100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Class notes Financial Accounting (BACC152) $7.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. Humber College ( )
  4.  
  5. Event Management
  6.  
  7. Financial Accounting (BACC152)

Class notes

Class notes Financial Accounting (BACC152)

 9 views  0 purchase
  • Course
  • Financial Accounting (BACC152)
  • Institution
  • Humber College ( )

Financial accounting may seem difficult but with these notes, you will have a better understanding. This document goes over what accounting is, the rules of accounting, and the different types of accounts. You will also learn a whole new set of terms that will surely help you in your own class.

Preview 1 out of 2  pages

Document information

  • August 22, 2022
  • 2
  • 2021/2022
  • Class notes
  • Nicole chuchmach
  • Bacc 152

Subjects

  • financial accounting
  • finance
  • accounting
  • debits and credits
  • credits
  • debits
  • business
  • business entity principle
  • cost constraint principle
  • going concern principle
  • generally accepted accounting principles

Written for

  • Humber College ( )
  • Event Management
  • Financial Accounting (BACC152)
All documents for this subject (4)

Seller

avatar-seller
kelliyahsmall

Content preview

Introduction to Financial Accounting

BACC 152
Humber College




What is accounting?

 Identifying
 Recording
 Communicating

Information and measurement system that identifies, records, and communicates relevant,
reliable, and comparable information about business activities in economic terms




Generally Accepted Accounting Principles (GAAP)

Refer to a common set of accounting principles, standards, and procedures issued by the
Financial Accounting Standard Board (FASB)


1. Business entity principle

Hospitality business and the owner are two separate “entities”
What does the business attempt to do
What does the owner attempt to do


Types of hospitality organizations
Sole proprietorship
● Hospitality business is owned by one person
● Unlimited liability (assume all risk)

Partnership
● Hospitality business is owned by two or more people (referred to as partners)

Corporation

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller kelliyahsmall. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75759 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.99
  • (0)
  Add to cart