文档介绍：该【会计学英语电子版01公开课一等奖课件赛课获奖课件 】是由【梅花书斋】上传分享，文档一共【62】页，该文档可以免费在线阅读，需要了解更多关于【会计学英语电子版01公开课一等奖课件赛课获奖课件 】的内容，可以使用淘豆网的站内搜索功能，选择自己适合的文档，以下文字是截取该文章内的部分文字，如需要获得完整电子版，请下载此文档到您的设备，方便您编辑和打印。Financial Accounting: Tools for Business Decision Making, 4th Ed.
Kimmel, Weygandt, Kieso
CHAPTER 1
Prepared by
Ellen L. Sweatt
Georgia Perimeter College
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Chapter 1
AN INTRODUCTION TO FINANCIAL STATMENTS
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Study Objectives
Describe the primary forms of business organization.
Identify the users and uses of accounting information.
Explain the three principal types of business activity.
Describe the content and purpose of each of the financial statements.
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Study Objectives
Explain the meaning of assets, liabilities, and stockholders’ equity, and state the basic accounting equation.
Describe the components that supplement the financial statements in an annual report.
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Forms of Business Organization
Sole proprietorship
Partnership
Corporation
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Sole Proprietorship
Business owned by one person
Simple to establish
Owner controlled
Tax advantages
Owner personally liable
Financing difficult
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Partnership
Two or more owners
Simple to establish
Shared control
Broader skills & resources
Tax advantages
Personal liability
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Corporation
Separate legal entity owned by stockholders
Easy to transfer ownership
Greater capital raising potential
Lower legal liability
Unfavorable tax treatment
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Users of Financial Information Internal
Managers who plan, organize and run a business
Marketing managers
Production supervisors
Finance directors
Company officers
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Users of Financial Information Internal Users Ask?
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