Please enable JavaScript.
Coggle requires JavaScript to display documents.
GENERAL ACCOUNTING (Balance accounts (Capital Accounts (Capital is what it…
GENERAL ACCOUNTING
Balance accounts
-
-
-
The Accounting Cycle
The accounting cycle is the sequence of accounting procedures used to record, classify and summarize the accounting information.
-
Accounting principles
-
-
Principle of Equal Sums
The one in which each operation has two seats, one as a debtor and another as a creditor
Other Principles
Principle of Objectivity
Asset valuation and income measurement should be based as soon as possible, on an objective test such as the exchange of prices in short-term transactions.
Entity Principle
Each accounting record of each business entity must be kept separately from the personal finances of the owner or any commercial or economic entity (refers to the company).
Cost Principle
Inglés
Que los activos y servicios adquiridos deberán ser registrados a su costo real (conocido
That the acquired assets and services must be registered at their actual cost (known
Accounting principles
That the primary objective of the financial reports is to provide useful information to make investment and loan decisions
-
Financial statements
-
Statement of income
It is the report that shows the result of the financial operations of a company in a given period. That is, it shows us the profit or loss of the business.
Balance sheet
A summary of all assets, liabilities and capital of a business
-
Financial analysis
-
-
Inventory Valuation
-
First in, first out
This method assumes that the first goods that are purchased will be those that will be sold first and those that remain in stock, will correspond to the last purchases
Average cost
If the prices of the products purchased fluctuate frequently, it is very convenient to use the average cost method.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-