,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Ye and Sun Accounting English 2009,*,Ye and Sun Accounting English 2009,1,Lesson,1,An Introduction to Accounting,Ye and Sun Accounting English,Accounting,information,The accounting process,Decision makers,Economic activities,Actions(decisions),Accounting thinks decision makers with economic activities,and with the results of their decisions.,1.1 Accounting is an information system,Ye and Sun Accounting English 2009,2,The accounting processDecision,1.2 Forms of organization,Sole proprietorship,Owned by one person.,Owner is personally responsible for business debts.,Partnership,Owned by two or more persons.,Partners are personally responsible for all partnership debts.,Corporation,Owned by shares of stock.,A corporation is a separate legal entity.,It is responsible for its own debts.,Ye and Sun Accounting English 2009,3,1.2 Forms of organization Sole,1.3 Framework for Preparation and presentation of financial statements,IASC since 1973,IASB since 2001,There is a growing trend to adopt accounting standards that are in harmony with international accounting standards.,Ye and Sun Accounting English 2009,4,1.3 Framework for Preparation,Ye and Sun Accounting English 2009,5,Some accounting concepts and principles:,business entity,objectivity,cost principle,going-concern,monetary unit,time period,revenue recognition or realization principle,matching principle,full-disclosure principle,consistency principle,materiality principle,conservatism principle,Ye and Sun Accounting English,Ye and Sun Accounting English 2009,6,1.4 Understanding financial statements,The,statement of comprehensive income,(income statement)summarizes financial performance resulting from income(revenue and gains),less,expenses(including losses).,The statement of changes in equity,reconciles changes in equity(increases are caused by owner investments and net income,while decreases result from owner withdrawals/dividends and net losses.,The statement of financial position,(balance sheet)details assets,liabilities,and equity.,The statement of cash flows,shows the cash inflows and outflows from operating activities,investing activities,and financing activities.,Users of accounting information investors and creditors etc.,Ye and Sun Accounting English,Ye and Sun Accounting English 2009,7,1.4 Understanding financial statements,The income statement summarizes net profit(or net loss)resulting from revenues less expenses.,The statement of owner,s equity reconciles changes in owner,s equity(increases are caused by owner investments and net profit,while decreases result from owner withdrawals and net losses).,The balance sheet details assets,liabilities,and equity.,The statement of cash flows shows the cash inflows and outflows from operating,investing and financing activities.,Users of accounting information investors and creditors etc.,Ye and Sun Accounting English,Ye and Sun Accounting English 2009,8,1.5 Accounting and its profession,There are three basic types of accountants:,Private accountants work for a single employer.,Public accountants are available to the public.,Government accountants work for local,provincial,and federal government agencies.,Ye and Sun Accounting English,Ye and Sun Accounting English 2009,9,Fields of accounting,financial,managerial,taxation,accounting-related,Ye and Sun Accounting English,Ye and Sun Accounting English 2009,10,1.6 Using the accounting equation,Business transact