Accounting And Finance by Carl Santos https://padlet.com/8544688/AccountingAndFinance Wat en-us 2016-10-20 15:27:54 UTC 2016-10-20 15:34:19 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Clouds.png What is Accounting? 8544688 https://padlet.com/8544688/AccountingAndFinance/wish/132111466 •Method of reportingfinancial activity of a business
•Financial transactions recorded in an orderly fashion
]]> 2016-10-20 15:29:52 UTC https://padlet.com/8544688/AccountingAndFinance/wish/132111466 Components of Accounting  8544688 https://padlet.com/8544688/AccountingAndFinance/wish/132111614 •Assets
•Liability
•Owner Equity 
]]> 2016-10-20 15:30:16 UTC https://padlet.com/8544688/AccountingAndFinance/wish/132111614 Assets 8544688 https://padlet.com/8544688/AccountingAndFinance/wish/132111893 Anything of Value owned by the company.]]> 2016-10-20 15:30:52 UTC https://padlet.com/8544688/AccountingAndFinance/wish/132111893 Liabilities 8544688 https://padlet.com/8544688/AccountingAndFinance/wish/132112308 Money owned by the business]]> 2016-10-20 15:31:45 UTC https://padlet.com/8544688/AccountingAndFinance/wish/132112308 Owners' Equity 8544688 https://padlet.com/8544688/AccountingAndFinance/wish/132112648 •Net worth of the business
•Net worth is any asset owned minus any debt owed
•Its really everything you own of significance (your assets) minus what you owe in debts (your liabilities).
]]> 2016-10-20 15:32:35 UTC https://padlet.com/8544688/AccountingAndFinance/wish/132112648 Financial Statements 8544688 https://padlet.com/8544688/AccountingAndFinance/wish/132112865 •Assets
•Anything of value that is owned by the business.
•Liabilities
•Money owed by the business (debts, accounts payable)
•Owner’s Equity
•Net worth of the business 
•Balance Sheet
•Reports assets, liabilities, and owner’s equity on a certain date
]]> 2016-10-20 15:33:07 UTC https://padlet.com/8544688/AccountingAndFinance/wish/132112865 Accounting Equation 8544688 https://padlet.com/8544688/AccountingAndFinance/wish/132113013
Assets =
  Liabilities + Owner’s Equity]]> 2016-10-20 15:33:33 UTC https://padlet.com/8544688/AccountingAndFinance/wish/132113013