1000 account #’s Assets 2000 account #’s Liabilities 3000 account #’s Equity 4000 account #’s Income 5000 account #’s Expense J& B Things you Own Cash,

Slides:

Advertisements

Similar presentations

Financial Records & Statements Ch PoB 2011.

Advertisements

4-1 Balance Sheet: Assets Cash A/R Inventories Total CA Gross FA Less: Dep. Net FA Total Assets , ,160 1,287,360 1,926,802 1,202, ,160.

Basic Accounting Concepts

Balance Sheets Assets = Liabilities + Owner’s Equity.

The Accounting Equation n Property: anything of value that is owned –cash and supplies to conduct daily business –can be used to acquire other assets (supplies)

McClaren Corporation Income Statement For the Year Ended June 30, 2008 Revenue Sale Revenue $100,000 Sale Revenue $100,000 Total Sales Revenue 100,000.

4.01 Understand financial planning..  Assets: what the company owns  Liabilities: what the company owes  Owner’s Equity: value of owner’s investment.

Financial Aspects of a Business Plan

Analyzing & Recording Business Transactions

16-1. Money Management Basics $100 probably seems like a lot of money to you now. In the future you will have more expenses Food, housing, insurance,

Personal Financial Statements Ch PoB  Money Management – refers to the day-to-day financial activities associated with using limited income.

SHORT-TERM FINANCIAL PLANNING. Scope of Short-Term Planning Focus on current assets and liabilities- items that within a year translate into cash Net.

Section 36.2 Financial Aspects of a Business Plan

FINANCIAL RESOURCES MANAGEMENT

Money, Money, Money, Money Apparel Development 2 Objective 4.01 Financial Reports.

LESSON 12-2 Financial Records and Financial Statements

Accounting How much money did a business make in a year? How much money did a business make in a year? How much can a business afford to spend on a new.

Stock Market Analysis and Personal Finance Mr. Bernstein Personal Financial Statement, pp February 19, 2015.

Managing Business Finance

Section 1Organizing Financial Records Budgeting How do your spending options fit: Day-to-day financial activities necessary to get the most from one’s.

Balance Sheets Analyzing Assets, Liabilities, & Equity.

Stock Market Analysis and Personal Finance Mr. Bernstein The Three Primary Financial Statements September 2015.

Financial Puzzle FINANCIAL STATEMENTS By PresenterMedia.com PresenterMedia.com.

Apply procedures for preparing corporate financial statements.

Role of Accounting Records 1.Establishing accountability for the assets and or transactions under an individual’s control. 2.Keeping track of routine business.

Business Technology Mr. Bernstein Greene, pp : Pro Forma Financial Statements December 4, 2013.

Written by Ruby Ann Sawyer, Brantley County Middle School.

© South-Western Educational Publishing Chapter 8 Budgets and Financial Records Budgeting and Record Keeping Filing Systems Budget: Keeping track of income.

Essential Standard 4.00 Understanding the role of finance in business. 1.

Introduction to Hotel Accounting by Esther Lau, Controller

UNIT C ECONOMIC FOUNDATIONS AND FINANCING 6.01 Compare records used in business.

Buying equipment with Cash 1 Equipment (Asset) Cash (Asset) + - Debit Credit Debit Credit.

BUSINESS TRANSACTIONS AND THE ACCOUNTING EQUATION Chapter 3.

Entrepreneurship Mr. Bernstein Financial Record Keeping, pp December 12, 2014.

Introduction to Accounting

Chart of Accounts.

Understand a financial statement. Objective 2.02.

Balance Sheet Audited Active 114, ,666 Current Assets 103, ,673 Fix Assets 218, ,339 Total Passive 93,705 77,844.

Objective 4.01 Understanding Financial Management. 1.

MEASURING THE FINANCIAL POSITION OF A PERSON “WHO IS BETTER OFF???” Introduction to Personal Finance.

Financial Statement Basics BDI3C. Major Financial Statements  Balance Sheet Individual: Net Worth Statement  Income Statement  Cashflow Statement.

Understanding Feasibility & Accessing Information Mile Markers 3 & 4 (4.02)

Chapter 16 The Financial Plan. Copyright © Houghton Mifflin Company16-2 Overview Estimating sales and capital expenditures Preparing the pro forma income.

J0704-Business Plan Financial Pro Forma Session

The Accounting Equation During 2007, Total Liabilities for XYZ Inc. increased $60,000 and Total Assets increased by $50,000. What changes must have occurred.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 18-1 Understanding Cash Flow Analysis.

Preparing Financial Documents The Income Statement & Balance Sheet.

INCOME STATEMENT Also known as the P & L statement is the only financial statement that enables a business to look at its PROFIT over a period of time.

The Balance Sheet. What is a Balance Sheet? A financial statement that shows the company’s assets, liabilities, and net worth (also known as equity) on.

1. »Are vital because a business cannot exist without cash flow »Focus on the following: –creating up-to-date, accurate financial statements –making a.

Introduction to Accounting. What is accounting? The system of recording and summarizing ______________ ___________and analyzing, verifying, and reporting.

Personal Financial Statements Chapter 12 Personal Financial Statements The Balance Sheet.

PREPARE THE FOUR FINANCIAL STATEMENTS 1. INCOME STATEMENT 2. RETAINED EARNINGS STATEMENT 3. BALANCE SHEET 4. CASH FLOW STATEMENT.

1 Chapter 9: Accounting Basic Accounting Concepts Businesses engage in activities that concentrate on financial worth, such as money, spending, expenses,

© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 12 SLIDE Financial Records and Financial Statements 12.

FINANCIAL RESOURCES MANAGEMENT

Financial Management. Purpose of Financial Reports Financial Reports – Summarize financial data over a given period of time (shows if the company made.

ALP101-G ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES.

October 21,  The purpose of accounting is to provide the necessary financial information so that accurate and timely decisions can be made.

> > > > Understanding Financial Statements. Balance Sheet What is a Balance Sheet? A statement that shows –(1) How much money a company has –(2) How much.

4.04 Statement of Cash Flows

POB 4.01 Part 3 – Income Statements & Balance Sheets

FINANCIAL PERFORMANCE

Income Statement Farwell Company has the following information available from its most recent fiscal year. Use the relevant information to determine the.

FINANCIAL PERFORMANCE

FINANCIAL PERFORMANCE

Financial Records and Financial Statements

Financial Statements.

FINANCIAL PERFORMANCE

Presentation transcript:

1000 account #’s Assets 2000 account #’s Liabilities 3000 account #’s Equity 4000 account #’s Income 5000 account #’s Expense J& B Things you Own Cash, Inventory Building, property Things you Owe Mortgage, bills, dues/fees to MI, Sales Tax, Payroll tax Net Value of Unit What’s left after paying bills Money you collect that belongs to you Sales, Dues, donations to the unit Money you spend to operate your unit COGS, utilities, supplies, postage, printing

Things you Own Things you Owe Net Value

Money You Collect Money You Spend

Things you Own Things you Owe Net Value

Money You Collect Money You Spend