Basic Accounting & Financial Terminology : Basic Accounting & Financial Terminology
Program Objectives (1 of 2) : Program Objectives (1 of 2) Understand basic accounting and financial terminology.
Learn how double entry accounting works.
Explore the world of accounting cycle, accounts, assets, equity, receivables, accounts payable, liabilities and ledgers. www.readysetpresent.com Page 2
Program Objectives (2 of 2) : Program Objectives (2 of 2) Discover which accounting system works best for you.
Explore how computerized accounting works and it’s benefits.
Understand financial statements, income statements, statements of owner’s equity, balance sheets and cash flows. www.readysetpresent.com Page 3
A Challenge : A Challenge Please Write a One Sentence Definition of
BASIC ACCOUNTING
&
FINANCIAL TERMINOLOGY. www.readysetpresent.com Page 4
Definition : Definition In plain words, Accounting provides you with information that will help you in operating business, make right decisions; it is the means by which business information is communicated.
Accounting reports or Financial statements are products of accounting. Page 5 www.readysetpresent.com
What Is? : What Is? Managerial Accounting
Financial Accounting Page 6 www.readysetpresent.com
Managerial Accounting : Managerial Accounting Gather information that is relevant to the decision-making needs of management. Page 7 www.readysetpresent.com
Financial Accounting : Financial Accounting Concerned with reports for owners, creditors and government agencies. Page 8 www.readysetpresent.com
Accounting Cycle (1 of 3) : Accounting Cycle (1 of 3) Analyzing and recording transactions in the journal.
Posting transactions to the ledger.
Preparing an unadjusted trial balance. Page 9 www.readysetpresent.com
Download “Basic Accounting & Financial Terminology” PowerPoint Presentation at ReadySetPresent.com : Download “Basic Accounting & Financial Terminology” PowerPoint Presentation at ReadySetPresent.com 78 slides include: 9 slides on understanding accounting cycles, journal entries, double-entry accounting and what is an account. In addition, learn the top tips for using “chart of accounts”, 11 slides on understanding assets, equity and receivables, 7 slides on accounts payable, slides on accounting systems and finding the best accounting system, 6 slides on merchandising business, 5 slides on financial systems, 9 slides on ledgers, balance sheet, cash flow, and more. www.readysetpresent.com Page 10