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Class Notes (1,032,715)
AUS (35,062)
Monash (3,663)
ACC1100 (21)

Class Notes for ACC1100 at Monash University

Introduction to financial accounting

ACC1100 Lecture Notes - Lecture 9: Book Value, Intangible Asset
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WEEK 9: Non-Current Assets Non-Current Assets: Assets which - Management believes will provide economic benets for a period greater than 12 months - Will be used, directly or indirectly, in the revenue-earning process - Ar...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 10: Contingent Liability, Lease, Operating Lease
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Equitable Obligation Arises from social or moral considerations, WEEK 10: Liabilities rather than legal sanctions. Liabilities - Sacrice of economic benets Constructive Obligation (AASB 137) - Present obligation to another...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 12: Income Statement, Historical Cost
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WEEK 12: Critical Analysis of Accounting Standards Agricultural Standards (AASB 141) Biological assets (a living animal or plant) Agricultural produce at the point of harvest (timber, milk, wool) - Transformation involves ...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 11: Retained Earnings, Share Capital, Income Statement
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WEEK 11: Equity, Income and Expenses Statement of Comprehensive Income (Normal ProtLoss from Income Statement) + Other Comprehensive Income - Other includes items of income or expense which are not recognised in the prot o...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 8: Market Price, Weighted Arithmetic Mean
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WEEK 8: Reporting Inventories Measurement of Inventories Rule: Inventories must be measured at the lower of cost and net realisable value (AASB102 para 9) - Market price of inventory can become less than the cost price, du...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 7: Bank Reconciliation, Trial Balance, Bank Statement
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WEEK 7: Special Journals and Internal Control Special Journals Group common business transactions General Journal One off transactions, adjusting entries, closing Purchases Journal entries ...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 4: Perpetual Inventory
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WEEK 4: Inventories Retail Operations (Gross Prot = Sales Revenue - COS) - Operating Expenses = Prot (Loss) Income for a Retailer - The primary source of income is from the sale of inventory, known as sales revenue or...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 6: Income Statement, Deferral, Retained Earnings
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WEEK 6: Completing the Accounting Cycle Prepare Financial Statements Income Statement prepared from revenue and expense accounts. - Current period prot (or loss) and dividends paid are transferred to the retained prots ...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 5: Accounts Receivable, Income Statement, Accrual
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WEEK 5: Balance Day Adjustments Balance Day Adjustments (BDA) Adjustments made at the end of a period, in which expenses and revenues for the specic period are recognised (based on accrual accounting) Re...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 3: Accounts Payable, Trial Balance, Current Liability
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WEEK 3: The Recording Process Journal Entries Based on the relevant source documents, transactions are recorded by preparing journal entries in the General Journal Businesses dont use transaction analysis to record transa...

Business - Accounting
ACC1100
Alan Serry
ACC1100 Lecture Notes - Lecture 11: Comprehensive Income, Retained Earnings, Share Capital

Week 11 Equity, Income & Expenses: Equity: Definition of equity: the residual interest once total liabilities are deducted from total assets. There is no recognition criteria for equity. However, it is dependent on the ...

Business - Accounting
ACC1100
john gerrand
ACC1100 Lecture Notes - Lecture 4: Income Statement, Retained Earnings

Income statement using periodic method: Sales 50,000 Less sales returns and allowances 5,000 Net Sales ...

Business - Accounting
ACC1100
john gerrand
ACC1100 Lecture Notes - Lecture 9: Finance Lease, Operating Lease, Intangible Asset

Non-Current Asset Notes: PPE assets are initially recorded at cost. Cost = the amount of cash or cash equivalents paid plus the fair value of all expenditures necessary to acquire the asset and make it ready for its in...

Business - Accounting
ACC1100
john gerrand
ACC1100 Lecture Notes - Lecture 2: Share Capital, Write-Off

At the beginning of April 2016, the ledger of BallisLife Ltd showed Cash 3750; Inventory 2500; and Share Capital 6300. The following transactions were completed during April. A stocktake at the end of the month revealed 19...

Business - Accounting
ACC1100
john gerrand
ACC1100 Lecture 12: Acc1100 = W12 = Critical Analysis

Week 12 Critical Analysis: Agricultural standard: Biological assets = assets that are a living plant or animal. Eg. sheep, fruit trees, dairy cattle, etc. Agricultural produce = the harvested product from a biological asse...

Business - Accounting
ACC1100
john gerrand
Permachart - Marketing Reference Guide: Security Interest, Consequential Damages, Parol Evidence Rule

TM permacharts S a le s&L e a s e so fG o o d s General Considerations Un...

Accounting
ACTG 2010
All Professors
Permachart - Marketing Reference Guide: Secured Transaction, Chattel Mortgage, Security Interest

permacharts TM S e c u r e dT r a n s a c t io n s Scope ...

Accounting
ACTG 2010
All Professors
Permachart - Marketing Reference Guide: Statement Of Changes In Equity, Retained Earnings, Cash Cash

permacharts MT FINANCIAL STATEMENTS • Financial statements are documents that are BALANCE SHEET (B/S) STATEMENT OF RETAINED EARNINGS (SRE) ...

Accounting
ACTG 2010
All Professors
Accounting II - Reference Guides

Advance your knowledge with our advanced Accounting II! This companion Guide to Accounting I develops the reader’s understanding of balance sheets before moving into an effective summary of how assets are treated for accou...

Accounting
ACTG 2010
All Professors
Cost Accounting - Reference Guides

Specialized Accounting quick reference information in one handy place! This Guide provides specialized reference material that flows naturally from the contents of its companion Guides Accounting I and Accounting II. The t...

Accounting
ACTG 2010
All Professors
Permachart - Marketing Reference Guide: New York Stock Exchange, Nyse American, Market Trend

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Stocks & Bonds WHAT IS A STOCK? WHAT IS A BOND? ...

Biology
BIOL2761
All Professors
Permachart - Marketing Reference Guide: Net Asset Value, Mutual Fund, U.S. Securities And Exchange Commission

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Mutual Funds WHAT IS A MUTUAL FUND? PURCHASING & REDEE...

Biology
BIOL2721
All Professors
Business Administration
BUS 343
All Professors
Permachart - Marketing Reference Guide: Business Communication, Human Communication, Jargon

Communication Success 2 Communication Success 3 permacharts TM ...

Business Administration
BUS 343
All Professors
Permachart - Marketing Reference Guide: Predatory Pricing, Sales Promotion, Marketing Mix

Introductory Marketing 2 Introductory Marketing 3 permacharts TM ...

Business Administration
BUS 343
All Professors
Administrative Law - Reference Guides

Administrative law directly influences the life of every American citizen. All local, state and federal agencies operate pursuant to general Administrative law principles. An understanding of all administrative law functio...

Business Admin - Mgt
MGMT 10
All Professors
Organizational Behavior - Reference Guides

The systematic study of individual and group behavior within organizational structures is outlined in this coordinated Guide. Theories of leadership and individual behavior are related to the foundations of group behavior ...

Psychology
PSYC 302
All Professors
Introduction to Business Law - Reference Guides

Business law, sometimes referred to as corporate-commercial law, is a system of governance and regulations in connection with the creation, existence and dissolution of businesses. Today, Canadian businesses are governed b...

BLAW - Business Law
BLAW 464
All Professors
Management - Reference Guides

The complex aspects of Management are made clearer in this Guide. This powerful Guide provides comprehensive assistance to anyone who desires a deeper appreciation of basic Management principles. The fundamentals of organi...

BA - Business Administration
BA 2283
All Professors
Corporations - Reference Guides

Corporations are explained with clarity and precision in this informative Guide! This guide helps to remove some of the confusion that popularly exists concerning the purpose, the extent, and the legal effect of different ...

BA - Business Administration
BA 2283
All Professors
Marketing - Reference Guides

An easy to follow summary of every key marketing principle. The ability to effectively match a product or service to a need requires a well rounded understanding of the selling, public relations, and advertising that makes...

MBA - Master's in Business Admin
MBA 643
All Professors
Permachart - Marketing Reference Guide: Meeting Of The Minds, Executory Contract, Uniform Commercial Code

l e a r n • r e f e r e n c e • r e v i e w permacharts TM CContracts WHAT IS A CONTRACT? STATUTE OF FRAUDS ...

Law and Business
LAW 603
All Professors

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