1、PowerPoint Authors:#Susan Coomer Galbreath,Ph.D.,CPACharles W.Caldwell,D.B.A.,CMAJon A.Booker,Ph.D.,CPA,CIACynthia J.Rooney,Ph.D.,CPAMcGraw-Hill/IrwinThe Basis for Business DecisionsSixteenth EditionWilliams Haka Bettner CarcelloCopyright 2012 The McGraw-Hill Companies,Inc.PowerPoint Authors:#Susan
2、Coomer Galbreath,Ph.D.,CPACharles W.Caldwell,D.B.A.,CMAJon A.Booker,Ph.D.,CPA,CIACynthia J.Rooney,Ph.D.,CPAMcGraw-Hill/IrwinAccountingInformation for Decision MakingChapter 11-3AccountingInformationThe Accounting ProcessDecision MakersEconomic ActivitiesActions(decisions)Accounting links decision ma
3、kers with economic activities and with the results of their decisions.Reported Results of Actions(decisions)1-4Types of Accounting InformationFinancialManagementTax1-5Accounting SystemsAn accounting system consists of the personnel,procedures,technology,and records used by an organization to develop
4、 accounting information and to communicate this information to decision makers.1-6Information UsersInvestorsCreditors ManagersOwnersCustomersEmployeesRegulators -SEC -IRS -FTCDecisions SupportedPerformance evaluationsStock investmentsTax strategiesLabor relationsResource allocationsLending decisions
5、BorrowingInformation SystemFinancial Information ProvidedProfitabilityFinancial positionCash flows1-7Although much accounting information clearly is essential to business operations,management still has many choices as to the types and amount of accounting information to be developed.Determining Inf
6、ormation Needs1-8Basic Functions of an Accounting System Summarize and communicate information to decision makers.Classify similar transactions into useful reports.Interpret and record business transactions.1-9Components of Internal ControlControl EnvironmentRisk AssessmentControl ActivitiesInformat
7、ion and CommunicationMonitoring1-10External Users of Accounting InformationOwnersCreditorsPotential investorsLabor unionsGovernmental agenciesSuppliersCustomersTrade associationsGeneral public1-11Provide specific information about economic resources,claims to resources,and changes in resources and c
8、laims.Provide information useful in assessing amount,timing and uncertainty of future cash flows.Provide general information useful in making investment and credit decisions.Objectives of External Financial Reporting1-12Objectives of External Financial ReportingThe primary financial statements.Balan
9、ce SheetStatement of Cash FlowsIncome Statement1-13Characteristics of Externally Reported InformationA Means to an EndBroader than Financial StatementsHistorical in NatureResults from Inexact and Approximate MeasuresBased on General-Purpose AssumptionUsefulness Enhanced via Explanation1-14Users of I
10、nternal Accounting InformationBoard of directorsChief executive officer(CEO)Chief financial officer(CFO)Vice presidentsBusiness unit managersPlant managersStore managersLine supervisors1-15Typical Simple Organization ChartPlantAccountantsPlantManagersPlantAccountantsPlantManagersBusiness UnitManager
11、sV.P.Human ResourcesV.P.Information ServicesChief FinancialOfficer(CFO)Chief ExecutiveOfficer(CEO)Board ofDirectorsOwnersV.PEthicsControllerTreasurer1-16Objectives of Management Accounting InformationTo help achieve goals and missionsTo help evaluate and reward decision makers1-17Characteristics of
12、Management Accounting InformationTimelinessIdentify Decision MakerOriented Toward FutureMeasures of Efficiency and EffectivenessA Means to an End1-18Institutional FeaturesGenerally Accepted Accounting Principles(GAAP)Financial Accounting Standards BoardInternational Accounting Standards BoardSecurit
13、ies and Exchange CommissionPublic Company Accounting Oversight BoardAudits of Financial StatementsLegislation1-19Professional OrganizationsAmerican Institute of Certified Public Accountants Institute of Management AccountantsInstitute of Internal AuditorsAmerican Accounting AssociationCommittee of S
14、ponsoring Organizations of the Treadway Commission(COSO)1-20Competence,Judgment and Ethical BehaviorCertified Public Accountant(CPA)Certified Management Accountant(CMA)Certified Internal Auditor(CIA)Ethical behavior is the cornerstone of the accounting profession.1-21Careers in AccountingPublic Acco
15、untingManagement AccountingGovernmental AccountingAccounting Education1-22What About Bookkeeping?#Bookkeeping is the clerical side of accountingthe recording of routine transactions and day-to-day record keeping.Professional accountants are involved more with the interpretation and use of accounting
16、 information than with its actual preparation.1-23Im Not An Accounting MajorAccounting is the language of business,and trying to run a business without understanding accounting information is analogous to trying to play sports without understanding the rules.1-24Ethics,FraudCorporate GovernanceCorporate governance entails corporate structures and processes for overseeing the companys affairs to ensure that the company is being managed with the best interests of shareholders in mind.Dennis Kozlowsk
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