Professional Documents
Culture Documents
Bookkeeping
Bookkeeping
PRAYER
CHECKING OF
ATTENDANCE
ACCOUNTING
An art of RECORDING,CLASSIFYING,
SUMMARIZING in significant manner in
terms of money, transactions and
events which are part atleast of a
financial character and
INTERPRETING the results thereof.
BOOKKEEPING
Recording of business data in
prescribed manner.
2 PROFESSIONS OF ACCOUNTANCY
Private Accounting-it offers
accounting and related services for
a fee to company, organization and
to the general public.
Public Accounting-it offers
accounting and related services to
the general public.
SPECIALIZED ACCOUNTING FIELDS
- General of Financial Accounting
- Auditing
- Management Accounting
- Cost Accounting
- Tax Accounting
- Accounting System
- Budgetary Accounting
- International Accounting
- Not-for-Profit Accounting
- Social Accounting
- Accounting Instruction
- Forensic Accounting
FORMS OF BUSINESS ORGANIZATION
1. Sole Proprietorship
2. Partnership
3. Corporation
4. Cooperative
ACTIVITIES PERFORM BY BUS. ORG.
1. Service Accounting
2. Merchandising Accounting
3. Manufacturing Accounting
Major Classification of Accounts
1. ASSETS
2. LIABILITIES
3. CAPITAL
4. REVENUE
5. EXPENSES
ASSETS
Cash
Accounts Receivable
Notes Receivable
Merchandise Inventories
Supplies
Prepaid Expenses
Accumulated Depreciation
Equipment
Furniture and Fixtures
Automobile
Truck
Building
Land
LIABILITIES
Accounts Payable
Notes Payable
Salaries Payable
Unearned Rent
Mortgage Payable
CAPITAL
XYZ, Capital
XYZ, Personal/Drawing
REVENUE
Service Income
Professional Fees
Sales
Sales Return and Allowances
Sales Discount
EXPENSES
Rent Expense
Salaries Expense
Insurance Expense
Utilities Expense
Freight-In/Freight-Out/Delivery Expense/
Trans-In/Trans-Out
Miscellaneous Expense
Purchases
Purchase Discount
Purchase Return and Allowances
Cost of Goods Sold
Depreciation Expenses
ACCOUNTING EQUATION
Nov. 1 Her initial investment to start the business 38,000 cash and office equipment
of 25,000 as its value.
18 received payment in full from Dela Cruz Co. for work completed on Nov. 8.
28 Gazmen withdrew 3000 cash from the business to pay personal expenses.