Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 6 Accounting for Merchandising Activities Self-Test I. True and False Questions 1. The income statement of a wholesaler includes a deduction from revenue representing the cost

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 9 Financial Statements Self-Test 1. True or Fals 1) Financial statements are standard documents that tell us, in financial terms, how well a

sk Team of FUNDAMENTALACCOUNTING Task T School of Business, Sun Yat-sen University Lesson 10 Understanding and Using Financial Statements Self-Test 1. What type of analysis is indicated by the following? Amount Percent

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

Lesson Notes Lesson 11 Understanding Accounting Standards Learning Objectives 1. Understand the inherent limitation of accounting from trust perspective. 2. Appreciate how accounting standards contributes in trust developing and maintaining 3. Get to know the main contents of accounting standards

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 14 Managerial Accounting: Applications Learning objectives 1. Describe segmented reporting and responsibility accounting system 2. Explain the main aspects of Cost-volume-profit analysis 3. Analyze budgeting and budgetary control

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

Lesson Notes Lesson 6Accounting for Merchandising Activities Learning Objectives 1. Describe merchandising activities and identify business types. 2. Identify and explain the important components of income for a merchandising company

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