Introduction to Accounting Preparing for a User’s Perspective Introduction to Accounting Preparing for a User’s Perspective www.canvas.net Free Jan. 2014.

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Introduction to Accounting Preparing for a User’s Perspective Introduction to Accounting Preparing for a User’s Perspective Free Jan Free Jan What are the two general types of accounting and which one of them has developed a conceptual framework? Available on the Google Play Store with support from By Kevin C. Kimball, CPA Debits and Credits Trainer

What are the two general types of accounting and which one of them has developed a conceptual framework? Financial Accounting Managerial Accounting  Follow GAAP  Use Conceptual Framework - Internal - External Should I share? Profits How can I get some of that?

Debt ratio? Return on equity? Financial Accounting

General Purpose Financial Statements Footnote disclosures

Dividends GM? Let me study its financials first.

Can I buy now? And pay later? A $1 B loan?! Show me your financial statements. A $1 B loan?! Show me your financial statements.

Corporate Accounting Data

Give us something!!! IASB INTERNATIONAL ACCOUNTING STANDARDS BOARD FASB FINANCIAL ACCOUNTING STANDARDS BOARD

Sole Proprietorship If you want a loan, prepare your financials per US GAAP.

We want to know: __________ SEC rules and regulations

You both need to follow our rules. OR

Accounting performed Reports generated CEO marketing manager, warehouse supervisor, chief product engineer, director of human resources, and many other executives, managers, and employees

NO!!!!!!!!

Executive Dashboard Gross margin Sales Customer satisfaction Late deliveries per 1,000 units shipped Price variances Price per metric ton of copper Quantity variances Cash burn rate Uh Oh! It looks like we have a mountain ahead. Dashboard examples: inetsoft The Dashboard Spy

Number of surfboards to sell to break-even? Make or buy? Pay $1.2 M for a Super Bowl ad? Units to sell? % customers satisfied? Product mix?

% customers satisfied?

Conceptual Framework

Poof! What do you need? Give me a hasenpfeffer production report

Benefits Costs

You must create XYZ report for internal use. Is that right? Says who?

Introduction to Accounting Preparing for a User’s Perspective Introduction to Accounting Preparing for a User’s Perspective Free Jan Free Jan Available on the Google Play Store with support from By Kevin C. Kimball, CPA Debits and Credits Trainer What are the two general types of accounting and which one of them has developed a conceptual framework?