Zelvi Rbizqa Prayudasari

9 J B

CU AND ACCCUN1ING
AccounLlng ls lmporLanL for us We all use accounLlng lnformaLlon ln one form or an
oLher We declslon Lo aLLend college lmplles LhaL consldered Lhe beneflL (Lhe ablllLy Lo obLaln a
hlgher paylng or more deslrable [ob) AccounLlng wlll be lmporLanL Lo us even Lhough we may
noL be an accounLanL or a manager
Cb[ect|ve 1
Def|ne account|ng as an |nformat|on system
Account|ng as an Informat|on System
AccounLlng may be deflned as an lnformaLlon sysLem LhaL provldes reporLs Lo
varlous lndlvlduals or groups abouL economlc acLlvlLles of an organlzaLlon or oLher
enLlLy AccounLlng as Lhe language of buslness" because lL ls Lhe means by whlch mosL
buslness lnformaLlon ls communlcaLed
1he process of uslng accounLlng Lo provlde lnformaLlon Lo users ls llrsL
accounLanL musL ldenLfy user groups and Lhelr lnformaLlon needs 1hese needs
deLermlne whlch economlc daLa and acLlvlLles are recorded by Lhe accounLlng sysLem
llnally accounLanLs prepare reporLs LhaL summarlze Lhls lnformaLlon for users
Cb[ect|ve 2
Descr|be the profess|on of account|ng and ||st |ts spec|a||zed f|e|ds
9rofess|on of Account|ng
AccounLanLs are engaged ln elLher
1 rlvaLe AccounLlng
rlvaLe accounLanLs are frequenLly called managemenL accounLanLs
1he lnsLlLuLe of CerLlfled ManagemenL AccounLanLs an afflllaLe of Lhe
lnsLlLuLe of ManagemenL AccounLanL (lMA) sponsors Lhe CerLlfled
ManagemenL AccounLanL (CMA) program 1he CMA cerLlflcaLe ls evldence of
compeLence ln managemenL accounLlng 1o become a CMA requlres a
college degree Lwo years of experlence and succesful compleLlon of a Lwo
day examlnaLlon ConLlnulng proffeslonal educaLlon ls requlred for renewal
of Lhe CMA cerLlflcaLe AccounLanLs who speclallze ln lnLernal audlLlng may
be graLed Lhe CerLlfled lnLernal AudlLor (ClA) cerLlflcaLe
2 ubllc AccounLlng
ln publlc accounLlng an accounLanL may pracLlce as an lndlvldual or as a
member of a publlc accounLlng flrm ubllc accounLanLs who have meL a
sLaLe's educaLlon experlence and examlnaLlons requlremenLs may become
CerLlfled ubllc AccounLanLs (CAs)
1he requlremenLs of obLalnlng a CAs cerlflcaLe dlffer among Lhe varlous
sLaLes All sLaLes requlre a college educaLlon ln accounLlng and mosL sLaLes
now requlre 130 semesLer hours of college credlL ln addlLlon a candldaLe
musL pass a Lwo day examlnaLlon prepared by Lhe Amenrlcan lnsLlLuLed of
CerLlfled ubllc AccounLanLs (AlCA)
MosL sLaLes do noL permlL lndlvlduals Lo pracLlce as CAs unLll Lhey have
had from one Lo Lhree years experlence ln publlc accounLlng
3 rofesslonal LLhlcs for AccounLanLs
LLhlcs are moral prlnclples LhaL gulde Lhe conducL of lndlvlduals ln
some case lndlvlduals may dlffer as Lo whaL ls rlghL or wrong ln a glven
slLuaLlon
Why ls eLhlcal conducL so lmporLanL for accounLanLs? As we
lndlcaLed earller lndlvlduals buslnesses governmenLal agencles And oLher
rely on accounLlng reporLs ln maklng declslons
4 Speclallzed accounLlng flleds
1he Lwo several speclallzed flelds of accounLlng ln pracLlce are flnanclal
accounLlng and managerlal accounLlng CLher flelds lnclude cosL accounLlng
envlronmenLal accounLlng Lax accounLlng sysLems lnLernaLlonal accounLlng
non for proflL accounLlng and soclal accounLlng
llnanclal accounLlng ls prlmarlly concerned wlLh Lhe recordlng and
reporLlng of economlc daLa and acLlvlLles for an enLlLy Managerlal
accounLlng ofLen called managemenL accounLlng uses boLh flnanclal
accounLlng and esLlmaLed daLa Lo ald managemenL ln runnlng day Lo day
operaLlons and ln plannlng fuLure operaLlons
Cb[ect|ve 3
Summar|ze the deve|opment of account|ng pr|nc|p|es and re|ate them to pract|ce
Genera||y Accepted Account|ng 9r|nc|p|es
enerally AccepLed AccounLlng rlnclples (AA) are prlnclples and concepLs
LhaL are used by accounLanLs ln preparlng flnanclals reporLs AA so necessary so LhaL
users of Lhese reporLs can compare Lhe flnanclal condlLlons and operaLlng resulLs across
companles lf Lhe managemenL of a company could record and reporL LransacLlons are
Lhey saw flL Lhen comparablllLy beLween companles would be dlfflculL lf noL lmposlble
AccounLlng prlnclples and concepL develop from researc accepLed accounLlng
pracLlces and pronouncemenLs of auLhorlLaLlve bodles
8USINLSS LN1I1 CCNCL91
1he buslness enLlLy concepL ls based on ldenLlfylng Lhe lndlvldual economlc unlLs
for whlch economlc daLa are needed Cnce an enLlLy ls ldenLlfled Lhe accounLanL can
deLermlned whlch economlc daLa and acLlvlLles should be analyzed recorded and
summarlzed ln reporLs 1he buslness enLlLy could be an lndlvldual a noL for proflL
organlzaLlon such as a cruch or a proflL enLerprlse such as a real esLaLe agency
1nL CCS1 9INCI9L
1he cosL prlnclple deLermlnes Lhe amounL enLered lnLo Lhe accounLlng records
for purchases of properLles and servlces
Cb[ect|ve 4
|st the character|st|cs of a bus|ness transact|on
8us|ness 1ransact|ons
-oL all economlc evenLs affecLlng a buslness enLlLy recorded ln an accounLlng
sysLem Cnly buslness LransacLlons are recorded ln Lhe accounLlng records
A buslness LransacLlon ls an economlc evenL or condlLlon LhaL dlrecLly changes
Lhe enLlLy's flnanclal poslLlon or dlrecLly affecLs lLs resulLs of operaLlons
Cb[ect|ve S
State the account|ng equat|on and def|ne each e|ement of the equat|on
Assets |ab|||t|es and Cwner's Lqu|ty
AsseLs are 1he properLles owned by a buslness 1he rlghLs credlLors represenL
depLs of Lhe buslness are called llablllLles 1he rlghLs of Lhe owners are called owner's
equlLy 1he relaLlons beLween Lhe Lwo
may be sLaLed ln Lhe form of an equaLlon
as follow

Assets |ab|||t|es + Cwner's
Lqu|ty


























Assets |ab|||t|es Cwner's
Lqu|ty