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BASIC ACCOUNTING - Coggle Diagram

- - - - ASSETS = LIABILITIES + CAPITAL
    - - It is one where the Net Equity is made up only of the contributions
        of the owners (Capital).
        
        PN = C
    - - Owners' participation (PN) is made up of Capital and
        the results. Owners' participation (PN) is made up of Capital and
        the results.
        
        PN = C + I - G
  - - - what the company
        owns and is entitled to receive from any person or entity with the exception of its owner: money, merchandise, furniture, equipment, buildings, land, and
        that clients owe you,since you have the right to convert that debt into money timely.
    - - what the company owes and has to
        pay to any person or entity other than its owner. Are all debts and obligations contracted by the company.
    - - composed of those elements that collect the value
        of the funds that the entrepreneur has contributed (initial value of the shares),as well
        as for the profits generated by the company and not distributed that remain in the same to increase or maintain its potentiality
        (Bookings).
    - - is responsible for showing us the Benefit or
        Loss of the company. Although this account can be consulted in any
        time of exercise, it is usually used at the end of the exercise.
  - - - They involve third-party commitments to the company. A clear
        An example of a right against third parties would be the amounts that customers
        They owe the company for sales not yet collected.
    - - Unlike rights, they are the debts of the company
        in front of third parties. For example, amounts owed to suppliers,
        payroll pending payment to workers, or capital pending amortization in a loan.
    - - they are physical elements owned by the company. For example, buildings,
        land, furniture, computers, etc.
  - - - The one by which a credit right is transmitted, normally expressed
        in a document, in exchange for a price in money calculated by means of a reduction or discount on the value of said credit at the time of its
        expiration.
    - - current assets are considered cash and all those
        other accounts that are expected to be converted into cash or that have been
        to consume during the normal cycle of operations.
  - - - they are the ones that modify the net worth
        qualitatively, but they do not modify quantitatively.
    - - when equity increases or decreases.
        When it changes quantitatively.
  - - - The concept of capital refers to the Net Equity, formally constituted
        in a company by its owners at the time of starting it, although later it may also be formally increased or
        diminished.
- - - - Measurement, recording and control of results
      - Calculation of deviations
      - Establishment of organizational structure (Execution and control)
      - Explanation of the origin and causes of deviations
      - Establishment of plans, programs and budgets that quantify the objectives.
      - Making corrective decisions
      - Establishment of hierarchical short and long-term objectives
  - - - Control
      - Report
    - - Provide information to: Owners, shareholders, banks and managers, with
        relation to the nature of the value of the things that the business owes to third parties,
        
        Interpret the results in order to give detailed and reasoned information.
    - - Administrative
        
        provide information to internal users to supply and
        facilitate intrinsic management planning, decision-making and
        control of operations.
      - Financial
        
        provide information to external users of operations
        carried out by an entity, fundamentally in the past, which is why it is also
        calls it historical accounting.
  - - - "Accounting is the art of interpreting, measuring and describing the activity
        economic "(Meigs, Robert., 1992).
    - - With Engineering
      - With the state
      - With Statistics
      - With tax law
      - With commercial documentation
      - Between the company and management decisions
      - With the economy
- - - - The first three
        they refer to the systematization of books, that is, to the systematic compilation and recording of financial transactions. Financial documents
        they constitute the basis of accounting; among these documents it is worth highlighting
        bank checks, extended invoices, and paid invoices. The Information contained in these documents is transferred to the accounting books, the journal and the ledger. All transactions are reflected in the journal
        carried out by the company, while the argest reflects the transactions that affect the different accounting items, for example, cash, banks, customers, suppliers, among others.
  - - - Systematic: the accounts must be ordered according to a criterion that
        of an organized structure.
      - Homogeneity.
      - Flexibility: it must allow to introduce new accounts.
      - Integrity: must be complete (contain all necessary accounts of according to the information needs of the company).
    - - to use the same account for similar events
      - facilitates the preparation of financial statements.
      - as a means of obtaining information
      - as a basic structure in the organization and design of the accounting system.
  - - - Accounts The "real" Accounts
        
        comprise assets, liabilities and capital
        trading liquid
      - The "nominal" accounts
        
        record the expenses and income of the merchant and
        as they are used to formulate Profit and Loss statement.
      - Debts to pay:
        
        Callable Current Assets, includes the amounts for
        collect in an account open to debtors for operations inherent to the business
      - Customers
        
        This account is created at the time of a credit call registered as
        debt of clients represented with their respective invoices
- - - - regulate the presentation of
        financial statements for the use of third parties by all types of entities and include the
        Aspects that are valid, whatever the activity, purpose, legal organization or nature of an entity.
    - - tienen por objeto complementar a las generales y
        están formadas por aquellos aspectos de exposición que deben cumplir
        determinado tipo de entes, además de los requeridos por las normas generales.
  - - - TO HAVE
        
        Corresponds to the record on the right side of the account,
        called Credits or Subscriptions, therefore crediting or crediting an account, is place an item in credit the sum of all credits or credits of the same account represents creditor movement
      - BALANCE.
        
        It is the difference between the debtor and creditor movement of a
        account, and it is called a balance, this may be a debit balance or a creditor balance
        depending on the nature of the account.
      - SHOULD
        
        Corresponds to the record on the left side of the account,
        called Debits or Charges therefore debiting or debiting an account. It is
        place a game on debit.
- - - - obligations whose maturity or enforceability will operate at the end of the accounting period or in the next twelve months, provisions made to meet eventual obligations that could
        become true and enforceable within the aforementioned period, etc.
    - - all those that cannot be considered as
        current active. All debts that are not due within the subsequent tax period
    - - certain, determined or determinable obligations.
        Loans that the company receives and that have maturity in the long term.Among others we can distinguish:
        
        Long-term debts with group companies
        
        Long term debts.
        
        Long-term debts with credit institutions
    - - They are liability items that accumulate the amounts that are debited with counterparts in the cost in order not to omit accruals, respecting a normalized rate. The provisions are
        certain commitments not yet legally perfected but accrued while the provisions are eventual charges calculated as an estimate that should affect the period.
    - - Condition, situation or set of circumstances involving a certain degree of uncertainty that may result through the consummation of an event, in the acquisition or loss of an asset or in the origin or cancellation of a liability that generally results in profit or loss.
        
        Those of a repetitive nature
        
        Those of an isolated nature.∙
  - - - The Capital Stock is subscribed at the time the commitment is made to
        make the contribution, specifying for each shareholder or partner: Amount of
        shares or quotas, Unit Value and Total Value.
    - - The Social Capital is integrated when the contribution is made effective. The contribution can be
        made in cash, recordable property, personal property and others until completing the committed total.
    - - El accionista paga por la acción un precio superior al valor nominal de la
        acción.
    - - The General Accounting Plan (Spanish) includes, among others, the following
        reserve accounts:
        
        Statutory reserves
        
        Special reservations
        
        Legal reserve
        
        Voluntary reserves
        
        Share issue premium
        
        Revaluation reserves
        
        o Reserves for treasury shares
  - - - Cash and all other accounts are considered current assets
        expected to turn into cash or to be consumed
        during the normal cycle of operations.
    - - Total property owned by the State, which have no accounting movements to short term; which are used to meet the objectives of the
        institution.
    - - There are two Asset accounts, where the company's treasury is recorded
    - - They are corporeal goods acquired by the entity with the intention of marketing them
        either in the same way or transformed.
    - - Includes tangible assets acquired in any way, with the
        intention to be marketed and destined for transformation
    - - It is a "corporeal" (material) good that has a body, the acquisition of which is
        intended for the activities of the entity and not for sale.
    - - They are those assets that are not physically quantifiable, but produce or can produce a benefit to the Entity, whose life is greater than one year from the moment that
        it originated, being amortized against expenses in subsequent years.
  - - - The groups of accounts included in this status are:
        
        Sales cost
        
        Operational expenses
        
        Operating income
        
        Non-operating income
        
        Non-operating expenses
    - - They are exposed in the body of the net statement of returns and bonuses, as well
        as well as the taxes that affect them directly.
- - - - Es la unidad de medida para la contabilidad financiera el registro de los
        activos y pasivos y los cambios en ellos, en términos de un denominador
        financiero común, es requisito previo para la ejecución de las operaciones.
    - - such as the valuation of investments,
        indicating the amortization method,
      - valuation of inventories
      - valuation of fixed assets, indicating the amortization method,
    - - It is the amount expressed in money contributed by the owners of the entity and the capital increases that would have increased the capital.
  - - - Capital status
        
        At the end of a fiscal period, the changes in equity are of
        interest to the business owner.
      - The state of affairs
        
        It contains data that can be of great help to the
        business owner. In this report he can see if there is enough money to pay the debts.
      - Income status
        
        At the close of a fiscal period, the business owner can compare their status
        most recent income with previous periods.
  - - - The balance sheet allows us to know the financial situation of the company in a determined moment: the Balance sheet tells us what the company has and what
        should.
        
        Partial balances:
        
        at the end of the month, quarter, semester, or with the
        periodicity that you want; allows us to know the situation of the company at those specific times.
        
        Final balance:
        
        at the end of the fiscal year; allows us to know how
        The financial situation of the company remains after the end of its fiscal year (normally on December 31, although
        it could be another date of the year).
        
        Opening balance:
        
        at the beginning of the exercise; allows us to know what resources the company has to start its exercise
        economic.
    - - Whether the Income Statement is the accounting method for determining the
        Profit or Loss as an adequate arrangement of their training process.
        
        Extraordinary results
        
        Ordinary results
    - - For the preparation of this accounting statement, the following should be considered
        elements...
        
        Earnings reserved:
        
        retained earnings by explicit social will,
        legal or statutory provisions, their composition must be reported
        adequately.
        
        Unallocated results:
        
        unallocated accumulated gains or losses
        specifies
        
        Capital:
        
        composed of the subscribed capital, the irrevocable contributions made by owners and capitalized earnings.
  - - - Inflation can be defined as an increase in the general level of prices or as a decrease in the purchasing power of a country's currency