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Accounting Module 2011

Women of Courage. Accounting Module 2011. What is accounting. Accounting is the process of identifying, measuring and communication the financial information about the business so good decisions can be made. People who use accounting information are: Owners Stockholders Suppliers

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Accounting Module 2011

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  1. Women of Courage Accounting Module 2011

  2. What is accounting • Accounting is the process of identifying, measuring and communication the financial information about the business so good decisions can be made. • People who use accounting information are: • Owners • Stockholders • Suppliers • Customers • Bankers • Government • Accountants make sure the financial information is accurate and provided to users in a timely and organized manner • The primary accounting reports are: • Income Statement • Balance Sheet

  3. Financial Reporting - Profit • Net Income = Revenue – Expenses • Revenues are what is received from customers for the good or service provided • Selling price x quantity sold • Expenses: • Cost of goods sold (To make the product) • Operating expenses (To run the business as a whole)

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