1 The Environment of Financial Reporting ntermediate Accounting Accounting School. Zhongnan
1 The Environment of Financial Reporting Accounting School ·Zhongnan University of Economics & Law ntermediate Accounting I 中级会计学
The Environment of financial Forewords Course nature and objective Teaching methods Test requirements and form Scoring system Brief contents
Intermediate Accounting 1 The Environment of Financial Reporting Forewords ➢ Course nature and objective ➢ Teaching methods ➢ Test requirements and form ➢ Scoring system ➢ Brief contents
The En I. Accounting information: users, uses, and GaaP in U..A Companies may obtain capital by issuing capital stock or by borrowing from lenders Bank Stock Exchange 000m
Intermediate Accounting 1 The Environment of Financial Reporting I. Accounting information: users, uses, and GAAP in U.S.A. Companies may obtain capital by issuing capital stock or by borrowing from lenders Stock Exchange Bank
The Environment of Financial Accounting is a service activity. Its function is to provide quantitative information, primarily financial in nature about economic entities that is intended to be useful in making economic decisions--In making reasoned choices among alternative courses of action (Statement of the Accounting principles Board No. 4, p. 40
Intermediate Accounting 1 The Environment of Financial Reporting “Accounting is a service activity. Its function is to provide quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions--in making reasoned choices among alternative courses of action.” (Statement of the Accounting Principles Board No. 4, p. 40)
The Environment of Financial Accounting Information Economic Activities and Decision Making Impact External Externa User Decisio Company's Making Economic Accumu Accounting Communi- Activities late Information cate Internal Decisio Internal User Making mpact
Accounting Information Economic Activities and Decision Making Accumulate Accounting Information Communicate External User Internal User External Decisio n Making Internal Decisio n Making Company’s Economic Activities Impact Impact Intermediate Accounting 1 The Environment of Financial Reporting
The Environment of financial Major Internal and External stakeholder Groups Investors 叁 Government Community Board of directors A analysts Management Suppliers Employees Customers EI mployees Creditors daeliM
Investors Community Board of Directors Management Employees Suppliers Employees Creditors Customers Analysts Government Major Internal and External Stakeholder Groups Intermediate Accounting 1 The Environment of Financial Reporting
Intermediate Accounting 1 The Environment of Financial Reporting Comparison of Financial and Managerial Accounting Se f ources o Could you illustrate authority differences between Statement Format financial and Decision focus managerial accounting?
Intermediate Accounting 1 The Environment of Financial Reporting Comparison of Financial and Managerial Accounting Sources of Authority; Statement Format; Decision Focus… Could you illustrate differences between financial and managerial accounting?
Intermediate Accounting 1 The Environment of Financial Reporting Financial Reporting Financial reporting is the process of communicating financial accounting information about a company to external users The balance sheet reports, as of a certain point in time, the resources of a company ( the assets), the company' s obligations (the liabilities), and the equity of the owners
Intermediate Accounting 1 The Environment of Financial Reporting Financial Reporting Financial reporting is the process of communicating financial accounting information about a company to external users. The balance sheet reports, as of a certain point in time, the resources of a company (the assets), the company’s obligations (the liabilities), and the equity of the owners
Intermediate Accounting 1 The Environment of Financial Reporting Financial Reporting Financial reporting is the process of communicating financial accounting information about a company to external users The income statement reports, for a certain interval the net assets generated through business operations (revenues), the net assets consumed(the expenses) and the net income
Intermediate Accounting 1 The Environment of Financial Reporting Financial Reporting Financial reporting is the process of communicating financial accounting information about a company to external users. The income statement reports, for a certain interval, the net assets generated through business operations (revenues), the net assets consumed (the expenses), and the net income
Intermediate Accounting 1 The Environment of Financial Reporting Financial Reporting Financial reporting is the process of communicating financial accounting information about a company to external users The statement of cash flows reports for a certain interval. the amount of cash generated and consumed by a company through operating, financing, and Investing activities
Intermediate Accounting 1 The Environment of Financial Reporting Financial Reporting Financial reporting is the process of communicating financial accounting information about a company to external users. The statement of cash flows reports, for a certain interval, the amount of cash generated and consumed by a company through operating, financing, and investing activities
