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C AT E G O R I E :
Management Accounting
accounting basics
Cash Basis Accounting Accounting that records transactions only when cash is received or
paid. This methodology excludes receivables, payables and depreciation in its computation.
Chart of Accounts List of all the accounts and their account numbers in the ledger.
Current Asset An asset that is expected to be converted to cash, sold, or consumed during the
next 12 months, or within the businesss normal operating cycle.
Current Liabilities A debt due to be paid with cash or with goods and services within one year
or within the entitys operating cycle if the cycle is longer than one year.
Current Ratio Measures the ability to pay current liabilities with current assets. Therefore,
the ratio calculation is generated by dividing current assets over current liabilities.
Debt Ratio This ratio measures the ability to pay for both current and long term debts (total
liabilities). This ration is calculated by dividing total liabilities over total assets, and a lower
debt ratio is more desirable than a high figure. As a rule of thumb, a debt ratio below .60 is
considered generally safe while a debt ratio above .80 is considered risky.
Generally Accepted Accounting Principles (GAAP) Accounting guidelines formulated by the
Financial Accounting Standards Board (FASB) that govern how accountants measure, process
and communicate financial information.
Journal The chronological accounting record of an entitys transactions.
Liability An economic obligation such as a debt payable.
Liquidity Measure of how quickly an item can be converted to cash.
Matching Principle The basis for recording expenses this methodology directs accountants to
identify all expenses incurred during the period, to measure the expenses, and to match them
against the revenues earned during that same span of time.
Net Income Excess of total revenues over total expenses. Also called net earnings or net
profit.
Net Loss Excess of total expenses over total revenues.
Note Payable A written promise of future payment.
Note Receivable A written promise for future collection of cash.
Posting Copying amounts from the journal to the ledger.
Revenue Amounts earned by delivering goods or services to customers.
Transaction An event that affects the financial position of a particular entity and can be
recorded reliably.
Trial Balance A list of all accounts with their balances taken from the ledger used to ensure
that total debits equal total credits.
Unearned Revenue A liability created when a business collects cash from customers in
advance of doing work. The obligation is to provide a product or a service in the future. Also
called deferred revenue.
Financial Statements: Represent the manner in which transactions are presenting once they
have been analyzed. The four basic financial statements to become familiar with are the
income statement, balance sheet, statement of owners equity and statement of cash flow.
Income Statement: The income statement represents a summary of an entitys revenues and
expenses for a specific period of time, such as a month or a year. The income statement also
called the statement of earnings or statement of operations represents a financial picture of
business operations during the period. From a business perspective, one of the most important
pieces of information provided by the income statement is net income calculated as
revenues minus expenses. A positive net income indicates that operations for the period were
favorable while a negative net income represents an unfavorable operational position.
Statement of Owners Equity: Represents a summary of the changes that occurred in the entitys
owners equity during a specific time period, such as a month or a year. Increases to owners
equity arise from investments by the owner and from net income earned during the period.
Decreases result from owner withdrawals and from a net loss for the period. Net income or net
losses come directly from the income statement, and owner investments are capital
transactions between the business and its owner, so they do not affect the income statement.
Balance Sheet: List all of the entitys assets, liabilities and owners equity as of a specific date,
usually the end of a month or a year. The balance sheet is like a snap shot of the entity and for
this reason it is also called the statement of financial position.
Statement of Cash Flows: Reports the amount cash coming in (cash receipts) and the amount of
cash going out (cash payments, disbursements) during a period of time. The statement of cash
flows shows the net increase or net decrease in cash over a period of time and the cash
balance at the end of the period.
from ACCOUNTING REFERENCE SHEET For Auxiliary & Local Fund Budget doc
2 C O M M E N TA I R E S
by Dr Fred Barbee
The online course contains:
1.Accounting Information for Business Decisions
Publisher's PowerPoint Presentation
2. Accounting Information System
Publisher's PowerPoint Presentation
Professor: Day One
Professor: Day Two
Professor: Day Three
5 C O M M E N TA I R E S
Management Accounting
you can download PDF documents here, you have to fill a Request
Form
0 C O M M E N TA I R E S
We define a concept of evolution-invariant, discuss its usefulness, and show how the above
mentioned accounting principles can be established as such invariants.
Keywords: perils of software evolution, evolution-invariants, law governed interaction,
accounting principles.
PDF article
0 C O M M E N TA I R E S
Abstract: Estimates of materials, time, and costs provide information to some construction
decisions in a similar way that financial accounting information provides to others. Financial
statements are required to comply with generally accepted accounting principles, described in
accounting literature to ensure information is accurate and useful to decisions.
This paper suggests general estimating principles that similarly guide good estimating practice.
An estimate must be an accurate reflection of reality. An estimate should show only the level
of detail that is relevant to decisions.
Completeness requires that it include all items yet add nothing extra. Documentation must be
in a form that can be understood, checked, verified, and corrected. Attention must be given to
the distinction between direct and indirect costs and between variable and fixed costs.
Contingency covers possible or unforeseen occurrences. Both the expected value of possible
identified events and the expectation that events will occur that cannot be identified in
advance.
Keywords: estimating, principles, generally accepted, GAEP, construction, cost, cost
engineering, contingency, direct cost, indirect cost, detailed estimate, project overhead
Download PDF article
1 C O M M E N TA I R E S
Abstract
This paper investigates circumstances under which accruals are predicted to
improve earnings ability to measure firm performance, as reflected in stock
returns. The importance of accruals is hypothesized to increase (i) the shorter
the performance measurement interval, (ii) the greater the volatility of the
firms working capital requirements and investment and financing activities,
and (iii) the longer the firms operating cycle. Under each of these
circumstances, cash flows are predicted to suffer more severely from timing
and matching problems that reduce their ability to reflect firm performance.
The results of empirical tests are consistent with these predictions.
Key words: Capital markets; Accruals; Operating cycle; Timing and matching
problems;Summary measures of performance
Pdf file from Wharton School of the University of Pennsylvania
0 C O M M E N TA I R E S
This publication explains the rules for accounting periods and accounting
methods.
It contains:
Accounting Periods
Calendar Year
Fiscal Year
Short Tax Year
Accounting Improper Tax Year
Change in Tax Year
Individuals
Periods and Partnerships, S Corporations, and Personal Service Corporations
(PSCs)
Corporations (Other Than S corporations Methods and PSCs)
Accounting Methods
Cash Method
Accrual Method
Inventories
Change in Accounting Method
0 C O M M E N TA I R E S
Ready to use free Excel templates for small business bookkeeping containing a
set of spreadsheets; After entering the weekly details of receipts and payment,
The calculations and analyses will be automatically generated such as:
Cash-flow statements by week and year
The Balance Sheet
The Profit and Loss Account
Sales and Stock summaries
Drawing summary
Fixed Assets Register
Download
zantu.com is no more working
Some basic accounting lessons online from School of Business, Sun Yat-sen
University
Task Team of FUNDAMENTAL ACCOUNTING
direct link for Powerpoint and word documents:
-Lesson 1 Introduction to Accounting ppt (powerpoint ) doc (word)
-Lesson 2 Accounting Transaction and Accounting Equation ppt doc
-Lesson 3 Analyzing and Recording Accounting Transactions ppt doc
-Lesson 4 Adjusting Accounts for Financial Statement ppt doc
-Lesson 5 Completing the Accounting Cycle ppt doc
-Lesson 6 Accounting for Merchandising Activities ppt doc
-Lesson 7 Merchandise Inventories and Cost of Sales ppt doc
-Lesson 8 Accounting Information System ppt doc
-Lesson 9 Financial Statements ppt doc
-Lesson 10 Understanding and Using Financial Statements ppt doc
-Lesson 11 Understanding Accounting Principles ppt doc
-Lesson 12 Internal Control and Business Ethics ppt doc
-Lesson 13 Managerial Accounting : Concepts and Principles ppt doc
-Lesson 14 Managerial Accounting : Applications ppt doc
0 C O M M E N TA I R E S
accounting software
A good article from the site of the American Institute of Certified Public
Accountants (AICPA) who treat the problem of choosing the right accounting
software.
It contents good advices on how to select the accounting software that match
the needs of your business or comapny and things to consider when making
your choice as cost and steps to follow; It provide also a list of the most
important accounting software:
A Strategy for Finding the Right Accounting Software
By Randolph P.Johnston
0 C O M M E N TA I R E S
Contents:
Chapter 1: Introduction
Chapter 2: A Quick Primer on Using Excel
Chapter 3: A Quick Primer on Charting
Chapter 4: Statistical Analysis using Excel
Chapter 5: Financial Calculations using Excel
Chapter 6: Excel-based Business Modeling
Chapter 7: Sharing Excel Workbooks
Chapter 8: PivotTables and PivotCharts
Chapter 9: Small Business Financial Manager
Chapter 10: Building a Business Planning Workbook
Chapter 11: Building a Profit Volume and Break-even Analysis Workbook
Chapter 12: Forecasting Sales and Cost of Sales
Chapter 13: Building a Capital Budgeting Workbook
Chapter 14: Building Amortization Schedules
Chapter 15: Building Asset Depreciation Schedules
Starter Workbooks zip file working examples for chap 10 through 15
1 C O M M E N TA I R E S
10-year cash flow forecasting template (does NPV & IRR calculations)
Future value of an investment using adjustable interest rates
Future value of investment using fixed interest rate
Multifamily property real estate investment analysis template
Profit-Volume-Cost analysis template (also does breakeven analysis)
Sales and cost of goods sold forecasting template
Personal financial planning and analysis templates:
Credit card manager template (calculates payoff of balances and more)
College savings calculator template
Life insurance needs estimator template
Home affordability calculator template
Future value of a savings plan template
Retirement planning calculator template
0 C O M M E N TA I R E S
AS Accounting
Accounting Documents
Layouts and Ratios
Business Accounts
Accounting Documents
Layouts and Ratios
contents: purchase order, delivery note, goods received note, invoice, credit note statement
of account, remittance advice and cheque, three column cash book, analysed cash book
(receipts), analysed cash book (payments), petty cash book, petty cash voucher, cash analysis
sheet, double-entry accounts, journal pages, sales day book & sales returns day book,
purchases day book & purchases returns day book
MANAGEMENT DEVELOPMENT
Buying A Business
The Entrepreneurial Strategies
LEGACY
Choosing A Legal Structure
Determining Your Company's Legal Structure
Protecting Your Business with Patents, Copyrights, and Trademarks
Understanding Intellectual Property
0 C O M M E N TA I R E S
Finance
accounting software
Management
0 C O M M E N TA I R E S
free online tutorial explaining the statement of cash flows; one of the main
financial statements with balance sheet, income statement, and statement of
stockholders' equity.
Explanation of Cash Flow Statement by accountingcoach.com
Contents:
Part 1 : Changes In cash flows, Format of the statement of cash Flows, Operating Activities,
Investing Activities, Financing Activities, Balance Sheet Changes, Operating Activities
Adjustments
Part 2 : Story to Illustrate, January Transactions, February Transactions
Part 3 : March Transactions
Part 4 : April Transactions
Part 5 : May Transactions
Part 6 : Depreciation Expense, June Transactions
Part 7 : Disposal of Assets, July Transactions
0 C O M M E N TA I R E S
Marketing
-Special Topics
-General Resources
0 C O M M E N TA I R E S
Exercises content:
Worksheets exercises
Accounting Principles :
The users of accounting information
The accounting equation
Double-entry for assets and liabilities, revenues and expenses
Balancing accounts and the trial balance
Accruals and prepayments
Accounting concepts and conventions
Financial Accounting :
Control accounts & Suspense accounts
'Final Accounts' section:
Objective assessments: series of multiple-choice tests
Accounting Principles
Financial Accounting
Control accounts & Suspense accounts
Final Accounts section:
- partnership accounts
- manufacturing accounts
- societies accounts
site: Book-Keeping and Accounting Interactive Tutor
0 C O M M E N TA I R E S
What is Cash?
Liquidity, Investment and Cash Flow
Presentations
Finance and Accounts: Basic Principles
Finance and Accounts: Analysing Accounts
Worksheets & Exercices:
Cash Flow Simulation
Cash Flow Learning Trail: Revision Questions
Cash Flow - Activity
Project Management - Activity
Business Success and Failure 2 - Activity
Insolvency and Bankruptcy - Activity
Break Even Analysis Simulation - Virtual Learning Arcade
Performance Ratio Analysis Simulation - Virtual Learning Arcade
Profit and Loss Account Simulation - Virtual Learning Arcade
Investment Case Study - Virtual Bank of Biz/ed
Sources of Finance Case Study - Virtual Bank of Biz/ed
Investment Analysis Worksheet - Virtual Factory
Investment Appraisal Worksheet - TimeWeb
Between the Sheets
Accounting and Finance
Other Topics:
Low Flying Fares: An End to Cheap, No Frills? - At your Leisure
No Way to Run a Business? - At your Leisure
Business Survival - Problem Based Learning
0 C O M M E N TA I R E S
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