100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
FMA Financial Accounting summary Y1 Q1Q2 $4.34   Add to cart

Summary

FMA Financial Accounting summary Y1 Q1Q2

4 reviews
 186 views  13 purchases
  • Course
  • Institution
  • Book

Summary of the book Financial Accounting of the course Financial & Management Accounting I. Y1 semester 1. Custom edition from Avans hogeschool, ISBN 9781308572185. Includes slides from classes.

Preview 2 out of 15  pages

  • Unknown
  • January 7, 2019
  • 15
  • 2018/2019
  • Summary

4  reviews

review-writer-avatar

By: ValentijnvanWalsum • 3 year ago

review-writer-avatar

By: cool-amir • 4 year ago

review-writer-avatar

By: rikkorevaar • 4 year ago

review-writer-avatar

By: baskorll • 4 year ago

avatar-seller
Financial Accounting summary
Chapter 1: financial statements and business decisions

Internal decision makers  managers (management accounting)
External decision makers  stockholders and creditors (financial accounting)

The accounting system collects and processes financial information about an
organization and reports that information to decision makers.




Golden rule of accounting = basic accounting equitation = balance sheet equitation

, The 4 basic financial statements
1. Balance sheet: report the economic resources a company owns, and the
sources of financing for those sources.
2. Income statement: company’s ability to sell goods for more than their cost to
produce and sell.
3. Statement of stockholders’ equity: company’s additional contributions or
payments to investors, and the amount of income the company reinvested for
future growth.
4. Statement of cash flows: company reports its ability to generate cash and how
it was used.

Before you start, ALWAYS make up the heading with those 4 items:
1. Name of entity (Coca-Cola)
2. Title of statement (Balance sheet)
3. Specific date of statement (At December 31, 2012)
4. Unit of measure (in millions of dollars)

Balance sheet
Balance sheet = reports the amount of assets, liabilities and stockholders’ equity of
an accounting entity at a point in time.
Accounting entity = the organization for which financial data is collected.

Assets Liabilities
Short-term Short-term
Cash Accounts payable
Short-term investment Accrued expenses
Accounts receivable Notes payable
Notes receivable Taxes payable
Inventory (to be sold) Unearned revenue
Prepaid expenses Long-term
Supplies Long-term loans (5-20 years)
Long-term Mortgage (bank financed your

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 suzanneglas1. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $4.34. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80467 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
$4.34  13x  sold
  • (4)
  Add to cart