world-financial-planning-day

1. Principle of Accounting II

2. Team Members
Rawda Marwan
Rahma Khaled
Esraa Mohamed

3. Summary
Financial Statment
01
03
Introduction
Balance Sheet
02
04
Table of contents
Inventory
05 Fixed Assets
06

4. 1. The differences between
service and merchandising
companies.
2. Explain the purchase and
sales revenue under
perpetual and periodic
system.
3. The multiple-step and
single-step income
statement
1.How to apply the
inventory
(FIFO-LIFO-AVARAGE)
2.Explain the lower of cost
of market basis of
accounting for inventories.
3.Inventory turnover
1.Describe the operation of
petty cash fund.
2. Prepare bank
reconciliation.

5. 1.Identify the different types of
receivable.
2.Explain how companies recognize
account receivable.
1.Describe how the cost principle
applies to plant assets.
2.Compute periodic depreciation
using different methods.

6. Oriental Weavers is an Egyptian company founded in 1981 by Mohamed
Farid Khamis, which specializes in the production, sale and export of
mechanical carpets, fibers and related materials. In addition to its
investment with other 17 companies now and 4 additional
companies under construction. It is located on the
( Tenth of Ramadan city ) . The group owns two factories outside
Egypt in China and in United States of America.

8. (Partial ) Balance sheet
Current Assets
Cash and Cash equivalent 191,771,336
Account Receivable 743,391,363
Inventory 1,703,924,563
Supplies 15,299,626
Assets

9. (Partial ) Balance sheet
Non-Current Assets
Planet Asset, net 1,625,254,153
Land 121,894,497
Building 605,054,067
Accumulated depreciation (153,706,713 )
Building, net 451,347,354
Trucks 78,771,052
Accumulated depreciation 52,963,085
Trucks, net 25,807,967

10. (Partial ) Balance sheet
Non-Current Assets
Equipment 2,116,747,431
Accumulated depreciation 52,963,085
Equipment , net 988,498,766

11. They determine the inventory
cost using ( Average Method).

12. Fixed assets
The depreciable fixed assets are depreciated using the straight-line
method.
Fixed assets Estimation
Buildings 25 : 50
Equipment 10
Trucks 5 : 8
Furniture 5 : 10

14. Thanks!
Do you have any questions?