会计学原理-英文版-第21版--第一章Accounting-in-Bussiness

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Generally Accepted
Accounting Principles (GAAP)
Financial accounting is governed by concepts and rules known as generally accepted accounting principles (GAAP). GAAP aims
International Financial Reporting Standards (IFRS)
International Financial Reporting Standards (IFRS)
Identify preferred accounting practices
Differences between U.S. GAAP and IFRS are decreasing as the
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Accounting in Business
Chapter 1
PowerPoint Authors: Susan Coomer Galbreath, Ph.D., CPA Charles W. Caldwell, D.B.A., CMA Jon A. Booker, Ph.D., CPA, CIA Cynthia J. Rooney, Ph.D., CPA
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Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
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Accounting in Business
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C1 Importance of Accounting
For example, the sale by Apple of an iPhone.
arises when companies wish to raise money from lenders and investors in different countries.
International Accounting Standards Board (IASB)
An independent group (consisting of individuals from many countries), issues
to make information relevant, reliable, and comparable.
Relevant information affects decisions of users.
Reliable information is trusted by users.
Comparable information is helpful in contrasting
people make better decisions. Accounting serves many users who can be divided into two groups: external users and internal users.
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Opportunities in Accounting
risk of getting caught
Fails to see the criminal nature of the fraud or justifies the action
Must have some pressure to
commit fraud精,品li文ke档unpaid bills
Keep a chronological log of transactions.
Prepare reports such as financial statements.
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C1 Users of Financial Information
Accounting is called the language of business because all organizations set up an accounting information system to communicate data to help
Accounting information is in all aspects of our lives. When
we earn money, pay taxes, invest savings, budget
earnings, and plan for the future, we use accounting.
good and bad behavior.
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Fraud Triangle
Three factors must exist for a person to commit fraud: opportunity, pressure, and rationalization.
Envision a way to commit fraud with a low perceived
organizations.
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C4 International Standards
In today’s global economy, there is increased demand by external users for comparability in accounting reports. This demand often
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Ethics – A Key Concept
The goal of accounting is to provide useful information for decisions. For information to be useful, it must be trusted. This demands ethics in accounting. Ethics are beliefs that distinguish right from wrong. They are accepted standards of