AGENDA
INTRODUCTION TO
ACCOUNTING
Group 1
AGENDA
01
Definition & Purpose
02
Accounting Information System
03
Users of Information & Distinction
Lê Hoàng Minh Nguyễn Thị Thu Hiền Lê Huy An
2112820048 2113820011 2112820002
04
The Accounting Profession
05
Ethics in Accounting
Nguyễn Hồng Hà Nguyễn Thiện Quỳnh Anh
2113820008 2112820010
1 DEFINITION &
PURPOSE OF ACCOUNTING
Keeps a record of business
OUR TEAM
DEFINITION
DEFINITION transactions
Facilitates decision-making
The process of identifying, measuring, for management
and interpreting financial activities
Communicates results
THE LANGUAGE
OF BUSINESS Meets legal requirements
ACCOUNTING INFORMATION
SYSTEM
2
Definition
Being generally a computer-based
01
method
Involving the collection, storage, and
processing of financial and accounting 02
data
Combining traditional accounting practices
with modern information technology 03
resources
Containing various elements important in
04
the accounting cycle
Functions
Recording daily business activities in terms of money
01
Classifying transactions and events into related groups or
02
categories
Classifying transactions and events into related groups or
03
categories
Benefits
Interdepartmental interfacing
01
• Strive to interface across multiple departments
• Share information about a new order so that all
departments are aware of the sale
02 Internal controls
• Place policies and procedures within the system
• Limit users to only the information relevant to their
functions
3
USERS OF INFORMATION
&
DISTINCTION
Users of Accounting Information
Internal users External users
• Include individuals or groups within the organization • Include individuals or entities outside the organization
• Monitor financial performance, set budgets, evaluate • Assess the financial health and stability of a company, make
profitability, and make strategic decisions investment decisions, etc
Accounting
• Is the systematic process of recording, measuring and
communicating information about the financial transaction
taking place in a business
• Provides a clear view of financial statements to its users, which
includes investors, creditors, employees, and government
Distinction between Accounting &
Bookkeeping
Bookkeeping
• Is the process of systematic recording and classification of
financial transactions of an organization
• Maintains an accurate record of all the monetary transactions of a
business
4
THE ACCOUNTING PROFESSION &
THE WORK OF ACCOUNTANTS
COMPARISON
Public accounting Private accounting
Individuals, businesses, and government agencies A single company, government agency, or non-
Clients profit organization
Internal financial reporting, budgeting, and
Services Auditing, tax advice, and consulting
cost management
Offer advancement opportunities within the Within the specific company or industry
Career paths
firm
Work-life balance Challenging Generally better
Government accounting
• Involving financial management procedures for
governmental entities, focusing on budget control, legal
compliance, transparency, and performance
measurement
• Ensuring proper management of public funds,
accountability, and effective governance in the public
sector
5
ETHICS IN
ACCOUNTING
Definition
01 Refer to the principles, values, and standards that
guide the behavior and decision-making of
professionals
02 Are essential to ensure the integrity, transparency,
and reliability of financial reporting and to
maintain public trust
Roles
01 Maintain public interest
02 Maintain independence
Principles 03 Maintain transparency
01 Integrity
02 Objectivity
03 Professional competence & Due care
04 Confidentiality
05 Professional behavior & Responsibility
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