Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 12 Internal Controls and Business Ethics Self-Test True or False 1. The accounts receivable subsidiary ledger controls the accounts receivable account in the

Outline Merchandising activities Operating cycle of merchandising companies Merchandising cost accounts Inventory systems Merchandise purchases Sales transactions Adjusting and closing entries Task Team of FUNDAMENTAL

Demand and supply of financial analysis Basic analytical procedures Analysis methods Comprehensive analysis of financial ratios The limitations of financial analysis Task Team of FUNDAMENTAL ACCOUNTING, Business School. Sun Yat-sen University

Lesson 1: Introduction to Accounting Learning Objectives Understand the concepts of economic man and nature of firm from the perspective of economic man 2. Appreciate the trust issue and the unique role of accounting in trust building and maintaining

University Lesson Notes Lesson 13 Managerial Accounting: Concepts and Principles Learning objectives 1. Describe the definition of managerial accounting. 2. Identify and explain the difference between managerial accounting and financial accounting. 3. Analyze different ways to classify costs 4. Describe the flow of manufacturing activities

Lesson Notes Lesson 4 Adjusting Accounts for Financial Statement Learning objectives 1. Describe the purpose of adjusting accounts at the end of the period 2. Prepare and explain adjusting entries for prepaid expenses, amortization, unearned revenues, accrued expenses, and accrued revenues

Learning objectives 1. Describe the principles of properly designed accounting systems. 2. Describe and illustrate the principles of internal control of accounting information systems. 3. Describe and illustrate the use oft special journals and subsidiary ledgers to process accounting data more efficiently

Outline Accounts Detailed Description of Various Accounts T- Accounts Rules of Debits and Credits Double-entry- Accounting Illustrated Application of Rules

Outline Flow of inventory cost Items and costs of merchandising inventory Assigning costs to inventory Lower of cost or market Errors in measuring inventory Inventory estimating method

Outlines Accounting standards: a tool for trusting Introduction of Accounting Standards Accounting Standards in China ABrief of Accounting Theory