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Class Notes for 33:010:272 at Rutgers University

RUTGERS33:010:272MorthySpring

33:010:272 Lecture 1: Chapter 1 Outline - Intermediate accounting.docx

OC4342054 Page
27 Mar 2015
62
Intermediate accounting 1: essential characteristics of accounting are the identification, measurement and communication of financial information about
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RUTGERS33:010:272AdessoFall

33:010:272 Lecture Notes - Lecture 2: Limited Liability, Retained Earnings, Common Stock

OC10132822 Page
28 Nov 2016
1
Partnership: 2 or more, general unlimited liability. Basic accounting equation: assets = liabilities + stockholders equity: claims of creditors (liabil
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RUTGERS33:010:272westcottSummer

33:010:272 Lecture Notes - Lecture 3: Trial Balance, The Ledger

OC11239483 Page
25 Aug 2016
3
The ledger of lafayette, inc. on march 31, 2014, includes the following selected accounts before adjusting entries. An analysis of the accounts shows t
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RUTGERS33:010:272WassermannFall

33:010:272 Lecture Notes - Lecture 1: Trial Balance, Financial Statement, Accounts Payable

OC12943953 Page
1 Nov 2016
3
More debits than credits = normal debit balance. More credits than debits = normal credit balance. How to find retained earnings: net income - dividend
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RUTGERS33:010:272westcottSpring

33:010:272 Lecture Notes - Lecture 1: International Accounting Standards Board, Financial Accounting Standards Board, Management Consulting

OC8435372 Page
29 Jan 2017
4
Generally accepted accounting principles: financial statements (balanced sheets, income statements, statement of stockholders equity, statement of cash
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RUTGERS33:010:272E WassermanSpring

33:010:272 Lecture Notes - Lecture 2: Retained Earnings, Net Income, Income Statement

OC25519186 Page
31 Jan 2019
0
Stockholders" equity column is effect on stockholders" equity. Cash decreases but equipment increases, so now net change. Placed ad in paper - incur ex
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RUTGERS33:010:272E WassermanSpring

33:010:272 Lecture 1: Financial Accounting Week 1 Lecture Notes - 01_23_2019

OC25519184 Page
24 Jan 2019
0
What price should company charge to maximize net. Net income is representation of how profitable a company was in a given year. Accounting consists of
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RUTGERS33:010:272AdessoFall

33:010:272 Lecture Notes - Lecture 2: Gross Margin, Budget

OC3934336 Page
8 Dec 2015
22
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RUTGERS33:010:272E WassermanSpring

33:010:272 Lecture 4: Week 4 - Part 1 - 02_13_2019 (1)

OC25519182 Page
14 Feb 2019
0
Make a difference in a business decision. Provides information that has predictive value and confirmatory value. Materiality is a company-specific aspe
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RUTGERS33:010:272wassermanFall

33:010:272 Lecture Notes - Lecture 1: Accounting Equation, Accounts Payable, Income Statement

OC11663783 Page
15 Sep 2016
9
Historical cost principle (or cost principle) dictates that companies record assets at their cost. Fair value principle states that assets and liabilit
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RUTGERS33:010:272Evan WassermanFall

33:010:272 Lecture Notes - Lecture 5: Accrual, Trial Balance, Revenue Recognition

OC25000683 Page
19 Sep 2018
0
Time period assumption artificial time periods (month, quarter, year) Fiscal year accounting time period that is one year in length. Calendar year janu
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RUTGERS33:010:272AdessoFall

33:010:272 Lecture Notes - Lecture 4: Retained Earnings, Trial Balance, Income Statement

OC10132822 Page
28 Nov 2016
0
Worksheet starts from trial balance: see book for steps. Co(cid:373)pa(cid:374)y"s i(cid:374) their first period do(cid:374)"t have retai(cid:374)ed ea
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