notes by Jalen Jones https://padlet.com/8410899/18e2iackd26x business en-us 2016-10-14 17:57:47 UTC 2016-10-20 18:23:28 UTC hello@padlet.com Accounting 8410899 https://padlet.com/8410899/18e2iackd26x/wish/130839105 Method of reporting financial activity of a business.
Financial transactions recording in an orderly fashion.]]> 2016-10-14 18:02:22 UTC https://padlet.com/8410899/18e2iackd26x/wish/130839105 Components Of Accounting  8410899 https://padlet.com/8410899/18e2iackd26x/wish/130841950 assets
liability
owner equity ]]> 2016-10-14 18:09:16 UTC https://padlet.com/8410899/18e2iackd26x/wish/130841950 Assets 8410899 https://padlet.com/8410899/18e2iackd26x/wish/130843254 anything of value owed by the business ]]> 2016-10-14 18:11:40 UTC https://padlet.com/8410899/18e2iackd26x/wish/130843254 Liabilities  8410899 https://padlet.com/8410899/18e2iackd26x/wish/130843952 money owed by the business.
EX.
accounts payable
mortgage payable
taxes due
utilities corporation
office supply store]]> 2016-10-14 18:13:13 UTC https://padlet.com/8410899/18e2iackd26x/wish/130843952 Owner's Equity 8410899 https://padlet.com/8410899/18e2iackd26x/wish/130845652 Net worth of the business.
Net worth in any asset owed minus any debt owed.
everything you own of significance(your assets)minus what you owe in debts(your liabilities)]]> 2016-10-14 18:17:27 UTC https://padlet.com/8410899/18e2iackd26x/wish/130845652 Accounting Equation 8410899 https://padlet.com/8410899/18e2iackd26x/wish/130848419 Assets=Liabilities+owners equity]]> 2016-10-14 18:25:48 UTC https://padlet.com/8410899/18e2iackd26x/wish/130848419 Financial Statements 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132172783 written reports that that describe the financial health of a company;prepared regularly on quarterly and annual basis.\
balance sheet
income statement
statement of change in owner's equity]]> 2016-10-20 17:55:26 UTC https://padlet.com/8410899/18e2iackd26x/wish/132172783 balance sheet 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132174947 reports assets liabilities, and owner's equity on a certain date
]]> 2016-10-20 18:00:08 UTC https://padlet.com/8410899/18e2iackd26x/wish/132174947 •Statement of Changes in Owner’s Equity 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132178047 •Financial Statement of a business that reports the changes that have occurred in the owner’s equity account during the fiscal period.]]> 2016-10-20 18:07:57 UTC https://padlet.com/8410899/18e2iackd26x/wish/132178047 •Income Statement 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132178968 •Financial Statement of a business that reports the revenue, expenses and the net income (loss) of a business for the fiscal period.
]]> 2016-10-20 18:10:02 UTC https://padlet.com/8410899/18e2iackd26x/wish/132178968 •Revenue 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132179352 •Amount of money that a company earns
]]> 2016-10-20 18:10:55 UTC https://padlet.com/8410899/18e2iackd26x/wish/132179352 Expenses 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132179538 •Costs of maintaining and operating a business.]]> 2016-10-20 18:11:24 UTC https://padlet.com/8410899/18e2iackd26x/wish/132179538 •Income/Profit 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132179717 Results when a business’s income is greater than its expenses.]]> 2016-10-20 18:11:48 UTC https://padlet.com/8410899/18e2iackd26x/wish/132179717 Loss 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132180238 •Results when a business’s expenses are greater than its income]]> 2016-10-20 18:12:52 UTC https://padlet.com/8410899/18e2iackd26x/wish/132180238 •Fiscal Period 8410899 https://padlet.com/8410899/18e2iackd26x/wish/132181158 Specific period of time covered by an accounting statement or report (1 month or year)]]> 2016-10-20 18:14:40 UTC https://padlet.com/8410899/18e2iackd26x/wish/132181158