Introduction to Accounting

Introduction to Accounting - Introduction to Accounting...

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    Introduction to  Accounting Business Management Holland Spring 2007
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    Financial Accounting Preparation of Financial Statements Help investors evaluate the performance of a  company External influences on decision making
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    Financial Statements Financial Accounting typically includes the  preparation of the: Income Statement (profit and loss statement) Balance Sheet (statement of financial position) Reports include listing of: Assets  Liabilities Owner’s Equity
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    Managerial Accounting Means by which an organization’s accounting staff helps  management plan and control the organization’s  activities Planning : Process of deciding how to use available resources How to use resources to meet objectives Control : Prevent undesirable departures from planned results Keep track of what is happening Interpret and Act
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Introduction to Accounting - Introduction to Accounting...

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