This presentation is used to introduce year 12 students to accounting. It features many word clouds to summarize the basic concepts.

1. Accounting

2. Why does the owner need financial information?

3. Users of Financial information

4. Types of Accountants

6. Characteristics C omparability U nderstandability Relevance R eliability

7. Principles

8. Principles C onsistency H istorical Cost E ntity R eporting Period M ateriality C onservatism G oing Concern

9. Accounting Equation A=L+Oe

11. Learn these terms Assets Liabilites Owners Equity Revenue Expenses

12. Business?

13. A = L+(Oe+Revenue-Expenses)