SCHOOL OF FOREIGN LANGUAGES FOR ECONOMICS

Designed by Bui My Ngoc

Bui My Ngoc (MBA) FOR INTERNAL USE

Mobile: 0903846785 09.2016
Bui My Ngoc (MBA)
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It is a systematic process of identifying, recording, measuring,
classifying, verifying, summarizing, interpreting and communicating
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financial information. It reveals profit or loss for a given period, and
the value and nature of a firm's assets, liabilities and owners' equity.
Government accounting refers to the field of accounting that
specifically finds application in the public sector or government. 
Financial accounting is the process of recording, summarizing and
reporting the myriad of transactions resulting from business
operations over a period of time. These transactions are summarized
in the preparation of financial statements, including the balance
sheet, income statement and cash flow statement.
Public Accounting is a process of auditing financial statements,
designing financial accounting systems, assisting in the
managerial accounting function, providing managerial advisory
services, and tax preparation.
Fiduciary accounting is a brand of accounting including the entire
process wherein a fiduciary—normally a personal representative,
trustee or guardian—communicates information on an ongoing basis
regarding the financial administration of a fund to the parties in interest
and, perhaps, to a court.
 Tax accounting is the accounting process that focuses on tax
issues including filing tax returns and planning for future tax
responsibilities.
Creative accounting consists of accounting practices that follow required
laws and regulations, but deviate from what those standards intend to
accomplish. Creative accounting capitalizes on loopholes in the accounting
standards to falsely portray a better image of the company.
Financial statements are a collection of reports about an organization's
financial results, financial condition, and cash flows.
 khoản thu còn nợ

khấu hao lũy kế

The income statement reports revenues, expenses, and the
resulting net income.
The retained earnings statement shows the retained
earnings at the beginning and end of the accounting period.
The cash flow statement explains the reasons for changes in the cash
balance, showing sources and uses of cash in the operating, financing, and
investing activities of the firm. 
CASE STUDY 1

HOW TRANSACTIONS IMPACT THE

ACCOUNTING EQUATION?
EDELWEISS COLLECTS AN ACCOUNT RECEIVABLE:  If Edelweiss Corporation
collected $10,000 from a customer on an existing account receivable (i.e., not a new
sale, just the collection of an amount that is due from some previous transaction), then
the balance sheet would be revised as follows:
EDELWEISS BUYS EQUIPMENT WITH LOAN PROCEEDS:  Now, if  Edelweiss
Corporation purchased $30,000 of equipment, agreeing to pay for it later (i.e. taking out
a loan), then the balance sheet would be further revised as follows:
EDELWEISS PROVIDES SERVICES TO A CUSTOMER ON ACCOUNT:  What would
happen if Edelweiss Corporation did some work for a customer in exchange for the
customer's promise to pay $5,000?  When Edelweiss Corporation earned $5,000 (which
they will collect later) by providing a service to a customer, it can be said that they
generated revenue of $5,000.
EDELWEISS PAYS EXPENSES WITH CASH:  It would be nice if you could run a
business without incurring any expenses.  However, such is not the case.  Expenses are
the outflows and obligations that arise from producing goods and services. Imagine that
Example Corporation paid $3,000 for expenses:
CASE STUDY 1

EXPLAIN HOW TRANSACTIONS IMPACT

OTHER FINACIAL STATEMENTS
Bui My Ngoc (MBA)
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Bui My Ngoc (MBA)
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Bui My Ngoc (MBA)
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 Cost accounting

Tax accounting

auditing

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 Accounting

Managerial or management accounting

Creative accounting
Bookkeeping

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 C A
B

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 Calculate liabilities
Calculate taxes
Keep records
Pay liabilities
Pay taxes
Receive income
Record expenditure
Record income
Record transactions
Value assets
Value liabilities

Bui My Ngoc (MBA)

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Bui My Ngoc (MBA)
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Bui My Ngoc (MBA)
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Bui My Ngoc (MBA)
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 Total Assets, and Total Liabilities &
Share holders’ Equity.
 Share holders’ Equity
 Intangibles
 Additional Paid-In Capital
 Accrued Expenses
 Total Receivables
 Accounts Payable
 Prepaid Expenses
 Retained Earnings $ 1,404.11 million (Prepaid Expenses)
 Property/plant/ Equipment
 Good Will
 Total Liabilities
The capital the share holders have paid into the company (Common
Stock + Additional Paid-in Capital + Other Equity) = $ 14,677.24 million ,
which is greater than the Retained Earnings (13,56.63 million)

The money Google owed at the balance sheet date was $2,302.09
million (Total Current Liabilities), which is less than what it was owed:
$2,642.19 million (Total Receivables, net)
 Shareholders’ equity

Intangibles

Additional Paid-in Capital

Accrued Expenses
Total receivables

Account payables
Prepaid expenses
Retained earnings
Property/ plant/equipment

Goodwill
Total liabilities

Bui My Ngoc (MBA)

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Bui My Ngoc (MBA)
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1. Research and development, people and an airport runway.
2. The difference between what a company is worth at the beginning and the
end of a year.
3.. Because you don’t know how long the airport will operate for, or how
many planes will land on the runway.
4. A reduction in the value of an asset, charged against profit every year.

Bui My Ngoc (MBA)

Mobile: 0903846785
Bui My Ngoc (MBA)
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 Interest Income Net
Research & Development
Cost of Revenue

Selling/General/ Administrative Expenses

Bui My Ngoc (MBA)

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Bui My Ngoc (MBA)
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Bui My Ngoc (MBA)
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Bui My Ngoc (MBA)
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Bui My Ngoc (MBA)
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Th.S BÙI MỸ NGỌC
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