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\nFundamental Accounting Concepts\n

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\nsing real world examples, this live-action video introduces the profession of accounting in a dynamic style. The program begins with a brief history of accounting from ancient cuneiform business records to the introduction of the “double...\nsing real world examples, this live-action video introduces the profession of accounting in a dynamic style. The program begins with a brief history of accounting from ancient cuneiform business records to the introduction of the “double entry” accounting methods developed in medieval times, to today’s high tech computer software. Through vignettes and animated graphics, accounting principles will come to life for viewers. Students will come to understand that accounting is a specialized language that helps people understand the financial operations of every kind of business no matter how different. Viewers will follow step by step the establishment of a small business and come to realize that accounting is necessary for the growth and success of any business endeavor. Students will learn the importance of collecting and compiling financial transactions that serve as the foundation for producing important financial reports. Scenarios are introduced to provide students with insights into the way business owners, and financial institutions use accounting records to make important financial and daily managerial decisions that directly impact the business, its owners and employees. Students will learn about GAAP, or Generally Accepted Accounting Principles and how they are used to prepare and standardize financial data such as profit and loss statements, balance sheets and cash flow statements. Objectives • Learn the history of accounting • Understand accounting is the specialized language of business • Realize the importance of compiling and analyzing financial transactions • Learn about Generally Accepted Accounting Principles • Understand the necessity of standardized financial data\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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14:46
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Grade
K - 8th
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Subjects
Career & Technical Education
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Media Type
Instructional Videos
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Source:
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\nMazz Media STEM\n\n
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Date
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2017
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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accounting, balance sheet, assets, cost, business, income, taxes
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Additional Tags

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double entry, operating information, financial accounting information, managerial accounting information., expense, income statement, budget, profit and loss, owner's equity, liabilities, gaap, generally accepted accounting principles, financial statement, check stubs, bank statements, electronic format, historical cost, business entity, step transaction, cost principle, materiality principle, fundamental concepts, entity type, accounting principle, monetary terms, business transaction, business records, principle, transactions, revenues, transaction, records, monetary, prepare, concepts, type
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Classroom Considerations

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Best For: Explaining a topic
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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Fundamental Accounting Concepts\" href=\"/subscription/new\">\"Fundamental\n\n
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