Chapter 1Accounting and ItsEnvironmentThe role of AccountingUsers of Accounting InformationThe history of AccountingTypes of Business OrganizationsAccounting Concepts and Principles
Chapter 1 Accounting and Its Environment The role of Accounting Users of Accounting Information The history of Accounting Types of Business Organizations Accounting Concepts and Principles
Accounting -The Language of BusinessAccounting is the infomation system that.measures business activities,processes data into reports, andcommumicates results to decision makers
TheRoleofAccounting inBusiness(1)Good managers plan for the futureThey develop a budgetA budget is a formal plan stated inmonetary terms
The Role of Accounting in Business(1) Good managers plan for the future. They develop a budget. A budget is a formal plan stated in monetary terms
F1010g4eAccounting's Role in BusinessGood managers plan for the futureThey develop a budgetA budget is a formal planstated in monetary terms
The Role of Accounting(2)Accountinghelp banks to decide towhomthey will lend moneyAccounting provides information that helpinvestorspick stocks
The Role of Accounting(2) Accounting help banks to decide to whom they will lend money. Accounting provides information that help investors pick stocks
Prologue:Accounting's Role in BusinessAccounting helps banks decideto whom they will lendmoneyAccounting provides informationthat helps investors pick stocks
Accounting's Role inBusinessPrivate AccountingBudgetingInformation systems designCost accountingInternal auditing
Prologue:Accounting's Role in BusinessPublic AccountingAssuranceConsultingservicesincludingTaxauditingaccounting
Users of accounting information:DecisionMakersIndividualsBusinessesInvestorsandcreditorsGovernment regulatory agenciesTaxing authoritiesNonprofit organizationsOther users
Users of accounting information: Decision Makers Individuals Businesses Investors and creditors Government regulatory agencies Taxing authorities Nonprofit organizations Other users
Who Uses AccountingInformation?GovernmentIndividualsregulatoryagenciesTaxingBusinessesauthoritiesNonprofitInvestors andcreditorsorganizations