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FUNACCT1 (CH1-2) Venetian (Ledger Postings) Andrea

ENVIRONMENTAL SCANNING - ability to 11/1494 Luca Pacioli Summa de Arithmetica,
transform a need into an opportunity by putting up a Geometria, Proportioni et
business to satisfy this need. Proportionalita
Particularis de Computis et Scripturiz
FINANCIAL STATEMENTS - fulfill stewardship
1913 First PH tax law
function (transparent on the performance and
1923 RA 3105 (Accounting Law)
standing of the business)
1967 RA 5166 (Rev. Accounting Law
1. SFS accounting education and practice of
2. SCE accounting)
3. SCF 2004 RA 9298 (Rev. Accounting Law Pres.
Decre 692)
4. IS
5. Notes
PUBLIC ACCOUNTING - attest a report that is in
Objectives: To provide information on financial
accordance with professional standards
position, financial performance, and cash flows
EXTERNAL AUDITING examine the FS in order
to express an opinion on whether statements have
between businesses and other stakeholders
been fairly presented.
(External or Internal)
TPPS tax planning and preparing tax returns
ACCOUNTING (AAA) process of identifying,
measuring, and communicating economic MANAGEMENT ADVISORY SERVICES - financial
information to permit informed economic judgments planning and control; devt of accounting and
and decisions by users of the information computer systems
ACCOUNTING (AICPA) art of classifying, PRIVATE ACCOUNTING systems of recording
recording, and summarizing in a significant matter business transactions; day to day accounting; devt
and in terms of money, transactions, and events and and interpretation of accounting information
are in part of financial character, and interpreting the
results thereof. FINANCIAL ACCOUNTING preparation of FS
using GAAP
ACCOUNTING (ASC) service with the function to
provide quantitative information, primarily financial in COST ACCOUNTING manufacturing costs;
nature, about economic entities, that is intended to manufacturing operations; inventory costs
be useful in making economic decisions. BUDGETING expenditure and revenues in a
INFORMATION SYSTEM set of interrelated business
components working together to achieve a common ACCOUNTING INFORMATION SYSTEM collects
purpose and processes transactions; dissemination;
FUNCTIONS OF ACCOUNTING IN A BUSINESS designing manual and auto data processing systems

1. Stewardship function TAX ACCOUNTING taxes

2. Help with informed decisions INTERNAL AUDITING reviews business
3. Support daily operations operations; efficiency; management policies
BOOKKEEPING recording of monetary GOVERNMENT ACCOUNTING government
transactions offices
1327 Genoa earliest books displayed ACCOUNTING EDUCATION Memorandum Order
bookkeeping 3 s. 2007
1340 Massari Ledgers of Commune of
Genoa (T-acct and Ledgers) FORENSIC ACCOUNTING; ITS;
1400 Florentine (Journal Entries) Armatino ENVIRONMENTAL ACCOUNTING;