Introduction to Financial Accounting

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Author:
Subject:
Business and Communication, Career and Technical Education, Mathematics
Provider:
OER Commons
Provider Set:
Open Author Resources
Level:
High School, Community College / Lower Division, Adult Education
Grades:
Grade 9, Grade 10, Grade 11, Grade 12
Language:
English
Material Type:
Activity/Lab, Assessment
Media Format:
Text/HTML
Abstract:
Accounting is the process of identifying, measuring, recording, and communicating an organization’s economic activities to users. Users need information for decision making. With an emphasis on the corporate form of business organization, this lesson will examine how financial transactions are analyzed and then reported using four financial statements: the income statement, statement of changes in equity, balance sheet, and statement of cash flows. This lesson introduces each statement using an example based on a fictitious corporate organization called Big Dog Carworks Corp.

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