Chapter 1 - An introduction to accounting. Why should you study accounting? You should study accounting because it can help you succeed in business. Imagine playing football or monopoly without knowing how to keep score. In business, accounting is how you keep score. If you do not know the rules of the game, you will be severely disadvantaged. In this chapter, we will provide a look at accounting as an information system that reports on the economic activities and financial condition of a business or other organization.
Accounting knowledge is a core business skill that both
complements and enhances your other talents. Individuals
promoted to management or supervisory roles from either line
or staff jobs find that many of their new responsibilities involve
knowing something about accounting. Congratulations on your
promotion! You’ve come to the right place to start developing
those accounting skills. If you haven’t had a recent promotion,
more congratulations are in order. You are taking steps to gain
the skills that will lead to promotion in the near future....
A&E can mean either Appropriation & Expense or Analysis & Evaluation. : Có thể được hiểu là Riêng biệt và Chi phí hoặc Phân tích và Ước lượng A&G is Adminstrative & General. : Quản trị và Tổng quát A&M is Additions and Maintenance. :Thêm vào và Bảo trì A&P is an acronym for Administrative and Personnel.
Accounting & Financial Statement Analysis. Accounting is used by a variety of organizations, from the federal government to
nonprofit organizations to small businesses to corporations. We will be
discussing accounting rules as they pertain to publicly traded companies.
What you should not do is perform a ‘ticking’ exercise. By this we mean that you should not
simply compare the question with the answer and tick off the bits of the answer against the relevant
part of the question. No one ever learnt to do accounting properly that way. It is tempting to
save time in so doing but, believe us, you will regret it eventually. We have deliberately had the
answers printed using a different page layout to try to stop you indulging in a ‘ticking’ exercise.
Above all, remember that accounting is a vehicle for providing financial information in a form
that assists decision-making. Work hard at presenting your work as neatly as possible and
remember that pictures (in this case, financial figures) only carry half the message. When you
are asked for them, words of explanation and insight are essential in order to make an examiner
appreciate what you know and that you actually understand what the figures mean.
The book is designed to give students both a conceptual understanding and
a practical use of internal accounting information. The structure and sequence
of topics in the book were carefully planned to serve as a basis for developing
The aim of this text is to explain the meaning and use of
the principal accountancy statements,models and activities
in business life.
The word ‘statements’ includes balance sheets, profit and
loss accounts, cash flow statements and budget reports.
The word ‘models’is used to mean the exercises of costing,
cash flow forecasting, capital expenditure appraising and
other modelling which is essential for sound business
The word ‘activities’covers the topics of accounting systems
and controls, record keeping (book keeping) and the
operation of the budget process.
At this point, you have heard of social media and inbound marketing. Maybe you‟ve experimented with Twitter and checked out your kids‟ Facebook profiles, and you can see the value for college students who want to make sure they‟re all at the same bar on Saturday night. But why does any of this matter to you or your business?
To help reinforce the knowledge you have learned and become familiar with exam format in English, you are invited to refer to paper F1 "Accountant in business - Revision kit 2016" below. Hopefully content helps document you achieve good results in exams soon.
Chapter 4 - Accounting for merchandising businesses. Previous chapters have discussed accounting for service businesses. These businesses obtain revenue by providing some kind of service. This chapter introduces accounting practices for merchandising businesses.
I have written to you several times over the past three
months requesting an explanation on why you have failed
to bring your account with us current. Be aware that some of these sample letters have legal, financial, or other implications. If you are not sure about the use of any letter, consult with an appropriate professional first.
administrative expenses, being treated as period costs.
ABSORPTION VARIANCE is the variance from budgeted absorption costing of manufactured product. See also ABSORPTION COSTING.
ACAT (Accreditation Council for Accountancy and Taxation) is a national organization established in 1973 as a non-profit independent testing, accrediting and monitoring organization. The Council seeks to identify professionals in independent practice who specialize in providing financial, accounting and taxation services to individuals and small to mid-size businesses.
(Accredited Business Accountant or Accredited Business Advisor), in the US, is a national credential conferred by Accreditation Council for Accountancy and Taxation to professionals who specialize in supporting the financial needs of individuals and small to medium sized businesses. ABA is the only nationally recognized alternative to the CPA. Most accredited individuals do not perform audits. Generally, they are small business owners themselves.
English for Accounting is part of the Express Series. It is an ideal course for students in employment, who want to communicate better in English.
This short, intensive course can be completed in 25-30 hours, so students make progress quickly.
English for Accounting can be used as a stand-alone course, for self-study using the interactive MultiROM, or alongside a coursebook such as International Express.
Specialist dictionaries: Dictionary of Accounting Dictionary of Banking and Finance Dictionary of Computing Dictionary of Economics Dictionary of Environment and Ecology Dictionary of Human Resources and Personnel Management Dictionary of ICT Dictionary of Law Dictionary of Leisure, Travel and Tourism Dictionary of Marketing Dictionary of Medical Terms Dictionary of Nursing Dictionary of Science and Technology
Jane Johnson is considering selling T-shirts in the parking lot during her university’s
football games. Jane, of course, will do this only if she expects to make a profit. To es-
timate her profits, Jane needs certain pieces of information, such as the cost of a shirt,
the university’s charge for the right to conduct business on its property, the expected
selling price, and the expected sales volume. Suppose Jane has developed the follow-
Do you know what Accounting Noise is? How about Illiquid? Bricks and Clicks? Any idea what GAAP, LBO, RFP, or SOW stand for? Let's face it: You can't survive the corporate jungle today unless you speak the language.
It's time to learn!
AccountingCoach.com is designed to help people without an accounting background easily understand accounting concepts at no cost.
By investing thousands of hours, we have created clear and concise accounting information for both business people and students of all ages.
We understand how difficult accounting can be. That's why we have ensured that each accounting topic includes a clear explanation, reinforcing drills, Q&A, puzzles, dictionary of terms, etc.
Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is reliable. The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, bookkeeping, and auditing....