Introduction to Accounting

Headline News

  1. What is the headline about?
  2. What GAAP’s and IFRS are involved?
  3. Who is this important to?


The History of Accounting


Review: The internal and external users of accounting information

Discussion:  The three main activities of accountants – identify, report, communicate

Discussion:  The different types of business and the forms of ownership

Discussion:  The GAAPS and Assumptions and IFRS:

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Additional Practice and Review:
Read Chapter 1, 2 and 3

The Fundamental Accounting Equation and the Financial Statements

Why are we in business?

Discussion: the fundamental accounting equation and how is it that all the financial statements spring forth from this equation?
What are the main financial statements – BS, IS, SOE, Cash Flow