August_24_slides

August_24_slides - ORIE 350 Financial and Managerial...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
    ORIE 350 Financial and Managerial  Accounting Lecture #1 August 24, 2006 Fall 2006
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
    First, a definition Accounting is an information system that measures, processes, and communicates financial information about an economic entity (like a business). Not all aspects of a business are described by the accounting system. For example, the quality of the company’s products and the workplace environment are not described by the accounting system. But a large portion of what goes on in a business is included in the accounting information.
Image of page 2
    Financial Accounting A. There are three basic types of business organizations in the USA: a. Sole Proprietorship (single owner) b. Partnership (several owners) c. Corporation (owners are stockholders) We will focus on the last type. A corporation is a separate legal entity.
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
    What else should we know? Accounting is a link between business activities and decision makers. This allows a decision maker to run a large business, as all aspects of the business do not have to be observed first-hand.
Image of page 4
    More introduction
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern