Chapter 4 - Personal Finances Chris Robinson and Captus...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
© Chris Robinson and Captus Press Inc., 2006 © Chris Robinson and Captus Press Inc., 2006 Personal Finances
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
© Chris Robinson and Captus Press Inc., 2006 Accounting in Personal Finance Accounting in Personal Finance Do it the way it is most useful for you No articulation Provides the raw material for much of the planning for the future Only material items
Background image of page 2
© Chris Robinson and Captus Press Inc., 2006 Measure and Control Measure and Control Balance sheet Income statement — modified cash basis Budget Control, in order to keep on track for your objectives These processes must fit the nature of the family. You can’t impose “GAAP for family accounting.” You can’t impose “GAAP for family accounting.”
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
© Chris Robinson and Captus Press Inc., 2006 Family Balance Sheet Family Balance Sheet Define family Assets to include: financial personal use luxury Liabilities — accrue debts Valuation: market, historic, depreciated cost, replacement
Background image of page 4
© Chris Robinson and Captus Press Inc., 2006
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/14/2011 for the course ADMS 3541 taught by Professor Staff during the Winter '10 term at York University.

Page1 / 13

Chapter 4 - Personal Finances Chris Robinson and Captus...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online