tailieunhanh - Lecture Issues in financial accounting – Lesson 1: Accounting history

In this chapter, the following content will be discussed: Accounting history, context of accounting, and accounting profession; accounting of the corporation is studied in this course; working and issues related to net assets, retained earnings, dividends and earnings per share; | Issues in Financial Accounting Instructor: Ameena Arshad Course Brief Accounting History, Context of Accounting, and Accounting Profession Accounting of the corporation is studied in this course. Working and issues Related to Net Assets retained earnings dividends and earnings per share long-term debt and debt vs. equity financing cash flow and its analysis traditional financial statement analysis cost-volume-profit relationships through break-even analysis, absorption vs. variable costing for control and product pricing decisions gross profit analysis, and demand elasticity effects on total revenues and pricing. Textbooks and Reading Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield Intermediate Accounting (John Wiley & Sons, Inc. 2012) George J. Benston, et Financial Reporting: The Development of Future of Accouting Standards (Oxford University Press) Elliott B and Elliott J Financial Accounting & Reporting (Financial Times/Prentice Hall, 6th ed, 2001). . | Issues in Financial Accounting Instructor: Ameena Arshad Course Brief Accounting History, Context of Accounting, and Accounting Profession Accounting of the corporation is studied in this course. Working and issues Related to Net Assets retained earnings dividends and earnings per share long-term debt and debt vs. equity financing cash flow and its analysis traditional financial statement analysis cost-volume-profit relationships through break-even analysis, absorption vs. variable costing for control and product pricing decisions gross profit analysis, and demand elasticity effects on total revenues and pricing. Textbooks and Reading Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield Intermediate Accounting (John Wiley & Sons, Inc. 2012) George J. Benston, et Financial Reporting: The Development of Future of Accouting Standards (Oxford University Press) Elliott B and Elliott J Financial Accounting & Reporting (Financial Times/Prentice Hall, 6th ed, 2001). Lesson 1: Accounting History “Accounting is the fairest invention of the human mind.” - Goethe Introduction The activity of accounting has been around for several thousand years Much of what we know about the daily lives of ancient peoples comes from accounting records, such as inventories and sales records, found at archeological sites Generally the history of accounting throws light on economic and business history Introduction Some scholars claim that writing arose in order to record accounting information Account records date back to the ancient civilizations of China, Babylonia, Greece, and Egypt The rulers of these civilizations used accounting to keep track of the cost of labour and materials used in building structures like the great pyramids The need for accounting has existed as long as there has been activity involving money or resources Ancient Accounting Key ingredients of double entry bookeeping were not found together Problems of record keeping, control and .