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Textbook Notes for Accounting at Georgia Institute of Technology (GT)


GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 8: Income Statement, Fixed Asset, Treaty Of Fort Stanwix

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Chapter 8: reporting and interpreting property, plan and equipment; intangibles; and natural resources. Long lived assets: resources that determine a c
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 10: Callable Bond, Cash Cash, Interest Expense

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Companies issue both stocks and bonds to raise capital. Interest associated with bonds is tax deductible, interest expense is tax deductible. Issuing b
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GEORGIA TECHACCT 2101BlunckSpring

ACCT 2101 Chapter 1: Textbook Notes_ Chapter 1

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Accounting a system of maintaining records of a company"s operations and communicating that information to decision makers. Suppliers decide the custom
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 1: Net Income, Accounts Payable, Sole Proprietorship

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Stockholders: owners of the company; whether it be one or many owners. Make money off of dividends and higher stock prices. Creditor: lenders that help
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 9: Deferred Income, Finance Lease, Operating Lease

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Liabilities: probable future sacrifice of economic benefits that arise from past transactions. Interest on liabilities isn"t recorded as the original c
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 13: North American Industry Classification System, Financial Statement, Inventory Turnover

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Investors are the largest group of people who use financial statements. Factors to consider when thinking of investing in stock - impact future income
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 12: Accrual, Free Cash Flow, Retained Earnings

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Statement of cash flows explains how the amount of cash on the balance sheet at the beginning of the period has become the amount of cash reported at t
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 11: Stock Split, Dividend Policy, Xavier'S Security Enforcers

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Corporations are created by applying to a state government. Residual claim: receive a proportional share of the remaining assets when the company liqui
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 6: Credit History, Income Statement, Revenue Recognition

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Revenue recognition principle: companies record revenues when goods/services are given to customers in the full amount expected. Credit card discount:
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 4: Net Income, Trial Balance, Income Statement

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Chapter 4: adjustments, financial statements and the quality of earnings. Internal managers want to present information to creditors and investors that
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 3: Accrual, Trial Balance, Retained Earnings

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How do business activities affect the income statement. Business long-term objective: turn cash into more cash via operations. Operating (cash-to-cash)
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GEORGIA TECHACCT 2101RuparFall

ACCT 2101 Chapter Notes - Chapter 7: Financial Statement, Net Income, Weighted Arithmetic Mean

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Chapter 7: reporting and interpreting cost of goods. Nature of inventory and cost of goods sold. Inventory: tangible property held for sale in business
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