6. a- Accounting: is the art of recording, classifying, reporting, and interpreting the financial data of an organization. b- Accounting: is a social science has its concepts and principles that used in applying the accounting cycle to achieve accounting functions and objectives.

7. Accounting Cycle: consists of the steps involved in handling business transactions completed in an accounting period, starting with analyzing and recording the transactions in a journal and ending with preparing a post – closing trail balance.

8. No entry Is this Accounting transaction Is this Accounting transaction Accumulation and Summarizing (posting &preparing trail balance) Accumulation and Summarizing (posting &preparing trail balance) Preparing Financial statements Preparing Financial statements Recording In a journal Recording In a journal Analysis the transaction Analysis the transaction Business Transaction Business Transaction No Yes

9. -Journalizing: Recording transactions in a Journal. -Posting: From Journal to a ledger. -Summarizing: Trail Balance.

10. المعنىالمصطلحالرقم المحاسبةaccounting1 حسابAccount2 علم المحاسبةAccountancy3 المحاسبAccountant4 المبادى المحاسبيةAccounting Principles5 الدورة المحاسبيةAccounting cycle6 المفاهيم المحاسبيةAccounting concepts7

11. المعنىالمصطلحالرقم تصنيف الحساباتClassification of accounts8 غير محددIndefinite9 الاصولAssets10 الالتزاماتLiabilities11 حقوق الملكيةOwner’s equity12 راس المالCapital13 التصفيةWinding up14

12. Accounting Concepts: refer to the nature of the economic environment in which accounting operates, and these concepts are essential to the understanding of accounting principles, The most significant of these concepts ( assumptions ) are: a The Entity Concept. b- The Going – concern Concept. c- The Unit of measurement Concept. d- The periodicity Concept.

13. This concept conceived every business to be a separate entity and distinct from it’s owner or owners and from every other business. So The entity it has it’s Assets, Liabilities, Expenses and Revenues. In the final you can define the Accounting Entity as any legal or economic unit that has control over resources, accepts responsibilities for making and carring out commitments, and conducts economic activity. Such an accounting entity may be either and individual, a partnership, or a legal corporation, or a consolidated group.

14. This concept means that Accounting entity will continue in operation long enough to carry out the cost of its existing commitments ( the life is indefinite ).

15. This concept means: The purchasing power for monetary unite is being stable, So the unite of measure used in accounting dose not change. In practically this is not accepted in accounting, because there are Inflation, and Recession in Economic.

16. This concept means: The life of a business is divided in to equal periods, such as months, or years. This concept allow for comparison of revenues, expenses, and income earned by the business in one period, with the same in another periods.

17. Principles of Accounting: It’s as a guide in recording and reporting the financial affairs, and activities of a business. This Principles called GAAP ( Generally Accepted Accounting Principles ) (1) Cost Principle (2) Objectivity Principle (3) Realization Principle (4) Matching Principle (5) Principle Of Conservatism (6) Consistency (7) Full Disclosure Principle (8) Materiality Principle

18. 1- Using the accounting procedures from year to year means: (1) Cost Principle (2) Objectivity Principle (3) Matching Principle (4) Consistency Principle.

19. 2-the principle that get expenses be matched with revenues is the: (1) Objectivity Principle (2) Matching Principle (3) Cost Principle (4) Full Disclosure Principle

20. 3- All material information should be disclosed in the financial statements to make these statements clear and understandable for the readers is: (1) Matching Principle (2) Full Disclosure Principle (3) Cost Principle (4) Objectivity Principle

21. 4- Accouting includes: (1) Measurement. (2) Recording. (3) Reporting. (4) All of the above.

22. 1- Name the accounting concepts and explain four of them. 2- Name the accounting Principles and explain four of them. 3- Define The Accounting. 4- Explain The Accounting Cycle. 5- GAAP reduction of:--------------------- 6- Accounting in arabic mean’s:----------

23. The end of Chapter (1) The end of Chapter (1)