Principles Of Accounting 专业知识讲座

FundamentalAccountingPrinciplesWild/Larson/Chiappetta

18thEdition第1页Chapter1AccountinginBusiness第2页ConceptualChapterObjectives

C1:Explainthepurposeandimportanceof accountingintheinformationageC2:IdentifyusersandusesofaccountingC3:IdentifyopportunitiesinaccountingandrelatedfieldsC4:ExplainwhyethicsarecrucialinaccountingC5:ExplainthemeaningofGAAP,anddefineandapplyseveralkeyaccountingprinciplesC6:Appendix1B:Identifyanddescribethethreemajoractivitiesinorganizations第3页AnalyticalChapterObjectivesA1:DefineandinterprettheaccountingequationandeachofitscomponentsA2:AnalyzebusinesstransactionsusingtheaccountingequationA3:ComputeandinterpretreturnonassetsA4:Appendix1A:Explaintherelationbetweenreturnandrisk第4页ProceduralChapterObjectivesP1:Identifyandpreparebasicfinancialstatementsandexplainhowtheyinterrelate第5页IdentifiesRecordsCommunicatesRelevantReliableComparableImportanceofAccountingAccountingisasystemthatinformationthatistohelpusersmakebetterdecisions.C1第6页

IdentifyingBusinessActivities

RecordingBusinessActivities

CommunicatingBusinessActivitiesAccountingActivitiesC1第7页UsersofAccountingInformationExternalUsersLendersShareholders GovernmentsConsumerGroupsExternalAuditorsCustomersInternalUsersManagersOfficers/DirectorsInternalAuditorsSalesStaffBudgetOfficersControllersC2第8页UsersofAccountingInformationExternal

UsersFinancialaccounting

providesexternaluserswithfinancialstatements.InternalUsersManagerialaccountingprovidesinformationneedsforinternaldecisionmakers.C2第9页OpportunitiesinAccountingFinancialPreparationAnalysisAuditingRegulatoryConsultingPlanningCriminal

investigationManagerialGeneralaccountingCostaccountingBudgetingInternalauditingConsultingControllerTreasurerStrategyTaxationPreparationPlanningRegulatoryInvestigationsConsultingEnforcementLegalservicesEstateplansAccounting-relatedLendersConsultantsAnalystsTradersDirectorsUnderwritersPlannersAppraisersFBIinvestigatorsMarketresearchersSystemsdesignersMergerservicesBusinessvaluationHumanservicesLitigationsupportEntrepreneursC3第10页AccountingJobsbyAreaC3第11页BeliefsthatdistinguishrightfromwrongAcceptedstandardsofgoodandbadbehaviorEthicsEthics—AKeyConceptC4第12页

Identifyethicalconcerns

Analyzeoptions

MakeethicaldecisionUsepersonalethicstorecognizeethicalconcern.Considerallgoodandbadconsequences.Choosebestoptionafterweighingallconsequences.GuidelinesforEthicalDecisionsC4第13页Financialaccountingpracticeisgovernedbyconceptsandrulesknownasgenerallyacceptedaccountingprinciples(GAAP).GenerallyAcceptedAccountingPrinciplesRelevantInformationAffectsthedecisionofitsusers.ReliableInformationIstrustedbyusers.ComparableInformationIshelpfulincontrastingorganizations.C5第14页TheSecuritiesandExchangeCommissionisthegovernmentgroupthatestablishesreportingrequirementsforcompaniesthatissuestocktothepublic.SettingAccountingPrinciplesFinancialAccountingStandardsBoardistheprivategroupthatsetsbothbroadandspecificprinciples.C5TheInternationalAccountingStandardsBoard(IASB)issuesInternationalFinancialReportingStandardsthatidentifypreferredaccountingpractices.第15页PrinciplesofAccountingNowFutureGoing-ConcernPrincipleReflectsassumptionthatthebusinesswillcontinueoperatinginsteadofbeingclosedorsold.CostPrincipleAccountinginformationisbasedonactualcost.ObjectivityPrincipleAccountinginformationissupportedbyindependent,unbiasedevidence.C5第16页PrinciplesofAccountingRevenueRecognitionPrincipleRecognizerevenuewhenitisearned.Proceedsneednotbeincash.Measurerevenuebycashreceivedpluscashvalueofitemsreceived.MonetaryUnitPrincipleExpresstransactionsandeventsinmonetary,ormoney,units.BusinessEntityPrincipleAbusinessisaccountedforseparatelyfromotherbusinessentities,includingitsowner.C5第17页BusinessEntityFormsSoleProprietorshipPartnershipCorporationC5第18页*

ProprietorshipsandpartnershipsthataresetupasLLCsprovidelimitedliability.CharacteristicsofBusinesses**C5第19页Ownersofacorporationarecalledshareholders(orstockholders).Whenacorporationissuesonlyoneclassofstock,wecallitcapitalstock.CorporationC5第20页AlsoknownasSOXPassedbyCongresstohelpcurbfinancialabusesatcompaniesthatsellstocktothepublicRequiresaccountingoversightandstringentinternalcontrolsPenaltiesincludestockmarketdelistingandcriminalprosecutionSarbanes-OxleyAct第21页AccountingEquationA1Assets=Liabilities+EquityThesourceoffundstoacquireassets第22页LandEquipmentBuildingsCashVehiclesStoreSuppliesNotesReceivableAccountsReceivableResourcesownedorcontrolledbyacompanyAssetsA1Withfuturebenefits第23页TaxesPayableWagesPayableNotesPayableAccountsPayableCreditors’claimsonassetsLiabilitiesA1第24页CAPITALOwnerInvestmentsEquityA1ClaimsofitsownersNetassetsorresidualequity第25页LiabilitiesEquityAssets=+ExpandedAccountingEquationRevenuesExpensesOwnerCapitalOwnerWithdrawals_+_Owner'sEquityLiabilitiesEquityAssets=+A1第26页TransactionAnalysisEquation

TheaccountingequationMUSTremaininbalanceaftereachtransaction.LiabilitiesEquityAssets=+A2第27页TransactionAnalysisTheaccountsinvolvedare:

(1)Cash

(asset)

(2)OwnerCapital

(equity)

J.Scottinvests$20,000cashtostartthebusiness.A2第28页TransactionAnalysisJ.Scottinvests$20,000cashtostartthebusiness.A2第29页

Theaccountsinvolvedare:

(1)Cash

(asset)

(2)Supplies

(asset)TransactionAnalysis

Purchasedsuppliespaying$1,000cash.A2第30页TransactionAnalysisPurchasedsuppliespaying$1,000cash.A2第31页Theaccountsinvolvedare:

(1)Cash

(asset)

(2)Equipment

(asset)

TransactionAnalysisPurchasedequipmentfor$15,000cash.A2第32页TransactionAnalysisPurchasedequipmentfor$15,000cash.A2第33页

Theaccountsinvolvedare:

(1)Supplies

(asset)

(2)Equipment

(asset)

(3)AccountsPayable

(liability)TransactionAnalysisPurchasedSuppliesof$200andEquipmentof$1,000onaccount.A2第34页TransactionAnalysisPurchasedSuppliesof$200andEquipmentof$1,000onaccount.A2第35页TransactionAnalysis

Theaccountsinvolvedare:

(1)Cash

(asset)

(2)Notespayable

(liability)Borrowed$4,000from1stAmericanBank.A2第36页TransactionAnalysisBorrowed$4,000from1stAmericanBank.A2第37页TransactionAnalysisThebalancessofarappearbelow.NotethattheBalanceSheetEquationisstillinbalance.A2第38页TransactionAnalysisNow,let’slookattransactionsinvolvingrevenue,expensesandwithdrawals.A2第39页

Theaccountsinvolvedare:

(1)Cash

(asset)

(2)Revenues

(equity)

TransactionAnalysisProvidedconsultingservicesreceiving$3,000cash.A2第40页TransactionAnalysisProvidedconsultingservicesreceiving$3,000cash.A2第41页

Theaccountsinvolvedare:

(1)Cash

(asset)

(2)Salariesexpense

(equity)TransactionAnalysisPaidsalariesof$800toemployees.Rememberthatthebalanceinthesalariesexpenseaccountactuallyincreases.But,equitydecreasesbecauseexpensesreduceequity.A2第42页TransactionAnalysisRememberthatexpenses

decrease

equity.Paidsalariesof$800toemployees.A2第43页

Theaccountsinvolvedare:

(1)Cash

(asset)

(2)Withdrawals

(equity)TransactionAnalysisAwithdrawalof$500ismadebytheowner.Rememberthatthewithdrawalaccountactuallyincreases.

But,totalequity

decreasesbecausethewithdrawalreducesequity.A2第44页TransactionAnalysisRememberthatwithdrawals

decrease

equity.Awithdrawalof$500ismadebytheowner.A2第45页FinancialStatementsLet’spreparetheFinancialStatementsreflectingthetransactionswehaverecorded.IncomeStatementStatementofOwner’sEquityBalanceSheetStatementofCashFlowsP1第46页Netincomeis