多媒体课件_财务会计(双语)_本_02周.

1-1IntroductiontoFinancialAccounting1-2Chapter1Accounting:TheLanguageofBusiness1-3LearningObjectivesAfterstudyingthischapter,youshouldbeableto:Explainhowaccountinginformationassistsinmakingdecisions.Describethecomponentsofthebalancesheet.Analyzebusinesstransactionsandrelatethemtochangesinthebalancesheet.Classifyoperating,investing,andfinancingactivitiesinacashflowstatement.1-4LearningObjectivesAfterstudyingthischapter,youshouldbeableto:Comparefeaturesofproprietorships,partnerships,andcorporations.Describeauditingandhowitenhancesthevalueoffinancialinformation.Distinguishbetweenpublicandprivateaccounting.Evaluatetheroleofethicsintheaccountingprocess.1-5IntroductionAccounting-aprocessofidentifying,recording,summarizing,andreportingeconomicinformationtodecisionmakersintheformoffinancialstatementsFinancialaccounting-focusesonthespecificneedsofdecisionmakersexternaltotheorganization,suchasstockholders,suppliers,banks,andgovernmentagencies1-6TheNatureofAccountingTheaccountingsystemisaseriesofstepsperformedtoanalyze,record,quantify,accumulate,summarize,classify,report,andinterpreteconomiceventsandtheireffectsonanorganizationandtopreparethefinancialstatements.1-7TheNatureofAccountingAccountingsystemsaredesignedtomeettheneedsofthedecisionmakerswhousethefinancialinformation.Everybusinessmaintainssometypeofaccountingsystem.•Theseaccountingsystemsmaybeverycomplexorverysimple,buttherealvalueofanyaccountingsystemliesintheinformationthatthesystemprovides.1-8AccountingasanAidtoDecisionMakingAccountinginformationisusefultoanyonewhomakesdecisionsthathaveeconomicresults.•Managerswanttoknowifanewproductwillbeprofitable.•Ownerswanttoknowwhichemployeesareproductive.•Investorswanttoknowifacompanyisagoodinvestment.•Legislatorswanttoknowhowaproposedlawwillaffectbudgets.•Creditorswanttoknowiftheyshouldextendcredit,howmuchtoextend,andforhowlong.1-9AccountingasanAidtoDecisionMakingAccountinghelpsindecisionmakingbyshowingwhereandwhenmoneyhasbeenspent,byevaluatingperformance,andbyshowingtheimplicationsofchoosingoneplaninsteadofanother.Fundamentalrelationshipsinthedecision-makingprocess:EventAccountant’sanalysisandrecordingFinancialstatementsUsers1-10FinancialandManagementAccountingThemajordistinctionbetweenfinancialandmanagementaccountingistheusersoftheinformation.•Financialaccountingservesexternalusers,suchasinvestors,creditors,andsuppliers.•Managementaccountingservesinternalusers,suchastopexecutives,management,andadministratorswithinorganizations.1-11FinancialandManagementAccountingTheprimaryquestionsaboutanorganization’ssuccessthatdecisionmakerswanttoknoware:Whatisthefinancialpictureoftheorganizationonagivenday?Howwelldidtheorganizationdoduringagivenperiod?1-12FinancialandManagementAccountingAccountantsanswertheseprimaryquestionswiththreemajorfinancialstatements.•Balancesheet–showsfinancialpictureonagivenday•Incomestatement–showsperformanceoveragivenperiod•Statementofcashflows–showsperformanceoveragivenperiod1-13FinancialandManagementAccountingAnnualreport-adocumentpreparedbymanagementanddistributedtocurrentandpotentialinvestorstoinformthemaboutthecompany’spastperformanceandfutureprospects•Theannualreportisoneofthemostcommonsourcesoffinancialinformationusedbyinvestorsandmanagers.1-14FinancialandManagementAccountingTheannualreportusuallyincludes:•Aletterfromcorporatemanagement•Adiscussionandanalysisbymanagementofrecenteconomicevents•Footnotesthatexplainmanyelementsofthefinancialstatementsinmoredetail•Thereportoftheindependentauditors•Astatementofmanagement’sresponsibilityforpreparationofthefinancialstatements•Othercorporateinformation1-15FinancialandManagementAccountingInmanycases,annualreportstakealongtimetoproduceandarenotwidelyavailabletopeoplewhowantthem.•TheInternetallowscompaniestohaveaWebsitewheretheyprovidedirectaccesstotheannualreport.1-16TheBalanceSheetThebalancesheetshowsthefinancialpositionofacompanyataparticularpointintime.•Thebalancesheetissometimesreferredtoasthestatementoffinancialpositionorthestatementoffinancialcondition.Theleftsidelistsassets–therightsidelistsliabilitiesandowners’equity1-17TheBalanceSheetThebalancesheetequation:Assets=Liabilities+Owners’EquityorOwners’Equity=Assets-Liabilities1-18TheBalanceSheetElementsofthebalancesheet:•Assets-resourcesofthefirmthatareexpectedtoincreaseorcausefuturecashflows(everythingthefirmowns)•Liabilities-obligationsofthefirmtooutsidersorclaimsagainstitsassetsbyoutsiders(debtsofthefirm)•Owners’Equity-theresidualinterestin,orremainingclaimsagainst,thefirm’sassetsafterdeductingliabilities(rightsoftheowners)1-19TheBalanceSheetSTEVENSCOMPANYBalanceSheetJune30,2002AssetsLiabilitiesCurrentassets:Currentliabilities:Cash$4,525Accountspayable$9,800Accountsreceivable2,040Wagespayable3,765Totalcurrentassets$6,565Totalliabilities$13,565Plantassets:Land$9,755Equipment6,500Owner’sEquityTotalplantassets16,255Hamilton,capital9,255TotalliabilitiesandTotalassets$22,820owner’sequity$22,820==========================1-20BalanceSheetTransactionsThebalancesheetisaffectedbyev