IS365SAPAccountingProcess (1)

IS365SAPAccountingProcess (1) - Slide1 n...

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Slide 1 Introduction to Accounting
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Slide 2 Categories of Accounting n Financial Accounting (FI) is concerned with  recording the financial impacts of business  processes (transactions) as they are recorded n Usually external sources are interested in these  outcomes n Financial statements n Tax and regulatory requirements n Managerial Accounting (controlling) (CO) is of  interest to the business itself n Managerial reporting
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Slide 3 Background n For this lecture, I assume that you have taken  your core accounting classes. You should be  familiar with n T accounts n GL / AP / AR n Account categories n Asset / Liability / Capital / Income / Expense
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Slide 4 Financial Accounting  Processes n Primary Ledger n General Ledger (GL) contains the primary  source data used in financial reporting n Subsidiary ledgers n Accounts payable accounting is concerned with  procurement  (chapter 4) n
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