会计学原理PPTChap001.ppt

Conceptual Chapter Objectives C1: Explain the purpose and importance of accounting C2: Identify users and uses of , and opportunities, in accounting C3: Explain why ethics are crucial to accounting C4: Explain the generally accepted accounting principles and define and apply several accounting principles C5: Appendix 1-Identify and describe the three major activities of organizations Analytical Chapter Objectives A1: Define and interpret the accounting equation and each of its components Procedural Chapter Objectives P1: Analyze business transactions using the accounting equation P2: Identify and prepare basic financial statements and explain how they interrelate End of Chapter 1. * * P1 Transaction Analysis Transaction 9 The podiatric center pays $1,900 to FastForward 10 days after it is billed for consulting services. The accounts involved are: (1) Cash (asset) (2) Accounts Receivable (asset) P1 Transaction Analysis Transaction 10 FastForward pays CalTech Supply $900 cash as partial payment for its earlier $7,100 purchase of supplies, leaving $6,200 unpaid. The accounts involved are: (1) Cash (asset) (2) Accounts Payable (liability) P1 Transaction Analysis Transaction 11 The owner of FastForward withdraws $200 cash for personal use. The accounts involved are: (1) Cash (asset) (2) Withdrawals (equity) Summary of Transactions P1 Financial Statements The four financial statements and their purposes are: Income statement — describes a company’s revenues and expenses along with the resulting net income or loss over a period of time due to earnings activities. Statement of owner’s equity— explains changes in equity from net income (or loss) and from any owner investments and withdrawals over a period of time. Balance sheet — describes a company’s financial position (types and amounts of assets, liabilities, and equity) at a point in time. Statement of cash flows — identifies cash inflows (receipts) and cash outflows (payments) over a period of time. P2