财务会计(机械工业出版社) C01

LO3
McGraw-Hill/Irwin
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External Users of Accounting Information
•Owners •Creditors •Potential investors
•Labor unions
Objectives of Management Accounting Information
To help achieve goals and missions
To help evaluate and reward decision makers
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(CEO) Chief financial officer (CFO) Vice presidents Business unit managers Plant managers Store managers Line supervisors
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Provide information useful in assessing amount, timing and uncertainty of future cash flows.
Objectives of External Financial Reporting
Provide information useful in making investment and credit decisions.
Usefulness Enhanced via Explanation Broader than Financial Statements
Based on General-Purpose Assumption Results from Inexact and Approximate Measures
LO2
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2008
Accounting Systems
An accounting system consists of the personnel, procedures, technology, and records used by an organization to develop accounting information and to communicate this information to decision makers.
Summarize and communicate information to decision makers.
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© The McGraw-Hill Companies, Inc., 2008
Components of Internal Control
Control Environment
McGraw-Hill/Irwin
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Learning Objective
Financial & Managerial Accounting
The Basis for Business Decisions
FOURTEENTH EDITION
Williams
McGraw-Hill/Irwin
Haka
Bettner
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Chapter
1
Accounting
Information for Decision Making
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2008
Learning Objective
To discuss accounting as the language of business and the role of accounting information in making economic decisions.
Characteristics of Management Accounting Information
Timeliness A Means to an End Identify Decision Maker
Measures of Efficiency and Effectiveness
Oriented Toward Future
LO4
McGraw-Hill/Irwin
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Users of Internal Accounting Information
Board of directors Chief executive officer
Business Unit Managers
V.P. Human Resources
Plant Managers
Plant Managers
Controller
Treasurer
Plant Accountants
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Plant Accountants
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(General)
McGraw-Hill/Irwin
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Objectives of External Financial Reporting
Balance Sheet Income Statement
Statement of Cash Flows
McGraw-Hill/Irwin
Historical in Nature
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Learning Objective
To explain the importance of financial accounting information for internal parties—primarily management—in terms of the objectives and the characteristics of that information.
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Basic Functions of an Accounting System
Interpret and record business transactions. Classify similar transactions into useful reports.
Tax
Managerial
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Learning Objective
To discuss the significance of accounting systems in generating reliable accounting information, and understand the five components of internal control per COSO’s Internal Control— Integrated Framework.
The primary financial statements.
McGraw-Hill/Irwin
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Characteristics of Externally Reported Information
A Means to an End
Decision makers
Accounting
information
Actions (decisions)
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Types of Accounting Information
Financial
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Information System
Information Users Investors Creditors Managers Owners Customers Employees Regulators -SEC -IRS -FTC
Owners
Board of Directors
பைடு நூலகம்
Chief Executive Officer (CEO)
Typical Simple Organization Chart
V.P. Information Services Chief Financial Officer (CFO)
V.P Ethics
LO1
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2008
The accounting process
Economic activities