What is accounting Financial and Managerial accounting 3. Ethics in Accounting 4. Accounting principles General principles: basic assumptions, concepts, and guidelines for preparing financial statements. Specific principles: detailed rules used in reporting business transactions and events. GAAP FASB and ...
Accounting principles 4. Accounting principles General principles: • basic assumptions, concepts, and guidelines for preparing financial statements. Specific principles: • detailed rules used in reporting business transactions and events. © The McGraw-Hill Companies, Inc., 2005 McGraw-Hill/Irwin ...
The rules of principles.(accounting)Carlino, Bill
Specific principles: detailed rules used in reporting business transactions and events.,Financial accounting practice is governed by concepts and rules known as generally accepted accounting principles (GAAP).,GAAP,The Securities and Exchange Commission is the government group that establishes reporting ...
Principles of Accounting Principles are accounting rules used to prepare, present, and report financial statements. Principles dictate how events should be recorded and reported. Cost Principle Assets are recorded at historical cost, not fair market value. For example, if a company purchases a buildin...
会计学原理英文ppt课件Chapter_01ACCOUNTINGINBUSINESS ImportanceofAccounting C1 Accounting IdentifyingSelecttransactionsandevents RecordingInput,measureandclassify CommunicatingPrepare,analyzeandinterpret UsersofAccounting C2 Information ExternalUsers InternalUsers •Lenders•ConsumerGroups•Shareholders•ExternalAuditors ...
GAAP:GenerallyAcceptedAccountingPrinciples.GAAPisthe“law”ofaccounting–rulesforprovidingtheinformationthatisacceptabletothemajorityofwesterncountries.FASB:FinancialAccountingStandardBoard.FASBformulatestheaccountingstandardsofUSA,thatis,theGAAP.IASB:InternationalAccountingStandardBoard.IASBformulatestheaccountingstandardsin...
Companies use accounting to detail their financial information in readable reports. In the United States, generally accepted accounting principles (GAAP) are the law of the land. GAAP is a set of conceptual principles rather than a rules-based accounting
Accounting principles are rules and guidelines that companies must abide by when reporting financial data. Which method a company chooses at the outset—or changes to at a later date—must make sound financial sense. Whether it’s GAAP in the U.S. or IFRS elsewhere, the overarching goal of ...
第2章 Accounting Cycle《会计英语》PPT课件 02 CHAPTER AccountingCycle UNIT 01 Accounting Equation andDouble-entry Accounting Unit1AccountingEquationandDouble-entryAccounting ➢ACCOUNTINGEQUATION.Thefinancialconditionorpositionofa businessenterpriseisrepresentedbytherelationshipofassets,liabilities,andequity,andis...