The Source of Accounting Information - Accounting Profession Acronyms Defined - Accounting & Audit - Каталог файлов - Chair of Accounting & Auditing. UIB

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Главная » Файлы » Accounting & Audit » Accounting Profession Acronyms Defined

The Source of Accounting Information
[ ] 03.04.2010, 17:39
FINANCING ACTIVITIES

Objectives

Once you have completed this chapter, you should be able to:

1   Identify financing activities and explain why they are important to a business.

2  Demonstrate how accounting measures and records business activities.

3  Identify investing activities and explain why they are important to a business.

       4 Identify operating activities and explain how they create profits for a company. Describe how financial reports summarize business activities and provide information for business decisions.

A business is an organization that exists for the purpose of making a profit for its owners. A business creates a profit if it can sell goods and services to customers at prices that are greater than the total costs incurred to provide those goods and services. To be successful, a business must be effective in meeting the needs of customers by providing goods and services demanded by customers at prices they are willing to pay. Also, a busi­ness must be efficient in controlling costs so that the prices charged to customers exceed the costs to the company of acquiring and selling its products. If a company is success­ful, it creates value for its owners as well as for other stakeholders. Profit is a measure of the value created by a business for its owners.


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