Nature of Financial Accounting: (1) Financial Accounting as a profession: aigoS auwleall A profession is a known career that requires an identified path for the acquisition of specialized and/or formal education or training before rendering any service. 1 gall Mos isl pyrdi 3 row, ol / 9 yi ol puled GLuuSY [Size0 IjLune GLb 839,20 Aigo no CPA's The primary accounting professional association in the U.S. is the American Institute of Certified Public Accountants (AICPA). ouisilill Galea sSyoll agaall od darcall OLVs!l od yasigilall yaswleald Qeipall @baL Il cusoisall The AICPA prepares the uniform CPA Examination, which must be completed in order to become a Certified Public Accountant Vases Wigs Coulee Quad a> AlaS| Lou Silly | CPA ulaiel slacly AICPA psix (2) Financial Accounting asa Language: ols wha na auleoll Language is a means of communication. Jolgill alg xd alll * Accounting is a Language because is a means of communicating business information Spill Sloglae Juogal hig Up aad no aruleall Financial accounting is usually referred to as the language of business @B 2 Financial Accounting as an information system: oleglaa) plbi 42 auleall The acquisition of Key business information that includes income, expenditure, profit , assets and liabilities are made available from financial statement prepared by accounts. bLucd! ye laslicl py sul loll pilgall 9 La,[pbl px aolpl! ansleoll ologleall 2122 Usefulness of financial reporting: raJboJl ail ossld - The objective of general financial reporting is to provide financial information about the entity that is useful to existing and potential investors, lenders and other creditors in making decision relating to providing resources to entity. calacrally Called! wrotranal dno U9 Sill Le Adle lagen 99) 9 alall lal ypdsll yo Sap + SAU ssbgadl 489 Slazall jLAll ssl 9d Gu,SVI Gailalls oaoytally - Those de ns involve decisions about: (a) Buying, selling or holding equity and debt instruments gzall abe Uses gl Sloll yu blaz>VI (b) Providing or settling loan and other forms of credit 155) OLS! SLdls V9 4! Agus gf ours (c) Exercising rights to vote on, or influence, management's actions that affect the use of the entity's economic resources. LOLS @sLaiSVI sylgoI plascul be 588% all 8,bYl lel >| ole poli gl cupaill Spa u,loo