The accounting equation
•Download as PPTX, PDF•
3 likes•1,510 views
Every wonder what all the fuss is all about when accountant say it must balance. Well see what all the fuss is about by previewing this powerpoint
Report
Share
Report
Share
Recommended
Accounting - Lesson 2 : The Accounting Equation
This course covers the complete accounting cycle and is designed for those
who are interested in working in the areas of bookkeeping, clerical
accounting, finance or general office work or are looking to review their
accounting knowledge.Our accounting course teaches principles of
accounting, which are consistent across the globe. Even though there may
be minor differences in accounting principles in different countries, the core
accounting principles are the same.
Accounting Equation
The accounting equation states that a company's assets must equal the sum of its liabilities and equity. Assets are resources owned by a company such as land, equipment, buildings, cash, vehicles, stock, and amounts owed to the company by debtors. Liabilities represent creditors' claims on a company's assets such as bank loans, accrued expenses, and amounts owed to creditors. Equity represents the owners' claims on the company's assets through investments, revenues, and drawings on the business. The accounting equation must remain balanced after every business transaction.
Accounting Equation-An Introduction
The document introduces the accounting equation, which states that for any business, assets must equal liabilities plus owner's equity. Assets are the resources owned, like cash, inventory, or property. Liabilities are debts owed, such as loans or unpaid expenses. Owner's equity represents the owner's claim to assets after liabilities are paid. The accounting equation also applies to individuals and must always balance.
The Accounting Equation with Examples
Learn what is the accounting equation illustrated with examples. In this presentation, you will understand what the accounting equation is and the intuition behind.
Accounting equation
The accounting equation states that assets are equal to liabilities plus owner's equity. It represents the relationship between what a business owns (assets), what it owes (liabilities), and the owner's claim on the assets (owner's equity). Every transaction affects at least two accounts to maintain the balance of the accounting equation. The equation ensures that the sources of a business's assets are identified as either belonging to creditors (liabilities) or the owner (owner's equity).
Accounting Equation Presentation
The document discusses the accounting equation and how it is affected by business transactions.
The accounting equation states that total assets are equal to total liabilities plus owner's equity. It must always balance as transactions occur. Several examples are provided of how common business transactions like purchases, sales, expenses, and cash payments impact the accounting equation by increasing or decreasing different accounts. The procedure for preparing accounting equations based on transaction details is also outlined.
The Accounting Equation - Introduction
The accounting equation states that assets must always equal the sum of capital and liabilities. It is the fundamental concept in accounting that the resources (assets) of a business are supplied by either its owners (capital) or others it owes (liabilities). Assets represent the resources owned, capital represents the owners' claim to assets, and liabilities represent amounts owed to non-owners. The equation must always balance, as it reflects two ways of looking at the same financial position of a business. Examples are given to illustrate how transactions affect the components of the equation while maintaining the balance.
Accounting equation
The accounting equation shows that a business's economic resources must equal the claims against those resources. Economic resources, also called assets, are items owned that provide future economic benefits. Assets equal liabilities plus equity. Liabilities are obligations to pay others, while equity is the owners' residual claim after deducting liabilities from assets. Expenditures must be classified as capital or revenue for the accounting periods to properly match expenses with revenues and show accurate asset values and financial results in accordance with accounting principles.
Recommended
Accounting - Lesson 2 : The Accounting Equation
This course covers the complete accounting cycle and is designed for those
who are interested in working in the areas of bookkeeping, clerical
accounting, finance or general office work or are looking to review their
accounting knowledge.Our accounting course teaches principles of
accounting, which are consistent across the globe. Even though there may
be minor differences in accounting principles in different countries, the core
accounting principles are the same.
Accounting Equation
The accounting equation states that a company's assets must equal the sum of its liabilities and equity. Assets are resources owned by a company such as land, equipment, buildings, cash, vehicles, stock, and amounts owed to the company by debtors. Liabilities represent creditors' claims on a company's assets such as bank loans, accrued expenses, and amounts owed to creditors. Equity represents the owners' claims on the company's assets through investments, revenues, and drawings on the business. The accounting equation must remain balanced after every business transaction.
Accounting Equation-An Introduction
The document introduces the accounting equation, which states that for any business, assets must equal liabilities plus owner's equity. Assets are the resources owned, like cash, inventory, or property. Liabilities are debts owed, such as loans or unpaid expenses. Owner's equity represents the owner's claim to assets after liabilities are paid. The accounting equation also applies to individuals and must always balance.
The Accounting Equation with Examples
Learn what is the accounting equation illustrated with examples. In this presentation, you will understand what the accounting equation is and the intuition behind.
Accounting equation
The accounting equation states that assets are equal to liabilities plus owner's equity. It represents the relationship between what a business owns (assets), what it owes (liabilities), and the owner's claim on the assets (owner's equity). Every transaction affects at least two accounts to maintain the balance of the accounting equation. The equation ensures that the sources of a business's assets are identified as either belonging to creditors (liabilities) or the owner (owner's equity).
Accounting Equation Presentation
The document discusses the accounting equation and how it is affected by business transactions.
The accounting equation states that total assets are equal to total liabilities plus owner's equity. It must always balance as transactions occur. Several examples are provided of how common business transactions like purchases, sales, expenses, and cash payments impact the accounting equation by increasing or decreasing different accounts. The procedure for preparing accounting equations based on transaction details is also outlined.
The Accounting Equation - Introduction
The accounting equation states that assets must always equal the sum of capital and liabilities. It is the fundamental concept in accounting that the resources (assets) of a business are supplied by either its owners (capital) or others it owes (liabilities). Assets represent the resources owned, capital represents the owners' claim to assets, and liabilities represent amounts owed to non-owners. The equation must always balance, as it reflects two ways of looking at the same financial position of a business. Examples are given to illustrate how transactions affect the components of the equation while maintaining the balance.
Accounting equation
The accounting equation shows that a business's economic resources must equal the claims against those resources. Economic resources, also called assets, are items owned that provide future economic benefits. Assets equal liabilities plus equity. Liabilities are obligations to pay others, while equity is the owners' residual claim after deducting liabilities from assets. Expenditures must be classified as capital or revenue for the accounting periods to properly match expenses with revenues and show accurate asset values and financial results in accordance with accounting principles.
Accounting equation
The accounting equation states that assets are equal to liabilities plus capital. Assets are resources owned by a business that are measured in monetary terms and increase with debits and decrease with credits. Liabilities are financial obligations that increase with credits and decrease with debits. Capital accounts relate to the owners' equity and increase with credits and decrease with debits. In every transaction, the total debits must equal the total credits.
Accounting basics2
This document provides an overview of basic accounting concepts and principles. It explains the accounting equation that balances assets, liabilities, and owner's equity. It also describes the key financial statements of a balance sheet and profit and loss statement. The balance sheet presents the financial position at a point in time, while the profit and loss statement shows revenues, expenses and profits over a period. Additionally, it outlines the basics of double entry bookkeeping, ledger accounts, and how a trial balance can verify the accuracy of bookkeeping entries.
The accounting equation
The document shows transactions that impact assets, liabilities, and equity according to the accounting equation Assets = Liabilities + Equity. It starts with $10,000 of assets from an investment, then borrowing $30,000 increases both assets and liabilities. Purchasing $20,000 of goods increases assets. Selling goods for $20,000 decreases assets and paying a $20,000 note decreases both liabilities and assets, keeping the accounting equation in balance.
Accounting - Lesson 4 : Transactions That Affect Assets Liabilities, and O...
This course covers the complete accounting cycle and is designed for those
who are interested in working in the areas of bookkeeping, clerical
accounting, finance or general office work or are looking to review their
accounting knowledge.Our accounting course teaches principles of
accounting, which are consistent across the globe. Even though there may
be minor differences in accounting principles in different countries, the core
accounting principles are the same.
Acc week 2
The document discusses key concepts in accounting including the accounting equation, business transactions, source documents, and examples of common source documents. It provides examples of transactions and their impact on the accounting equation for a business. Common source documents that provide evidence of transactions are discussed, such as invoices, credit notes, payment vouchers, and bank statements.
Accounting - Lesson 3 : The Business Transactions
This document provides an overview of lesson 3 in an accounting course for beginners. It discusses 4 key learning objectives: 1) business transactions, 2) four transactions that affect the balance sheet, 3) four transactions that affect the income statement. It defines important terms like revenue, expense, assets, liabilities, and equity. It also summarizes the basic steps for analyzing a business transaction and the 8 most important types of transactions that affect financial statements.
BASIC ACCOUNTING
This document provides an introduction to accounting basics. It defines accounting as the language of business that delivers financial information to various users. Accounting involves recording and interpreting business transactions expressed in monetary terms. The main purposes of accounting are to provide information about a business entity's results of operations, financial position, cash flows, and other useful information to both internal and external users for decision making. The key elements in accounting are assets, liabilities, capital/equity, income, and expenses, which are related through the accounting equation. Financial statements including the income statement, balance sheet, statement of cash flows, and notes to financial statements present the financial information in an organized manner and are interrelated.
Accounting equation and element
The document defines accounting, the accounting equation, and accounting elements.
The accounting equation expresses the relationship between assets, liabilities, and owners' equity, with the formula being Assets = Liabilities + Owners' Equity. Assets are resources owned or controlled by a company, while liabilities represent creditors' claims on assets. Owners' equity refers to ownership claims on total assets. There are two types of assets - current and fixed - and two types of liabilities - long term and current. Owners' equity includes elements like capital and reserves.
20 Effective Interview Questions for Accounting and Finance Professionals
The document lists 20 potential interview questions for accounting and finance professionals. The questions cover a range of topics including important skills for accountants, explaining complex processes, impacts of purchases on financial statements, defining big data, differences between accounts receivable and payable, journal entries, accounting software, developing business metrics, evaluating financial information, and recent changes in accounting standards.
Sample Detailed Lesson Plan
This lesson plan discusses the course descriptions, goals, and objectives of language subjects like English and Filipino. It aims to help students understand the importance of language learning and demonstrate expected competencies in listening, speaking, reading, and writing for each grade level. The teacher leads a discussion where students explain the objectives for different grades in each language subject drawn from the Basic Education Curriculum. The lesson emphasizes that learning the country's languages helps develop communication skills and international competitiveness, making students more successful. For evaluation, students answer short questions about the lesson and write an insight about one language subject area.
Accounting and its terminolgy
THE DEFINATION IS GIVEN BY THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANT (AICPA).
ACCOUNTING IS AN ART OF RECORDING, CLASSIFIED AND SUMMERING IN A SIGNIFICANT MEMBER AND IN TURNS OF MONEY, TRANSACTION, AND EVENT WHICH HAVE A RESULT.
By referring the video you will definitely know the terms and concepts used in accounts and definitely, you will score much as possible.
Basis accounting procedure
I have made a PPT on introduction to accounting and basic accounts..
Pls check the enclosure..
Hope this will be useful for non-accounts student..
'Vouching of cash book'
The document provides guidance on procedures for auditing various entries in the books of accounts, including the opening balance of the cash book, cash received from debtors, rent received, sale of investments, subscriptions, interest and dividend received, commission received, installments received on hire-purchase sales, vouching of cash payments, vouching of personal ledger accounts including purchase and sales ledgers, vouching of impersonal ledger accounts, and procedures for verifying outstanding assets and liabilities such as prepaid expenses, income receivable, deferred revenue expenditure, and examples of each. The document outlines steps the auditor should take to verify the accuracy and completeness of accounting entries across various accounts and ledgers.
Accounting and finance ppt @ bec doms bagalkot mba finance
The document provides an overview of various accounting and finance topics for bankers, including:
1) Bank reconciliation statements, trial balances, capital vs revenue expenditure, inventory valuation, and bills of exchange.
2) It describes the three types of accounts in accounting - real, personal, and nominal accounts - and the basic rules for debiting and crediting each type.
3) Details are given on specific topics like bank reconciliation statements, trial balances, and distinguishing between capital and revenue expenditures. Methods for inventory valuation are also outlined.
Book keeping
This document provides an introduction and guidelines for proper bookkeeping. It outlines key bookkeeping concepts like the different types of financial transactions that should be recorded, the importance of supporting documentation, and the advantages of bookkeeping for businesses. It recommends keeping key books like a cashbook, expenses record, creditors/debtors book, and inventory book. Finally, it explains the differences between cash and accrual-based accounting and single and double-entry bookkeeping methods.
(5).ppt
nnnnnncvdnfkvndkfnvkndfkvndfknvkdfnbkndfkvndfkjnbvfdknvkdfnvfdknfdknvdfnvdfnvdfknvvvvvvvvvvfdskkkkkkkkkkkvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvaejknfksangksjfgbskfjbgkkkkfhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhgaslk NFSLlllkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkk
5 steps to easy(ier) legal accounting handout
A talk given before the ABA's Legal Technology Research Center in April 2014 by Joshua Lenon.
Every year during tax season, you probably end up thinking the same thing: “I’ll be more organized next year!” We’re here to help you follow through with that goal this year – or maybe next.
- Get a handle on the basics of accounting
- Understand how legal accounting differs from regular accounting
- Learn how to pick and integrate the best accounting tools for your practice
Accounting Process & Procedure
The document provides information about accounting processes and procedures. It discusses transactions and events recorded in the general ledger. It describes different types of vouchers like supporting, journal, receipt, and payment vouchers. It also explains steps to prepare journal entries and the utility and limitations of journals. Furthermore, it discusses subsidiary books, ledger, trial balance and various financial statements like trading account, profit and loss account and balance sheet. It provides details about preparing bank reconciliation statements and their benefits.
TRANSACTIONS (1).pdf
The document discusses business transactions and how they affect a company's balance sheet. It provides an example of a moving company that undertakes seven transactions over the month, including paying down debt, purchasing equipment, and providing services. For each transaction, the appropriate accounts on the balance sheet are adjusted on a transaction analysis sheet to ensure the fundamental accounting equation remains balanced. The final balances from the analysis sheet can then be used to create an updated balance sheet showing the company's new financial position.
Double Entry System & Accountin Equation
1) The accounting equation shows that a company's assets are always equal to its liabilities plus equity.
2) Double entry accounting requires every transaction to have equal debits and credits so the accounting equation remains balanced.
3) Examples of transactions that affect the accounting equation include purchasing inventory, receiving payment from customers, and paying expenses.
Legal aspects of trade finance
This document discusses trade finance methods like letters of credit and guarantees. It describes letters of credit as a payment mechanism where a bank guarantees a buyer's payment to a seller. Guarantees are promises by a guarantor to pay a beneficiary if certain obligations are not met. The document outlines the key parties involved in letters of credit and guarantees like applicants, beneficiaries, issuing banks, and advising banks. It also explains the advantages of these trade finance methods for both buyers and sellers and some basic features of guarantees.
More Related Content
Viewers also liked
Accounting equation
The accounting equation states that assets are equal to liabilities plus capital. Assets are resources owned by a business that are measured in monetary terms and increase with debits and decrease with credits. Liabilities are financial obligations that increase with credits and decrease with debits. Capital accounts relate to the owners' equity and increase with credits and decrease with debits. In every transaction, the total debits must equal the total credits.
Accounting basics2
This document provides an overview of basic accounting concepts and principles. It explains the accounting equation that balances assets, liabilities, and owner's equity. It also describes the key financial statements of a balance sheet and profit and loss statement. The balance sheet presents the financial position at a point in time, while the profit and loss statement shows revenues, expenses and profits over a period. Additionally, it outlines the basics of double entry bookkeeping, ledger accounts, and how a trial balance can verify the accuracy of bookkeeping entries.
The accounting equation
The document shows transactions that impact assets, liabilities, and equity according to the accounting equation Assets = Liabilities + Equity. It starts with $10,000 of assets from an investment, then borrowing $30,000 increases both assets and liabilities. Purchasing $20,000 of goods increases assets. Selling goods for $20,000 decreases assets and paying a $20,000 note decreases both liabilities and assets, keeping the accounting equation in balance.
Accounting - Lesson 4 : Transactions That Affect Assets Liabilities, and O...
This course covers the complete accounting cycle and is designed for those
who are interested in working in the areas of bookkeeping, clerical
accounting, finance or general office work or are looking to review their
accounting knowledge.Our accounting course teaches principles of
accounting, which are consistent across the globe. Even though there may
be minor differences in accounting principles in different countries, the core
accounting principles are the same.
Acc week 2
The document discusses key concepts in accounting including the accounting equation, business transactions, source documents, and examples of common source documents. It provides examples of transactions and their impact on the accounting equation for a business. Common source documents that provide evidence of transactions are discussed, such as invoices, credit notes, payment vouchers, and bank statements.
Accounting - Lesson 3 : The Business Transactions
This document provides an overview of lesson 3 in an accounting course for beginners. It discusses 4 key learning objectives: 1) business transactions, 2) four transactions that affect the balance sheet, 3) four transactions that affect the income statement. It defines important terms like revenue, expense, assets, liabilities, and equity. It also summarizes the basic steps for analyzing a business transaction and the 8 most important types of transactions that affect financial statements.
BASIC ACCOUNTING
This document provides an introduction to accounting basics. It defines accounting as the language of business that delivers financial information to various users. Accounting involves recording and interpreting business transactions expressed in monetary terms. The main purposes of accounting are to provide information about a business entity's results of operations, financial position, cash flows, and other useful information to both internal and external users for decision making. The key elements in accounting are assets, liabilities, capital/equity, income, and expenses, which are related through the accounting equation. Financial statements including the income statement, balance sheet, statement of cash flows, and notes to financial statements present the financial information in an organized manner and are interrelated.
Accounting equation and element
The document defines accounting, the accounting equation, and accounting elements.
The accounting equation expresses the relationship between assets, liabilities, and owners' equity, with the formula being Assets = Liabilities + Owners' Equity. Assets are resources owned or controlled by a company, while liabilities represent creditors' claims on assets. Owners' equity refers to ownership claims on total assets. There are two types of assets - current and fixed - and two types of liabilities - long term and current. Owners' equity includes elements like capital and reserves.
20 Effective Interview Questions for Accounting and Finance Professionals
The document lists 20 potential interview questions for accounting and finance professionals. The questions cover a range of topics including important skills for accountants, explaining complex processes, impacts of purchases on financial statements, defining big data, differences between accounts receivable and payable, journal entries, accounting software, developing business metrics, evaluating financial information, and recent changes in accounting standards.
Sample Detailed Lesson Plan
This lesson plan discusses the course descriptions, goals, and objectives of language subjects like English and Filipino. It aims to help students understand the importance of language learning and demonstrate expected competencies in listening, speaking, reading, and writing for each grade level. The teacher leads a discussion where students explain the objectives for different grades in each language subject drawn from the Basic Education Curriculum. The lesson emphasizes that learning the country's languages helps develop communication skills and international competitiveness, making students more successful. For evaluation, students answer short questions about the lesson and write an insight about one language subject area.
Viewers also liked (11)
Accounting - Lesson 4 : Transactions That Affect Assets Liabilities, and O...
Accounting - Lesson 4 : Transactions That Affect Assets Liabilities, and O...
20 Effective Interview Questions for Accounting and Finance Professionals
20 Effective Interview Questions for Accounting and Finance Professionals
Similar to The accounting equation
Accounting and its terminolgy
THE DEFINATION IS GIVEN BY THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANT (AICPA).
ACCOUNTING IS AN ART OF RECORDING, CLASSIFIED AND SUMMERING IN A SIGNIFICANT MEMBER AND IN TURNS OF MONEY, TRANSACTION, AND EVENT WHICH HAVE A RESULT.
By referring the video you will definitely know the terms and concepts used in accounts and definitely, you will score much as possible.
Basis accounting procedure
I have made a PPT on introduction to accounting and basic accounts..
Pls check the enclosure..
Hope this will be useful for non-accounts student..
'Vouching of cash book'
The document provides guidance on procedures for auditing various entries in the books of accounts, including the opening balance of the cash book, cash received from debtors, rent received, sale of investments, subscriptions, interest and dividend received, commission received, installments received on hire-purchase sales, vouching of cash payments, vouching of personal ledger accounts including purchase and sales ledgers, vouching of impersonal ledger accounts, and procedures for verifying outstanding assets and liabilities such as prepaid expenses, income receivable, deferred revenue expenditure, and examples of each. The document outlines steps the auditor should take to verify the accuracy and completeness of accounting entries across various accounts and ledgers.
Accounting and finance ppt @ bec doms bagalkot mba finance
The document provides an overview of various accounting and finance topics for bankers, including:
1) Bank reconciliation statements, trial balances, capital vs revenue expenditure, inventory valuation, and bills of exchange.
2) It describes the three types of accounts in accounting - real, personal, and nominal accounts - and the basic rules for debiting and crediting each type.
3) Details are given on specific topics like bank reconciliation statements, trial balances, and distinguishing between capital and revenue expenditures. Methods for inventory valuation are also outlined.
Book keeping
This document provides an introduction and guidelines for proper bookkeeping. It outlines key bookkeeping concepts like the different types of financial transactions that should be recorded, the importance of supporting documentation, and the advantages of bookkeeping for businesses. It recommends keeping key books like a cashbook, expenses record, creditors/debtors book, and inventory book. Finally, it explains the differences between cash and accrual-based accounting and single and double-entry bookkeeping methods.
(5).ppt
nnnnnncvdnfkvndkfnvkndfkvndfknvkdfnbkndfkvndfkjnbvfdknvkdfnvfdknfdknvdfnvdfnvdfknvvvvvvvvvvfdskkkkkkkkkkkvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvaejknfksangksjfgbskfjbgkkkkfhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhgaslk NFSLlllkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkk
5 steps to easy(ier) legal accounting handout
A talk given before the ABA's Legal Technology Research Center in April 2014 by Joshua Lenon.
Every year during tax season, you probably end up thinking the same thing: “I’ll be more organized next year!” We’re here to help you follow through with that goal this year – or maybe next.
- Get a handle on the basics of accounting
- Understand how legal accounting differs from regular accounting
- Learn how to pick and integrate the best accounting tools for your practice
Accounting Process & Procedure
The document provides information about accounting processes and procedures. It discusses transactions and events recorded in the general ledger. It describes different types of vouchers like supporting, journal, receipt, and payment vouchers. It also explains steps to prepare journal entries and the utility and limitations of journals. Furthermore, it discusses subsidiary books, ledger, trial balance and various financial statements like trading account, profit and loss account and balance sheet. It provides details about preparing bank reconciliation statements and their benefits.
TRANSACTIONS (1).pdf
The document discusses business transactions and how they affect a company's balance sheet. It provides an example of a moving company that undertakes seven transactions over the month, including paying down debt, purchasing equipment, and providing services. For each transaction, the appropriate accounts on the balance sheet are adjusted on a transaction analysis sheet to ensure the fundamental accounting equation remains balanced. The final balances from the analysis sheet can then be used to create an updated balance sheet showing the company's new financial position.
Double Entry System & Accountin Equation
1) The accounting equation shows that a company's assets are always equal to its liabilities plus equity.
2) Double entry accounting requires every transaction to have equal debits and credits so the accounting equation remains balanced.
3) Examples of transactions that affect the accounting equation include purchasing inventory, receiving payment from customers, and paying expenses.
Legal aspects of trade finance
This document discusses trade finance methods like letters of credit and guarantees. It describes letters of credit as a payment mechanism where a bank guarantees a buyer's payment to a seller. Guarantees are promises by a guarantor to pay a beneficiary if certain obligations are not met. The document outlines the key parties involved in letters of credit and guarantees like applicants, beneficiaries, issuing banks, and advising banks. It also explains the advantages of these trade finance methods for both buyers and sellers and some basic features of guarantees.
Book keeping
This document provides definitions and explanations of key concepts in bookkeeping and accounting. It defines bookkeeping as recording business transactions in an organized manner. The double-entry system is described as recording each transaction with two entries, one as a debit and one as a credit. Advantages of the double-entry system include ensuring accuracy, enabling calculation of profits, and preventing fraud. Disadvantages include the cost and complexity of maintaining multiple accounting records.
Subsidiary books financial accounting ppt prepared by prof.satish r.tajane
This document discusses subsidiary books, which are books of original entry where transactions are first recorded. It provides examples of common subsidiary books like cash book, purchase book, sales book, bills receivable book, and bills payable book. It explains that postings are made from subsidiary books to ledger accounts. Maintaining subsidiary books makes it easier to locate transactions and provides important transaction details. However, they may not be suitable for small businesses with low volumes. Proper recording is also required to avoid errors.
Accounting
The three balance sheet accounts are assets, liabilities, and equity. Assets are things owned that will provide future benefits, like land, buildings, vehicles, equipment, and cash. Liabilities are debts owed, like loans. Equity represents the portion of assets owned outright without debt, and is calculated by subtracting total liabilities from total assets. Income increases assets and equity, while expenses decrease equity. Understanding these key accounting concepts provides the foundation for properly managing finances.
The balance sheet
This document provides an overview of balance sheets and key financial concepts:
1) A balance sheet is a statement of financial position that lists a business's assets, liabilities, and equity on a given date. It provides an estimate of market value but not necessarily the true value of a business.
2) Assets are ultimately valued based on their ability to generate revenue, while true value is determined from an actual sale.
3) A balance sheet, along with earnings and cash flow statements, are primary financial statements that can be used to analyze a business's financial health over time.
Similar to The accounting equation (15)
Accounting and finance ppt @ bec doms bagalkot mba finance
Accounting and finance ppt @ bec doms bagalkot mba finance
Subsidiary books financial accounting ppt prepared by prof.satish r.tajane
Subsidiary books financial accounting ppt prepared by prof.satish r.tajane
Recently uploaded
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
Using Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trendsLabour Market Information Council | Conseil de l’information sur le marché du travail
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.Fabular Frames and the Four Ratio Problem
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
International Sustainability Standards Board
Issb standards
New standard for reporting sustainability on lines of tcfd
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
学校原件一模一样【微信：741003700 】《(GU毕业证书)美国贡萨加大学毕业证学历证书》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
5 Tips for Creating Standard Financial Reports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Economic Risk Factor Update: June 2024 [SlideShare]
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Labour Market Information Council | Conseil de l’information sur le marché du travail
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.Ending stagnation: How to boost prosperity across Scotland
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...Labour Market Information Council | Conseil de l’information sur le marché du travail
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
The Impact of the 2024 Indian
Election Beyond Borders
01. Investment Gyan
02. Market Update
03. Inspiration investment story
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
学校原件一模一样【微信：741003700 】《(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
University of North Carolina at Charlotte degree offer diploma Transcript
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Enhancing Asset Quality: Strategies for Financial Institutions
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
Detailed power point presentation on compound interest and how it is calculated
Detailed information about compund interest
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
原版定制【微信:bwp0011】《(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
Recently uploaded (20)
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
Using Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trends
Applying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdf
Economic Risk Factor Update: June 2024 [SlideShare]
Economic Risk Factor Update: June 2024 [SlideShare]
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
Ending stagnation: How to boost prosperity across Scotland
Ending stagnation: How to boost prosperity across Scotland
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...
Upanishads summary with explanations of each upnishad
Upanishads summary with explanations of each upnishad
University of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma Transcript
Enhancing Asset Quality: Strategies for Financial Institutions
Enhancing Asset Quality: Strategies for Financial Institutions
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
The accounting equation
- 1. PERFECT BALANCE BOOKKEEPING HOW TO UNDERSTAND WHAT’S CONFUSING
- 2. ASSET = LIABILITIES + OWNER EQUITY
- 3. WHAT ARE ASSETS • CASH • ACCOUNTS RECEIVABLE • INVENTORY • FIXED ASSETS
- 5. WHAT IS OWNER EQUITY
- 6. WHERE DOES INCOME AND EXPENSE FIT INTO THE ACCOUNT EQUATION ASSETS INCOME
- 7. WHERE DOES INCOME AND EXPENSE FIT INTO THE ACCOUNT EQUATION LIABILITIES EXPENSE
- 9. Every transaction has two sides SALE
- 10. Every transaction has two sides PURCHASE
- 11. REVIEW BALANCE SHEET INCOME STATEMENT ASSETS • INCOME/REVENUE • CASH • ACCOUNT RECEIVABLE • INVENTORY • FIXED ASSETS LIABILITIES • ACCOUNTS PAYABLES • EXPENSE/PURCHASES EQUITY
- 12. THE PIECES MAKES THE EQUATION BALANCE PERFECT BALANCE BOOKKEEPING
Editor's Notes
- I KNOW YOU ALL HAVE BEEN WONDER WHAT DOES THAT ACCOUNTING EQUATION MEAN? WHAT IS IT FOR? IT SOUNDS LIKE JUMBO MUMBO.