Accounting and the Business Environment(英文版)(ppt 51页).ppt

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Accounting and theBusiness Environment
Chapter 1
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Objective 1
Use accounting vocabulary
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Accounting
Measures
Processes
Communicates…..
Financial information to decision makers
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Decision Makers
Individuals
Businesses
Investors
Creditors
Taxing Authorities
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Financial vs. Managerial Accounting
Financial Accounting – Information for people outside of the company
Managerial Accounting – Information for internal decision makers
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Governing Organizations
FASB – Financial Accounting Standards Board
SEC – Securities and Exchange Commission
AICPA – American Institute of Certified Public Accountants
IMA – Institute of Management Accountants
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Ethics
Audit
Examination of company’s financial situation
Performed by independent accountants
Sarbanes-Oxley Act
Criminal offense to falsify financial statements
Public Companies Accounting Oversight Board
Monitors work of accountants
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Standards of Professional Conduct
AICPA – Code of Professional Conduct for Accountants
IMA – Standards of Ethical Conduct
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Types of Business Organizations
Proprietorships
Partnerships
Corporations
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Objective 2
Apply accounting concepts and principles