Tóm tắt ý chính của chương 2:
+Balance sheet layouts
Double-side or horizontal format
Vertical format
+Capital The capital of a business entiry is the amount that the business owes its owner.
+Balance sheet equation
Assets = Proprietor's capital + Liabilities
Assets - Liabilities = Proprietor's capital
+Business Entity concept
Business Entity concept states that financial accounting information relates only the activities of the business entiry and not to the activities of its' owner.
+Book values
Book values are the individual amounts making up the assets
+Liquid assets
Liquid assets means cash and those assets which are close to cash
+Non-current assets
Non-current assets is any tangible or intangible acquired for retention by an entity for the purpose of providing a services to the business, and not held for resales in the normal course of trading
+Current assets
Inventory
Account receivables
Cash at bank
Cash in hand
+Liabilities
Liabilities are claims on the business by outsiders. Current liabilities are those liabilities which are payable within twelve months of the balance sheet date
+Balance sheet
Balance sheet is a statement of the financial position of an entiry at a given date.
+Matching convention
Then comarision of the costs associated with making a sale with the sale proceeds is known as the matching convention
+Income Statement
An Income Statement summarises the trading transactions of a business entity over a period of time
+Drawings
Cash or other assets taken out of the business by the owner are called "amounts withdrawn" or "drawings"
+Accounting Equation
After each transaction, the accounting equation will always be equal
+Profit
Profit is difference between purchase price/cost of good sole + expenses overheads and sale proceeds and it belongs to the proprietor(s) of the business. It is an increase in the capital of the business
+Gross profit
Gross profit is the difference between sales proceeds and the cost of good sold
+Net Profit
Net Profit is gross profit less the expenses of the business
+Balance sheet layouts
Double-side or horizontal format
Vertical format
+Capital The capital of a business entiry is the amount that the business owes its owner.
+Balance sheet equation
Assets = Proprietor's capital + Liabilities
Assets - Liabilities = Proprietor's capital
+Business Entity concept
Business Entity concept states that financial accounting information relates only the activities of the business entiry and not to the activities of its' owner.
+Book values
Book values are the individual amounts making up the assets
+Liquid assets
Liquid assets means cash and those assets which are close to cash
+Non-current assets
Non-current assets is any tangible or intangible acquired for retention by an entity for the purpose of providing a services to the business, and not held for resales in the normal course of trading
+Current assets
Inventory
Account receivables
Cash at bank
Cash in hand
+Liabilities
Liabilities are claims on the business by outsiders. Current liabilities are those liabilities which are payable within twelve months of the balance sheet date
+Balance sheet
Balance sheet is a statement of the financial position of an entiry at a given date.
+Matching convention
Then comarision of the costs associated with making a sale with the sale proceeds is known as the matching convention
+Income Statement
An Income Statement summarises the trading transactions of a business entity over a period of time
+Drawings
Cash or other assets taken out of the business by the owner are called "amounts withdrawn" or "drawings"
+Accounting Equation
After each transaction, the accounting equation will always be equal
+Profit
Profit is difference between purchase price/cost of good sole + expenses overheads and sale proceeds and it belongs to the proprietor(s) of the business. It is an increase in the capital of the business
+Gross profit
Gross profit is the difference between sales proceeds and the cost of good sold
+Net Profit
Net Profit is gross profit less the expenses of the business
.
