Financial Record Keeping

Do you think the principles of accounting followed by are different?Why?
1 / 20
suivant
Slide 1: Carte mentale
EntrepreneurshipSecondary Education

Cette leçon contient 20 diapositives, avec quiz interactifs et diapositives de texte.

time-iconLa durée de la leçon est: 60 min

Éléments de cette leçon

Do you think the principles of accounting followed by are different?Why?

Slide 1 - Carte mentale

Chapter 20
Section 1:Financial Record Keeping
Pages 462-470

Slide 2 - Diapositive

Objectives
1. Describe the maintenance of records .
2. Compare the terms given
3. Discuss the impact of using different accounting systems

Slide 3 - Diapositive

Accounting
Accounting plays a vital role in the day-to-day activities of every
business. Accounting records and reports encourage efficiency and profitability by keeping track of how much is earned and how much is spent.
If all businesses use the same system of recording and reporting
financial information, anyone interested in examining a business’s records will be able to understand its financial reports.U.S. business follow GAAP system.

Slide 4 - Diapositive

Activity 1:Write the financial records maintained by you or your parents for the expenses of your family.

Slide 5 - Question ouverte

What are the different records maintained by a firm?

Slide 6 - Carte mentale

Why do we need to keep track of our finances early in life?

Slide 7 - Carte mentale

Differences between journal and journalizing

Slide 8 - Diapositive

Activity 2: In pairs compare the difference between journal and journalizing

Slide 9 - Question ouverte

What is the difference between general journal and journal?

Slide 10 - Carte mentale

What is the importance of having a general journal and journalising?

Slide 11 - Question ouverte

What are the 3 things you knew?
What are the 2 things you wish to know?
What is one thing you learnt?

Slide 12 - Carte mentale

Accounting System 
Accounting principles and procedures are universal. All U.S. businesses, large and small, use the same system, which follows established accounting guidelines called “generally accepted accounting principles,” or GAAP.

Slide 13 - Diapositive

Slide 14 - Lien

Activity 3:In Groups:Why do you think the businesses use the same system recording and reporting financial information?

Slide 15 - Question ouverte

In groups:What are the disadvantages of having different accounting systems?

Slide 16 - Carte mentale

Which accounting system is followed by the U.S. businesses?
A
GAAAP
B
GAP
C
AAP
D
GAAP

Slide 17 - Quiz

Which system of accounting is used in Bahrain?Comment on it.

Slide 18 - Carte mentale

How well did you understand the lesson?

Slide 19 - Carte mentale

What are the main points of the lesson?

Slide 20 - Carte mentale