Accounting provides quantitative financial information to help with economic decision making. It has evolved over thousands of years, with early records found in ancient Mesopotamia and more developed double entry bookkeeping emerging in 14th century Italy. There are three main types of businesses - service companies which provide intangible services, merchandising companies which buy and resell goods, and manufacturing companies which convert materials into finished products. Each has different operating cycles and considerations for managing inventory, conversion costs, quality control and human capital.
Accounting is the process of documenting a company's financial transactions. Accounting entails summarizing, evaluating, and reporting these transactions to oversight organizations, regulators, and tax collecting agencies.
Accounting is the process of documenting a company's financial transactions. Accounting entails summarizing, evaluating, and reporting these transactions to oversight organizations, regulators, and tax collecting agencies.
What is 21st Century Literature? What are the different formats used by today's writers? Why should it be studied by senior high school students? I used these slides in one of our class discussions. I hope this could help senior high school teachers teaching literature.
As for the video, you may go to YouTube and look for Juan Miguel Severo's Ito na ang Huling Tulang Isusulat ko Para Sayo.
FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1.pptxRoseBantiyan
HISTORY OF ACCOUNTING Accounting started as a simple recording of repetitive exchanges. The history of accounting is often seen as indistinguishable from the history of finance and business. It has evolved in response to various social and economic needs of men over 5,000 years- its origins can be tracked back to the beginning of time.
- ANO ANG TEKSTONG DESKRIPTIBO?
- LAYUNIN AT KAHALAGAHAN
- PARAAN NG PAGLALARAWAN
- URI NG PAGLALARAWAN
- APAT NA MAHALAGANG KASANGKAPAN NA GINAGAMIT SA MALINAW NA PAGLALARAWAN
- HALIMBAWA
Touring the Universe (An Introduction to Formation of the Universe)
I hope this lesson can shed light to SHS Grade 11 Science Teachers. My appeal to those who will download this ppt. please email me at marileahmendina08@gmail.com for my own references. I would be glad to hear from you.
Lesson in Introduction to Philosophy of Human Person
"Join me on my YouTube channel for more insightful topics! Don't forget to hit the subscribe button and share with your friends to stay updated on all the latest content!"
https://www.youtube.com/@JehnSimon
This slide is all about Introduction to Accounting. Nature of Accounting, History or Origin of Accounting. This is for ABM (Accountancy, Business and Management) Students, or Students who are taking up business and accounting program. Accounting is a service activity to provide quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions. Fra Luca Pacioli is acknowledge as the father of modern accounting because of this. His “Summa de Arithmetica, Geometria, Proportioni et Proportionalita” ( Everything about Arithmetic, Geometry and Proportion) is the first book printed with a treatise in bookkeeping. Bulla (plural Bullae) found in Mesopotamia. Experts consider this stage of record keeping the beginning of the art of writing. The original bulla was a lump of clay molded around a cord and stamped with a seal. Once the clay has dried, the container (such as a vase or money bag) cannot be violated without visible damage to the bulla, thereby ensuring the contents remain tamper-proof until they reach their destination.
Meaning of accounting: It is not possible for human beings to remember all events which occur at different times and at different places. But for solving day-to-day financial problems, knowledge of past and present economic activities become necessary. In other words, whenever any transaction involves any monetary dealings, 'counting'.The term accounting' has originated from the concept of 'counting'.The need of communicating information and presenting a clear picture of the financial transactions led to the emergence of Accounting.
What is 21st Century Literature? What are the different formats used by today's writers? Why should it be studied by senior high school students? I used these slides in one of our class discussions. I hope this could help senior high school teachers teaching literature.
As for the video, you may go to YouTube and look for Juan Miguel Severo's Ito na ang Huling Tulang Isusulat ko Para Sayo.
FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1.pptxRoseBantiyan
HISTORY OF ACCOUNTING Accounting started as a simple recording of repetitive exchanges. The history of accounting is often seen as indistinguishable from the history of finance and business. It has evolved in response to various social and economic needs of men over 5,000 years- its origins can be tracked back to the beginning of time.
- ANO ANG TEKSTONG DESKRIPTIBO?
- LAYUNIN AT KAHALAGAHAN
- PARAAN NG PAGLALARAWAN
- URI NG PAGLALARAWAN
- APAT NA MAHALAGANG KASANGKAPAN NA GINAGAMIT SA MALINAW NA PAGLALARAWAN
- HALIMBAWA
Touring the Universe (An Introduction to Formation of the Universe)
I hope this lesson can shed light to SHS Grade 11 Science Teachers. My appeal to those who will download this ppt. please email me at marileahmendina08@gmail.com for my own references. I would be glad to hear from you.
Lesson in Introduction to Philosophy of Human Person
"Join me on my YouTube channel for more insightful topics! Don't forget to hit the subscribe button and share with your friends to stay updated on all the latest content!"
https://www.youtube.com/@JehnSimon
This slide is all about Introduction to Accounting. Nature of Accounting, History or Origin of Accounting. This is for ABM (Accountancy, Business and Management) Students, or Students who are taking up business and accounting program. Accounting is a service activity to provide quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions. Fra Luca Pacioli is acknowledge as the father of modern accounting because of this. His “Summa de Arithmetica, Geometria, Proportioni et Proportionalita” ( Everything about Arithmetic, Geometry and Proportion) is the first book printed with a treatise in bookkeeping. Bulla (plural Bullae) found in Mesopotamia. Experts consider this stage of record keeping the beginning of the art of writing. The original bulla was a lump of clay molded around a cord and stamped with a seal. Once the clay has dried, the container (such as a vase or money bag) cannot be violated without visible damage to the bulla, thereby ensuring the contents remain tamper-proof until they reach their destination.
Meaning of accounting: It is not possible for human beings to remember all events which occur at different times and at different places. But for solving day-to-day financial problems, knowledge of past and present economic activities become necessary. In other words, whenever any transaction involves any monetary dealings, 'counting'.The term accounting' has originated from the concept of 'counting'.The need of communicating information and presenting a clear picture of the financial transactions led to the emergence of Accounting.
introduction of Accounting- history Accounting- Meaning of Accounting Definition of Accounting - Indian Accounting History - Dr and Cr - basic Accounting
Naim Wakil is one of the most well-known and intelligent chief accountants of the Angel Trust of Los Angeles, California. He has completed his master’s degree in Business Administration from the University of California and started his career working with a leading company 'Skyland finance Inc.' His keen interest in mathematics and detail-oriented aspect made him a successful accountant.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
3. Accounting
It is a service activity to
provide quantitative
information, primarily
financial in nature, about
economic entities that is
intended to be useful in
making economic
decisions.
(Statement of Financial Accounting Standard No.1,”Basic
Concepts and Accounting Principles Underlying Financial
Stataments of Business Enterprises” (Manila: Accounting
Standard Council, 1983), par.1)
By: Lucy Marcos Blanco, LPT
4. Accounting
Is an information system that
measures, processes and
communicate financial
information about economic
entity.
(Statement of Financial Accounting Standard No.1,”Basic
Concepts and Accounting Principles Underlying Financial
Stataments of Business Enterprises” (Norwalk, Conn.:
Financial Standards Board, 1978), par.9)
By: Lucy Marcos Blanco, LPT
5. Accounting
Is the process of identifying, measuring and
communicating economic information to permit
informed judgements and decisions by users of the
information.
(American Accounting Association, ”A statement of Basic Accounting Theory” (Evanston, III.: American
Accounting Association, 1966), par 1)
By: Lucy Marcos Blanco, LPT
6. Accounting
It is an art of recording, classifying, and
summarizing in a significant manner and in terms of
money, transactions and events which are, in part at
least, of a financial character, and interpreting the
results thereof
(American Institute of Certified Public Accountants (AICPA) ,”Review and Resume”,
Accounting Terminology Bulletin No. 1 (New York AICPA,1953), Par 9)
By: Lucy Marcos Blanco, LPT
7. Nature of Accounting
Accounting is a Process
Accounting is an Art
Accounting deals with Financial
information
Accounting is a means and not end
Accounting is an Information System
By: Lucy Marcos Blanco, LPT
8. Accounting is a Process
A process is composed of multiple steps
that lead to a common end goal.
By: Lucy Marcos Blanco, LPT
9. Accounting is an Art
It entails creativity and skills to help us
attain some objectives. Accounting is
the art of recording, classifying,
summarizing, and finalizing financial
data.
By: Lucy Marcos Blanco, LPT
10. Accounting deals with Financial
Information
These are the only events identified by
the accountant, recorded in the books
and communicated to different parties.
By: Lucy Marcos Blanco, LPT
11. Accounting is a means and not
an end
Accounting is a tool to achieve specific
objectives. It is not the objective itself.
By: Lucy Marcos Blanco, LPT
12. Accounting is an information
system.
Accounting is recognized and
characterized as a storehouse of
information. As a service function, it
collects processes and communicates
financial information of any entity.
By: Lucy Marcos Blanco, LPT
14. History of Accounting
It is believed that the history of accounting is
thousands of years old and can even be
traced to ancient civilizations. A number of
history books suggest that the early
development of accounting can be dated
back to ancient Mesopotamia.
By: Lucy Marcos Blanco, LPT
15. During those times, people followed a
system of writing and counting money. The
development of accounting may be related
to the taxation and trading activities of
temples.
By: Lucy Marcos Blanco, LPT
16. Accounting and Its Environment
Brief History
I. Early development in Mesopotamia
• People followed a system of writing and counting
money. The development of accounting may be
related to the taxation and trading activities of temples.
Bulla (plural Bullae) found in Mesopotamia. Experts
consider this stage of record keeping the beginning of the
art of writing.
The original bulla was a lump of clay molded around a cord and
stamped with a seal. Once the clay has dried, the container
(such as a vase or money bag) cannot be violated without
visible damage to the bulla, thereby ensuring the contents
remain tamper-proof until they reach their destination
By: Lucy Marcos Blanco, LPT
17. Accounting and Its Environment
Brief History
II. Development in the Roman Empire
• The reign of Emperor Augustus (63BC-14AD) provided more evidence
about the development of accounting.
• The Roman government kept detailed financial information of the deed of
Emperor Augustus regarding the stewardship of Roman resources.
• Roman historian Suetonius and Cassius Dio recorded that in 23BC,
Augustus prepared rationarium (account) which listed public revenues, the
amounts of cash in the aerarium (treasury), in the provincial fisci (tax
officials), and in the hands of the publican (public contractors); and that it
included the names of the freedmen and slaves from whom a detailed
account could be obtained.
By: Lucy Marcos Blanco, LPT
18. Accounting and Its Environment
Brief History
III. Dissemination of double-entry bookkeeping the 14th
century Italy
• Most important event in accounting history
• Luca Pacioli is acknowledged as the father
of modern accounting because of this. His
“Summa de Arithmetica,
Geometria,Proportioni et Proportionalita”
(Everything about Arithmetic, Geometry
and Proportion) is the first book printed
with a treatise on bookkeeping.
By: Lucy Marcos Blanco, LPT
19. Accounting and Its Environment
Brief History
IV. Signing of charter by Queen Victoria
V. Formation of accounting standards
such PAS and PFRS
• The modern profession of the chartered accountant
originated in Scotland in the 19th century when Queen
Victoria granted a royal charter to the Institute of
Accountants in Glasgow.
By: Lucy Marcos Blanco, LPT
62. INTRODUCTION
A business is an organization that converts inputs
or resources such as material, labor, and overhead
into outputs which are usually either goods or
services. In this chapter, we will discuss the different
types of business according to activities, their
business requirements, and their advantages and
disadvantages.
By: Lucy Marcos Blanco, LPT
63. Three major types of business:
1. Service companies
2. Merchandising companies
3. Manufacturing companies
By: Lucy Marcos Blanco, LPT
64. SERVICE COMPANIES
Service companies are firms that
generally use their employees to
provide intangible products or
services to customers. These services
include professional skills, advice,
expertise, and other related products.
(e.g. accounting firms, law firms, and dry
cleaning establishments, etc. )
By: Lucy Marcos Blanco, LPT
65. Operating Cycle of Service Companies
Cash on
hand
Performs
Services
Pays
employe
es and
other
expenses
Receives
payment
from
customers
By: Lucy Marcos Blanco, LPT
66. MERCHANDISING COMPANIES
• Merchandising companies sell tangible
products. This type of business buys
finished or almost finished goods from their
suppliers and resell the same to customers.
• Primarily earn revenues from the sale of the
goods of merchandise, also known as sales
revenue or sales.
By: Lucy Marcos Blanco, LPT
67. THERE ARE TWO TYPES OF MERCHANDISING COMPANIES:
• Retailer is a merchandising
company that sells goods
directly to customers.
• Wholesaler is a
merchandising company
that sells goods to retailers.
By: Lucy Marcos Blanco, LPT
68. Operating Cycle of Merchandising Companies
Cash on
hand
Sells
inventory
Buy
goods
Receives
payment
from
customers
Stores
goods as
inventory
By: Lucy Marcos Blanco, LPT
69. MANUFACTURING COMPANIES
• Manufacturing companies or simply
manufacturers, buy materials, convert
them into products, and then sell the
products to other companies or to the
final consumers.
By: Lucy Marcos Blanco, LPT
70. Operating Cycle of Manufacturing Companies
Cash on
hand
Stores
finished
goods as
inventory
Pays for
inputs
(materials,
labor,
overhead)
Receives
payment
From
customers
Converts
inputs
into
finished
goods
Sell
inventory
By: Lucy Marcos Blanco, LPT
71. Type of Business According
to Activities
Advantages Disadvantages
Service
Absence of inventory
No production facilities
Inability to standardize
services
Maintaining human capital
Merchandising
Visible products
Less conversion, time,
and effort
Managing inventory
Manufacturing
Quality control
Visible products
Generally needs
production facilities
High conversion costs
Cost of quality control
Managing inventory
By: Lucy Marcos Blanco, LPT
Archaeologist (traced as far back as 8500 BC) have established for certain clay tokens (cones, disks, spheres and pellets) which represented commodities such as sheep, jugs of oil, bread or clothing. These tokens were often sealed in clay balls called bullae which were broken on delivery so the shipment could be checked against the invoice.
Bulla is considered as the first bill of lading.
His treatise reflected the practices of Venice at the time. Therefore, he did not invent double-entry bookkeeping, but rather described what were prevalent accounting practices of the day.
He stated that the purpose of bookkeeping was to give the trader without delay information as to his assets and liabilities. Pacioli also advised the computation of periodic profit and closing of books. He said “It is always good to close the books each year, especially if you are in partnership with others. Frequent accounting makes for long friendship”