Introduces the principles, preparation, uses and limitations of the financial statements of business entities. Discusses the need for financial information in decision making and the collection and processing of the information through the accounting system. Covers major assets, liabilities, and owners' equity, emphasis on the particular variation and profit measurement problems associated with individual accounts. Presents material on the interpretation of financial statements and a brief overview of income taxation.
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Introduces the principles, preparation, uses and limitations of the financial statements of business entities. Discusses the need for financial information in decision making and the collection and processing of the information through the accounting system. Covers major assets, liabilities, and owners' equity, emphasis on the particular variation and profit measurement problems associated with individual accounts. Presents material on the interpretation of financial statements and a brief overview of income taxation.
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