Accounting

Why does the owner need financial information?

Users of Financial information

Types of Accountants

Characteristics

C omparabilityU nderstandability R elevanceR eliability

Principles

Principles

C onsistencyH istorical CostE ntityR eporting Period

M aterialityC onservatismG oing Concern

Accounting Equation

A=L+Oe

Learn these terms

• Assets• Liabilites• Owners Equity• Revenue• Expenses

Business?

A = L+(Oe+Revenue-Expenses)