21252038
Descrição
Mapa Mental por Taasha Goldbach, atualizado more than 1 year ago
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Criado por Taasha Goldbach
quase 5 anos atrás
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What is Accounting?
- An Information System
- Identifies
- Records
- Communicates
- Identifies
- Identifying economic
events involves
- Selecting economic activities
relevant to a particular
entity
- Examples of
economic events
- Sale of running
shoes & sporting
attire @ Nike
- Payment of
wages by Ford
Motor Company
- Collection of ticket sales
and payment of
expenses by major
sporting clubs
- Sale of running
shoes & sporting
attire @ Nike
- Selecting economic activities
relevant to a particular
entity
- Economic events are
recorded to
- Provide a history of the
entity's financial
activities
- And involves
- Keeping a systematic,
chronological diary of
events, measured in
dollars and cents
- Economic events
are also
classified and
summarised
- Keeping a systematic,
chronological diary of
events, measured in
dollars and cents
- Provide a history of the
entity's financial
activities
- Financial information
is communicated
through
- Accounting
Reports
- Financial
Statements
or
Financial
reports
- Information resulting from
similar transactions is
accumulated and totalled
- Financial
Statements
or
Financial
reports
- Accounting
Reports
- Reporting of recorded
data is done in a
standardised way
- A vital element in communicating
economic events is the accountant’s
ability to analyse and interpret the
reported information.
- ANalysis involves
- Ratios
- Percentages
- Graphs
- Charts
- To Highlight
significant financial
trends and
relationships
- Ratios
- Interpretation
involves explaining
- Uses
- meaning
- limitations
- Of reported data
- Uses
- ANalysis involves
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