December 2011
Intermediate to advanced
1576 pages
59h 46m
English
Content preview from Financial and Managerial Accounting
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Chapter 1 Accounting in Action
The Navigator is a learning system designed to prompt you to use the learning aids in the chapter and set priorities as you study.
Learning Objectives give you a framework for learning the specific concepts covered in the chapter.
Learning Objectives
After studying this chapter, you should be able to:
- Explain what accounting is.
- Identify the users and uses of accounting.
- Understand why ethics is a fundamental business concept.
- Explain generally accepted accounting principles.
- Explain the monetary unit assumption and the economic entity assumption.
- State the accounting equation, and define its components.
- Analyze the effects of business transactions on the accounting equation.
- Understand the four financial statements and how they are prepared.
Feature Story
Knowing the Numbers
Many students who take this course do not plan to be accountants. If you are in that group, you might be thinking, “If I'm not going to be an accountant, why do I need to know accounting?” In response, consider the quote from Harold Geneen, the former chairman of IT&T: “To be good at your business, you have to know the numbers—cold.”
Success in any business comes back to ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.