The document provides an overview of accounting concepts including:
- Accounting involves identifying, recording, and communicating economic events through activities like recording transactions, classifying data, and preparing reports.
- Generally Accepted Accounting Principles (GAAP) are the standard framework and guidelines followed for financial accounting.
- The Sarbanes-Oxley Act established requirements for public company management and accounting to ensure accurate financial reporting.
- The basic accounting equation shows that assets must equal liabilities plus owner's equity.
Concept of Accounting Equation and the effect of transactions on Accounting Equation. To know about asset, liabilities, equities and concept of accounting equation. how to analyze accounting equation. Effect of transactions on accounting equation.
Concept of Accounting Equation and the effect of transactions on Accounting Equation. To know about asset, liabilities, equities and concept of accounting equation. how to analyze accounting equation. Effect of transactions on accounting equation.
Financial Workshop - Builders Profitable Marketing Oct 2015 Roshan Fernando
Great presentation for Small Business owners to understand the importance of being able to read financial statements, the difference between profit and cash flow, the power of 1 and basic ratios and percentages to keep an eye on operational performance and cash flow...
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Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
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Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
4. ➰Accounting➰
💧The process of recording of business transection is called accounting .
Or,
💧The action or process of keeping financial accounts is called accounting .
And also,
💧Accounting is one kind of information system that identifies records and communicates the
economic events of an organization to interested user .
5. ➰Accounting Activities➰
There are Three Activities :
↪ Identification – Select economic events [Transaction] .
↪ Recording – Record, Classify and Summarize .
↪ Communication – Prepare accounting reports .
Accounting involves, the entire process of identifying, recording and communicating economic
events .
6. ➰GAAP➰
( Generally Accepted Accounting Principal)
The common set of accounting principles, standards and procedures .
Generally accepted accounting principles (GAAP) are the standard framework of guidelines for
financial accounting used in any given jurisdiction; generally known as accounting standards or
standard accounting practice. These include the standards, conventions, and rules that accountants
follow in recording, summarizing and in the preparation of financial statements.
7. ➰SOX System
Sarbanes – Oxley Act➰
The Sarbanes-Oxley Act of 2002 has dramatically affected overall awareness and management of internal
controls in public corporations. Responsibility for accurate financial reporting has landed squarely on the
shoulders of senior management, including the potential for personal criminal liability for CEOs and
CFOs. Since modern accounting systems are computer based, accurate financial reporting depends on
reliable, and secure, computing environment .
8. ➰Accounting Equation➰
An accounting equation is a mathematical expression which shows that the asset and liabilities of a firm are equal .
= +
Assets Liabilities
Owner’s
Equity
Basic Equation Assets = Liabilities + Owner’s Equity
Expanded Equation Assets = Liabilities + Owner’s Capital – Owner’s Drawing + Revenues - Expenses
18. Transaction 7:
Withdrawal of cash by owner 1,300/- .
The asset Cash decreases 1,300/- and owner’s equity decreases 1,300/- due to owner’s withdrawal (Owner’s Drawings) .
Assets = Liability + Owner’s Equity
Cash + Accounts
Receivable
+ Supplies + Equipment =
=
Accounts
Payable
+ Owner’s
Capital
- Owner’s
Drawings
+ Revenues - Expenses
9,350/- 1,400/- 1,600/- 7,000/- 1,600/- 15,000/- 4,700/- 1,950/-
-1,300 -1,3000
8,050/- + 1,400/- + 1,600/- + 7,000/- 1,600/- + 15,000/- - 1,300/- + 4,700/- - 1,950/-
18,050/- 18,050/-
An equal decrease in assets and owner’s equity .
19. ➰Financial Statements➰
Companies prepare four financial statements from the summarized accounting data :
⤵ ⤵ ⤵ ⤵Income
Statement
Owner’s Equity
Statement
Balance Sheet Cash Flows
20. Income Statement
Dane’s Shop
Income Statement
For the month ended June 30 2014
Revenues : 5,850/-
Service Revenue Expense :
Salary Expense 2,000
Rent Expenses 400
Advertising Expenses 250
Total Expenses 2,650
Net Income 3,200/-
Reports the revenues and expenses for a specific
period of time .
Net income revenues exceed expenses .
Net Loss – expenses exceed revenues .
21. Income Statement
Dane’s Shop
Income Statement
For the month ended June 30, 2014
Revenues : 5,850/-
Service Revenue Expense :
Salary Expense 2,000
Rent Expenses 400
Advertising Expenses 250
Total Expenses 2,650
Net Income 3,200/-
Dane’s Shop
Owner’s Equity Statement
For the month ends June 30, 2014
Dane’s , Capital June,
Add Investment 10,000
Net Income 3,200
13,200
Less Drawings 1,000
12,200/-
Net income is need to determine the ending
balance in owner’s equity .
22. Statement indicates the reason why
owner’s equity has increased or decreased
during the period of time .
Dane’s Shop
Owner’s Equity Statement
For the month ends June 30, 2014
Dane’s , Capital June,
Add Investment 10,000
Net Income 3,200
13,200
Less Drawings 1,000
12,200/-
23. Balance Sheet
Dane’s Shop
Income Statement
For the month ended June 30, 2014
Assets
Cash 6,820/-
Accounts receivable 630
Equipment 5,000
12,450/-
Liabilities
Accounts Payable 250/-
Owner’s Equity
Dane’s Capital 12,200
12,450
Dane’s Shop
Owner’s Equity Statement
For the month ends June 30, 2014
Dane’s , Capital June,
Add Investment 10,000
Net Income 3,200
13,200
Less Drawings 1,000
12,200/-
The ending balance in owner’s equity is needed
in preparing the balance sheet.
24. Balance Sheet
Dane’s Shop
Income Statement
For the month ended June 30, 2014
Assets
Cash 6,820/-
Accounts receivable 630
Equipment 5,000
12,450/-
Liabilities
Accounts Payable 250/-
Owner’s Equity
Dane’s Capital 12,200
12,450
Reports the assets, liabilities and owner’s equity
at a specific date .
Assets listed at the top, followed by liabilities
and owner’s equity .
Total assets must be equal to liabilities and
owner’s equity .
25. Balance Sheet
Assets
Cash 6,820/-
Dane’s Shop Statement of Cash Flows for the
Month Ended June 30, 2014
Cash flow from operating activities
Cash receipts from revenues 5,220/-
Cash paid for expenses (2,400)
Cash provided by operations 2,820
Cash flow from investing activities
Purchase of equipment (5,000)
Cash flow from financing activities
Investment by owners 10,000
Drawings by owners (1,000)
Cash provided by financing 9,000
Net increase in Cash 6,820
Cash balance, June 1 _
Cash balance June 30 6,820/-
26. Information for a specific
period of time .
Dane’s Shop Statement of Cash Flows for the
Month Ended June 30, 2014
Cash flow from operating activities
Cash receipts from revenues 5,220/-
Cash paid for expenses (2,400)
Cash provided by operations 2,820
Cash flow from investing activities
Purchase of equipment (5,000)
Cash flow from financing activities
Investment by owners 10,000
Drawings by owners (1,000)
Cash provided by financing 9,000
Net increase in Cash 6,820
Cash balance, June 1 _
Cash balance June 30 6,820/-
Statement of cash flows