“Getting started with financial accounting”
(In less then 5 Minutes!)
To play these exciting playstation games
we need a p...
Play Stations cost money
That’s how much we need
$ 150
Let’s see how much we have
Can we buy this from our pocket money?
Nothing left
from my
pocket
money.
Wait!
The piggy bank has some money!!
60 Bucks. Not Bad!
Need to ask dad (better still Mom) for a loan
50 Bucks.
That’s what
Dad can
spare.
Still not Enough !
60 Bucks from the Piggy Bank &
50 Bucks from dad
That’s a cool 110 bucks!.
60 Bucks 50 Bucks
+ =
110
?Now What ?
Where do we get that?
40 Bucks Short
Tommy !
His Piggy Bank’s Bursting
If Tommy can put in 40 bucks
He can Share the Playstation
Tommy’s IN !
My New partner..
I need 40 Bucks
But Tommy wants to be an equal partner
I put in 60 Bucks
And here’s his 60 b...
More than enough money
to buy the Playstation
+
=
+
170
Piggy Bank 60
From Dad 50
From Tommy 60
Let’s do some quick math
The Playstation only costs 150
Money Left Over $20
Let’s talk money language
That’s the name for
Where the money came from
(also known as SOURCE)
Liability
Like any language
money language also has a vocabulary
Money that you put in is
Owner’s Capital
*
When you have a Partner ...
Let’s go get that Playstation and hook it up
Where the Money went
Lets play with the games
that came with the Playstation
Image of 2 kids buying a playstation
Time
For some more Money Language
ASSETS
OR
Where the Money went
(also known as Application of Funds)
Money that’s Left over is also an Asset
(Known as Cash Balance)
A statement Balancing
Where the money came from
with
Where the Money went
Is called a Balance Sheet
Back to the Money Lang...
Our very 1st
Balance Sheet
Liabilities
(Where the Money came from)
*
Shareholders Capital
ME $60
Tommy $60
*
Loans
Dad $50...
5 minute balance sheet 01
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5 minute balance sheet 01

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  • Suggested name: the five-minute balance sheet. Suggested name for the second chapter: the four-minute balance sheet. "Making your own computers".
  • And your
  • At the end of the slide there could be snippets of comments. You can get just about anything if you plan right. Let’s show you.
  • Information integrity: the correct definition of a balance sheet. Assets are equal to liabilities plus your own capital. To be explained subsequently.
  • 5 minute balance sheet 01

    1. 1. “Getting started with financial accounting” (In less then 5 Minutes!) To play these exciting playstation games we need a play station 1st !
    2. 2. Play Stations cost money That’s how much we need $ 150 Let’s see how much we have
    3. 3. Can we buy this from our pocket money?
    4. 4. Nothing left from my pocket money.
    5. 5. Wait! The piggy bank has some money!! 60 Bucks. Not Bad!
    6. 6. Need to ask dad (better still Mom) for a loan 50 Bucks. That’s what Dad can spare.
    7. 7. Still not Enough ! 60 Bucks from the Piggy Bank & 50 Bucks from dad That’s a cool 110 bucks!. 60 Bucks 50 Bucks + = 110
    8. 8. ?Now What ? Where do we get that? 40 Bucks Short
    9. 9. Tommy ! His Piggy Bank’s Bursting
    10. 10. If Tommy can put in 40 bucks He can Share the Playstation
    11. 11. Tommy’s IN ! My New partner.. I need 40 Bucks But Tommy wants to be an equal partner I put in 60 Bucks And here’s his 60 bucks!
    12. 12. More than enough money to buy the Playstation + = + 170 Piggy Bank 60 From Dad 50 From Tommy 60 Let’s do some quick math
    13. 13. The Playstation only costs 150 Money Left Over $20
    14. 14. Let’s talk money language That’s the name for Where the money came from (also known as SOURCE) Liability
    15. 15. Like any language money language also has a vocabulary Money that you put in is Owner’s Capital * When you have a Partner (like Tommy) that’s Shareholders Capital * Loan from Mom or Dad known as Loans
    16. 16. Let’s go get that Playstation and hook it up Where the Money went
    17. 17. Lets play with the games that came with the Playstation Image of 2 kids buying a playstation
    18. 18. Time For some more Money Language ASSETS OR Where the Money went (also known as Application of Funds)
    19. 19. Money that’s Left over is also an Asset (Known as Cash Balance)
    20. 20. A statement Balancing Where the money came from with Where the Money went Is called a Balance Sheet Back to the Money Language
    21. 21. Our very 1st Balance Sheet Liabilities (Where the Money came from) * Shareholders Capital ME $60 Tommy $60 * Loans Dad $50 Total $170 Assets (Where the Money went) Playstation $150 * Cash Balance $20 (Money Left Over) Total $170

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