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Chapter 1-Accounting in Business (Financial Statements (Statement of…
Chapter 1-Accounting in Business
Importance of Accounting
Accounting information users
External Users 外部使用者
Financial accounting 財務會計
• Shareholders
• Lenders
• Customers
• Suppliers
• Regulators
• Lawyers
• Brokers
• Press
Internal Users 內部使用者
Managerial accounting 管理會計
• Directors and Managers of key operating activities
• R&D, Purchasing, HR, Production, etc.
Opportunities in accounting
Taxation
• Preparation
• Planning
• Regulatory
• Investigations
• Consulting
• Enforcement
• Legal services
• Estate plans
Financial
• Preparation
• Analysis
• Auditing
• Regulatory
• Consulting
• Planning
• Criminal investigation
Accounting related
• FBI investigations
• Market researchers
• Systems designers
• Mergers services
• Business valuation
• Forensic accounting
• Litigation support
• entrepreneurs
Managerial
• General accounting
• Costing accounting
• Budgeting
• Internal auditing
• Consulting
• Controller
• Treasurer
• strategy
Financial Statements
Statement of changes in equity
Statement of financial position
Statement of profit or loss and other comprehensive income
( including income statement )
Statement of cash flow
Fundamental of Accounting
Ethics - key concept
Beliefs that distinguish right from wrong
Accepted standards of good and bad behavior
International standards
The International Accounting Standards Board (IASB) 國際會計準則委員會
ternational Financial Reporting Standards (IFRS) 國際財務報導準則
Generally accepted accounting principles (GAAP)
Principles of Accounting
Revenue Recognition Principle 收入認定原則
1.Revenue is recognized when earned. 收入於賺得時認列
2.Proceeds from selling products and services need not be in cash. 不必然會收到現金
3.Revenue is measured by the cash received plus the cash value of any other items received. 以收到現金及其他等值物品衡量收入
Expense Recognition Principle (Matching Principle) 費用認定原則
Matching principle 配合原則
1.A company record the expenses it incurred to generate the revenue reported. 費用於發生時認列
2.Proceeds need not be in cash. 不必然會有現金支出
Measurement Principle 衡量原則
Historical Cost principle 歷史成本原則
Cost principle 成本原則
Full Disclosure Principle 充份揭露原則
Accounting Assumptions
Monetary Unit Assumption 貨幣單位假設
Time Period Assumption 會計期間假設
Going Concern Assumption 繼續經營假設
Business Entity Assumption 企業個體假設
Transaction Analysis
Accounting equation
Transaction analysis - illustrated