Summary
Summary Everything you need for Bookkeping
- Course
- Institution
Based on the course of the best university in Germany, TUM, this summary contains everything tou need for Bookkeping
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Book-KeepingCompany
Types of economic units
Public budget
Private person
Enterprise
o Company
Functional term: company is deemed to exist if a legal or natural
person in entrepreneurially planning and operating
Institutional term: company requires a commercial activity in the
economy and a minimum level of institutional means
o Public authorities and administrations
AG = Aktiengesellschaft
GmbH = Gesellschaft mit beschränkter Haftung
KGaA = Kommanditgesellschaft auf Aktien
OHG = Offene Handelsgesellschaft
OBS: From an economic point of view every company is a “person”
How does money get into the company?
Capital investment becomes equity capital (usually made by owners)
In-kind investment is the addition of assets
Who is authorized to open a commercial account?
Managing director
, Forms of capital
Equity capital (provided by owner)
Debt capital (provided by creditor)
o Banks
o Suppliers
o Private
Accounting equation
Assets = liabilities + capital
9000 CU from owner’s account
1000 CU from gramma’s gift
1000 CU loan from parents
Assets
Fixed assets
o Assets that should serve the company for a long term (more than one year)
Current assets
o Serve the company for a short term (less than one year)
In-kind investment of 4000 CU worth machines and tools
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