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Chapter 2. Analysing transactions - Coggle Diagram
Chapter 2.
Analysing transactions
What is an Account and its usefulness? :question:
A record to record the increase and decrease
of each item on the Financial Statement
//mot ban ghi lai su tang va giam cua tung khoan muc trong bao cao tai chinh.
Cash account: record the increase and decrease of cash
Fixed Assets account: record the increase and decrease of fixed assets
Liabilities account: record the increase and decrease of liabilities
-Group of accounts called a ledger/ sổ cái.
-List of accounts called a chart of accounts.
-Revenues: a result of providing services or
selling products to customers.
-Expenses: the using up of assets and the consuming of ervices in the process of earning revenues.
//Chi phí: việc sử dụng hết tài sản và tiêu thụ các thiết bị trong quá trình tạo ra doanh thu
Characteristics of an Account
There are 4 columns:
-Account title
-Debit
-Credit
-Balance
T Account
-Title
-Debit side (Dr)
-Credit side (Cr)
:star:quy ước bên trái là Debit-bên phải là credit
-When an amount entered on the left side of an account (whatever!!!), is called debit to the account (or the account is said to be debited).
-On the other hand, when an amount entered on the right side of an account (whatever!!!), is called credit to the account (or the account is said to be credited). :lock:
Debit and credit
:lock:Remember the phrase:
A
fter
E
ating
D
inner (Debit).
(
Aset, Expenses, Drawing.
)
L
et’s
R
ead
C
omics (Credit).
(
Liabilities, Revenues, Capital.
).
Every transaction affects at least two accounts :check:
bat cu nghiep vu nao cung se anh huong it nhat den 2 tai khoan