BMGT 220 - Chapter 1

BMGT 220 - Chapter 1 - BMGT 220 Principles of Accounting I...

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BMGT 220 Principles of Accounting I Dr. Progyan Basu pbasu@rhsmith.umd.edu R.H. Smith School of Business Van Munching Hall 4333R (301)405-4042
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Introducing Accounting In Business C H A P T E R 1
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College Majors That Will Get You A  Job http://www.forbes.com/2009/01/16/college-majors-jobs-leadership-careers-cx_tw_0116majors.html n College Majors That Will Get You A Job - Most don't guarantee that right now, but a handful are in real demand. n Tara Weiss , 01.16.09, 06:10 PM EST 10 College Majors To Go For Now n 1. Accounting n 2. Mechanical Engineering n 3. Electrical Engineering n 4. Computer Science n 5. Business Administration n 6. Economics/Finance n 7. Information Systems n 8. Computer Engineering n 9. Management Information Systems n 10. Marketing n Accountants are coming into great demand as businesses submit to greater oversight after the subprime mortgage meltdown. The Obama administration is calling for greater oversight of the financial markets, and accountants will be particularly needed in government, where they'll be the people who devise new regulations.
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Identifies / Analyzes Records (Bookkeeping) Communicates (Financial Statements) Relevant Reliable Comparable Importance of Accounting Accounting is a system that information that is to help users make better decisions.
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Œ Identifying Business Activities ± Recording Business Activities ² Communicating Business Activities Accounting Activities
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Users of Accounting Information External Users Financial accounting provides external users with financial statements. Internal Users Managerial accounting provides information needs for internal decision makers.
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Financial accounting practice is governed by concepts and rules known as generally accepted accounting principles (GAAP) .
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This note was uploaded on 04/09/2012 for the course BMGT 220 taught by Professor Bulmash during the Fall '08 term at Maryland.

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BMGT 220 - Chapter 1 - BMGT 220 Principles of Accounting I...

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