LESSON ONE:INTRODUCTION TO ACCOUNTINGAims:· 1. Use accounting vocabulary.· 2. Explain what accounting is.· 3. Describe the financial accounting and managerialaccounting.· 4. Use the accounting equation to describe an organization’s financial position.· 5. Prepare and use the financial statements.· 6. Use the accounting equation to analyze business transactions.· 7. Explain what the accounting elements are.BAIDU· With Internet space booming, Baidu becomes a big and famous company. As we know, baidu offers search and other services. Thanks to baidu, users can get relevant information online much easier through links provided on our website, apps, etc. Internet- based companies like baidu operate in highly competitive markets and face a lot of uncertainties. Every year many new Internet- based companies were founded and some Internet-basedcompanies went bankrupt in the meantime.· If you were an investor who wanted to invest in an internet-based company, how would you know whether baidu or any othercompany is a good choice? What information would you need tohelp you make a decision?You can get accounting information from a company’s financial statements. The financial statements help investors, creditors, and other interested parties better understand a company. In this lesson, you are introduced to the financial statements—balance sheet, income statement, the statement of Changes in Equity and the statement of cash flows.BAIDU· If you were an investor who wanted to invest in an internet-based company, how would you know whether baidu or any othercompany is a good choice? What information would you need to help you make a decision?You can get accounting information from a company’s financial statements....
