Slide AKT102 Pertemuan 1

8/17/2019 Slide AKT102 Pertemuan 1

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Ethics inEthics in

financialfinancial

reportingreporting

Accounting Accounting

standardsstandards

Assumptions Assumptions

What isWhat is

Accounting?Accounting?

What isWhat is

Accounting?Accounting?

The BuildingThe Building

Blocks ofBlocks of

AccountingAccounting

The BuildingThe Building

Blocks ofBlocks of


The BasicThe Basic


EquationEquation

The BasicThe Basic


EquationEquation

Using theUsing theAccountingAccounting

EquationEquation

Using theUsing theAccountingAccounting

EquationEquation

FinancialFinancial

StatementsStatements

FinancialFinancial

StatementsStatements

ThreeThree

activitiesactivities

Who usesWho uses

accountingaccounting

data?data?

Assets Assets

LiabilitiesLiabilities

EquityEquity

TransactionTransaction

analysisanalysis

Summary ofSummary of

transactionstransactions

IncomeIncome

statementstatement

RetainedRetained

earningsearnings

statementstatement

Statement ofStatement of

financialfinancialpositionposition

Statement ofStatement of

cash floscash flos

Accounting in ActionAccounting in Action

Accounting in ActionAccounting in Action


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What is Accounting? What is Accounting?


SO 1 Explain what accounting is.

The !u"!ose of accounting#

!"# to identif$identif$$ "eco"d"eco"d$ and communicatecommunicate the economic

events of an

!%# organi&ation to

!'# interested users(


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Th"ee Acti&ities



The accounting process includes

the boo))eeping function(

'llust"ation 1-1

The activities of theaccounting process

SO 1 Explain what accounting is.


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)anagement

*uman

+esou"cesTa,ing

Autho"ities

a.o"Unions

+egulato"$

Agencies

)a"keting

Finance

'n&esto"s

/"edito"s

SO 2 Identify the users and uses of accounting.

/ustome"s

'nte"nal

Use"s

E,te"nal

Use"s



Who Uses Accounting 0ata


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*ommon +uestions As)ed ,ser "( *an e afford to give our

employees a pay raise?*uman +esou"ces

%( -id the company earn a

satisfactory income?'( Should any product lines be

eliminated?

.( Is cash sufficient to paydividends to shareholders?

/( What price for our product illma0imi&e net income?

What is Accounting? What is Accounting? What is Accounting? What is Accounting?

SO 2 Identify the users and uses of accounting.

1( Will the company be able topay its debts?

'n&esto"s

)anagement

Finance

)a"keting

/"edito"s


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AssetsAssetsAssetsAssets ia.ilitiesia.ilitiesia.ilitiesia.ilities Equit$Equit$Equit$Equit$ 4

2rovides the unde"l$ing f"ame5o"k for recording andsummari&ing economic events(

Applies to all economic entities regardless of si&e(

he !asic Accounting E"uationhe !asic Accounting E"uationhe !asic Accounting E"uationhe !asic Accounting E"uation

SO # State the accounting e"uation$ and define its co%ponents.


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AssetsAssetsAssetsAssets



Resources a business ons(2rovide future services or benefits(

*ash$ Inventory$ Equipment$ etc(

Assets

ia.ilitiesia.ilitiesia.ilitiesia.ilities Equit$Equit$Equit$Equit$ 4



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*laims against assets !debts and obligations#(*reditors 3 party to hom money is oed(

Accounts payable$ 4otes payable$ etc(


ia.ilities

AssetsAssetsAssetsAssets ia.ilitiesia.ilitiesia.ilitiesia.ilities 4

Equit$Equit$Equit$Equit$


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5nership claim on total assets(

Referred to as residual equity(

Share capital and retained earnings(


Equit$

AssetsAssetsAssetsAssets ia.ilitiesia.ilitiesia.ilitiesia.ilities Equit$Equit$Equit$Equit$ 4


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+e&enues result from business activities entered into for the purpose

of earning income(

6enerally results from selling merchandise$ performing services$

renting property$ and lending money(

'llust"ation 1-




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E,!enses are the cost of assets consumed or services used in the

process of earning revenue(

*ommon e0penses are salaries e0pense$ rent e0pense$ utilities

e0pense$ ta0 e0pense$ etc(

'llust"ation 1-




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0i&idends are the distribution of cash or other assets to shareholders(

Reduce retained earnings

4ot an e0pense



'llust"ation 1-


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*lassification

*lassify the folloing items as issuance ofshares$ dividends$ revenues$ or e0penses(

Solution onnotes page

"( Rent e0pense

%( Service revenue

'( -ividends

.( Salaries e0pense



Then indicate hether each item increases or decreases equity(

Effect on Equity

E0pense -ecrease

Revenue Increase

-ividends -ecrease

E0pense -ecrease


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&sing he Accounting E"uation&sing he Accounting E"uation&sing he Accounting E"uation&sing he Accounting E"uation

T"ansactions are a business7s economic events

recorded by accountants(

8ay be e0ternal or internal(

4ot all activities represent transactions(

Each transaction has a dual effect on the accounting

equation(

SO ' Analy(e the effects of )usiness transactions on the accounting e"uation.


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'llust"ation# Are the folloing events recorded in theaccounting records?

E&ent2urchase

computer(

/"ite"ion Is the financial position !assets$ liabilities$ orequity# of the company changed?

-iscuss

product

design ith

customer(

2ay rent(

+eco"d8

0on9t +eco"d


'llust"ation 1-

SO ' Analy(e the effects of )usiness transactions on the accounting e"uation.


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T"ansaction Anal$sis

Slide AKT102 Pertemuan 1

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