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introdaction (users of accounting information (suppliers, investment…
introdaction
users of accounting information
suppliers
investment anlysts
lenders
community representatives
managers
government
owers
employees and their representatives
competitors
customers
overview of the main financial report
financial statements
balance sheet
A=L+E
own/owe
statement of changes in equity
income statement
income-expense=profit
statement of cash flows
notes
two kinds of accounting
cash accounting 收付实现制
accrual accounting 权责发生制
income,expenses,assets,liabilities,equity
assets
give you capability to make money
equity股本
liabilities
expenses
income
on credit/on account赊账
financial & management accounting
management accounting
provides managers with the information they require to run the organisation
internal use
financial accounting
provides general-purpose financial information for a variety of users
external use
compare two accountings
Link Title
types of businesses
partnership
no separate legal entity
limited life
unlimited liability
mutual agency
co-ownership of assets and profits
limited membership
increased regulation
limited company
unlimited life
limited liability
separate legal entity 独立法人
costly to establish
increased regulation and reporting requirements
may require an annual audit
sole proprietorship
unlimited liability
minimum reporting regulations
limited life
limited access to funds
no separate legal entity
low cost to establish
nature and role of accounting
nature
collection,analysis and communication of economic information
accounting information is important to
who want to make decision and plans
manage the business
role
Stewardship
reports of transactions for a given period
decision usefulness
making informed choices
key qualitative characteristics
fundamental(两个一样重要，主要看信息使用者的用途)
relevance
able to be used to influence decisions
materiality threshold 实质性门槛
confirmatory value
predictive value
faithful representation
complete, neutral, free from error
enhancing
comparability
to allow users to identify similarities and difference
verifiability 可验证性
capable of being checked and verified by independent experts
understandability
clearly set out, as concisely as possible
timeliness
available early enough to be useful
information system
preparation
information identification
information recording
using the information
information analysis
information reporting
objective of a business
main objective
enhancing wealth of owners
balance required return with the risk level
how businesses are managed
the key steps in the planning and control process
long-term plan
short-term plan
evaluate and make a selection
perform and collect information on actual performance
consider options
respond to divergences分歧 between plans and actual, and exercise control
identify objectives
revise修订 plans