Introduction to Accounting System

What is NOT accounting?

• Identify

• Record

• Communicate

• Streaming

Who is Internal Users for Accounting Data?

• LHDN

• Finance

• Creditors

• Public

"Did the company earn a satisfactory income?"

Who's say this?

• Human resource

• Management

• Investors

• Finance

Accrual-basis accounting is...

• Revenues are recognized when earned, rather than when cash is received.

• Expenses are recognized when cash is paid.

What is GAAP?

• Geng Anak-anak Pandai

• Generally Accepted Accounting Principles

• Generally Accounting Accepted Principles

• Geng Anak-anak Pandan