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Accounting
The Role of Accounting ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Accounting Records ,[object Object],[object Object],[object Object],[object Object]
 Types of Accounting ,[object Object],[object Object],[object Object],[object Object]
Accounting Transactions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Balance Sheet ,[object Object],[object Object],[object Object],[object Object],[object Object]
Assets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Asset Classification ,[object Object],[object Object],[object Object],[object Object]
Liabilities ,[object Object],[object Object],[object Object],[object Object]
Liability Classifications ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Owner’s Equity ,[object Object],[object Object],[object Object],[object Object],The Accounting Equation: Assets = Liabilities + Owner’s Equity
Formatting ,[object Object],[object Object],[object Object],[object Object]
Balance Sheet Example
Balance Sheet Solution                                                                                               0 0 2 $383  Total Liabilities and Owenrs Equity   0 0 2 $383  Total Assets   0 0 0 325 S. Simpson, Capital   0 0 5 $367  Total Capital Assets           Owner's Equity   0 0 0 300 Land   0 0 2 $58  Total Liabilities   0 0 0 50 Building   0 0 0 40 Mortgage   0 0 5 17 Audio Equipment and Speakers           Long Term Liabilities           Capital Assets   0 0 2 $ 18  Total Current Liabilities   0 0 7 $  15  Total Current Assets   0 0 0 15 Bank Loan   0 0 7   Accounts Receivable   0 0 2 $  3  Accounts Payable   0 0 0 $  15  Cash           Current Liabilities           Current Assets           Liabilities           Assets                         As of April 15th, 2008 Balance Sheet Simon's Recording Studio
Income Statement ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Income Statement Components ,[object Object],[object Object],[object Object],[object Object]
Income Statement Components  ,[object Object],[object Object],[object Object],[object Object]
Accounting for a Merchandising Business ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Calculations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Example: Income Statement
Accounting Ratios: Working Capital ,[object Object],[object Object],[object Object],[object Object],[object Object]
Accounting Ratios: Current Ratio ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Accounting Ratios: Return on Sales ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Accounting Ratios: Return on Owner’s Equity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],34,000 Net Profit 431,000 Owner’s Equity, Dec 31, 2005 410,000 Owner’s Equity, Jan 1, 2005

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Intro To Accounting

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  • 14. Balance Sheet Solution                                                                                               0 0 2 $383 Total Liabilities and Owenrs Equity   0 0 2 $383 Total Assets   0 0 0 325 S. Simpson, Capital   0 0 5 $367 Total Capital Assets           Owner's Equity   0 0 0 300 Land   0 0 2 $58 Total Liabilities   0 0 0 50 Building   0 0 0 40 Mortgage   0 0 5 17 Audio Equipment and Speakers           Long Term Liabilities           Capital Assets   0 0 2 $ 18 Total Current Liabilities   0 0 7 $ 15 Total Current Assets   0 0 0 15 Bank Loan   0 0 7   Accounts Receivable   0 0 2 $ 3 Accounts Payable   0 0 0 $ 15 Cash           Current Liabilities           Current Assets           Liabilities           Assets                         As of April 15th, 2008 Balance Sheet Simon's Recording Studio
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