Tài liệu Kế Toán - Kiểm Toán

Advances to officers and employees. Advances to subsidiaries. Deposits paid to cover potential damages or losses. Deposits paid as a guarantee of performance or payment. Dividends and interest receivable. Claims against: Insurance companies for casualties sustained; defendants under suit; governmental bodies for tax refunds; common carriers fo...

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Computes interest on principal and interest earned that has not been paid or withdrawn. Typical interest computation applied in business situations.

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A Big Hiccup JIT can save a company a lot of money, but it isn’t without risk. An unexpected disruption in the supply chain can cost a company a lot of money. Japanese automakers experienced just such a disruption when a 6.8-magnitude earthquake caused major damage to the company that produces 50% of their piston rings. The rings themselves cost o...

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The period for which results are summarized are known as the accounting period or the fiscal period. The income statement is prepared on accounting paper with two money columns. The income statement heading answers Who, What, and When? The balance will reflect a net income or net loss.

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Compare the figures on the trial balance with the account balances to verify that the correct amounts have been listed on the trial balance and that they were placed in the proper money columns. Omitting a transaction completely. Debiting or crediting the wrong accounts. Entering the amount of a transaction incorrectly. Entering the same trans...

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Traditionally used for merchandise with high unit values. Shows the quantity and cost of the inventory that should be on hand at any time. Provides better control over inventories than a periodic system.

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Computing rates of return. Evaluating the capital structure. Assess risk and future cash flows. Assess the company’s: Liquidity, Solvency, and Financial flexibility.

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Revenue Accounts Increases in owner’s equity through revenue are on the credit side Decreases in owner’s equity through reduction of revenue are on the debit side

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What is the periodicity assumption? Companies should recognize revenue in the accounting period in which it is earned. Companies should match expenses with revenues. The economic life of a business can be divided into artificial time periods. The fiscal year should correspond with the calendar year.

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INCOME – Increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from shareholders.

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