Cost of Goods Sold is the manufacturing cost of all goods that were sold during the period. 2-* 4 2-* Traditional Cost Management Systems Traditional Cost Accounting Assumes all costs can be classified as fixed or variable with respect to changes in units or volume. Allocates costs that are...
TheNeedforAccounting Accountantsanswerthesequestions withtwomajorfinancialstatements: IncomeStatement BalanceSheet BusinessTransactions Atransactionisanyeventthataffectsthe financialpositionofanorganization andrequiresrecording. BalanceSheet Thebalancesheet(alsocalledstatementoffinancialpositionorstatementoffinancialcondition)isa...
Basic Accounting Principles BasicAccountingPrinciples TheFinancialStatements AccountingTerms ➢Account •Agroupofitemshavingcommoncharacteristics ➢TypesofAccounts •Asset Liability •Income Expense •Equity ChartofAccounts ➢Listingofalloftheaccountsusedbyabusiness AssetAccounts ➢ItemsofValue➢...
Basic Management Accounting and Control Concepts管理会.ppt,0109 201305241324 Basic Management Accounting and Control Concepts 管理会计与控制基本概念 Managerial Accounting and Financial Accounting 管理会计与财务会计 Managerial accounting provides informat
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Concept#1:MoneyMeasurement(货币计量)Accountingrecordsarerecordedinmonetarytermsatthevalueattimetransactionisrecorded.Thisisaseverelimitation.Arecordismadeonlyofinformationthatcanbeexpressedinmonetaryterms.Ifsomethingcan’tbevalueditcan’tberecorded;e.g.,president’shealth,affectofstrike.
Ethicalaccountingpracticesbuildtrustandpromoteloyal,productiverelationshipswithusersofaccountinginformation.会计职业道德使会计人员与会计信息的使用者之间能够建立相互诚信的关系。Manycompaniesandprofessionalorganizations,suchastheInstituteofManagementAccountants(IMA),havewrittencodesofethicswhichserveasguidesforemployees.许多公司...
《会计学》专业英语Chapter 5-Preparing basic financial statements.ppt,section overview To prepare the statement of financial position,the profit and loss ledger account balance is transferred to the capital ledger account. All the remaining balances (on t