ch01 - Accounting: The Key to Success C H A P T E R 1...

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Accounting: The Key  to Success C H A P T E R  1
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Learning Objectives 1. Describe accounting and its goals and uses. 2. Describe different forms of business organizations. 3. Identify users and uses of accounting. 4. Explain why ethics and social responsibility are crucial to accounting.
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Learning Objectives 1. Describe how technology is changing accounting. 2. Identify opportunities in accounting and related fields. 3. Explain e-business and identify other technology applications useful to accounting. (Appendix 1A)
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What is Accounting? Accounting is an information system that: identifies measures records communicates relevant, reliable, consistent and comparable information about an organization’s economic activities.
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Why? The primary objective of accounting is to provide useful information for decision making.
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Forms of Organization Sole Proprietorship Partnership Corporation
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One owner Separate entity for accounting purposes
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ch01 - Accounting: The Key to Success C H A P T E R 1...

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