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

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

3. Managerial Financial Accounting Managerial Accounting Internal External

4. Receive = Input Give = Output

5. 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,

6. CFO Inflows Outflows

7. 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

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

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

10. 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

11. 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.

12. Cash Sales and Cash Receipts Sales

13. Cash Sales and Cash Receipts Cash Receipts Accounts Receivable Cash

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

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

16. Cash Capital Acquisition and Repayment External Principle + Interest Capital Dividends

17. AIS track

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