OPPapers.com Essay Index >> Miscellaneous >> Financial Accounting Overview
We have many free term papers and essays on Financial Accounting Overview. We also have a wide variety of research papers and book reports available to you for free. You can browse our collection of term papers or use our search engine.
Accounting Overview. Both Managerial Accountants and Financial Accountants produce
reports and information explicit to their position within their company. ...
Financial Accounting Overview. Financial Accounting Zusammenfassung 1. Semster
I. Begriffe Balance sheet (Bilanz): Describes where ...
... Business Owners January 29, 2007 Accounting: Overview for Small ... business owners with
no accounting or finance ... purposes and natures of financial statements and ...
... Overview of Accounting This presentation is to give information to a group of
small business owners with no accounting or financial knowledge. ...
Accounting overview. ... to understand the relationship between economics and accounting
and finance. ... Business owners and financial managers must understand the ...
Submitted by corinna2508 on November 2, 2007
Category: Miscellaneous
Words: 1095 | Pages: 5
Views: 293
Popularity Rank: 33,209
Average Member Grade: N/A (Add a Comment / Grade this Paper)
Financial Accounting Zusammenfassung 1. Semster
I. Begriffe
Balance sheet (Bilanz): Describes where the enterprise stands at a specific date.“Snapshot“ of the business.
Looking like:
Income statement: Depicts the revenues and expenses for a designated period of time.
Looking like:
It is used to summarize the operating results of a business by matching the revenue earned during a given period of time with the expenses incurred in generating that revenue.
Statement of cash flows: Depicts the ways cash has changed during a designated period of time.
Looking like:
Assets: Economic resources that are owed by the business and are expected to provide positive future cash flow.
Liabilities: Debts that represent negative future cash flow for the enterprise.
OWNERS´ INVESTMENTS ARE LIABILITIES
ASSETS = LIABILITIES + OWNERS´ EQUITY
Dividends: They represent a decision of by a corporation to ditribute a portion its income to stockholders. Thus, the amount of the dividens is not included in the computation of income. A lliability account, Dividens Payable, comes into existence, when the dividend is declared and is discharged when the dividend is paid.
Journal: In an actual accounting system, transactions are initially recorded in the journal and is later transferred to the general ledger. It is a day-by-day record of business transactions.
Looking like:
Net income: Difference between revenue and expenses. Increase in owners´equity profits of the business
Retained earnings: the rest of the net income which is left for company´s usage. It belongs to the owner (shareholders). It is the portion of owners´equity created by earning net income and retaining (=behalten, bewahren) the related resources in the business. The resources are not limited on cash! Increases...
You must Login to view the entire paper.
If you are not a member yet, Sign Up for free!