Kế toán, kiểm toán - Chapter twelve: Introduction to merchandising businesses: purchasesAccounting Terminology Extensions FOB destination FOB shipping point Free on board Purchase invoice Purchases discounts Purchases returns and allowances. Sales discounts Sales invoices Tickler file Unpaid invoice file
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Kế toán, kiểm toán - Chapter 12: Intermediate accounting: ifrs edition, 2/eIllustration: Harcott Co. incurs $180,000 in legal costs on January 1, 2015, to successfully defend a patent. The patent’s useful life is 20 years, amortized on a straight-line basis. Harcott records the legal fees and the amortization at the end of 2015 as follows.
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Kế toán, kiểm toán - Depreciation, impairments, and depletionService life often differs from physical life. Companies retire assets for two reasons: Physical factors (casualty or expiration of physical life). Economic factors (inadequacy, supersession, and obsolescence).
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Kế toán, kiểm toán - Chapter eleven: Introduction to merchandising businesses: SalesSometimes a customer will return merchandise or request an allowance. The procedure for handling returns and allowances on credit sales involves the use of a credit memorandum or credit slip listing the details of the credit
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Kế toán, kiểm toán - Reporting and analyzing stockholders’ equityCharacteristics that distinguish corporations from proprietorships and partnerships. Separate Legal Existence Limited Liability of Stockholders Transferable Ownership Rights Ability to Acquire Capital Continuous Life Corporation Management Government Regulations Additional Taxes
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Kế toán, kiểm toán - Acquisition and disposition of property, plant, and equipmentInclude all expenditures incurred in acquiring the equipment and preparing it for use. Costs include: purchase price, freight and handling charges, insurance on the equipment while in transit, cost of special foundations if required, assembling and installation costs, and costs of conducting trial runs.
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Kế toán, kiểm toán - Chapter ten: Closing the ledgerThe procedure used at the end of each accounting period to make the ledger ready for the next period’s transactions is known as closing the ledger. This procedure begins with a series of closing entries, which are journalized and posted.
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Kế toán, kiểm toán - Inventories: Additional valuation issuesIn most situations, companies price inventory on an item-by-item basis. Tax rules in some countries require that companies use an individual-item basis. Individual-item approach gives the lowest valuation for statement of financial position purposes. Method should be applied consistently from one period to another.
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Kế toán, kiểm toán - Chapter nine: Principles of accounting1. Describe the functions of accounting. 2. Complete an accounting equation. 3. Prepare a balance sheet. 4. Demonstrate the process of recording business transactions in equation form.
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Kế toán, kiểm toán - Chapter eight: The general ledgerIf a debit appears in the journal, it will appear as a debit in the ledger. If a credit appears in the journal, it will appear as a credit in the ledger. A running balance appears in the ledger.
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