Introduction_and_Review

Introduction_and_Review - = Owners equity Common stock...

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Similarities between Financial and Managerial Accounting
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Differences between Financial and Managerial Accounting
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The Accounting Process Business Activities Accounting Transactions Measurement: Recording Data Processing: Classification/ Summary Communication: Budgets, Reports, Statements, Analysis Accounting Information System Decision Makers Information Needs Information Flows/Reports Action Data Interpretation
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P l a n i g C om p o e t O r m Planning-Operating-Control Cycle
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1 The Value Chain Research and Development Design Production Marketing Distribution Value of goods and services to customers The linked set of activ ities tha t increase the va lue of goods or services Customer Service Start
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Accounting Framework Total liabilities and owners’ equity Total assets
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Unformatted text preview: = Owners equity Common stock Retained earnings Non-current liabilities Total liabilities Non-current assets Land Plant & equipment Other Revenue (Expenses) Income Current liabilities Accounts payable Other accrued liabilities Current assets Cash Accounts receivable Inventory Other Operations Investing Financing Total CF Liabilities + Owners Equity Assets = Income Statement Balance Sheet Cash Flow Statement Rules of Debit and Credit Master T Account Assets Liabilities dr. cr. dr. cr. +--+ Equities dr. cr.-+ Expenses Revenues dr. cr. dr. cr. +--+...
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This note was uploaded on 04/22/2008 for the course ACC 301 taught by Professor Bruns during the Fall '08 term at Northeastern.

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Introduction_and_Review - = Owners equity Common stock...

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