PPT-Financial Accounting Lesson 8: Liabilities and Present Value

Ben TrnkaBoz Bostrom wwwbenandbozcom Liabilities will differ by company and industry Overview Understand how to account for liabilities Understand how to compute future value of a single amount and an annuity. Financial Reporting mechanics. Business activities and . financial statement elements. Business . Activities. Operating. Sell products or services to generate . revenue. 1. Incur . expenses. 2. . while . A Chronicle of History . . .. January 10, 2014. Past. 1494. Luca . Pacioli. issues book introducing double-entry accounting. In . 1494, the first book on double-entry accounting was published. The author was an Italian friar, Luca . Statements. Andrew Graham. Queens University. School of Policy Studies. SPS 827 . 2015. Structure of the Day. 2. Section 1. The Accounting Cycle. 3. Double-Entry . Bookkeeping. 4. Each financial event is called a . Accounting Majors: . Senior Assessment Exam Overview. Senior Assessment Exam Purpose. Overall tool for improvement. To assess the individual student. Evaluate retention . Graduation requirement. To assess the Accounting program. Chapter 9. Copyright © 2016 McGraw-Hill Education.  All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.. Wild, Shaw, and . Chiappetta. Financial & Managerial Accounting. Financial Basics. Objectives. Introduce the basic, core concepts of financial management and accounting. Explain certain financial concepts in the context of a Habitat affiliate. Present basic accounting and financial management ideas for future reference. MYRTLE . W. CLARK . JACK . M. CATHEY. THEORY . AND. ANALYSIS: . TEXT AND CASES. 11. TH. EDITION. CHAPTER 15. EQUITY. Introduction. Equity is risk capital. N. o . guaranteed return . N. o . repayment of the investment. CHAPTER 13: Non-Financial and Current Liabilities. After studying this chapter, you should be able to:. Understand the importance of non-financial and current liabilities from a business perspective.. and . Conceptual Framework for Financial Reporting. ACCT-3030. 1. 1. Basic Definitions. What is accounting?. the identification, measurement, and communication of financial information. about economic entities. to Accounting. McGraw-Hill/Irwin. McGraw-Hill/Irwin. Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.. Explain the role of accounting in society.. LO 1. 1-. 1. Role of Accounting in Society. What is accounting?. Objectives of financial reporting. Accounting choice process. Accounting concepts. The accounting cycle. Closing entries. Adjusting entries. Who is your instructor?. Cameron Morrill, PhD, CGA. 1. 2. Financial Instrument . Any contract that gives rise to both a financial asset of one . entity and . financial liability or equity instrument of another . entity. . . 3. 4. Financial Asset . Is any asset that is:. cost of credit. The cost of credit is the additional amount, over and above the amount borrowed, that the borrower has to pay. It includes interest, arrangement fees and any other charges. Some costs are mandatory, required by the lender as an integral part of the credit agreement.. Financial managers need to analyze . the . accounting records to…. Understand . how . things have worked in the past. Effects of a course of action. Costs and benefits of an action . Why do we need to study accounting? .