accounting∶thelanguageofbusiness-免費(fèi)閱讀
【正文】 2020 Pearson Education Introduction to Financial Accounting, 10/e 19 of 35 LO 5 – Comparative Ownership Features ? Sole proprietorship – a single owner ? Partnership – two or more coowners ? Corporation – created under (.) state laws – Publicly owned – Owned by the public through the sale of shares。 2020 Pearson Education Introduction to Financial Accounting, 10/e 10 of 35 LO 2 The Balance Sheet Assets – economic resources that the pany owns or controls from past transactions/events that it expects to help generate future benefits ? Accounts – subdivision of the element Assets – Cash and cash equivalents – Accounts Receivable (Customer bought it on credit) – Inventories (Merchandise, Supplies, Parts) – Prepaid Expenses (taxes, utilities, insurance) – Property – Plant – Equipment Current Assets Longterm Assets 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 1 of 35 ACCOUNTING: The Language of Business Lecture 1 Learning Objectives (LO) After studying this chapter, you should be able to 1. Explain how accounting information assists in making decisions 2. Describe the ponents of the balance sheet 3. Analyze business transactions and relate them to changes in the balance sheet 4. Prepare a balance sheet from transactional data 5. Compare the features of sole proprietorships, partnerships, and corporations 2 of 35 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 7 of 35 LO 1 Accounting and DecisionMaking ? Characteristics of Financial Reports – Prepared by management – Provided to outsiders quarterly and annually – Primarily about past transactions and events – Tell very little about future transactions, events, or circu
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