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Chapter 8 Accounts Receivable

Chapter 8 Accounts Receivable

Chapter 8 Accounts Receivable Receivables » refers to amounts due from individuals and companies. » are frequently classified as: Accounts receivable Notes receivable Other receivables » represents the amount due from the sale of goods or services to a customer.

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Balance Sheet

Balance Sheet

Balance Sheet . Assets Business Equipment $15,000 Less Depreciation (4,500) Total Assets $10,500.

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Balance Sheet

Balance Sheet

Balance Sheet. Damona Doye OSU Extension Economist damona.doye@okstate.edu 405-744-9836. Financial Statements. Cash flow statement Cash income Cash expenses. Balance sheet Assets Liabilities Net worth (owner equity). Income statement Cash income Cash expenses Changes in assets

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BALANCE SHEET

BALANCE SHEET

BALANCE SHEET. Accounting ASW Summer 2007. Assets = Liabilities + Owners’ Equity. Net Worth Explains the components of net worth. Reason for mis-valuation. Accounting omits many assets Accounting mis-values many assets FASB/IASB know and do it intentionally. Asset Definition.

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Balance Sheet

Balance Sheet

“Old accountants never die; they just lose their balance” --Anonymous. Balance Sheet. Assets, Liabilities & Shareholders’ Equity. Assets =. Liabilities + Stockholders’ equity. The Balance Sheet. Also called the statement of condition or statement of financial position.

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Balance Sheet

Balance Sheet

Balance sheet is more similar to a preview of the money related situation of an organization at a predefined time, generally determined after each quarter, a half year or one year.

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BALANCE SHEET

BALANCE SHEET

BALANCE SHEET. STATEMENT OF FINANCIAL POSITION KEY CONCEPTS ASSETS = LIABILITIES + OWNER EQUITY ASSETS AND LIABILITIES ARE CLASSIFIED AS EITHER CURRENT OR NON-CURRENT. COST BASIS VALUES FOR ASSETS ARE NEEDED TO CORRECTLY DETERMINE ACCRUAL NET INCOME AND EARNED OWNER EQUITY

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Balance Sheet

Balance Sheet

Balance Sheet. Balance Sheet. I. http://www.investopedia.com/video/play/return-on-investment-basics.

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Balance Sheet

Balance Sheet

Balance Sheet. Income Statement. Net Income. Or. Net Loss. Debits = Credits. Contributed Capital. HELP. Departmental. Sessions. Stmt of Cash Flows.

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Balance Sheet

Balance Sheet

Balance Sheet . Financial Photo of the business – financial position at one point in time Takes on date and shos us the value of what the business has (ITS ASSETS) what it owes (ITS LIABILITIES AND CAPITAL) Will tell us if the company is financially secure

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Balance Sheet

Balance Sheet

Balance Sheet. Profit & Losses.

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