Lesson 1 - Introduction to Accounting

Open Ended

Why is accounting called the "language of business"?

Open Ended

How does it help different users?

Categorize

Options (20)

The IRS reviews a company's financial records

A bank decides whether to approve a loan

A business owner checks to see if the company is profitable

A potential shareholder wants to see if the business is growing

City regulators require annual reports from companies

A manager uses accounting data to plan next year's budget

A business owner analyzes sales trends to improve marketing strategies

A manager conducts performance reviews to assess employee productivity

A business owner develops a strategic plan for expansion

An investor evaluates the company's market position before investing

A venture capitalist analyzes the startup's business model

An angel investor meets with the founders to discuss growth potential

A shareholder reviews quarterly earnings reports to assess performance

A bank assesses a company's creditworthiness before granting a loan

A lender reviews financial statements to determine loan terms

A financial institution evaluates collateral for a loan application

A bank monitors loan repayments to ensure compliance with terms

The government conducts audits to ensure compliance with tax laws

Regulatory agencies monitor businesses for environmental compliance

The government provides grants to support small business development

Who Uses Accounting?

Owner/Manager

Investor

Creditor/Bank

Government