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

Outline Segmented Reporting and Responsibility Accounting System Cost- Volume-Profit- Analysis Budgeting and Budgetary Control Standard Costs and Variance Analysis Managerial Decision Making 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

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

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

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 12 Internal Controls and Business Ethics Self-Test True or False 1. The accounts receivable subsidiary ledger controls the accounts receivable account in the