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Accounting Basics - Kevin Nott

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Kevin Nott
BusinessEconomy & Finance
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Accounting Basics for Non-Financial Individuals
What is Accounting? ,[object Object],[object Object],[object Object]
A Crash Course in Accounting
Basic Measuring Tool: The Account ,[object Object],[object Object],[object Object]
The Chart of Accounts ,[object Object],[object Object],[object Object]
Types of Accounts ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Assets ,[object Object],[object Object],[object Object]
Current Assets ,[object Object],[object Object],[object Object]
Fixed Assets ,[object Object],[object Object],[object Object]
Liabilities ,[object Object],[object Object],[object Object]
Current Liabilities ,[object Object],[object Object],[object Object]
Long-Term Liabilities ,[object Object],[object Object]
Equity ,[object Object],[object Object],[object Object],[object Object],[object Object]
Revenue ,[object Object],[object Object],[object Object]
Expenses ,[object Object],[object Object],[object Object],[object Object],[object Object]
Cost of Goods Sold ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Fixed Costs ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Recording Transactions with Double Entry ,[object Object],[object Object],[object Object]
Introducing: Debits and Credits ,[object Object]
Debit ,[object Object],[object Object]
Credit ,[object Object],[object Object]
All Things Must Be Equal ,[object Object],[object Object]
The Trial Balance Shows it All ,[object Object],[object Object],[object Object],[object Object]
Transaction Entry Types
Example ,[object Object],[object Object],[object Object]
Let’s add a twist ,[object Object],[object Object],[object Object],[object Object]
The Accounting Equation Assets = Liabilities + Owners’ Equity where Owners’ Equity includes accumulated profits (losses) and Revenue - expenses = profit (loss)
Making Sense of it all with Financial Reports ,[object Object],[object Object],[object Object]
Balance Sheet ,[object Object],[object Object],[object Object],[object Object],[object Object]
Income Statement ,[object Object],[object Object],[object Object],[object Object]
Periodic Reporting ,[object Object],[object Object],[object Object]
The Reporting Year ,[object Object],[object Object]
Reporting Frequency ,[object Object],[object Object],[object Object],[object Object]
Cash versus Accrual ,[object Object],[object Object]
The Matching Principle ,[object Object]
Financial Analysis Making Sense of Financial Statements ,[object Object],[object Object],[object Object],[object Object]
Best Practices ,[object Object],[object Object],[object Object]
Gross Profit ,[object Object],[object Object],[object Object]
Net Profit ,[object Object],[object Object],[object Object]
Breakeven Revenue ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Working Capital ,[object Object],[object Object],[object Object]
Current Ratio ,[object Object],[object Object],[object Object],[object Object]
Debt to Equity Ratio ,[object Object],[object Object],[object Object],[object Object],[object Object]
Return on Assets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Return on Equity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Help is Available ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Accounting Basics - Kevin Nott

  • 1. Accounting Basics for Non-Financial Individuals
  • 2.
  • 3. A Crash Course in Accounting
  • 4.
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  • 27. The Accounting Equation Assets = Liabilities + Owners’ Equity where Owners’ Equity includes accumulated profits (losses) and Revenue - expenses = profit (loss)
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