School of Business
Department of Accounting
BACC200- Financial Accounting
Chapter 1 | Part 1
Accounting in Action
,Objective:
• Identify the activities and users associated with accounting.
• State the accounting equation, and define its components.
• Describe the four financial statements and how they are prepared.
• Analyze the effects of business transactions on the accounting
equation.
, LEARNING Identify the activities and users
1
OBJECTIVE associated with accounting.
Accounting consists of three basic activities
Identifying
Recording
Communicating
the economic events of an organization to interested users.
LO 1
Department of Accounting
BACC200- Financial Accounting
Chapter 1 | Part 1
Accounting in Action
,Objective:
• Identify the activities and users associated with accounting.
• State the accounting equation, and define its components.
• Describe the four financial statements and how they are prepared.
• Analyze the effects of business transactions on the accounting
equation.
, LEARNING Identify the activities and users
1
OBJECTIVE associated with accounting.
Accounting consists of three basic activities
Identifying
Recording
Communicating
the economic events of an organization to interested users.
LO 1
