Assets In accounting, term are used to describe things.The amount of the resources supplied by the owner is called capital.The actual resources in the.

Slides:

Advertisements

Similar presentations

Double Entry System DR CR.

Advertisements

Double entry system 複式會計. Double entry system Enter Transaction( 交易 ) twice( 兩次 ) in two accounts Debit = Credit Debit (Dr.) Credit (Cr.)

Accounting Equation Chapter 5 Accounting Equation 1.

The Accounts of the General Ledger

1 BOOK KEEPING I LECTURE 1. 2 Aims of the Lecture What is Accounting and the purpose of Accounting. What is Accounting and the purpose of Accounting.

 Property  Property Rights  Financial Claims  Credit  Creditor  Assets  Investments  Equity  Owner’s Equity  Liabilities  Business Transaction.

Double-entry accounting. Introduction Every financial accounting transaction must be recorded twice in the accounts of a business: it must have one debit.

Introduction to Accounting Book keeping Accounting This is a process of detailed recording of all the financial transaction of a business. Each financial.

Reading a Balance Sheet And an Income and Expense Statement And a Cash Flow Analysis Viv Grigg, some txt from Ankush85.

3. 24 Understanding a balance sheet Aims and Objectives Part 2 Basic principles of a balance sheet  Most businesses borrow money to help them to.

PPTs to accompany Accounting and Bookkeeping Principles and Practice by AAT & David Willis  2011 McGraw-Hill Australia Pty Ltd CHAPTER 15 Profit accounts,

References： Chapter 7 to 10 (P )

ASSETS, LIABILITIES, AND OWNER’S EQUITY MANAGEMENT INFORMATION SYSTEMS II - FINANCIALS.

The balance sheet Fred Wenstøp. 2 Assets Things owned by the business 100 Liabilities Amounts owed by the business 100 Assets Where money is spent 100.

The Balance Sheet “a statement of financial position”

THE ENTERPRISE ZONE SKILL BUILD BASIC BUSINESS ACCOUNTING JIM MOULD TEACHING FELLOW SHEFFIELD UNIVERSITY MANAGEMENT SCHOOL MARCH 2010.

Transactions Every single activity in a business that involves money needs to be recorded. Something of value is received. Something of value given. TRANASACTION.

Principles of Accounts Introduction to The Accounting Equation What is the accounting.

ACCOUNTING BASIC TERMS. ASSETS These are economic resources of an enterprise that can be usefully expressed in monetary terms. Assets are things of value.

Balance sheet Business Studies.

Balance sheet as at 01/04/11 $000$000$000 Fixed assets 500 Current assets: Stock 50 Debtors 150 Cash

Home. Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting Key Terms property financial claim credit creditor Section.

Introduction to Double Entry Accounting (複式簿記)

Principles of Accounts Form Four. What is accounting The uses to which data recorded by bookkeeping can be put for various purposes. Recording accounting.

GCSE Business Finance - Balance Sheets (Part 1). Learning Objective To understand what a balance sheet is.

In Accounting, An Itemized Statement Of What One Owns, What One Owes, and What One Is Worth Is Called A:

Double Entry Accounting System DRCR One day, you bought a new handphone Nokia 8310… You also received an invoice from M1…

FINAL ACCOUNTS Trading Account – shows Gross Profit Profit and Loss Account – shows Net Profit Balance Sheet – shows what the business owns and owes and.

Accounting 11 Unit 1 – Financial Position and the Balance Sheet.

Chart of Accounts.

ACT 110 Is EASY POP! I STILL BELIEVE Because, The Presence of Faith does not mean the Absence of Doubt!

The Balance Sheet Made easy How to set out a Balance Sheet. Use with the ‘best selling guide’.

Balance Sheet. A Balance Sheet Is a statement of a firms assets, liabilities and share capital on a particular date.

Preparing Financial Documents The Income Statement & Balance Sheet.

Balance Sheets IB BUSINESS Unit 3.5.

Balance Sheet Greg Grange. Assets Current Assets Current Assets  Definition: A resource controlled by the entity as a result of past events from which.

Balance Sheet A final statement which list all the Assets and the Liabilities of the business on a specified date. A final statement which list all the.

List of words used in balance sheets. 1.Non Current Assets 2.Current assets 3.Stock 4.Debtors 5.Cash 6.Current liabilities 7.Creditors 8.Net assets 9.Equity.

ACC 113 – Seminar Accrual Accounting Concepts. Accrual Accounting Transactions are recorded as they occur and thus affect the accounting equation (assets,

ACT 110 Is EASY POP! Our Confession Because, Excellence is my Style!

Double Entry System 3 DRCR FINANCIAL STATEMENTS.

We will learn today: What a Balance Sheet is How to define Assets and Liabilities How to Make it BALANCE !

CURRENT LIABILITIES VISION ELECTRONICS Provision for Tax4050 Deposits from Directors25 Outstanding expenses88 Dividend payable810 Gratuity fund4550.

Revision of Accounting Concepts Important Accounting Concepts Accounting Equation.

BALANCE SHEET. Starter – DON’T LOOK IN BOOKS !!! What does a Trading, Profit and Loss Account show? What does an Appropriation Account show? How is it.

Business & Administration Accounting Basics An overview of general bookkeeping practices and accounting terminology - Aisha Ahmed.

9.2 - PART A PREPARING FINANCIAL STATEMENTS THE BALANCE SHEET BBI 2O Name:

Balance Sheets “The balance sheet is an accounting statement that shows an organisation’s ASSETS (what the business owns) and LIABILITIES (what the business.

Advanced Financial Accounting FIN-611 Mian Ahmad Farhan Lecture-3 Single Entry (Conversion Method)

Accounting Principles Quiz. The Accounting Equation is A. Assets = Capital +Liabilities B. Assets = Capital -Liabilities C. Assets + Capital =Liabilities.

Advanced Financial Accounting FIN-611 Mian Ahmad Farhan Lecture-4 Single Entry.

Reading a Balance Sheet

Accounting Equation Mr. Chan starts a business The owner.

Final Accounts with Adjustments HL only

Introduction to the Balance Sheet

Lecture 03 Classification of Accounts

Introduction to the Balance Sheet

Accounting Equation.

Accounting process.

Final accounts – Key Words

KIMBWETA FINANCIAL STATEMENT.

ACCOUNTING EQUATION.

Trial Balance As On January 31, 20--

LIABILITIES AND EQUITIES

The Accounting Equation

Balance sheet Business Studies.

Advanced Financial Accounting FIN-611

Introduction to Accounting and Business

CHAPTER 42 FINAL ACCOUNTS 3

Solution Beta (Private) Limited Balance Sheet As At June 30, 2002

Presentation transcript:

Assets In accounting, term are used to describe things.The amount of the resources supplied by the owner is called capital.The actual resources in the business are called assets.This means that when the owner has supplied all of the resources,the accounting equation can be shown as: Assets=Capital

Usually,someone other than the owner has supplied some of the assets.Liabilities is the name given to the amount owing to these people for these assets. The equation has now changed to: Assets=Capital+Liabilities

Fixed Assets What are Fixed Assets? Examples are Land, Buildings, Furniture, Fixtures and Fittings, Office Equipment, Motor Vehicles, and Machinery.

Current Assets What are Current Assets? Examples are Stock, Debtors, Bank, Cash, Accrued Income, Prepayments, and Petty Cash.

Question 1 Which is an example of Fixed Assets? Cash Machinery

Question 2 Assets=? Capital –Liabilities Capital+Liabilities

Question 3 Which is not an example of assets? Debtors Creditors Stock of goods

Question4 Which is an example of Current Assets? Stock Furniture

Yeah….you are right!! Return to question 2

Yeah….you are right!! Return to question 3

Yeah….you are right!! Return to question 4

Yeah….you are right!! finish

O….. Sorry,you are wrong!! Return to question 2

O….. Sorry,you are wrong!! Return to question 3

O….. Sorry,you are wrong!! Return to the question4

O….. Sorry,you are wrong!! finish

~END~

組員名單 : 黃敏慧曹敏婷陳可怡鍾凱琪羅沛雯