ADM 1340 Lecture 1: ADM 1340 Lecture : ADM 1340 Lecture : 1

Uses and users of accounting: accounting identifies and records the economic events of an organization and communicates to interested users. There are 

ADM 1340 Lecture Notes - Lecture 2: Income Statement, Share Capital, Accounting Equation

ADM 1340 Lecture Notes - Lecture 3: Current Liability, Income Statement, Retained Earnings

Results from some statements are used as data in other statements. Profit from income statement is reported in statement of changes in equity. Ending b

ADM 1340 Lecture Notes - Lecture 4: Book Value, Financial Statement, Accounts Payable

Tangible assets with relatively long useful lives: used in operating the business. Furniture: usually listed in order of permanency. Depreciation: allo

ADM 1340 Lecture Notes - Lecture 5: Financial Statement

ADM 1340 Lecture 6: ADM1320 lecture 6

Conceptual framework of accounting: guides decisions about: Measurement of the elements of financial statements. To provide financial information that 

ADM 1340 Lecture Notes - Lecture 7: Historical Cost, Accounting Equation, Financial Statement

Assets and liabilities should be recorded at their cost when acquired. Not only at time of purchase, but throughout the life of each asset and liabilit

ADM 1340 Lecture 8: ADM1320 LECTURE 8

If the greater sum is on the left, the account has a debit balance. If the greater sum is on the right, the account has a credit balance. Step 1: analy

ADM 1340 Lecture 9: ADM1320 LECTURE 9

Timing issues: companies need immediate feedback on how well they are doing, accounting divides the economic life of a business into artificial time pe

ADM 1340 Lecture Notes - Lecture 10: Deferral, Accrual, Financial Statement

ADM 1340 Lecture 11: ADM1340 LECTURE 11

After all closing entries are journalized and posted: proves that total debit balances and total credit balances are equal after the closing entries ha

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This course introduces students to the financial statements of an organization and the accounting system that produces them. Emphasis is placed on understanding the role the financial statements play in communicating meaningful information about the firm, and how estimates and accounting policy choices affect the numbers in the statements.

Financial Accounting

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