Introduction to Accounting

Though there's already a suggested outline for the Introduction to Accounting as enumerated in the revised syllabus issued thru CMO3 S2007, still, I regrouped the topics according to similar concepts and subjects.

To read,  click the topics / subjects and you will be redirected to the researched lectures and notes accordingly.

INTRODUCTION TO ACCOUNTING 


Part 1 – Basic Concepts  

•   Definition of Accounting 
• Nature of Accounting 
• Functions of Accounting
• Scope of Accounting
• Objectives and Purpose of Accounting
•  History of Accounting
• Accounting variations among countries

Part 2 – The Accounting Profession

•   The classical notion of stewardship
•   Specialized accounting fields and Branches of Accounting
• What awaits the accounting profession: career opportunities
• Basic Professional Values and Ethics
•   Philippine Accountancy Act of 2004
•  Philippine Regulatory Authority
• The Financial Reporting Standards Council (FRSC)
• Professional Organizations of CPAs

Part 3 – Business organizations and their activities, and users of Accounting Information

• Forms of business organization 
• Business Activities 
• Users of accounting information 

Part 4 – Basic Financial Accounting Concepts 

•   Basic accounting concepts and principles

• The Basic Financial Statements (FS) 

• Objective of Financial Statements  

• Elements of Financial Statements and their definition 

• Recognition and Measurement of FS elements

• Basic Accounting Assumptions  

• Qualitative Characteristics  

• Constraints

•   Relationships among the Financial Statements
• Overview of (Financial) Accounting Processes and Accounting Cycle
• Introduction to Record-Keeping or Bookkeeping

• Financial Accounting and Bookkeeping

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