DATE Heelers DEFINITION OF ACCOUNTING —one-OFnt _S Kecovnting is vientd: 0s, fundomentol olives any bucingse or _orgonization: s FunDammat 2 | , 7 the mos important acrwitiec of Wonring, 3 * a budntes | or organization Gives + “dirt chon f I : J Accovnting ica _compenent oF all wcingces and organizator ond they Would got athe Survive or _adhiatd theif goals _wiihout Accoustiwe vn Bsic foals rt THREE wid Fecognize ac definition oF actomnt ng + prom 4 © Accounting, Standord Cov ncil Case) 2 American Accounting Association (aa) o “Hint An—Accor— ° American Institute _of Getined Public AccOontont (aicpn) -ese) _____________—_§ Accontting, 16 A service ockintty ~its “because its not_cety prcduce and _ Phycol concumarble goods Tathey AccOvnTING cerutc pier Pawicularly fnoce DiC ON MAKERS . ____ bi ing LT information to make plans ord eosion¢ tne accounting yonction 1S 40 _promide GoAnriTative —uvtogMmATION geimowily, FINPNCAGL 1N NSMBE 1. cpout ____ FCoNOMI- SNTIMES tow _{¢ inten ae TD,_be Uw -u6equl in Making Ecbwome DECISIDLS Nplate ncpen aeainiiae apna! hich ai6 GAC", commer eet _hounr oF eT ExPencESsGun) Accounting ic oF _Ideatizying « ” —____meaevring, | and _commenicating economic iQpormation te permit informed uegment< and decisfons by Sere op she infovmorion + IDENTIFYING ~_pinst identiey ne digenent neti fronsactons , yecouse CRemEemBEeR Nor, ee TPANC ACTIONS NEED TD Tie RECORDED OF: Booiec OF Tite company: __- , _ MEACLEING. = the recorded deskiry transachion ¢ re then __ MEASURED __ocing Oo Monitony —_onit - : ' COMMUNICATING - proceed to __FIwanciAl. WroRMANEN - nich will Yoon lye commuricaea to Ayrent ocerg . FOr town te _merke Lumomic decisions. *Al cx > Accouning, Ve Ane ort oy _xtlording > 7 clascigywwa,s od Sonmon20d) Wa Be Somacony Manner acd io jextng OF ee / NONE) \ WoNgICHENS Ard vent 7 ne L which Ore WW Qowt_k MeoS*_ OF pe Rngacial character aA _interPretirg | Awe_results pnentoy” y IM [Genoin So ObjCOK ib i Votuag “OF Monies _ A busines hon sackn ~G ite because acounninn veemplets Camco, “va ee E God CREATIVE CUS + : Vou re IS-OF ACTONT YS DEIGNING + PRECEOTING a rinancm. gerrer /TATEMGuT RECORDING ~vecording a tangetions follow on ode) then Ore auronge oy time + _ ‘ CUS IFYING =the recorded trongactions ore _assigieg, ark posteal Sepayattly * Dig¢evenr Toncaction ned to be _chsiptd ov _gyovp * Zz een “fonanereny- all Necesoy. dole. Onc information are ___ommarind antic baat Of Claccgied record OF tvomnsachion ¢ re—___ TNR ComPonsnts OF ____ ___ ACCOUNTING sataeancnpensctepieel eS eee Fear neem : acpeokt har Gnply accomning o¢ pees ard from definition oF accounting — ot American Accounting Association (Aaa “POR ioennring ag tne ANetticAL_ComPonent Wonwsvene os ne Tectwrcal _ Component 7 PW communicarme ow We FORMA __ COMPONENT Or _non-cecagnition of bucinese activities as “accoyniabe " evene - / ooxs - Goneral dowrnale, Special Jounal : LON Fe ued io reording, hansaction¢ : JD PLC OF BUANESE TRANSACTIONS Trossoctions id fhe finoncial \poo! a_buetnese © Pexsonal Bot recorded Note $ because —PEROPR Qoor Arle ueiness 4 CTivinies par _feccouenn dial C Ave _ KCCOUn TABLEAn erent ig Accountaere or Guannixiaeues wahen it hac cin eypecd OM ASerte. Lote eal —_WABIUTIES ond BUI, te ec ection Lae ela Not Accounts ele a ener De luteal hiring op employers , deoth oe Oh ent Presicbend entering inte a _centraot~ Jf AN pucinese actehy : ie __ but not arccopniabhe , became they cannot be quanti, red_ov cuprtsted mH of A unit ct meacure * S The subjtd mater of accounting te economic ivi oy the wv Nomi c aotvity oF measwement of ebhOni rtsourcag and llonomic obligations - o INTER MAL TRANSACTIONS “ees qrencacdon sovolving toe ey only 2 pend vestiean af quocl of the. pucinese > T ae] al lUtor singe _penty ea SERENA “TeAmtacton ¢- f om Tena CHems Pavalving tee erty AN O-prad_e-arnpity, eo pipes af Ye buch wee) \. ekomay Porly javohd in fue shomercin,ite ACCOUNTING PROCESS 5 Vv [ ¥conomic ) COUNT Aecrivin ies { —tsgeringno yp | Reperticl Pecutts of Beton sc andain cyct e Accounting, will away be receined ac long, os bucine Ces ese -MEASO RING . “AMIS Accounting grocess ws Yoe Assignment OF sO _aMounke to WE acconnidle €cone mic. Cousinsse) tron sachons Cinch event“ NAW A4 10Y by rook or CANS - We vee OL EmMares 1g CSKLEAKA 9 providing TOEN GOA TAS —_ EINONGKOL _AAMEMEMNG ave Said to be oO mvt oe 400 aod opinion: INFOT MAKON -7 when mensurement 'S Agecita oy eetimodes , tne items measvrtcl ee Achebe Neel oy! pinion) _ = _wned eoguvement is Unagfected oy catimares . We MEMS Measwrd are sot te pe Volt oyleaer) CoMMUNICATING Yio tne _grocesS oF BeRoVing and Agra, distiioying Accounting (PEAS to potential vsexc OF ACLOUNNOG _ingelMat or - JY We commoniceding process ,. ig Ae easor why accovaring Ww bet _____ = a Wn 0 1. Yh Follewing «a. Becording or jourrali2ing “ig 4nr protest OF suste matically MAMA. Qing “A secorch__or oll economia business svonsactions Oxter Hey have ren “identixiecl anal Neacured - b- Clasciruing is We sorting or arpvping Oe _einilow Grd interrelated economic transaction ino therr regpechve classes” Cogizjiog is cecomplighecl by posting to we edge. We Kdaw % A group OF gecovnts which ore systematically Caigonzeck ito asgedg accounts lierpilitty AclOvnrs , enuity accovot S vevenye onc _eé¢pemee —_ ACC@unt ys * > umm an zinn Ig We pepovortion og Fidancia) Siotements the Sortement of franca! __fostion , income Statement , stotement oF Compre Nengi ve income » Slatemenk oF changes in couity anA — sttement oj zach__Flev’S-