Outline Enterprises Accounting Transactions, Accounting Events, and Accounting Circumstances Economic Activities and Accounting Elements Accounting Equation Task Team of

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

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

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

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

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

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

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

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

Part I: Fill-In-The-Blanks(10\2=20 points) 1. The branch of accounting which aims at serving external users is called accounting 2. A credit entry decreases asset and accounts or increases liabi owner's equity, and revenue accounts