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Class Notes for Accounting at Ryerson University

ACC 100 Lecture Notes - Lecture 9: Financial Statement, Trend Analysis, Balance Sheet
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ACC 100 Lecture 9 Financial Statements Comparative Financial Statements: Required to perform an analysis of the financial statements Horizontal Analysis: Calculate trends between one year and the next Present the important...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 8: Current Liability, Canada Pension Plan, Unemployment Benefits
24HR
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ACC 100 Lecture 8 Liabilities Accounts Payable: Commonly used liability account Used when goods or services are purchased on account from a supplier Considered a current liability Will be paid off within the upcoming 12 ...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 7: Financial Statement, Capital Asset, Fixed Asset
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ACC 100 Lecture 7 Tangible and Intangible Assets Longlived Assets: Will last and be used for many years Tangible Assets: Physical assets you can see and touch or move around Property, plant and equipment Also called fixed ...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 6: Accounts Receivable, Current Liability, Financial Statement
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ACC 100 Lecture 6 Accounts Receivable Accounts Receivable: Current assets account Records the legal right to collect cash from the customers who paid on credit Negative Effect Of Offering Credit: Businesses sell on credit ...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 5: Cash Register, Market Price
24HR
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ACC 100 Lecture 5 Inventory Inventory Tracking Systems: Also called inventory costing methods Assign costs of inventory and determine the cost of goods sold Different inventory tracking systems are used by diverse business...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 4: Accounts Payable, Negative Number, Accounts Receivable
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ACC 100 Lecture 4 Merchandising Businesses Inventory: Inventory affects the operations of a merchandising business Buyer when purchasing from suppliers Seller when selling to consumers Inventory is finished goods that merc...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 3: Income Statement, Retained Earnings, Balance Sheet
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ACC 100 Lecture 3 Accounts and Financial Statements Accounts: Accounts are common subgroups of financial reporting elements that are used to accumulate business activities Accounts subdivide financial reporting elements ...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 2: Financial Statement, Information System, Retained Earnings
24HR
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ACC 100 Lecture 2 Financial InformationHow Do Business Produce Financial Information that is UsefulFinancial data is not financial informationData has to be categorized, analyzed, and formatted for presentation for it to...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 1: Primary Sector Of The Economy, Going Concern, Tertiary Sector Of The Economy
24HR
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ACC 100 Lecture 1 Introduction to AccountingWhat is a Business:The activity of making, buying, or selling goods or providing services in exchange for money Business Sectors:Primary sector businesses grow and gather resou...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 10: Cash Flow Statement, Cash Flow, Promissory Note
24HR
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ACC100 - L10: The Statement of Cash Flows Purpose ● The statement of cash flows is a financial statement that summarizes cash receipts and payments of a business from its operating, investing and financing a...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 9: Dividend, Retained Earnings, Stock Certificate
24HR
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ACC100 - Lecture 9: Shareholders' Equity Equity as a Source of Financing ● With shares, the financial return may be a dividend or also a the price appreciation of shares (the increase in their current value)....

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 7: Subledger, General Ledger, Accounts Receivable
24HR
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ACC100 - L7: Liquid Assets and Internal Control Accounts Receivable ● Subsidiary ledger: the detail for a number of individual items that collectively make up a single general ledger account. At any point in...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 8: Capital Asset, Capital Expenditure
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ACC100 - L8: Capital Assets Property, Plant and Equipment ● Assets within PPE (property, plant and equipment) can be tangible or intangible. ● Tangible: something that is physical (i.e. a machine). ● Inta...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 6: Gross Margin, Fifo (Computing And Electronics), Weighted Arithmetic Mean
24HR
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ACC100 - L6: Inventories and Cost of Goods Sold The Periodic System ● Recall that assets are unexpired costs, and expenses are expired costs. The value assigned to an asset on the balance sheet determines th...

Accounting
ACC 100
Keith Whelan
ACC 100 Lecture Notes - Lecture 5: Gross Profit, Income Statement, Revenue Recognition
24HR
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ACC100 - L5: Income and the Income Statement The Revenue Recognition Principle ● Revenue: increases economic resources resulting from ordinary activities such as the sale of goods, by rendering of services o...

Accounting
ACC 100
Keith Whelan
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

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