[ACCOUNTG 221] - Final Exam Guide - Comprehensive Notes for the exam (33 pages long!)
29 Nov 2016
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Bap meeting tuesday 9/13 at 6:00 pm in isom 112. Why is accounting useful: personal budgeting, money management, language of business, student credit card debt. Who governs accounting: accountants (financial accounting standards board/fasb board) establish measurement and reporting rules that businesses use to facilitate communications (generally accepted accounting principles, sec securities and exchange commission oversee the fasb. Careers in accounting: public accounting (certified public accountant, audit services, tax services, consulting services, private accounting, certified management accountant, certified internal auditor. How do you start a business: what financial resources (money) do you need to establish and operate your business, investors, creditors, banks. Assets resources we use to generate income. 16: liabilities things that we owe, owner"s equity, common stock, revenue, expenses, dividends (distributions, net income. 17: assets resources we use to generate income, accounts: cash, equipment, buildings, land, accounts are reported in the financial statements (see pg.
