文档介绍：Chapter 1
Introduction to Accounting and Business
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud Professor Emeritus of Accounting Pepperdine University
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1. Describe the nature of a business.
2. Describe the role of accounting in business.
3. Describe the importance of business ethics and the basic principles of proper ethical conduct.
4. Describe the profession of accounting.
5. Summarize the development of accounting principles and relate them to practice.
6. State the accounting equation and define each element of the equation.
Objectives
After studying this chapter, you should be able to:
7. Explain how business transactions can be stated in terms of the resulting change in the basic elements of the accounting equation.
Objectives
8. Describe the financial statements of a proprietorship and explain how they interrelate.
9. Use the ratio of liabilities to owner’s equity to analyze the ability of a business to withstand poor business