Financial Accounting LECTURE 01 INTRODUCTION Course Policy Policy

  • Slides: 11
Download presentation
Financial Accounting LECTURE 01 INTRODUCTION

Financial Accounting LECTURE 01 INTRODUCTION

Course Policy � Policy for the distribution of marks and examination is as follows:

Course Policy � Policy for the distribution of marks and examination is as follows: � Class performance & attendance � Presentation � Assignment � Midterms � Final 10 marks 05 marks 30 marks 50 marks

Accounting Language of Business…… • The business Manager cashier and salesmen use the term

Accounting Language of Business…… • The business Manager cashier and salesmen use the term accounting to explain the business events.

Accounting is the brain of business….

Accounting is the brain of business….

Accounting Definition �Accounting is art of recording , classifying and summarizing in significant manner

Accounting Definition �Accounting is art of recording , classifying and summarizing in significant manner in terms of money, transaction and events which are in part at least of a financial character and interpreting the results thereof.

Why financial accounting needed? �The need for recording financial transactions arises because the individual

Why financial accounting needed? �The need for recording financial transactions arises because the individual or business wants to know the performance and to assist the person in making decisions related to the business.

Accounting Eyes and ears for Management……. .

Accounting Eyes and ears for Management……. .

Business �Business is an activity undertaken with the objective of earning profit. Servicing Trading

Business �Business is an activity undertaken with the objective of earning profit. Servicing Trading Producing or Manufacturing

Classification Of Business Organizations �Sole ownership �Partnership �Corporation

Classification Of Business Organizations �Sole ownership �Partnership �Corporation

Transaction Any exchange of value is called Transaction…. .

Transaction Any exchange of value is called Transaction…. .

Classification of transactions �Barter Transaction �Cash Transaction �Credit transactions

Classification of transactions �Barter Transaction �Cash Transaction �Credit transactions

Financial reporting financial accounting Financial reporting financial accountingFinancial reporting financial accounting Financial reporting financial accounting
Intermediate Financial Accounting I Financial Accounting and AccountingIntermediate Financial Accounting I Financial Accounting and Accounting
Financial Accounting Lecture 02 Financial Accounting Lecture 02Financial Accounting Lecture 02 Financial Accounting Lecture 02
Financial Management Accounting Financial Management Accounting Financial ManagementFinancial Management Accounting Financial Management Accounting Financial Management
Accounting for Financial Institutions Banks Accounting Banks AccountingAccounting for Financial Institutions Banks Accounting Banks Accounting
1 Financial Accounting and Accounting Standards Intermediate Accounting1 Financial Accounting and Accounting Standards Intermediate Accounting
Overview Of Cost Accounting Financial Accounting Cost AccountingOverview Of Cost Accounting Financial Accounting Cost Accounting
Financial Accounting What is accounting Accounting is theFinancial Accounting What is accounting Accounting is the
Financial Accounting What is accounting Accounting is theFinancial Accounting What is accounting Accounting is the
INTERMEDIATE FINANCIAL ACCOUNTING CHAPTER 20 Accounting changes AccountingINTERMEDIATE FINANCIAL ACCOUNTING CHAPTER 20 Accounting changes Accounting