Submitted by: Submitted by puterias
Views: 203
Words: 940
Pages: 4
Category: Business and Industry
Date Submitted: 12/17/2012 05:27 AM
Introducing Accounting in Business
C1
Importance of Accounting
is a Accounting system that Identifies
Records
information Relevant Reliable Comparable to help users make better decisions.
1-2
that is
Communicates
C1
Accounting Activities
Recording Business Activities
Identifying Business Activities
Communicating Business Activities
1-3
C2
Users of Accounting Information
Internal Users External Users
•Lenders
•Consumer Groups
•Managers •Officers
•Sales Staff •Budget Officers
•Shareholders •External Auditors •Governments •Customers
•Internal Auditors •Controllers
1-4
C2
Users of Accounting Information
External Users Internal Users
Financial accounting provides external users with financial statements.
Managerial accounting provides information needs for internal decision makers.
1-5
Management Accounting
1. 2. 3. Internally focused No mandatory rules Financial and nonfinancial information; subjective information possible Emphasis on the future Internal evaluation and decisions based on very detail information Broad, multidisciplinary
Financial Accounting
1. 2. 3. 4. 5. Externally focused Must follow externally imposed rules Objective financial information Historical orientation Information about the firm as a whole More self-contained
4. 5.
6.
6.
C3
Opportunities in Accounting
Financial Managerial
•General accounting •Cost accounting •Budgeting •Internal auditing •Consulting •Controller •Treasurer •Strategy •Lenders •Consultants •Analysts •Traders •Directors •Underwriters •Planners •Appraisers
Taxation
•Preparation •Planning •Regulatory •Investigations •Consulting •Enforcement •Legal services •Estate plans •FBI investigators •Market researchers •Systems designers •Merger services •Business valuation •Forensic accountant •Litigation support •Entrepreneurs
1-7
•Preparation •Analysis •Auditing •Regulatory •Consulting •Planning •Criminal investigation...