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Chapter 1 2 - Acc.in Business

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  Larson, Wild, Chiapetta, Ropidah, Haslinda, Aryati, Liana © The McGraw-Hill Companies, Inc., 2007 Accounting Environment Chapter 1 (Syllabus: Chap. 1 &2) 100 Shares $1 par value   Accounting?  Larson, Wild, Chiapetta, Ropidah, Haslinda, Aryati, Liana © The McGraw-Hill Companies, Inc., 2007 Learning Objectives  Identify users and uses of accounting  Identify opportunities in accounting and related fields  Explain the meaning of Generally Accepted  Accounting Principles, and define and apply several key principles of accounting  Identify Professional  Accounting Bodies and standards setting in Malaysia  Define and interpret the accounting equation and each of its components   Analyze business transactions using the accounting equation  Identify and prepare basic financial statements and explain how they interrelate  Larson, Wild, Chiapetta, Ropidah, Haslinda, Aryati, Liana © The McGraw-Hill Companies, Inc., 2007 Identifies Records Communicates Relevant Reliable Comparable Importance of Accounting Accounting is a system that information that is to help users make better decisions (?).  Larson, Wild, Chiapetta, Ropidah, Haslinda, Aryati, Liana © The McGraw-Hill Companies, Inc., 2007   Identifying Business Activities   Recording Business Activities  Communicating Business Activities  Accounting Activities
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