BACHELOR OF COMMERCE Study Guide - Retained Earnings, Accounting, Matching Principle
5 Oct 2022
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Overview: this chapter will mainly be a review for you, as you have covered most of the concepts in acct 100. You should spend your time reviewing the old concepts, and especially studying the new ones. Accounts that pertain to corporations, common stock, retained earnings, dividends. Some accounting principles, or at least their names. Two financial statements - statement of retained earnings and statement of cash. Accounting in business: what you should already know: It is an information and measurement system that identifies, records and communicates relevant, reliable and comparable information about business activities in economic terms. Three major accounting activities are identifying, recording, and communicating. Users of accounting include external users and internal users. You should be able to provide examples of both. Opportunities in accounting are abundant but can generally be categorized into financial, managerial, taxation, and other accounting related jobs. Ethics in accounting have been in the spotlight lately.
