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This presentation is used to introduce year 12 students to accounting. It features many word clouds to summarize the basic concepts.
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Accounting
Why does the owner need financial information?
Users of Financial information
Types of Accountants
Characteristics
C omparabilityU nderstandability R elevanceR eliability
Principles
Principles
C onsistencyH istorical CostE ntityR eporting Period
M aterialityC onservatismG oing Concern
Accounting Equation
A=L+Oe
Learn these terms
• Assets• Liabilites• Owners Equity• Revenue• Expenses
Business?
A = L+(Oe+Revenue-Expenses)