ACCT 2001 Chapter : Acct Ch1
Document Summary
Accounting: the information system that identifies, records, and communicates the economic events of an organization to interested users, users are, internal users, finance, marketing, management, human resources, external users, taxing authorities, labor unions, customers, creditors, regulatory agencies, investors. Ethics in financial reporting: united states regulators and lawmakers were very convened that the economy would suffer in investors lost confidence in corporate accounting because of unethical financial reporting, financial scandals. Enron : congress passes sarbanes-oxley act of 2002, effective financial reporting depends on south ethical behavior. Business activities: all businesses are involved in 3 types of activity, financing, investing, operating, the accounting information system keeps track of the results of each of these business activities. 62,000: given the following info, what would be shown as the total for the property, plant and equipment section on a classified balance sheet? (hint: non current, equipment - accounts depreation, 3. Chapter 3: tiger company provided consulting services on account for a client.
