會(huì)計(jì)英語課件-全英文(存儲版)
【正文】 outside the firm – Financial accounting information must meet certain standards of relevance and reliability ? Management accounting generates confidential information for internal decision makers, ., – Top executives – Department heads FINANCIAL ACCOUNTING AND MANAGEMENT ACCOUNTING ETHICAL CONSIDERATIONS ? Ethical standards in accounting are designed to produce accurate information for decision making ? The result of ethical behavior by accountants is information that people can rely on for decision making TYPES OF BUSINESS ORGANIZATIONS ? Proprietorships – Have a single owner who is generally the manager – Are business entities, but not legal entities – Have debt for which the proprietor is personally liable TYPES OF BUSINESS ORGANIZATIONS ? Partnerships – Join two or more persons together as coowners – Are business entities, but not legal entities – Have debt for which each partner is personally liable TYPES OF BUSINESS ORGANIZATIONS ? Corporations – Are owned by stockholders or shareholders – Are business entities and legal entities – Are liable for all debts ? Stockholders have no personal obligation for corporation debts ACCOUNTING PRINCIPLES AND CONCEPTS ? Generally accepted accounting principles (GAAP) are – The rules that govern how accountants operate – Based upon a conceptual framework written by the Financial Accounting Standards Board (FASB) ACCOUNTING PRINCIPLES AND CONCEPTS ? The FASB works with the SEC (Securities and Exchange Commission) and the AICPA (American Institute of Certified Public Accountants) KEY ACCOUNTING ORGANIZATIONS Private Sector The FASB determines generally accepted accounting principles Public Sector Law creates the SEC to regulate the stock and bond market in the . GAAP governs accounting information Private Sector Accountants apply GAAP through the AICPA ACCOUNTING PRINCIPLES AND CONCEPTS ? The entity concept –States that an organization is an economic entity that keeps its affairs separate from those of the owner(s) ? The reliability (objective) principle – States that accounting records and statements are based on the most reliable data available and documented by objective evidence ACCOUNTING PRINCIPLES AND CONCEPTS ? The cost principle – States that acquired assets and services should be recorded at their actual (historical) cost and should maintain that historical cost for as long as they are owned ? The goingconcern concept – States that the entity will remain in operation for the foreseeable future ACCOUNTING PRINCIPLES AND CONCEPTS ? The stablemoaryunit concept – States that each dollar has the same purchasing power as any other dollar at any other time THE ACCOUNTING EQUATION ? The accounting equation presents the resources of the business and the claims to
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