Basic Accounting & Financial Terminology

Program Objectives (1 of 2) Understand basic accounting and financial terminology. Learn how double entry accounting works. Explore the world of accounting cycle , accounts, assets, equity, receivables, accounts payable, liabilities and ledgers. www.readysetpresent.com Page

Understand basic accounting and financial terminology.

Learn how double entry accounting works.

Explore the world of accounting cycle , accounts, assets, equity, receivables, accounts payable, liabilities and ledgers.

Program Objectives (2 of 2) Discover which accounting system works best for you. Explore how computerized accounting works and it’s benefits. Understand financial statements, income statements, statements of owner’s equity, balance sheets and cash flows. www.readysetpresent.com Page

Discover which accounting system works best for you.

Explore how computerized accounting works and it’s benefits.

Understand financial statements, income statements, statements of owner’s equity, balance sheets and cash flows.

A Challenge Please Write a One Sentence Definition of BASIC ACCOUNTING & FINANCIAL TERMINOLOGY. www.readysetpresent.com Page

Please Write a One Sentence Definition of

BASIC ACCOUNTING

&

FINANCIAL TERMINOLOGY.

Definition In plain words, Accounting provides you with information that will help you in operating business, make right decisions; it is the means by which business information is communicated. Accounting reports or Financial statements are products of accounting. Page www.readysetpresent.com

In plain words, Accounting provides you with information that will help you in operating business, make right decisions; it is the means by which business information is communicated.

Accounting reports or Financial statements are products of accounting.

What Is? Managerial Accounting Financial Accounting Page www.readysetpresent.com

Managerial Accounting

Financial Accounting

Managerial Accounting Gather information that is relevant to the decision-making needs of management. Page www.readysetpresent.com

Gather information that is relevant to the decision-making needs of management.

Financial Accounting Concerned with reports for owners, creditors and government agencies. Page www.readysetpresent.com

Concerned with reports for owners, creditors and government agencies.

Accounting Cycle (1 of 3) Analyzing and recording transactions in the journal. Posting transactions to the ledger. Preparing an unadjusted trial balance. Page www.readysetpresent.com

Analyzing and recording transactions in the journal.

Posting transactions to the ledger.

Preparing an unadjusted trial balance.

Download “ Basic Accounting & Financial Terminology ” PowerPoint Presentation at ReadySetPresent.com 78 slides include : 9 slides on understanding accounting cycles, journal entries, double-entry accounting and what is an account. In addition, learn the top tips for using “chart of accounts”, 11 slides on understanding assets, equity and receivables, 7 slides on accounts payable, slides on accounting systems and finding the best accounting system, 6 slides on merchandising business, 5 slides on financial systems, 9 slides on ledgers, balance sheet, cash flow, and more. www.readysetpresent.com Page

78 slides include : 9 slides on understanding accounting cycles, journal entries, double-entry accounting and what is an account. In addition, learn the top tips for using “chart of accounts”, 11 slides on understanding assets, equity and receivables, 7 slides on accounts payable, slides on accounting systems and finding the best accounting system, 6 slides on merchandising business, 5 slides on financial systems, 9 slides on ledgers, balance sheet, cash flow, and more.