TAILIEUCHUNG - Lecture College accounting (13/e): Chapter 2 - Price, Haddock, Farina

Chapter 2 - Analyzing business transactions. After reading this chapter, you should be able to: Record in equation form the financial effects of a business transaction; define, identify, and understand the relationship between asset, liability, and owner’s equity accounts; analyze the effects of business transactions on a firm’s assets, liabilities, and owner’s equity and record these effects in accounting equation form; prepare an income statement. | 1- McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Analyzing Business Transactions Section 1: Property and Financial Interest Chapter 2 Section Objectives 1. Record in equation form the financial effects of a business transaction. 2. Define, identify, and understand the relationship between asset, liability, and owner’s equity accounts. Steps to analyze the effect of a business transaction 1. Describe the financial event. Identify the property. Identify who owns the property. Determine the amount of increase or decrease. 2. Make sure the equation is in balance. Property (asset) = Financial Interest (creditors and owners) QUESTION: What are assets? Assets are property owned by a business. ANSWER: Define, identify, and understand the relationship between asset, liability, and owner’s equity accounts Assets, Liabilities, and Owner’s Equity Objective 2 QUESTION: What are liabilities? Liabilities are debts or obligations of a business .

• Kế toán - Kiểm toán
• Analyzing business transactions
• College accounting
• Lecture College accounting
• Financial statement
• Cost accounting
• Financial interest
• Introduction to business
• Business systems
• Environment of business
• Business enterprise
• Business essentials
• Analyzing transactions
• Accounting and business
• Sarbanes oxley
• Internal control
• Merchandising businesses
• Limited liability companies
• Lecture Accounting principles
• Bài giảng Nguyên lý kế toán
• Transactions affect owner's equity account
• Operating a business
• Received cash from sales
• Principles of accounting
• The financial statements
• Measuring business income
• Merchandising operations
• Contributed capital
• Financial accounting
• Closing entries
• Financial reporting
• Managerial accounting
• Accounting information
• Financial statements
• Completing the accounting cycle
• T accounts