made by. 대학생 A

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Chapter 1. Accounting in Action

L1. Identify the activities and users associated with accounting

Accounting Activities

• Identification (인식)

• Recording (기록)

• Communicating (의사소통)

Financial Information User Groups

• Internal Users (내부 이용자) : Managers who plan, organize, and run the business

  Ex. Marketing, production, finance managers, etc.

• External Users (외부 이용자) : Users outside of the organization

  Ex. Investors (투자자: 주식 보유) and Creditors (채권자) + Taxing authorities, Regulatory agencies, Labor unions, etc.

Accounting that provides info. to interncal users called management accounting (관리회계) and accounting that provides info. to external users called financial accounting (재무회계). In this summer semester, we’ll learn financial accounting - How to provide financial information to external users.

Data Analytics

Data Analytics involves analyzing data, often employing both software and statistics, to draw inferences.

L2. Explain the building blocks of accounting : ehics, principles, and assumptions

Ethics in Financial Reporting

1. Recognize an ethical situation and the ethical issues involved.
2. Identify and analyze the principal elements in the situation.
3. Identify the alternatives, and weigh the impact of each alternative on various stakeholders.