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Chapter 1 Accounting and Business McGraw­Hill/Irwin Copyright © 2011 by The McGraw­Hill Companies, Inc. All rights reserved. What are the Basic Functions of Business? • Marketing Products, pricing, promotion, distribution • Human resources Jobs, people, salaries, benefits • Production and operations Planning, directing, controlling, evaluating • Finance Capital maintenance • Accounting and information systems Information infrastructure 1-2 How do the Functions Use Accounting Information? • Marketing Pricing, distribution costs • Human resources Pay and fringe benefits, hiring costs • Production and operations Production costs—actual and budgeted • Finance Cost of borrowing, benefits expected 1-3 How has Business Evolved? • Sole proprietorship • Merchandising One owner Buy and sell products • Partnership • Service Two or more owners Provide service • Corporation • Manufacturing Many owners Make and sell products 1-4 How has Accounting Evolved? • Determination of wealth What am I worth today • Determination of income How has my wealth changed • On-going success How is the business doing 1-5 ... - tailieumienphi.vn
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