Kế toán, kiểm toán - Chapter 1: Accounting - Present and past

Learning Objectives

What is the FASB?

Who uses accounting information and why?

What is accounting?

What do accountants do?

Where did accounting come from?

 

ppt22 trang | Chia sẻ: hongha80 | Lượt xem: 486 | Lượt tải: 0download
Bạn đang xem trước 20 trang nội dung tài liệu Kế toán, kiểm toán - Chapter 1: Accounting - Present and past, để xem tài liệu hoàn chỉnh bạn click vào nút DOWNLOAD ở trên
CHAPTER 1ACCOUNTING -PRESENT AND PASTMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objectives What is the FASB?Who uses accounting information and why?What is accounting?What do accountants do?Where did accounting come from?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objectives Where did accounting standards come from?What are the accounting ethical standards?What is the Conceptual Framework?Why do businesses report financial information?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objective 1What is accounting?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Accounting is the process of:IdentifyingMeasuringCommunicatingEconomic information about an entity>For decisions and informed judgmentsMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objective 2Who uses accounting information and why?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Users of Accounting InformationManagement - planning, directing, controllingInvestors - returnCreditors - probability of collectionEmployees - job prospects and retirement benefitsSEC - full disclosure of financial informationMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objective 3What do accountants do?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Professional Services Provided by AccountantsFinancial AccountingManagerial/Cost AccountingAuditing - Public AccountingInternal AuditingGovernmental and Not-for-Profit AccountingIncome Tax AccountingMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objective 4Where did accounting come from?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Early History of AccountingFound accounting records on Mesopotamian clay tablets from 3000 BCLuca Pacioli published a description of double-entry bookkeeping systems in 1494Industrial revolution led to non-owner managers who needed to report financial information to ownersMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Accounting Profession in the United StatesThe Securities Act of 1933 and the Securities Exchange Act of 1934 gave the SEC the authority to establish accounting principles for SEC firmsThe SEC delegated standard setting to other organizationsCommittee on Accounting Procedure 1939 - 1959Accounting Principles Board 1959 -1973Financial Accounting Standards Board 1973 - present©The McGraw-Hill Companies, Inc., 2002McGraw-Hill/IrwinLearning Objective 5What is the FASB?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Financial Accounting Standards BoardHas issued seven concept statementsHas issued over 140 standards statementsUses due process is setting standardsMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objective 6Where did accounting standards come from?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Other Accounting StandardsCost Accounting Standards Board - government contracts, colleges and universities that receive federal research fundsGovernmental Accounting Standards Board - state and local governmentsInternational Accounting Standards Committee - seeks comparability of financial statements across nationsMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objective 7What are the accounting ethical standards?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Ethics in the Accounting ProfessionAmerican Institute of Certified Public AccountantsInstitute of Management AccountantsIntegrity - honest and forthrightObjectivity - impartial and free from conflicts of interestMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objective 8What is the Conceptual Framework?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Conceptual FrameworkStandards are based on a foundation provided by the Statements of Financial Accounting Concepts:Objectives of financial reportingQualitative characteristics of accounting informationElements of financial statementsRecognition and measurement in financial statementsUsing cash flow informationMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Learning Objective 9Why do businesses report financial information?McGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002Concepts Statement No. 1: Objectives of Financial ReportingIntended for investors and creditorsFor assessing the amounts, timing, and uncertainty of prospective cash flowsFor providing information about economic resources and claims to those resourcesMcGraw-Hill/Irwin©The McGraw-Hill Companies, Inc., 2002

Các file đính kèm theo tài liệu này:

  • pptch01powerpoint_9057.ppt
Tài liệu liên quan