会计学原理第一张总结.doc

SummaryThe purpose and importance of accounting in the information age We live in the information age, where that information and its reliable impact s the financial well-being of us all Accounting is an information and measurement system that identifies record s and communicates relevant and comparable information about an organizations business activities. Users and users of accounting Accounting is often called the language of business because all organization s set up an accounting information system to communicate data to make people make better decision .the accounting system serves many kinds of users ,who can be divided in two groups ;external users and internal users External users of accounting information are not directly involved in running the organization .they include shareholders lenders directors ,customers suppliers ,regulators lawyer ,brokers ,and press .external users have limited access to an organization information .yet their business decision depend on information that is reliable ,relevant and comparable .internal users of accounting information are those directly involved in managing and operating an organization .they use the information to help improve the efficiency and effectiveness of an organization .they are several types of internal users and many are managers of key operating activities . Opportunities in accounting and relevant fieldsAccounting information affects many aspects of our lives .when we earn money ,pay taxes ,invest savings ,budget earnings ,and plane for future ,we are influenced by accounting .accounting has four board areas of opportunities : financial ,managerial ,taxation and accounting related why ethics are crucial to accounting The goal of accounting is to provide useful information for decision .for information to be useful, it should be trusted .this demand ethics in accounting .ethics are beliefs that distinguish right form wrong .they are accepted standards of bad and good behavior Generally accepted accounting principle Generally accepted accounting principle are a common set of standards unapplied by accountants.Generally principles consist of four basic principles and four assumptions .the cost principle means that the accounting information is based on actual cost .the revenue recognition principle provides guidance on when a company must recognize revenue .the matching principle prescribes that a company must record its expenses incurred to generate the revenue reported .the full disclosure principles requires a company to report the details report financial statements that would impacts users decisions .the going concern assumption means accounting information reflects a presumption that the business will continue operating instead of being closed or sold .the monetary unite assumption means that we can express transactions and events in monetary ,or money ,unit .The time period assumption presumes that the life of a company can be divided into time periods such as months and years and that useful reports can be prepared for those period .the business entity assumption means that a business is accounted for separately from other business entity ,including its owner A business entity can take one of three legal forms: proprietorship, partnership, or corporation .a sole proprietorship is a business owned by one person .a partnership is a business owned by two or more people called partners. A corporation is a business legally separate form its owner, meaning it is responsible for its own acts and its owner debts.Accounting equity Assets =liabilities +equity The term in this equation can be rearranged, for example Assets liabilities =equity assets are resources with future benefits owned or controlled by a company.Liabilities are what a company owned its nonowners in future payments, products, or serves .these claims reflects company obligation to provide assets, products, or severs to others Equity refers to the claims of its owner .equity is equal to assets minus liabilities .this is the reason equity is also called net assets or residual equity Transaction analysisBusiness activities can be described in terms of, transactions and events. External transactions are exchanges of value between two entities, which yield changes in the accounting equation. external transactions are exchanges within an entity ,they can also effect the accounting equation .an example is a companys use of its supply ,which are reported as expenses when used .events refer to happening that affect an entitys accounting equation and can be reliable measured .they include business events such as floods and fires that destroy assets and create losses .they dont include ,for example ,the signing of service or product contracts ,which by themselves do not impact the accounting equation Financial statements Income statement describes a companys revenues and expenses with the resulting net income or loss over a period of time due to earning activities.Statement of owners equity explain changes in equity from income net and from any owner