ACCT1101 - Lecture 1

7 summaryoflearningactivitiesobjectives

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Unformatted text preview: equip you with some important tools and equip techniques for understanding a broad range of accounting and business issues. 7 Summary of Learning Activities Objectives Summary of Learning Activities Objectives Lectures 1: • Identify and understand accounting information for making decisions in business. Lecture 2 & 3: • Developing a Business Plan: Cost­Volume­Profit (CVP) Analysis and Budgeting. Lecture 4, 5 & 6 • Understand financial reports (Balance Sheet, Income Statement and Statement of Changes in Equity) and their relationship with business activities. Lecture 7: • Analysis of Financial Statements through ratio calculations Lecture 8: • Prepare and understand the Cash Flow Statement Lectures 9 to 11: • Financing Activities: understand information relating to the providers of finance to the business ­ lenders and shareholders equity. • Investing Activities: understand information about investing activities, analysis and evaluation of capital investment decisions. • Operating Activities: understand information about operating activities (revenues, costs LECTURE 1 LECTURE Accounting and Organisations Accounting Reading: Lecture Notes & Juchau et al Chapter 1 Lecture Objectives: 1. 2. 3. 4. 5. 6. 7. Identify the different stages of decision making What is accounting information and who uses it? Compare the main types of organisations explaining their purpose. Describe how businesses create value. Explain how accounting helps investors and other decision makers understand businesses. Identify business ownership structures and their advantages and disadvantages. Explain why ethics are important for businesses and accounting. 9 1. Identify the different stages of Decision Making Process (Problem Solving) Making 10 CREATIVE & CRITICAL THINKING CREATIVE Creative Critical Process Process of generating ideas for possible solutions to a problem of evaluating ideas to select the “best” solution to a problem 11 Creative & Critical Thinking Creative “IF THE ONLY TOOL YOU HAVE IS A HAMMER, YOU TEND TO SEE EVERY PROBLEM AS A NAIL.” In ACCT1101 throughout the semester we will build you...
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