Difference between revisions of "College Accounting: A Practical Approach by Slater (13th edition)"
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==Chapter 1. Accounting Concepts and Procedures== | ==Chapter 1. Accounting Concepts and Procedures== | ||
*[[Accounting]]. A system that measures the business' activities in financial terms, provides written reports and financial statements about those activities, and communicates these reports to decision makers and others. | *[[Accounting]]. A system that measures the business' activities in financial terms, provides written reports and financial statements about those activities, and communicates these reports to decision makers and others. | ||
| + | *[[Sole proprietorship]]. A type of business organization that has one owner. This owner is personally liable for paying the business' debt. | ||
| + | *[[Partnership]]. | ||
| + | *[[Corporation]]. | ||
| + | *[[Limited Liability Company]]. | ||
| + | *[[Service company]]. | ||
| + | *[[Merchandise company]]. | ||
| + | *[[Manufacturer]]. | ||
| + | *[[Generally accepted accounting principles]]. | ||
| + | *[[International Financial Reporting Standards]]. | ||
| + | *[[Bookkeeping]]. | ||
| + | *[[Assets]]. | ||
| + | *[[Liabilities]]. | ||
| + | *[[Creditor]]. | ||
| + | *[[Owner's equity]]. | ||
| + | *[[Basic accounting equation]]. | ||
| + | *[[Capital]]. | ||
| + | *[[Supplies]]. | ||
| + | *[[Shift in assets]]. | ||
| + | *[[Account payable]]. | ||
| + | *[[Balance sheet]]. | ||
| + | *[[Cash basis]]. | ||
| + | *[[Accrual basis]]. | ||
| + | *[[Revenue]]. | ||
| + | *[[Account receivable]]. | ||
| + | *[[Expense]]. | ||
| + | *[[Net income]]. | ||
| + | *[[Net loss]]. | ||
| + | *[[Withdrawal]]. | ||
| + | *[[Expanded accounting equation]]. | ||
| + | *[[Income statement]]. | ||
| + | *[[Statement of owner's equity]]. | ||
| + | *[[Ending capital]]. | ||
Revision as of 15:25, 12 November 2018
Chapter 1. Accounting Concepts and Procedures
- Accounting. A system that measures the business' activities in financial terms, provides written reports and financial statements about those activities, and communicates these reports to decision makers and others.
- Sole proprietorship. A type of business organization that has one owner. This owner is personally liable for paying the business' debt.
- Partnership.
- Corporation.
- Limited Liability Company.
- Service company.
- Merchandise company.
- Manufacturer.
- Generally accepted accounting principles.
- International Financial Reporting Standards.
- Bookkeeping.
- Assets.
- Liabilities.
- Creditor.
- Owner's equity.
- Basic accounting equation.
- Capital.
- Supplies.
- Shift in assets.
- Account payable.
- Balance sheet.
- Cash basis.
- Accrual basis.
- Revenue.
- Account receivable.
- Expense.
- Net income.
- Net loss.
- Withdrawal.
- Expanded accounting equation.
- Income statement.
- Statement of owner's equity.
- Ending capital.
