Introduction to Accounting Preparing for a User’s Perspective Introduction to Accounting Preparing for a User’s Perspective Free Jan

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Introduction to Accounting Preparing for a User’s Perspective Introduction to Accounting Preparing for a User’s Perspective Free Jan

Introduction to Accounting Preparing for a User’s Perspective Introduction to Accounting Preparing for a User’s Perspective Free Jan

Introduction to Accounting Preparing for a User’s Perspective Introduction to Accounting Preparing for a User’s Perspective Free Jan

Introduction to Accounting Preparing for a User’s Perspective Introduction to Accounting Preparing for a User’s Perspective Free Jan

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

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Introduction to Accounting Preparing for a User’s Perspective

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Introduction to Accounting Preparing for a User’s Perspective

Introduction to Accounting Preparing for a User’s Perspective

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Presentation transcript:

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 key financial transaction cycles found in most businesses and how does accounting facilitate them? Available on the Google Play Store with support from By Kevin C. Kimball, CPA Debits and Credits Trainer

Plan Direct Control Improve Decide Objectives Managers Organization Output Process Input Accounting Information System Identify & Analyze Summarize Record Report

Managerial Financial Accounting Managerial Accounting Internal External

Receive = Input Give = Output

Personnel and Payroll Personnel and Payroll Inventory and Warehousing Inventory and Warehousing Purchases and Payments Purchases and Payments Cash Capital Acquisition and Repayment Sales and Cash Receipts Key Financial Transaction Cycles Cash is not a cycle, it’s a resource,

CFO Inflows Outflows

Personnel and Payroll Personnel and Payroll Inventory and Warehousing Inventory and Warehousing Purchases and Payments Purchases and Payments Cash Capital Acquisition and Repayment Sales and Cash Receipts Key Financial Transaction Cycles

Sales and Cash Receipts Input (sales info.) Process (record & summarize sales) Output (sales report) SALES

Purchases and Payments Cycle Source: Chartered Institute of Purchasing & Supply $30 per unit.

Personnel and Payroll Personnel and Payroll Inventory and Warehousing Inventory and Warehousing Cash Key Financial Transaction Cycles Purchases and Payments Purchases and Payments Sales and Cash Receipts Warehouse

Personnel and Payroll Personnel and Payroll Inventory and Warehousing Inventory and Warehousing Cash Name Address Social Security Number Hours and dates worked Work location Projects worked on etc.

Cash Sales and Cash Receipts Sales

Cash Sales and Cash Receipts Cash Receipts Accounts Receivable Cash

Sales and Cash Receipts OK. We’ll give your money back.

Cash Sales and Cash Receipts Oops! I spent all my money. Time to pay up.

Cash Capital Acquisition and Repayment External Principle + Interest Capital Dividends

AIS track

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 key financial transaction cycles found in most businesses and how does accounting facilitate them? Available on the Google Play Store with support from By Kevin C. Kimball, CPA Debits and Credits Trainer