Chapter 1 General View of Accounting（课件）-《实用会计英语》同步教学（大连理工大学出版社）

General View of Accounting CHAPTER 1 1-1 2 2 Introduction of accounting * Second oldest profession * Participated in the development of nations, trade, finance, money and banking * Double-entry bookkeeping fueled the Renaissance 1-1 Introduction of accounting Luca Pacioli (1445-1517) Summa di Arithmetica treatise on book-keeping People have understood accounting on a scientific principle in Italy 1-1 Introduction of accounting John Gouge, 1543 The first known English book on accounting A Profitable Treatyce called the Instrument or Boke to learn to know the good order of the kepying of the famouse reconynge, called in Latyn, Dare and Habdare, and, in Englysh Debitor and Creditor. 1-1 Introduction of accounting The first public recognition of accountants A Bankruptcy Act In 1831 It mentions accountants alongside merchants and bankers as properly skilled to conduct audits. 1-1 Introduction of accounting Management accounting World War One (1914-1918) Accountants assist in the control of costs in relation to the production of ammunitions: bullets, bombs, explosives, etc. 1-1 Introduction of accounting After the Second World War Development of accounting Enron financial scandal In August 2002, the Sarbanes-Oxley Act is passed in the United States. 1-1 Accounting Definition Accounting ≠ Bookkeeping It is the means of recording transactions and keeping records. Accounting Bookkeeping Bookkeeping is the day-to-day record-keeping involved in the process of accounting. 1-1 Accounting Definition Accounting Accurate financial reports Useful to managers, regulators, and shareholders, creditors or owners 1-1 Accounting Definition Major goal of accounting Analysis Interpretation Use of information 1-1 Accounting Definition The American Institute of Certified Public Accountants “The art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and ev