1 An Introduction to Accounting 1.1 Accounting is an Information System 1.2 Forms of Organization 1.3 The Framework for the Preparation and Presentation ofFinancial Statements 1.4 Understanding of Financial Statements Balance Sheet Income Statement Statement of Owner's Equity Statement of Retained Earnings Cash FlowStatement 1.5 Accounting and its Profession 1.6 Accounting Elements and Using the AccountingEquation What is Accounting Equation? Effects of Transactions on the Accounting Equation 1.7 Ethics in Accounting Some Basic Ethical Standards Demonstration Problem Vocabulary Self-Test Questions Discussion Questions Exercises Problems Mini-Case 2 Recording Transactions 2.1 Economic Events and Business Documents ……