Lesson 2: Economic Transactions and Accounting Equation Learning objectives This lesson begins with a discussion of the purpose of a business, including a discussion of forms of organizations. Next, the nature of business operations is discussed. The four types of businesses are discussed: service, merchandising, manufacturing, and financial services. It also
Lesson 12: Internal Controls and Business Ethics Learning objectives 1.Explain the fundamental principles of internal control 2. Define, explain the purpose, and identify the principles of internal accounting control. 3. Apply internal control to cash. 4.Explain and record petty cash fund transactions
The relationship between The law of one price an asset's' value& price arbitrage Value maximization Interest rates the law financial decisions of one price Accounting measures of Exchange rates value
Chapter 3 Contents Review of Financial The Relation Among Statements Ratios Market Values v. Book Limitations of Ratio Values Analysis Accounting v. Economic Purpose and Process of Measures of Income Financial Planning
Topics to be Discussed National Income Accounting and the Balance of Payments other concepts The determination of exchange rate floating exchange rate system Fixed exchange rate system Trade environment and policy o Summary of the open economy
Learning Objectives Explain the difference between economic, accounting, and tax concepts of income Explain the principles used to determine who is taxed on a particular item of income
