Week 1-3

Week 1-3 - Econ/Mgmt4Spring2010 TopdownViewofAccounting...

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Econ/Mgmt 4 Spring 2010 Top-down View of Accounting  Week 1.3
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Mantra The more we sweat in peace , The less we bleed in war class exams
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The Goal in this class is Both   Production  and Comprehension
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The Reality  We teach  Production   but You teach (yourself) Comprehension
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If you don’t know, don’t panic. Google-it Wiki-it Check the Reader, Dummies Email one of us And practice
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Terminology New words Old words with different meanings  some words become  terms of art  now Abbreviations  we use `em `cause they expedite the talk Online glossary and an acronym finder
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Financial Accounting A formal, highly-stylized Information System Basic Functions (all info systems): 1. Collection 2. Measurement 3. Classification 4. Presentation
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To keep track of … Things  - that a business owns and owes a. cash   b. claims   to  / obligations  for  cash (promises) c. resources  and things - tangible and intangible d. claims   on  / obligations  for  resources e. sources  of financial capital  – money invested in the business Transactions things that a business owns and owe  change .     
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Week 1-3 - Econ/Mgmt4Spring2010 TopdownViewofAccounting...

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