statements

Forms of
Business
Organization
Sole
proprietorship
Partnership
Corporation

Chapter
1-3

Users and
Uses of
Financial
Information

Business
Activities

Internal users

Financing

External
users

Investing

Ethics in
financial
reporting

Operating

Communicating
with Users

A Quick Look
at Tootsie
Roll’s Financial
Statements

Income
statement

Income
statement

Retained
earnings
statement

Retained
earnings
statement

Balance sheet

Balance sheet

Statement of
cash flows

Statement of
cash flows

Interrelationships of
statements

Other elements
of an annual
report

Forms
Forms of
of Business
Business Organization
Organization
Proprietorship

Chapter
1-4

Partnership

Corporation

Generally owned
by one person.

Owned by two or
more persons.

Ownership in
shares of stock

Often small
service-type
businesses

Often retail and
service-type
businesses

Personally liable
for debts of the
business

Personally liable
for debts of the
business

Separate legal
entity organized
under state
corporation law

Tax advantages

Tax advantages

No personal
liability
Easier to raise
funds

SO 1 Describe the primary forms of business organization.

Users
Users and
and Uses
Uses of
of Financial
Financial Information
Information
Internal Users

Management

IRS
Investors

Human
Resources
Finance

Common Questions

Creditors

Marketing
Customers
Chapter
1-5

Labor
Unions

SEC

External
Users

SO 2 Identify the users and uses of accounting information.

Users
Users and
and Uses
Uses of
of Financial
Financial Information
Information
Common Questions Asked?
1. Can we afford to give our
employees a pay raise?
2. Did the company earn a
satisfactory income?
3. Which product line is most
profitable?
4. Is cash sufficient to pay
dividends to the stockholders?

User
Human Resources
Investors
Management
Finance

5. What price fo...
Chapter
1-1
Introduction to
Financial Statements
Financial Accounting, Fifth Edition
Financial Accounting - Trang 2
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