accounting the language of business n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Accounting—The Language of Business PowerPoint Presentation
Download Presentation
Accounting—The Language of Business

Loading in 2 Seconds...

play fullscreen
1 / 7

Accounting—The Language of Business - PowerPoint PPT Presentation


  • 118 Views
  • Uploaded on

Accounting—The Language of Business. Lecture Presentation 1-1 Starting a Proprietorship: Changes that affect the accounting equation. Learning Objectives.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Accounting—The Language of Business' - ceana


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
accounting the language of business

Accounting—The Language of Business

Lecture Presentation

1-1

Starting a Proprietorship: Changes that affect the accounting equation

learning objectives
Learning Objectives

Define and identifyaccounting terms and concepts related to starting a service business organized as a proprietorship and to changes that affect the accounting equation.

Classify accounts as assets, liabilities, or owner’s equity and demonstrate their relationships in the accounting equation.

what is accounting pg 6
What is Accounting? Pg. 6

Accounting =

Accounting System=

Accounting Records=

Financial Statements =

a few more concepts pg 6
A Few More Concepts: Pg. 6

Service Business =

Proprietorship=

Business Entity=

the accounting equation pg 8
The Accounting Equation: Pg. 8
  • Assets=
  • Equities = Financial rights to the ________ of a business…There are two types
    • Liabilities= (bought some supplies on credit)
    • Owner’s Equity=
    • So the Accounting Equation is…
  • _______ = ____________ + ____________
  • The Accounting Equation must ________ be in balance
term review audit understanding
Term Review & Audit Understanding

Accounting

Accounting System

Accounting Records

Service Business

Proprietorship

Asset

Equities

Liability

Owner’s Equity

Accounting Equation

What is accounting?

Give two examples of a service business.

What is a proprietorship?

State the accounting equation.

work together on your own
Work Together/On Your Own
  • Page 9…Work Together 1-1
  • Page 9…On Your Own 1-1
  • Page 19…
    • Application Problem 1-1
  • Page 7…
    • Business Structures
    • Answer Critical Thinking 1 & 2 on a piece of notebook paper (Save this paper to answer the rest of your questions for sections 1-2 and 1-3)
  • Page 9…
    • Read Character Counts
    • Discuss in Class