Chapter 1 — Role of Accounting in Society

Chapter 1 Outline

1.0  Why It Matters

LO 1.1  Explain the Importance of Accounting and Distinguish between Financial and Managerial Accounting

LO 1.2  Identify Users of Accounting Information and How They Apply Information

LO 1.3  Describe Typical Accounting Activities and the Role Accountants Play in Identifying, Recording, and Reporting Financial Activities

LO 1.4  Explain Why Accounting Is Important to Business Stakeholders

LO 1.5  Describe the Varied Career Paths Open to Individuals with an Accounting Education

Adapted from Principles of Accounting, Volume 1: Financial Accounting (c) 2010 by Open Stax. The textbook content was produced by Open Stax and is licensed under a Creative Commons BY-NC-SA 4.0 license.Download for free at https://openstax.org/details/books/principles-financial-accounting

 

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Financial Accounting adapted by SPSCC Copyright © 2020 by OpenStax is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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