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FFMA: Financial accounting, 一些分类 - Coggle Diagram
FFMA: Financial accounting
introduction to accounting
definition: accounting is an aspect or function of business
2 main aspects of financial accounting: keeping record\producing reports(financial statement)
object of study: companies
types of business
company:large &medium business
small business: family owner
sole trader: 个体经营者
entities：in accounting, entity refers to a person, or organisation, or construct for which accounts are prepared
bookkeeping: keeping books of finical records
double entry:Double-entry bookkeeping involves recording each transaction twice. One entry is positive (inflow of value) the other negative (an outflow of value) and overall the positive entries equal the negative entries, hence errors are more likely to be noted. It is a systematic method of recording an enterprise’s transactions and uses a book (or module if the system is computerized) called the general ledger, nominal ledger or simply the ‘ledger’
Debits(Dr) and Credits(Cr)
Financial reports
Statement of Profit or Loss 损益表
Statement of Financial Position 资产负债表
Statement of Changes in Equity 权益变动表
Statement of Cash Flows 现金流量表
Sales and Profit
what is profit?
the increase in cash(or other assets)
= sales—costs of sales
accruals principle: allocation expense & income to the period to which they relate
what is assets?
assets are things that are owned by a business
cash
inventory of items
profit is equal to the increase in assets
cash / credit sale
cash sales:the seller received money for the sale at the time of sale
credit sale: pay a bit later
sale part: sellers has more cash(receipt/inflow)
payment part: buyers has less cash( payment/outflow)
when seller didn't receive the money——debt assets
when seller eventually receive the money——cash assets
一些分类
debtor(customer):比人欠我的钱
debit:入账
In Statement of financial position=assests:别人对我的投资（capital）、cash、设备和原料
In Statement of profit or loss=expense(cost of sale)：我作为企业买的原料、我卖原料on credit 的钱
creditor（supplier）：我欠别人的钱的金额
credit：出账
Liability(Equity)：别人对我的投资、我买原料on credit 的钱（payable）
Revenues：我卖商品收的钱