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Summary Account and Finance - Final Revision notes
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In depth summary of Accounting and Finance from Cass Business School, complete with necessary topics, equations and examples.
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SMM444 Essentials of Finance and Accounting: WP, KESMM444 Essentials of Finance and Accounting
1. Concepts of accounting and financial statements
2. Accrual-based accounting, earnings management
3. Capital market phenomena
4. Ratio analyses
5. Investment appraisal methods
6. Budgets
Debits Credits
Assets Liabilities
Draw Equities
Expenses Revenue
Debits = credits
Balance Sheet Accounts
Assets
Liabilities
Equities
Income Statement Accounts
Revenue
Expenses
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, SMM444 Essentials of Finance and Accounting: WP, KE
Lecture 1: Introduction to Accounting
Definitions
Stakeholder Group or individual who can affect/ is affected by achievement of
organisation’s objectives
Assets Resource held by a business
Claims Obligation of the business to provide cash/ benefit to outside party
Equity Claim of owners (invested by owners)
Liability Claim of creditors (borrowed from creditors)
Types of Accounting
Qualities that affect the usefulness of accounting info
• Fundamental
o Relevance - predictive value, confirmatory value
o Faithful representation - completeness, neutrality, freedom from error
• Enhancing – comparability, timeliness, verifiability, understandability
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