Composing a Basic Level Trial Balance Sheet

Feb 08, 2017

100 likes | 173 Views

Financial management is one of the hardest struggles of a business or organization, especially if you are new and unexperienced in the matter. <br>Website: http://www.tbworkssoftware.com

Share Presentation

Embed Code

Link

tbworkssoftware
feel free
tb works software
email info tbworkssoftware
phone 832 387 7816

TBWorks

Download Presentation

Composing a Basic Level Trial Balance Sheet

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

Composing a Basic Level Trial Balance Sheet Presentation By TB Works Software

Thank You For Watching Feel Free to contact us at • Phone: 832-387-7816 • Email: info@tbworkssoftware.com • Website: http://www.tbworkssoftware.com

BALANCE SHEET

BALANCE SHEET. STATEMENT OF FINANCIAL POSITION KEY CONCEPTS ASSETS = LIABILITIES + OWNER EQUITY ASSETS AND LIABILITIES ARE CLASSIFIED AS EITHER CURRENT OR NON-CURRENT. COST BASIS VALUES FOR ASSETS ARE NEEDED TO CORRECTLY DETERMINE ACCRUAL NET INCOME AND EARNED OWNER EQUITY

830 views • 29 slides

Balance Sheet

“Old accountants never die; they just lose their balance” --Anonymous. Balance Sheet. Assets, Liabilities & Shareholders’ Equity. Assets =. Liabilities + Stockholders’ equity. The Balance Sheet. Also called the statement of condition or statement of financial position.

535 views • 27 slides

Balance sheet

Balance sheet. Business Studies. What is a balance sheet?. The balance sheet is a financial statement. It is a list of all the assets (what the business owns) and all the liabilities (what the business owes) of a business. The balance sheet is a financial “snap shot”.

398 views • 12 slides

Balance Sheet

Balance Sheet. Assets (LHS) What we own Debt and Equity (RHS) What we owe Point in Time Accural Accounting Matching of Revenues with Expenses. Organization of Balance Sheets.

462 views • 5 slides

TRIAL BALANCE

OBJECTIVES OF TRIAL BALANCE . To have balance of all the accounts of ledger in order to avoid the necessity of going through the pages of the ledger to find it out To have proof that the double entry of each transaction has been recorded because of its agreement . To have arithmetic accuracy of the

873 views • 29 slides

Balance Sheet

Balance Sheet. Mr. Hill started a new business. Prepare balance sheet entries for the following transactions . Driving instructor James Hill established a private driving school. On June 1, he invested 50 000 of his personal funds in the school.

252 views • 4 slides

Balance Sheet

Balance Sheet . Assets Business Equipment $15,000 Less Depreciation (4,500) Total Assets $10,500.

236 views • 1 slides

Balance Sheet

Balance Sheet. Record Keeping Curriculum Georgia Department of Education Agricultural Education Written by Jimmy Scott Georgia Ag Ed Curriculum. Balance Sheet - Defined.

263 views • 8 slides

Balance Sheet

Balance Sheet. What is a Balance Sheet?. What is a balance sheet? A balance sheet or commonly called “net worth statement” is a snapshot of a financial situation that lists assets, liabilities, and net worth. The accounting equation states that net worth = assets – liabilities.

401 views • 8 slides

Balance Sheet

Balance Sheet. Profit & Losses.

201 views • 7 slides

BALANCE SHEET

BALANCE SHEET. SHOWS ASSETS LIABILITIES AND OWNERS EQUITY AS OF A CERTAIN DATE SO THERE IS AN ASSET SECTION ON THE BALANCE SHEET, A LIABILITY SECTION AND AN OWNERS EQUITY. FIVE TYPES OF CURRENT ASSETS. CASH MARKETABLE SECURITIES ACCOUNTS RECEIVABLE INVENTORY

308 views • 13 slides

Balance Sheet

Balance Sheet. Describes the financial condition of the business at a point in time Gives two important financial measures of the business: Solvency Liquidity. Balance Sheet. Assets = Liabilities + Net Worth Someone has a claim on each asset of the farm business Lender – liability

472 views • 17 slides

Basic Accounting Concepts: The Balance Sheet

Basic Accounting Concepts: The Balance Sheet. 2. Part One: Financial Accounting. The McGraw-Hill Companies, Inc., 1999. Basic Concepts. Slide 2-1. Accounting period Conservatism Realization Matching Consistency Materiality. Money measurement Entity Going concern Cost

1.19k views • 27 slides

Balance Sheet

Balance Sheet . Financial Photo of the business – financial position at one point in time Takes on date and shos us the value of what the business has (ITS ASSETS) what it owes (ITS LIABILITIES AND CAPITAL) Will tell us if the company is financially secure

342 views • 11 slides

Balance Sheet

Balance Sheet. In Accounting, An Itemized Statement Of What One Owns, What One Owes, and What One Is Worth Is Called A:. Balance Sheet. The First Step In Setting Up Records Is To Find Out:. 1. What One Owns 2. What One Owes 3. What One Is Worth. Balance Sheet Reports What A Business.

444 views • 24 slides

Balance Sheet

Balance Sheet. Current Assets. Current assets – those likely to be used or consumed within one year. Cash and cash equivalents Accounts Receivable – right to receive money from customers in the future (IOU to you) Inventories - could be raw materials and finished goods. Long-term Assets.

169 views • 6 slides

Balance Sheet

Limitations: Most assets are recorded at historical cost rather than at market value. Resources such as employee skills and reputation are not recorded on the balance sheet. Usefulness: Liquidity information. Long-term solvency information. Balance Sheet. Case 3-5.

745 views • 43 slides

Balance Sheet

Balance Sheet. A Balance Sheet. Is a statement of a firms assets, liabilities and share capital on a particular date. Assets. Are things that a firm owns. They can be current or fixed. Current Assets. Are owned by the firm. They change from year to year. Examples include:

318 views • 14 slides

Balance Sheet

Balance Sheet. Damona Doye OSU Extension Economist damona.doye@okstate.edu 405-744-9836. Financial Statements. Cash flow statement Cash income Cash expenses. Balance sheet Assets Liabilities Net worth (owner equity). Income statement Cash income Cash expenses Changes in assets

213 views • 13 slides

Balance Sheet

Balance Sheet. Balance Sheet. I. http://www.investopedia.com/video/play/return-on-investment-basics.

706 views • 41 slides

Preparing a Balance Sheet

Balance Sheet is the budget summary of an organization which incorporates resources, liabilities, value capital, absolute obligation, and so on at a point in time. Balance sheet remembers resources for one side, and liabilities on the other.

112 views • 9 slides

More Related