ACCOUNTING:
The Language of Business
Business Transactions
Source Documents
- Phone bills
- Store receipts
- Cheque copies
- Purchase orders
A phone bill
The Ledger
Trial Balance
T-Accounts
Debit and
Credit theory
Credits
Debits
Transaction
Analysis Sheet
GAAPs
Principle of
Conservatism
Objectivity
Principle
Cost Principle
Continuing
Concern
Concept
Business
Entity
Concept
Balance Sheets
Basic Accounting
Equation:
A = L + OE
Balance Sheet
Owner's Equity
- Sales
- Losses
- Investments
Liabilities
- Bank Loan
- Mortgage
- Accounts Payable
Assets
- Land
- Bank or Cash
- Accounts Receivable
- Supplies
- Automobile
Types of
Businesses
Not-for-profit
Merchandising
Manufacturing
Service
Forms of
Business Ownership
Corporation
Partnership
Sole Proprietorship
