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Class Notes for Accounting at Eastern Michigan University

ACC 342 Lecture Notes - Lecture 3: Income Statement, Unit, Stock Split
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Gross Profit Percentage Gross Profit / Net sales - Percentage of sales proceeds left over to cover remaining expenses - Higher is better Net Sales = Sales Revenue - Allowances and Discounts and Returns Gross Prof...

Accounting
ACC 342
Jens
ACC 342 Lecture Notes - Lecture 6: Limited Liability Company, Limited Liability, Sole Proprietorship
Exam
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find more resources at oneclass.com *Provide information to enhance controls *Basis for management decisions *Deals with proposed events Tax Accounting Preparation and filing of taxes -Federal, state, and local -income tax...

Accounting
ACC 342
Jens
ACC 342 Lecture Notes - Lecture 4: Public Company Accounting Oversight Board, Child Custody, Internal Control
Exam
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find more resources at oneclass.com More responsibilities on corporate executives and boards of directors to ensure that companies internal controls are reliable and effective. Created the Public Company Accounting Oversig...

Accounting
ACC 342
Jens
ACC 342 Lecture Notes - Lecture 1: Financial Accounting Standards Board, Cash Flow Statement, Cash Cash
Exam
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find more resources at oneclass.com Accounting System that collects and processes (analyzes, measures, and records) financial information about an organization and reports that information to decision makers. Accounting en...

Accounting
ACC 342
Jens
ACC 342 Lecture Notes - Lecture 5: Cash Flow, Matching Principle, Net Income
Exam
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find more resources at oneclass.com What does the Income Statement do? Reports increase in shareholders equity due to operations over a period of time. Is also called earnings or net profit. What is the income statement eq...

Accounting
ACC 342
Jens
ACC 342 Lecture Notes - Lecture 2: Financial Accounting Standards Board, International Accounting Standards Board, Limited Liability
Exam
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find more resources at oneclass.com financial statements business documents that companies use to report the results of their activities to various user groups which can include managers, investors, creditors, and Regulato...

Accounting
ACC 342
Jens
ACC 342 Lecture Notes - Lecture 7: Retained Earnings, Accounts Payable, Accrual
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find more resources at oneclass.com Basic Accounting Equation assets= liabilities + stockholders equity Assets -own -debit -economic resources presently controlled by the company that have measurable value and are expected...

Accounting
ACC 342
Jens
ACC 296 Lecture Notes - Lecture 1: Plat, Intestacy, Mnemonic
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find more resources at oneclass.com receipt for real estate (Deed is NOT your title) Title (legal) ownership of real estate Own real estate because of chain of title Metes and Bounds Survey outlines the property in directi...

Accounting
ACC 296
Brickner
ACC 296 Lecture 2: acc 296 course notes (2)
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a)a conditionacknowledgement. b)an explanation of forfeiture. c)a penalty clause. d)a provision clause. b)an explanation of forfeiture. In order for a deed to be a valid instrument, the grantee must not be a)incompetent. b...

Accounting
ACC 296
Brickner
ACC 296 Lecture Notes - Lecture 5: Real Estate Settlement Procedures Act, Escrow, Escheat
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find more resources at oneclass.com A list of all owners of a property from the first to the present Abstract of Title A complete history of all recorded events affecting title to the property Title Report A report outlini...

Accounting
ACC 296
Brickner
ACC 296 Lecture Notes - Lecture 3: Title Search, Listing Contract, Seisin
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receipt for real estate, conveys (transfer) title Legal title: ownership of real estate, not a physical thing, habendum clause: to have and tol hold Cloud on title: something wrong with the ownership of the propert...

Accounting
ACC 296
Brickner
ACC 296 Lecture 4: acc 296 course notes (4)
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To seperate yourself from the property; to sell May activate the due on sale clause, which will accelerate the loan balance, requiring it be payed in full accesion Increase in the property owned by natural or human-made ad...

Accounting
ACC 296
Brickner
ACC 296 Lecture Notes - Lecture 8: Escrow, Escheat, Adverse Possession
Exam
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find more resources at oneclass.com a list of all owners of a property from the first to present abstract of title a complete history of all recorded events affecting title to the property title report a report outlining t...

Accounting
ACC 296
Brickner
ACC 296 Lecture Notes - Lecture 6: Quitclaim Deed, Title Insurance, Quiet Title
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find more resources at oneclass.com A summary or digest of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other element...

Accounting
ACC 296
Brickner
ACC 296 Lecture Notes - Lecture 7: Escrow, Escheat, Adverse Possession
Exam
Premium

find more resources at oneclass.com A list of all owners of a property from the first to the present Abstract of title A complete history of all recorded events affecting title to the property Title Report A report outlini...

Accounting
ACC 296
Brickner
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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