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Summary Chapter 2 ~ Financial and managerial accounting 18th edition $3.77
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  2.  
  3. Hogeschool Rotterdam (HR)
  4.  
  5. Finance and Accounding (IBMBU116R1)

Summary

Summary Chapter 2 ~ Financial and managerial accounting 18th edition

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 3 purchases
  • Course
  • Finance and Accounding (IBMBU116R1)
  • Institution
  • Hogeschool Rotterdam (HR)
  • Book
  • Financial and Managerial Accounting 18e ed

Samenvatting is afkomstig van 'Financial and managerial accounting 18th edition'. Geschreven door Jan R. Williams, Susan F. Haka, Mark S. Bettner, Joseph V. Carcello. De samenvatting is geordend per paragraaf met afbeeldingen uit het boek en de uitleg in puntjes beschreven. Formules worden duide...

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Document information

  • No
  • Chapter 2
  • August 19, 2018
  • 5
  • 2017/2018
  • Summary

Subjects

  • ibms
  • ibl
  • rbs
  • ibmbu116r1
  • finance and accounting
  • fa
  • financial and managerial accounting 18th edition
  • international business management studies
  • chapter 2 financial and managerial accounting 18th edition

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  • Hogeschool Rotterdam (HR)
  • International Business and Management Studies
  • Finance and Accounding (IBMBU116R1)
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Content preview

Financing and Accountng Block 1 Chapter 2 Summery

Financial statements A financial statement is a representaton ifa the financial
situaton ofa an enterprise.
Primary fnancial statements  Balance sheet (or statement ofa financial positonn
 Income statement (or profitt loss statement
 Statement ofa cash fows
Balance sheet Balance sheet describes in financial terms where the
enterprise stands at a specific date


Balance sheet:
 Many profaessionals accountng shif to key positon in management or organisaton
 They are invaluable because works contnuously with issues defined and described I
accountng
A=L+ OE

Assets Are economic recourse that are owned by the Assets  activa
business and are expected to benefit it in the Liabilities  passiva
fauture Owner’s equity  eigen
Liabilites Are debts that need to be paid. They represent
vermogen
fauture negatve cash fows
Owners’ equity Is the owners’ original investment in a business
and accumulated profits over the years


Assets: Liabilites:
- Cash - accounts payable
- Accounts Receivable - notes payable
- Inventory - Salaries Payable
- Supplies - Interest Payable
- Prepaid Rent - Income Tax Payable
- Prepaid Insurance
- Equipment Owners’equity:
- Building - capital stock
- Land - retained earnings




Increases in owners’ equity Decrease in owners’ equity
Soleproprietorship eenmanszaak
Investments ofa cash by  Payments ofa cash to owners
Partnership Vennootschap (vof)
owners  losses
Corporation NV/BV
 profits

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