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Financial Accounting by R. Lalitha, V. Rajasekaran

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Chapter 1

Accounting as an Information System

LEARNING OBJECTIVES

After studying this chapter, you will be able to understand

  1. Meaning and Definition of Accounting

  2. Characteristic Features of Accounting

  3. Concept of Accounting as an Information System

  4. Characteristic Features of Accounting System

  5. Users of Financial Accounting Information

  6. Branches of Accounting

  7. Distinction Between Financial Accounting and Management Accounting

  8. Objectives of Financial Accounting

  9. Meaning of General Purpose Statements

  10. Qualitative Characteristics of Accounting Information (or) Financial Statements

  11. Functions of Accounting

  12. Advantages of Accounting

  13. Limitations of Accounting

  14. Bases of Accounting

  15. Distinction Between Accrual Basis of Accounting and Cash Basis of Accounting ...

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