ACCT

Ch1 - Accounting in Action1. What is Accounting?- Three activities- Who uses accounting data2. The Building Blocks of Accounting- Ethics in financial reporting- Generally accepted accounting principles- Measurement principles- Assumptions3. The Basic Accounting Equation- Assets- Liabilities- Owner's equity4. Using the Accounting Equation- Transaction analysis- Summary of transactions5. Financial Statements- Income statement- Owner's equity statement- Balance sheet- Statement of cash flows

Ch 1