INTRODUCTION TO FINANCIAL ACCOUNTING.pdf - ACC 406...

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/11 '#)$7/ntroduIction to4,inGnIciGl/IcIcountingϭ
/($51,1* 2%-(&7,9(6&''')t the end of this chapter° you should be able to" "±+++-xplain difference terms and basic concepts of financialaccounting±//1dentify the users of accounting information±***,istinguish the different types of business organization±***,ifferentiate between bookkeeping and accounting±
'(),1,7,21 2) $&&2817,1*±<he process ofclassifying° recording and summarizingoftransactions and business events in monetary terms° andinterpretingthe results to interested parties ±users of financialstatements² to assist them in decision making³
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CH$R$CTERISTICS OF SOLEPROPRIETORSHIP± P$RTNERSHIP $NDCOMP$NY²³OWNERSHIP6ROH 3URSULHWRUVKLS3DUWQHUVKLS&RPSDQ\& 3ULYDWH/LPLWHG&RPSDQ\& 3XEOLF/LPLWHG؟=sually owned bysingle owner؟57n his´her ownname؟46ormal" " µ¶µ·partners؟68rofessionals" " µ¶¸·partners؟68artners contributecapital and are thelegal owners of thebusiness؟µ¶¹· shareholders؟;hares are offered toa certain group ofpeople only and notopened to the public؟;hares are not listedin the share market؟µ to unlimitednumber ofshareholders؟<he ownership isopened to the publicthrough the selling ofshares؟;hares are listed inthe share market²´
±³ &$3,7$/ &2175,%87,216ROH3URSULHWRUVKLS3DUWQHUVKLS&RPSDQ\& 3ULYDWH/LPLWHG&RPSDQ\& 3XEOLF/LPLWHG؟--/et the capitalfrom personalsavings° loans fromrelatives andfriends° loans fromfinancial institutions؟<he size of capitalis small؟--/et the capitalfrom contributionby the partnersaccording to thepercentage agreed³؟<he size of capitalis larger than soleproprietor؟)))+ollected from theunits of sharesbought؟<he size is quitelarge؟)))+ollected from theselling of shares topublic؟<he size of capitalis large²²

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Term
Summer
Professor
Siti Halijah
Tags
Business Law, Corporation, Types of companies, Legal entities

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