Week 2 Accounting

Week 2 Accounting - Centre for Business Interdisciplinary...

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Centre for Business Interdisciplinary Studies Business Information Management Week 2-Accounting Financial Statements: Balance Sheet Accounting equation and concepts of assets, liabilities and equity
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Session Outline Balance Sheet- nature and purpose Assets-definition, recognition, measurement and classification Liabilities-definition, recognition, measurement and classification Owners Equity- nature and classification Basic Accounting Equation Potential limitations of the Balance Sheet Formats for Balance sheet 2
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Key Terms for the Session Assets Current assets Accounts receivables Inventory Non-current assets Physical assets Intangible assets Goodwill Investments Liabilities Current liabilities Accounts payables Bank Overdraft Non-current liabilities Owners equity Contributed capital Retained earnings Reserves 3
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Annual Reports What would you find in an annual report of a company? What key financial statements would you find in an annual report? What assurance is there for the user that the information contained in the financial statements is ‘TRUE AND FAIR’? Exercise 2A 4
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Balance Sheet What key information is shown in a Balance sheet?
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This note was uploaded on 10/24/2011 for the course ECON 101 taught by Professor Abcd during the Fall '11 term at RMIT Vietnam.

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Week 2 Accounting - Centre for Business Interdisciplinary...

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