Table of Contents Accounting Concepts and policies…………………………………………………………….. 3 – 7 Relevance of accounting concepts and policies on financial report…………….. 7 – 10 Discount allowed and received………………………………………………………………… 11 – 13 Difference between carriage inwards and carriage outwards……………………. 11 – 13 Differences between straight line and reducing balance methods……………… 11 – 13 References……………………………………………………………………………………………… 14 - 16 Introduction Accounting Concepts and Principles These are rules and
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Chapter 1: Overview—The Financial Statements Chapter 1 introduces the four financial statements--Income Statement‚ Statement of Retained Earnings‚ Balance Sheet‚ and Statement of Cash Flows. Accounting as the language of business is discussed along with an introduction of the various users of accounting information. Financial and Managerial accounting are compared. The four ways to organize a business – proprietorship‚ partnership‚ limited – liability company‚ and corporation‚ are discussed
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Accounting Equation Paper Student Course Date Instructor Accounting Equation Paper The accounting equation which we know as Assets equals to Liabilities plus Equity for a sole proprietorship and for a corporation we know it as Assets equals to liabilities plus stockholders & equity. Assets are company owned‚ liabilities are what company owes and the difference between the both of them is the owner’s equity‚ these three things are what the companies
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I Brief Contents 3 Chapter 1 Introducing Financial Accounting Chapter 2 Constructing Financial Statements Chapter 3 Adjusting Accounts for Financial Statements Chapter 4 Reporting and Analyzing Cash Flows Chapter 5 Analyzing and Interpreting Financial Statements Chapter 6 Reporting and Analyzing Revenues and Receivables Chapter 7 Reporting and Analyzing Inventory Chapter 8 Reporting and Analyzing Long-Term Operating Assets
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2008 Investing activities: a. involve day to day events like selling goods and services‚ which occur when running a business. b. involve the buying or selling of land‚ buildings‚ equipment‚ and other longer-term investments. c. only involve financial exchanges. d. All of these. Accumulated depreciation: a. is an expense account. b. is a liability account. c. is a regular asset account. d. is an asset contra-account. At the end of last year‚ the company’s assets totaled $860‚000 and
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Accounting Equation Paper ACC 300 Accounting Equation The accounting equation is the basis of double entry accounting. The equation places debits and credits on each side of the equation with a balance on each side being required. The debits are accounted for as assets‚ while the credits fall under liabilities and shareholder equity. (Kimmel‚ Weygandt‚ and Kieso‚ 2011) The equation looks like: Assets = Liabilities + Shareholder Equity. A system of journal entries that show a debit and credit for
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Accounting For Managers Handbook © University of Bedfordshire 2013 Published by the University of Bedfordshire Business School Luton Campus‚ Vicarage Street‚ Luton LU1 3JU‚ United Kingdom Unit Handbook © University of Bedfordshire 2013 Welcome Welcome to the Accounting For Leaders unit of the University of Bedfordshire MBA Programme. This handbook contains all of the advice and information you need to successfully complete your work on this unit. It should be read in conjunction with the
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advertising expense would be found on which financial statements‚ respectively balance sheet and income statement (Yes. Accounts receivable will be on the balance sheet and the advertising expenses on the income statement) 2. How does financial accounting differ from managerial accounting managerial accounting deals with internal reporting and financial deals with internal reporting (Yes. Managerial accounting deals with internal reporting and financial accounting deals with external entities) 3. What
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FINANCIAL ACCOUNTING I COURSE DESCRIPTION/OBJECTIVES The primary aim of Financial Accounting is to provide students with an introduction to the process and function of financial reporting. Whilst a large proportion of the course is aimed at understanding accounting as a process‚ taking a preparers‟ perspective‚ we will also seek to develop an understanding of the importance of the role of accounting in today’s society. LEARNING OUTCOMES After studying this course the student will be able to understand:
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B6013 Spring 2010 B6013 - Financial Accounting Financial Assets and Liabilities Shareholder’s Equity Professor Urooj Khan o esso U ooj a Outline – Session 19 1. Financial Assets and Liabilities – Accounting for Financial Assets 2. Shareholder’s Equity – – – – Capital Stock Cisco Case Dividends and Share Repurchases Comprehensive I C h i Income B6013 Spring 2010 © Columbia Business School 2 Prof. Urooj Khan 1 B6013 Spring 2010 Background Readings and Practice Problems
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