Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 13 Managerial Accounting I: Concepts and Principles Self-Test I. True and False Questions 1. Managerial accounting places less emphasis on precision and more emphasis on flexibility

1. The three common forms of business organizations are 2. The difference between the increases(including the beginning balance) and decreas recorded in an account is called the account 3. Assets= Liabilities Owner's Equity\is called the equation or balance sheet equation 4 An economic event that changes the financial position of an organization, and that often

Outline Q Describe the preparation of adjusted trial balance Describe and prepare a worksheet and describe its usefulness Describe the closing process and explain why temporary accounts are closed each period

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 A General View of Financial statements Income statement Balance sheet Statement of owners'’ equity Simple Illustration

Outlines Accounting standards: tool for trusting Introduction of Accounting Standards Accounting Standards in China A Brief of Accounting Theory

What is managerial accounting? Comparison between managerial accounting and financial accounting Cost classifications in different ways Flow of manufacturing activities Job order cost accounting systems and process cost accounting systems Cost allocation

Outline The nature of firm; The value of accounting; The Evolution of accounting; Accounting: bird view Task Team of

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

一、企业、经济活动与会计事项 二、经济活动与会计要素 三、会计恒等式