专业英语chapter1

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1、Financial&ManagerialAccountingTheBasisforBusinessDecisionsFOURTEENTHEDITIONWilliamsHakaBettnerCarcelloAccountingInformationforDecisionMakingChapter1LearningObjectiveLO1Todiscussaccountingasthelanguageofbusinessandtheroleofaccountinginformationinmakingeconomicdecisions.Accou

2、ntinginformationTheaccountingprocessDecisionmakersEconomicactivitiesActions(decisions)Accounting“links”decisionmakerswitheconomicactivities¾andwiththeresultsoftheirdecisions.TypesofAccountingInformationFinancialManagerialTaxLearningObjectiveLO2Todiscussthesignificanceofacco

3、untingsystemsingeneratingreliableaccountinginformation,andunderstandthefivecomponentsofinternalcontrolperCOSO’sInternalControl—IntegratedFramework.AccountingSystemsAnaccountingsystemconsistsofthepersonnel,procedures,technology,andrecordsusedbyanorganizationtodevelopaccounti

4、nginformationandtocommunicatethisinformationtodecisionmakers.InformationUsersInvestorsCreditorsManagersOwnersCustomersEmployeesRegulators-SEC-IRS-FTCDecisionsSupportedPerformanceevaluationsStockinvestmentsTaxstrategiesLaborrelationsResourceallocationsLendingdecisionsBo

5、rrowingInformationSystemFinancialInformationProvidedProfitabilityFinancialpositionCashflowsBasicFunctionsofanAccountingSystemSummarizeandcommunicateinformationtodecisionmakers.Classifysimilartransactionsintousefulreports.Interpretandrecordbusinesstransactions.LearningObjec

6、tiveLO3Toexplaintheimportanceoffinancialaccountinginformationforexternalparties—primarilyinvestorsandcreditors—intermsoftheobjectivesandthecharacteristicsofthatinformation.ExternalUsersofAccountingInformationOwnersCreditorsPotentialinvestorsLaborunionsGovernmentalagenciesSu

7、ppliersCustomersTradeassociationsGeneralpublicProvideinformationabouteconomicresources,claimstoresources,andchangesinresourcesandclaims.Provideinformationusefulinassessingamount,timinganduncertaintyoffuturecashflows.Provideinformationusefulinmakinginvestmentandcreditdecisio

8、ns.(Specific)(General)ObjectivesofExternalFinancialReportingObjectivesofExternalF