Wall Street Prep
Wall
Accounting
Street Prep
Wall
Crash
Accounting
Street
Course
Prep
Crash
Study
Accounting
Course
Guide Income
Crash
Study Course
Guide
Statement
Income
Study
Balance
Guide
Statement
Sheet
Income
Balance
Cash
Statement
Flow
Sheet
and
Balance
Cash
ExamFlow
Sheet
Questions.pdf
andCash
ExamFlow
Questions.pdf
and Exam Questions.pdf
Wall Street Prep
Accounting Crash
Course Study
Guide Income
Statement Balance
Sheet Cash Flow
and Exam
Questions
Wall Street Prep
Wall
Accounting
Street Prep
Wall
Crash
Accounting
Street
Course
Prep
Crash
Study
Accounting
Course
Guide Income
Crash
Study Course
Guide
Statement
Income
Study
Balance
Guide
Statement
Sheet
Income
Balance
Cash
Statement
Flow
Sheet
and
Balance
Cash
ExamFlow
Sheet
Questions.pdf
andCash
ExamFlow
Questions.pdf
and Exam Questions.pdf
,Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
Terms in this set (222)
What is Accounting? Accounting is the language of business; it is a standard set of rules for
measuring a company's financial performance.
Assessing a company's financial performance is important for:
The firm's officers (managers and employees)
Investors
Lenders
General public
Standard financial statements serve as a "yardstick" of communicating
financial performance to the general public.
Why is Accounting Important? Enables managers to make corporate decisions
Enables the general public to make investment decisions
Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
,Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
Who Uses Accounting? Used by a variety of organizations - from the federal government to non-
profit organizations to small businesses to corporations
We will discuss accounting rules as they pertain to publicly-traded
companies
Accounting Regulations Accounting attempts to standardize financial information and follows rules
and regulations
These rules are called Generally Accepted Accounting Principles (GAAP)
In the US, the Securities and Exchange Commision (SEC) authorizes the
Financial Accounting Standards Board (FASB) to determine accounting
rules
GAAP comes from the Statements of Financial Accounting Standards
(SFAS) issued by the FASB
Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
, Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
An Overview of the SEC A US federal agency established by the US Congress in 1934
Primary mission is "to protect investors and maintain the integrity of the
securities markets"
Division of Corporate Finance oversees FASB
An Overview of FASB Established in 1973 as an independent body to carry out the function of
codifying accounting standards on the behalf of the SEC
Composed of seven full-time members appointed for five years by the
Financial Account Foundation (FAF)
Decisions are influenced by:
Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
Wall
Accounting
Street Prep
Wall
Crash
Accounting
Street
Course
Prep
Crash
Study
Accounting
Course
Guide Income
Crash
Study Course
Guide
Statement
Income
Study
Balance
Guide
Statement
Sheet
Income
Balance
Cash
Statement
Flow
Sheet
and
Balance
Cash
ExamFlow
Sheet
Questions.pdf
andCash
ExamFlow
Questions.pdf
and Exam Questions.pdf
Wall Street Prep
Accounting Crash
Course Study
Guide Income
Statement Balance
Sheet Cash Flow
and Exam
Questions
Wall Street Prep
Wall
Accounting
Street Prep
Wall
Crash
Accounting
Street
Course
Prep
Crash
Study
Accounting
Course
Guide Income
Crash
Study Course
Guide
Statement
Income
Study
Balance
Guide
Statement
Sheet
Income
Balance
Cash
Statement
Flow
Sheet
and
Balance
Cash
ExamFlow
Sheet
Questions.pdf
andCash
ExamFlow
Questions.pdf
and Exam Questions.pdf
,Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
Terms in this set (222)
What is Accounting? Accounting is the language of business; it is a standard set of rules for
measuring a company's financial performance.
Assessing a company's financial performance is important for:
The firm's officers (managers and employees)
Investors
Lenders
General public
Standard financial statements serve as a "yardstick" of communicating
financial performance to the general public.
Why is Accounting Important? Enables managers to make corporate decisions
Enables the general public to make investment decisions
Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
,Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
Who Uses Accounting? Used by a variety of organizations - from the federal government to non-
profit organizations to small businesses to corporations
We will discuss accounting rules as they pertain to publicly-traded
companies
Accounting Regulations Accounting attempts to standardize financial information and follows rules
and regulations
These rules are called Generally Accepted Accounting Principles (GAAP)
In the US, the Securities and Exchange Commision (SEC) authorizes the
Financial Accounting Standards Board (FASB) to determine accounting
rules
GAAP comes from the Statements of Financial Accounting Standards
(SFAS) issued by the FASB
Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
, Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
An Overview of the SEC A US federal agency established by the US Congress in 1934
Primary mission is "to protect investors and maintain the integrity of the
securities markets"
Division of Corporate Finance oversees FASB
An Overview of FASB Established in 1973 as an independent body to carry out the function of
codifying accounting standards on the behalf of the SEC
Composed of seven full-time members appointed for five years by the
Financial Account Foundation (FAF)
Decisions are influenced by:
Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf Wall Street Prep_ Accounting Crash Course.pdf
