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1、Copyright 2007 Prentice-Hall.All rights reservedAccounting and theAccounting and theBusiness EnvironmentBusiness EnvironmentChapter 11Copyright 2007 Prentice-Hall.All rights reservedObjective 1Objective 1Use accounting vocabulary2Copyright 2007 Prentice-Hall.All rights reservedAccountingAccountingMe
2、asuresProcessesCommunicates.Financial information to decision makers3Copyright 2007 Prentice-Hall.All rights reservedDecision MakersDecision MakersIndividualsBusinessesInvestorsCreditorsTaxing Authorities4Copyright 2007 Prentice-Hall.All rights reservedFinancial vs.Managerial AccountingFinancial vs.
3、Managerial AccountingFinancial Accounting Information for people outside of the companyManagerial Accounting Information for internal decision makers5Copyright 2007 Prentice-Hall.All rights reservedGoverning OrganizationsGoverning OrganizationsFASB Financial Accounting Standards BoardSEC Securities
4、and Exchange CommissionAICPA American Institute of Certified Public AccountantsIMA Institute of Management Accountants6Copyright 2007 Prentice-Hall.All rights reservedEthicsEthicsAuditExamination of companys financial situationPerformed by independent accountantsSarbanes-Oxley Act Criminal offense t
5、o falsify financial statementsPublic Companies Accounting Oversight Board Monitors work of accountants7Copyright 2007 Prentice-Hall.All rights reservedStandards of Professional ConductStandards of Professional ConductAICPA Code of Professional Conduct for AccountantsIMA Standards of Ethical Conduct8
6、Copyright 2007 Prentice-Hall.All rights reservedTypes of Business Types of Business OrganizationsOrganizationsProprietorshipsPartnershipsCorporations9Copyright 2007 Prentice-Hall.All rights reservedObjective 2Objective 2Apply accounting concepts and principles10Copyright 2007 Prentice-Hall.All right
7、s reserved GAAP GAAP Generally Accepted Accounting PrinciplesAccounting guidelines that govern how accountants measure,process,and communicate financial informationFormulated by Financial Accounting Standards Board(FASB)11Copyright 2007 Prentice-Hall.All rights reservedGAAPGAAPPrimary objective of f
8、inancial accounting provide information that is useful for making investment and lending decisions12Copyright 2007 Prentice-Hall.All rights reservedEntity ConceptEntity ConceptAccounting Entity organization that stands apart as a separate economic unit13Copyright 2007 Prentice-Hall.All rights reserv
9、edAccounting information is based on the most reliable data availableVerifiableFree from biasIndividuals would arrive at similar conclusions using same dataReliability(Objectivity)PrincipleReliability(Objectivity)Principle14Copyright 2007 Prentice-Hall.All rights reservedCost PrincipleCost Principle
10、Acquired assets and services should be recorded at their actual cost(historical cost)15Copyright 2007 Prentice-Hall.All rights reservedGoing Concern ConceptGoing Concern ConceptAssumes that the entity will remain in operation for the foreseeable future16Copyright 2007 Prentice-Hall.All rights reserv
11、edStable-Monetary-Unit ConceptStable-Monetary-Unit ConceptAssumes that the dollars purchasing power is stable17Copyright 2007 Prentice-Hall.All rights reservedObjective 3Objective 3Use the accounting equation18Copyright 2007 Prentice-Hall.All rights reservedAssetsAssetsEconomic resources,expected to
12、 benefit the business in the futureCashAccounts receivableMerchandise inventoryFurnitureLand19Copyright 2007 Prentice-Hall.All rights reservedClaims to the AssetsClaims to the AssetsLiabilities economic obligations payable to an individual or organization outside the businessAccounts payableNotes pa
13、yableSalary payable20Copyright 2007 Prentice-Hall.All rights reservedClaims to the AssetsClaims to the AssetsOwners Equity(capital)claim of business owner to the assets of the business 21Copyright 2007 Prentice-Hall.All rights reservedEconomicResourcesClaims toEconomicResourcesThe Accounting Equatio
14、nThe Accounting EquationAssets=Liabilities+Owners Equity22Copyright 2007 Prentice-Hall.All rights reservedTransactions that AffectTransactions that AffectOwners EquityOwners EquityOWNERS EQUITYINCREASESOWNERS EQUITYDECREASESOwner InvestmentsRevenuesExpensesOwner WithdrawalsOwners Equity23Copyright 2
15、007 Prentice-Hall.All rights reservedRevenuesRevenuesAmounts earned by delivering goods or services to customersSales revenueService revenueInterest revenueDividend revenue24Copyright 2007 Prentice-Hall.All rights reservedExpensesExpensesDecrease in owners equity that occurs from using assets or inc
16、reasing liabilities in the course of delivering goods or services to customersSalary expenseRent expenseUtilities expenseInterest expense25Copyright 2007 Prentice-Hall.All rights reservedExercise 1-18Exercise 1-18AssetsLiabilitiesOwners EquityPep Boys$?$60,000$21,000Eddie Bauer?40,000Benbrook Exxon1
17、00,00079,000?$81,00032,00021,000$72,00026Copyright 2007 Prentice-Hall.All rights reservedObjective 4Objective 4Analyze business transactions27Copyright 2007 Prentice-Hall.All rights reservedTransactionTransactionAn event that affects the financial position of a particular entity and can be recorded
18、reliably28Copyright 2007 Prentice-Hall.All rights reservedExercise 1-17Exercise 1-17a.Increased assets(cash)b.No effect on total assets c.Decreased assets(cash)d.Increased assets(equipment)29Copyright 2007 Prentice-Hall.All rights reservedExercise 1-17Exercise 1-17e.Increased assets(accounts receiva
19、ble)f.Decreased assets(cash)g.No effect on total assets h.Increased assets(cash)30Copyright 2007 Prentice-Hall.All rights reservedDateAssetsLiabilitiesOwners EquityJulyCashMedical SuppliesLandAccounts PayableM.Lange,CapitalType of TransactionExercise 1-22Exercise 1-2245,000 InvestmentAssets=$45,000L
20、iabilities&Owners Equity=$45,00045,000631Copyright 2007 Prentice-Hall.All rights reservedDateAssetsLiabilitiesOwners EquityJulyCashMedical SuppliesLandAccounts PayableM.Lange,CapitalType of TransactionExercise 1-22Exercise 1-2245,000 Investment35,000Assets=$45,000Liabilities&Owners Equity=$45,00045,
21、0006-35,000945,00035,00010,000Bal32Copyright 2007 Prentice-Hall.All rights reservedDateAssetsLiabilitiesOwners EquityJulyCashMedical SuppliesLandAccounts PayableM.Lange,CapitalType of TransactionExercise 1-22Exercise 1-222,000Assets=$47,000Liabilities&Owners Equity=$47,0002,0001245,00035,00010,000Ba
22、l45,00035,00010,000Bal2,0002,00033Copyright 2007 Prentice-Hall.All rights reservedDateAssetsLiabilitiesOwners EquityJulyCashMedical SuppliesLandAccounts PayableM.Lange,CapitalType of TransactionExercise 1-22Exercise 1-22Assets=$54,000Liabilities&Owners Equity=$54,0007,00015-317,000Revenue52,00035,00
23、017,000Bal2,0002,00045,00035,00010,000Bal2,0002,00034Copyright 2007 Prentice-Hall.All rights reservedDateAssetsLiabilitiesOwners EquityJulyCashMedical SuppliesLandAccounts PayableM.Lange,CapitalType of TransactionExercise 1-22Exercise 1-22Assets=$51,000Liabilities&Owners Equity=$51,00052,00035,00017
24、,000Bal2,0002,000-1,70015-31-1,700Salaries Exp-1,000Rent Exp-1,000-300Utilities Exp-30049,00035,00014,000Bal2,0002,00035Copyright 2007 Prentice-Hall.All rights reservedDateAssetsLiabilitiesOwners EquityJulyCashMedical SuppliesLandAccounts PayableM.Lange,CapitalType of TransactionExercise 1-22Exercis
25、e 1-22Assets=$51,000Liabilities&Owners Equity=$51,000 500 28 -500 49,00035,00014,500Bal2,0001,50049,00035,00014,000Bal2,0002,00036Copyright 2007 Prentice-Hall.All rights reservedDateAssetsLiabilitiesOwners EquityJulyCashMedical SuppliesLandAccounts PayableM.Lange,CapitalType of TransactionExercise 1
26、-22Exercise 1-22Assets=$49,500Liabilities&Owners Equity=$49,500-1,500 31 -1,500 49,00035,00014,500Bal2,0001,50049,00035,00013,000Bal 5001,50037Copyright 2007 Prentice-Hall.All rights reservedObjective 5Objective 5Prepare financial statementsEvaluate business performanceObjective 6Objective 638Copyri
27、ght 2007 Prentice-Hall.All rights reservedFinancial StatementsFinancial StatementsIncome statementStatement of owners equityBalance sheetStatement of cash flows39Copyright 2007 Prentice-Hall.All rights reservedIncome StatementIncome StatementSummary of an entitys revenues,expenses,and net income or
28、net loss for a specific periodRevenues-ExpensesNet Income:Revenues ExpensesNet Loss:Expenses Revenues40Copyright 2007 Prentice-Hall.All rights reservedStatement of Owners EquityStatement of Owners EquitySummary of changes in an entitys owners equity during a specific periodBeginning owners equity+Ow
29、ners investments+Net income-Net loss-Owners withdrawalsEnding owners equity41Copyright 2007 Prentice-Hall.All rights reservedBalance SheetBalance SheetReports the entitys assets,liabilities,and owners equity as of a specific dateAssets=Liabilities+Owners Equity42Copyright 2007 Prentice-Hall.All righ
30、ts reservedStatement of Cash FlowsStatement of Cash FlowsReports cash receipts and cash payments during a period(covered in Chapter 17)43Copyright 2007 Prentice-Hall.All rights reservedMaria Lange,M.D.Maria Lange,M.D.Maria Lange,M.D.Income StatementIncome StatementIncome StatementFor the Month Ended
31、 July 31,2006For the Month Ended July 31,2006For the Month Ended July 31,2006Revenue:Fees earned$7,000Expenses:Salary expense$1,700Rent expense1,000Utilities expense300Total Expenses3,000 Net income$4,00044Copyright 2007 Prentice-Hall.All rights reservedMaria Lange,capital,July 1,2006$0Add:Investmen
32、t by owner45,000Net income for the month4,000Subtotal$49,000 Less:Withdrawals by owner 0Maria Lange,capital,July 31,2006$49,000Maria Lange,M.D.Maria Lange,M.D.Maria Lange,M.D.Statement of Owners EquityStatement of Owners EquityStatement of Owners EquityFor the Month Ended July 31,2006For the Month E
33、nded July 31,2006For the Month Ended July 31,200645Copyright 2007 Prentice-Hall.All rights reservedMaria Lange,M.D.Maria Lange,M.D.Maria Lange,M.D.Balance SheetBalance SheetBalance SheetJuly 31,2006July 31,2006July 31,2006AssetsCash$13,000Medical supplies1,500Land 35,000Total assets$49,500 Liabiliti
34、esAccounts payable$500Owners equity,M.Lange,capital 49,000Total liabilities and owners equity$49,50046Copyright 2007 Prentice-Hall.All rights reservedCash$2,000Accounts receivable6,000Supplies500Equipment15,500 Total Assets$24,000Allen Samuel Road ServiceBalance SheetNovember 30,2009LiabilitiesAccou
35、nts payable$3,500Note payable5,000 Total liabilities$8,500Owners EquityA.Samuel,capital15,500 Total liabilities and owners equity$24,000AssetsExercise 1-24Exercise 1-2447Copyright 2007 Prentice-Hall.All rights reservedExercise 1-26Exercise 1-26Ciliotta Design StudioIncome StatementYear Ended Decembe
36、r 31,2006Service revenue$158,100Expenses:Salary expense$60,000 Rent expense24,000 Utilities expense6,800 Supplies expense4,000 Property tax expense1,200 Total expenses96,000Net income$62,10048Copyright 2007 Prentice-Hall.All rights reservedExercise 1-26Exercise 1-262.Owners withdrawals:3.Ciliottas,c
37、apital,beginning of year$04.Add:Net income62,1005.Investment by owner15,0006.Subtotal$77,1007.Less:Owner withdrawal?8.Ciliotta,capital,end of year$27,100 50,00049Copyright 2007 Prentice-Hall.All rights reservedEnd of Chapter 1End of Chapter 1501、每一个成功者都有一个开始。勇于开始，才能找到成功的路。11月-2211月-22Tuesday,Novembe
38、r 8,20222、成功源于不懈的努力，人生最大的敌人是自己怯懦。05:48:5005:48:5005:4811/8/2022 5:48:50 AM3、每天只看目标，别老想障碍。11月-2205:48:5005:48Nov-2208-Nov-224、宁愿辛苦一阵子，不要辛苦一辈子。05:48:5005:48:5005:48Tuesday,November 8,20225、积极向上的心态，是成功者的最基本要素。11月-2211月-2205:48:5005:48:50November 8,20226、生活总会给你另一个机会，这个机会叫明天。08十一月20225:48:50上午05:48:5011月
39、-227、人生就像骑单车，想保持平衡就得往前走。十一月225:48上午11月-2205:48November 8,20228、业余生活要有意义，不要越轨。2022/11/85:48:5005:48:5008 November 20229、我们必须在失败中寻找胜利，在绝望中寻求希望。5:48:50上午5:48上午05:48:5011月-2210、一个人的梦想也许不值钱，但一个人的努力很值钱。11/8/2022 5:48:50 AM05:48:5008-11月-2211、在真实的生命里，每桩伟业都由信心开始，并由信心跨出第一步。11/8/2022 5:48 AM11/8/2022 5:48 AM11月-2211月-22谢谢大家谢谢大家