Introduction to the Accounting Equation. From the large, multi-national corporation down to the corner beauty salon, every business transaction will have an effect on a company's financial position.
Accounting equation which states that at any point of time the assets of any entity must be equal (in monetary terms) to the total of equities. In other words,
The accounting equation is also the balance sheet (one of the four financial statements). In these videos, I focus on the accounting terms and accounting principles: accounting, financial reports, decision makers, the four financial statements, types of accounting (financial versus managerial
Accounting Equation. Double entry is recorded in a manner that the accounting equation is always in balance: Assets = Liabilities + Equity. Assets of an entity may be financed either by external borrowing (i.e. Liabilities) or from internal sources of finance such as share capital and retained
The fundamental accounting equation: Assets = Liabilities + Equity, is the basis for all financial accounting measurements.
PRINCIPLES OF FINANCIAL ACCOUNTING This test is an introduction to the field of financial accounting. It covers the accounting cycle, merchandising concerns, and financial assets as well plant assets, liabilities and stockholders’ equity.
ASSUMPTIONS AND PRINCIPLES BASIC ACCOUNTING EQUATION(Chapter 2) ADJUSTING ENTRIES(Chapter 3) Note: 1. Each adjusting entry will affect one or more income statement
As part of an accounting information system, generally accepted accounting principles (GAAP) are followed. These principles outline how accounting is handled properly in a business.
Build-A-Bear Workshop, Inc. today reported results for the 2014 second quarter and twenty-six weeks ended June 28, 2014.
This lesson will enable you to define the accounting equation and understand all variable elements. For more information about online lessons, click here.
Basic Accounting Principles from Entrepreneur.com Most businesses typically use one of two basic accounting methods in their bookkeeping systems: cash basis and accrual basis.
Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) are shown to govern the standards, practices, and reporting of accounting information. The accounting equation, transactions, and financial statements (and their relationship to each other) are discussed.