西方财务会计0.ppt
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Losses
The Accounting Equation
• The accounting equation displays that all assets are either financed by borrowing money or paying with the money of the company’s stockholders.
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Depicts the ways cash has changed during a designated period of time.
Overnight Auto Service p44
• Business entity: Overnight Auto Service
• Accounting policies:
– Prepare formal financial statements
On Jan 21, McBryan and his family invested $8,000 in Overnight Auto Service and received
Notes redceeivbatbsle that 10,000
Accounts receivable 60,500
Srueppplrieessent negat2i,v00e0
Notes payable Accounts payable Salaries payable
$ 41,000 36,000 3,000
$ 41,000 36,000 3,000
the assets of the Land
Building
100,000
Total liabilities
90,000 Owners' Equity:
$ 80,000
business. Office equipment
15,000 Capital stock
100,000
Total liabilities $ 80,000
Building
90,000 Owners' Equity:
Office equipment
15,000 Capital stock
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
$ 22,500 Liabilities:
Noterserepcreeivasbelents th1e0,000
Accounts receivable 60,500
Soupwplniesers’ claims 2o,0n00
Notes payable Accounts payable Salaries payable
Objectivity Principle
Liabilities
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Liabilities are Cash
Assets
Liabilities & Owners' Equity
$ 22,500 Liabili源自文库ies:
A Starting Point: Statement
of Financial Position
Vagabond Travel Agency
Heading(p39)
Balance Sheet
December 31, 2007
Assets
Liabilities & Owners' Equity
Cash
70,000
Total
$ 300,000 Total
$ 300,000
Owners’ Equity
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Owners’ equity Cash
Assets
Liabilities & Owners' Equity
produce the products for sale)
Assets
Cost Principle
Stable-Dollar Assumption
These accounting principles support cost as the basis for asset valuation.
Going-Concern Assumption
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
Owners’ Equity
Changes in Owners’ Equity
•Owners’ Investments
•Business Earnings
•Payments to Owners •Business
Building
90,000 Owners' Equity
Office equipment
15,000 Capital stock
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
P41 Your Turn
• Would there be any different motivation when you report the value of your home to the city assessor, when comparing with when reporting to the potential buyers?
We will use a corporation to describe these statements.
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Describes where the enterprise stands at a specific date.
800 shares of stock.
Cash
Overnight Auto Service
Balance Sheet
January 20, 2009
Assets
Owners' Equity
$ 8,000 Capital Stock
$
8,000
Total
$ 8,000 Total
$ 8,000
On Jan 20, Overnight Auto Service purchased the land for $52 000 cash.
Cash Land
Overnight Auto Service
Balance Sheet
January 20, 2009
Assets
Owners' Equity
$ 28,000 Capital Stock
$ 80,000
52,000
Total
$ 80,000 Total
$ 80,000
On Jan 22, Overnight purchased the abandoned bus garage for $36 000. Overnight made a cash down payment of $6 000 and issued a 90-day non- interest –bearing note payable for the $30 000 balance owned.
Intangible (like in the form of valuable rights)
Directly converted into cash ( collection of receivables)
Indirectly – used in operating the business to create other assets that result in positive cash flows (used to
future cash flows Land
Building
100,000
Total liabilities
90,000 Owners' Equity:
$ 80,000
Offfoicre etqhueipmeenntterpri1s5,e00.0 Capital stock
150,000
Retained earnings
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Depicts the revenue and expenses for a designated period of time.
10,000 eNcootensopamyaibclereso$ur4c1,e00s0
Accounts receivable Supplies
60,500 2,000
AStachclaaorutienastsprpaeayyaoabbwlelened
by 36,000 3,000
Land Building Office equipment
• Assets = Liabilities + Owners’ Equity
What things the business owns
Who supplied these resources to the business and how much each group supplied
The Accounting Equation
$ 300,000 Total
$ 300,000
operations.
Assets
Assets
Resources
Generate Positive Cash Flows (Cash Inflows)
A summary of p40
Tangible (have physical existence)
$ 22,500 Liabilities:
Notes receivable
10,000 Notes payable
$ 41,000
Accounts receivable 60,500 Accounts payable
36,000
Supplies
2,000 Salaries payable
3,000
Land
Chapter 2 Basic Financial Statements
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Three primary financial
statements.
Assets =VaLgiaabboinlidtieTrsav+el AOgwennceyrs’ Equity
Balance Sheet
$300,A0s0s0ets= D$e8ce0m,0b0e0r 3+1L,i2a0b0il7i$tie2s2&0,O0w00ners' Equity
Cash
$ 22,500 Liabilities:
Body (p39)
Assets
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Assets Cash Notes receivable
Assets are Liabilities & Owners' Equity
$ 22,500 Liabilities:
100,000 tThoteal bliaubsiliitniesess $an80d,000
90,000 15,000
OCwanapeirtraes'l Esetqoxucipktye: cted 1t5o0,000
Total
Retabineend eeafrintinfgusture70,000
Notes receivable
10,000 Notes payable
$ 41,000
Accounts receivable 60,500 Accounts payable
36,000
Supplies
2,000 Salaries payable
3,000
Land
100,000
Total liabilities $ 80,000
The Accounting Equation
• The accounting equation displays that all assets are either financed by borrowing money or paying with the money of the company’s stockholders.
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Depicts the ways cash has changed during a designated period of time.
Overnight Auto Service p44
• Business entity: Overnight Auto Service
• Accounting policies:
– Prepare formal financial statements
On Jan 21, McBryan and his family invested $8,000 in Overnight Auto Service and received
Notes redceeivbatbsle that 10,000
Accounts receivable 60,500
Srueppplrieessent negat2i,v00e0
Notes payable Accounts payable Salaries payable
$ 41,000 36,000 3,000
$ 41,000 36,000 3,000
the assets of the Land
Building
100,000
Total liabilities
90,000 Owners' Equity:
$ 80,000
business. Office equipment
15,000 Capital stock
100,000
Total liabilities $ 80,000
Building
90,000 Owners' Equity:
Office equipment
15,000 Capital stock
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
$ 22,500 Liabilities:
Noterserepcreeivasbelents th1e0,000
Accounts receivable 60,500
Soupwplniesers’ claims 2o,0n00
Notes payable Accounts payable Salaries payable
Objectivity Principle
Liabilities
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Liabilities are Cash
Assets
Liabilities & Owners' Equity
$ 22,500 Liabili源自文库ies:
A Starting Point: Statement
of Financial Position
Vagabond Travel Agency
Heading(p39)
Balance Sheet
December 31, 2007
Assets
Liabilities & Owners' Equity
Cash
70,000
Total
$ 300,000 Total
$ 300,000
Owners’ Equity
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Owners’ equity Cash
Assets
Liabilities & Owners' Equity
produce the products for sale)
Assets
Cost Principle
Stable-Dollar Assumption
These accounting principles support cost as the basis for asset valuation.
Going-Concern Assumption
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
Owners’ Equity
Changes in Owners’ Equity
•Owners’ Investments
•Business Earnings
•Payments to Owners •Business
Building
90,000 Owners' Equity
Office equipment
15,000 Capital stock
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
P41 Your Turn
• Would there be any different motivation when you report the value of your home to the city assessor, when comparing with when reporting to the potential buyers?
We will use a corporation to describe these statements.
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Describes where the enterprise stands at a specific date.
800 shares of stock.
Cash
Overnight Auto Service
Balance Sheet
January 20, 2009
Assets
Owners' Equity
$ 8,000 Capital Stock
$
8,000
Total
$ 8,000 Total
$ 8,000
On Jan 20, Overnight Auto Service purchased the land for $52 000 cash.
Cash Land
Overnight Auto Service
Balance Sheet
January 20, 2009
Assets
Owners' Equity
$ 28,000 Capital Stock
$ 80,000
52,000
Total
$ 80,000 Total
$ 80,000
On Jan 22, Overnight purchased the abandoned bus garage for $36 000. Overnight made a cash down payment of $6 000 and issued a 90-day non- interest –bearing note payable for the $30 000 balance owned.
Intangible (like in the form of valuable rights)
Directly converted into cash ( collection of receivables)
Indirectly – used in operating the business to create other assets that result in positive cash flows (used to
future cash flows Land
Building
100,000
Total liabilities
90,000 Owners' Equity:
$ 80,000
Offfoicre etqhueipmeenntterpri1s5,e00.0 Capital stock
150,000
Retained earnings
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Depicts the revenue and expenses for a designated period of time.
10,000 eNcootensopamyaibclereso$ur4c1,e00s0
Accounts receivable Supplies
60,500 2,000
AStachclaaorutienastsprpaeayyaoabbwlelened
by 36,000 3,000
Land Building Office equipment
• Assets = Liabilities + Owners’ Equity
What things the business owns
Who supplied these resources to the business and how much each group supplied
The Accounting Equation
$ 300,000 Total
$ 300,000
operations.
Assets
Assets
Resources
Generate Positive Cash Flows (Cash Inflows)
A summary of p40
Tangible (have physical existence)
$ 22,500 Liabilities:
Notes receivable
10,000 Notes payable
$ 41,000
Accounts receivable 60,500 Accounts payable
36,000
Supplies
2,000 Salaries payable
3,000
Land
Chapter 2 Basic Financial Statements
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Three primary financial
statements.
Assets =VaLgiaabboinlidtieTrsav+el AOgwennceyrs’ Equity
Balance Sheet
$300,A0s0s0ets= D$e8ce0m,0b0e0r 3+1L,i2a0b0il7i$tie2s2&0,O0w00ners' Equity
Cash
$ 22,500 Liabilities:
Body (p39)
Assets
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Assets Cash Notes receivable
Assets are Liabilities & Owners' Equity
$ 22,500 Liabilities:
100,000 tThoteal bliaubsiliitniesess $an80d,000
90,000 15,000
OCwanapeirtraes'l Esetqoxucipktye: cted 1t5o0,000
Total
Retabineend eeafrintinfgusture70,000
Notes receivable
10,000 Notes payable
$ 41,000
Accounts receivable 60,500 Accounts payable
36,000
Supplies
2,000 Salaries payable
3,000
Land
100,000
Total liabilities $ 80,000