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c h a p t e r
1
OVERVIEW OF CORPORATE
FINANCIAL REPORTING
CHAPTER OVERVIEW
Accounting is an information system in which the underlying economic
events affecting an organization are recorded, summarized, and reported to
users who have an interest in the organization.
This opening chapter provides an overview of the types of activities business
firms engage in and the contents of an annual report on the results of these
activities. The typical activities of a firm are:
o Operating activities
o Investing activities
o Financing activities
An annual report normally contains the following:
o Corporate Profile
o Report to the Shareholders
o Management’s Discussion and Analysis
o Statement of Management Responsibility
o Independent Auditor’s Report
o Financial Statements
o Notes to the Financial Statements
o Segmented Information
o Board of Directors and Management
This chapter identifies the various users of a firm’s annual report and identifies
the professional bodies involved in developing the standards on which the
financial statements are prepared. This chapter discusses the qualitative
characteristics of accounting information. Finally, this chapter discusses the
role of ethics in financial accounting.
Financial Accounting Study Guide Chapter One.pdf
(3.75 MB, 需要: 1 个论坛币)
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