Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 20 views

    ACCOUNTiNG PPT For DEMO

    Uploaded by

    JINKY TOLENTINO
    This document defines key accounting and financial terms like accounting, financial statements, balance sheets, and income statements. It explains that accounting records and classifies financial transactions and events in terms of money. A financial statement shows a business's financial activities and performance through an income statement, which reports revenues, expenses and profits over time, and a balance sheet, which provides a snapshot of a business's assets, liabilities and equity at a point in time. Key elements of both statements are defined, such as the three elements that make up a balance sheet (assets, liabilities, capital) and income statement (revenues, expenses, net profit). Common types of assets and liabilities are also outlined.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    ACCOUNTiNG PPT For DEMO

    Uploaded by

    JINKY TOLENTINO
    20 views15 pages
    This document defines key accounting and financial terms like accounting, financial statements, balance sheets, and income statements. It explains that accounting records and classifies financial transactions and events in terms of money. A financial statement shows a business's financial activities and performance through an income statement, which reports revenues, expenses and profits over time, and a balance sheet, which provides a snapshot of a business's assets, liabilities and equity at a point in time. Key elements of both statements are defined, such as the three elements that make up a balance sheet (assets, liabilities, capital) and income statement (revenues, expenses, net profit). Common types of assets and liabilities are also outlined.

    Original Description:

    accounting demo

    Original Title

    ACCOUNTiNG-PPT-for-DEMO (1)

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document defines key accounting and financial terms like accounting, financial statements, balance sheets, and income statements. It explains that accounting records and classifies financial transactions and events in terms of money. A financial statement shows a business's financial activities and performance through an income statement, which reports revenues, expenses and profits over time, and a balance sheet, which provides a snapshot of a business's assets, liabilities and equity at a point in time. Key elements of both statements are defined, such as the three elements that make up a balance sheet (assets, liabilities, capital) and income statement (revenues, expenses, net profit). Common types of assets and liabilities are also outlined.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    20 views15 pages

    ACCOUNTiNG PPT For DEMO

    Uploaded by

    JINKY TOLENTINO
    This document defines key accounting and financial terms like accounting, financial statements, balance sheets, and income statements. It explains that accounting records and classifies financial transactions and events in terms of money. A financial statement shows a business's financial activities and performance through an income statement, which reports revenues, expenses and profits over time, and a balance sheet, which provides a snapshot of a business's assets, liabilities and equity at a point in time. Key elements of both statements are defined, such as the three elements that make up a balance sheet (assets, liabilities, capital) and income statement (revenues, expenses, net profit). Common types of assets and liabilities are also outlined.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 15

    accounting

    Accounting -is the art of recording,


    classifying, summarizing, in
    significant manner, and in terms of
    money, transactions and events which
    are in part, at least, of financial
    character and interpreting the results
    thereof.
    What is a Financial Statement ?

    A financial statement is a report that


    shows the financial activities and
    performance of a business. It is used by
    lenders and investors to check a business
    financial health and earnings potential.
    Understanding Financial Statements

    It's important for the small business owner to


    understand these 2 basic types of financial
    statements and the information they provide for the
    investor or creditor interested in providing funds for
    your business.

    Both individually and taken together, these financial


    statements give a potential investor or creditor a
    wealth of information and can have a serious impact
    on your business's ability to obtain the funds or
    financing it needs.
    2 basic types of FINANCIAL
    STATEMENTS

    1. Income Statement


    2. Balance Sheet
    3 elements of balance sheet

    Asset
    Liability
    Capital

    3 elements of income statement


    Revenues/sales
    Expenses
    Net profit
    ASSET-economic resources
    owned by the company.
    2 kinds of assets
    a. Current Assets assets which can be converted
    -

    into cash within a short period of time.


    ex..
    • cash
    • accounts receivable
    • merchandise inventory
    • marketable securities
    • prepaid expanses
    B.FIXED ASSETS -assets used in the
    operation of the business
    Land
    Building
    Furniture and
    fixtures
    Machinery and
    equipment
    Plant
    Computers
    LIABILITIES -debts or obligations of the
    company to third parties
    Notes payable
    Accounts payable
    Interest payable
    Taxes payable
    Salaries payable
    Loans payable
    Bonds payable
    Mortgage payable
    Capital-amount of money
    invested by the owner to his
    business.
    Income Statement

    The income statement is important financial statement for


    business. It provides users with a picture of the business's
    financial performance over a specific period of time.

    Also known as a statement of revenue and expense, or a profit


    and loss statement (P&L), the income statement is a statement
    of earnings that shows a business's operating and
    nonoperating revenue and expenses.

    Like the balance sheet, the information contained in an income


    statement is used in financial statement analysis to calculate
    financial ratios that provide users with further insight into a
    business's financial performance.
    8
    1. Balance Sheet
    Also known as a statement of financial
    position, or a statement of net worth, the
    balance sheet is one of the four important
    financial statements every business needs.

    Based on the basic accounting equation, or


    balance sheet equation [Assets = Liabilities +
    Equity], the balance sheet provides a snapshot
    of a business's assets, liabilities, and equity.

    It also provides users with a look at the


    business's financial position at a specific point
    in time.
    END
    THANK YOU!

    You might also like