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Class Notes for Accounting at George Mason University

Exam Study Guides for Accounting Courses

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ACCT 203 Lecture Notes - Lecture 18: Afrika Bambaataa, N.W.A, Gaetano Donizetti
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GMU ACCOUNTING 203 Lecture 18 Afrika Bambaataa pioneering hiphop DJ 1 of earliest rap hit records with Planet Rock Grandmaster Flash primary innovator of DJ techs role of DJ: 1. extensive record collection 2. great sound s...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 23: GMU ACCOUNTING 203 Lecture 23
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GMU ACCOUNTING 203 Lecture 23 Damaged and obsolete goods (and deteriorated) goods are not reported in inventory if they cannot be sold. Net realizable value is sales price minus the cost of making the sale. Costs to includ...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 22: GMU ACCOUNTING 203 Lecture 22
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GMU ACCOUNTING 203 Lecture 22 Proportional (flat) tax: A proportional tax is a tax imposed so that the tax rate is fixed, with no change as the taxable base amount increases or decreases. Progressive Tax System The tax rat...

Accounting
ACCT 203
Harley
ACCT 203 Lecture Notes - Lecture 24: Balanced Scorecard
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GMU ACCOUNTING 203 Lecture 24 Budget performance report A report comparing actual results with budget figures. Budgeted variable factory overhead The standard variable overhead for the actual units produced. Cont...

Accounting
ACCT 203
Harley
ACCT 203 Lecture Notes - Lecture 25: Transfer Pricing, Profit Center, Profit Margin
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GMU ACCOUNTING 203 Lecture 25 Controllable revenues Revenues earned by the profit center. Cost center A decentralized unit in which the department or division manager has responsibility for the control of costs incurred an...

Accounting
ACCT 203
Harley
ACCT 203 Lecture Notes - Lecture 17: General Ledger, Accounts Receivable, Trial Balance
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GMU ACCOUNTING 203 Lecture 17 What is a receivable? An amount due by another party. The supplementary record providing information on each customer is called the _____. accounts receivable ledger A credit sale is posted to...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 21: GMU ACCOUNTING 203 Lecture 21
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GMU ACCOUNTING 203 Lecture 21 Wealth taxes Real property taxes. A levy on the total value of personal assets, including: bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated busine...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 12: Class note 12
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Class note 12 Balance Sheet Equation Assets = Liabilities Owners Equity Assets Resources that provide futurecurrent economic benefit Liabilities Measurable amounts that a company owes to creditors Owners Equity an owners ...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 20: GMU ACCOUNTING 203 Lecture 20
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GMU ACCOUNTING 203 Lecture 20 Bailey Company has 200,000 of accounts receivable on December 31, 2013. The unadjusted balance of its Allowance for Doubtful Accounts is a debit of 9,000. An aging of its accounts receivable s...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 10: Class note 10
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Class note 10 Accounting system the personnel, procedures, devices, and records used by an organization to develop accounting information and communicate that information to decision makers American Accounting Association ...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 7: Class note 7
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Class note 7 Sole Proprietorship One owner; not incorporated. Legally not in the name of the business. One entity. Owner of business is liable for all debts Owner is the business Partnership More than one owner; not incorp...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 2: Class note 2
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Class note 2 CostVolumeProfit Chart A third way to find the breakeven point (other two are Formula Method and Contribution Margin Income Statement). We follow three steps to prepare a CVP chart: 1) Plot fixed costs on the ...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 5: Class note 5
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Class note 5 Current Liabilities Debts that are due for payment within one year Notes Payable Written promises to repay amounts borrowed plus interest (Liability) Accounts Payable Amounts a company owes to suppliers of mer...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 4: Class note 4
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Class note 4 operation Operating Activities Includes cash receipts and cash payments for transactions relating to revenue and expense activities Investing Activities includes cash transactions involving the purchase sale ...

Accounting
ACCT 203
Harley
ACCT 203 Lecture 3: Class note 3
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Class note 3 Inventory Items a company intends for sale to customers Fifo (First in, First out) Inventory costing method that assumes that the FIRST units purchased are the FIRST ones sold Lifo (Last in, First out) Invento...

Accounting
ACCT 203
Harley
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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