BUS 1050 Foundation of business
djb95
Accounting.pptit2.ppt
ACCOUNTING SYSTEM
BUS 1050
Alan Sandomir
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BUS 1050
Alan Sandomir
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The Accounting System
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BUS 1050
Alan Sandomir
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Sample of Specific Account Titles in General Accounting Classifications
| For the Balance Sheet | For the Income Statement | ||||||
| Assets | Liabilities | Owner's Equity | Revenues | Cost of Goods Sold | Expenses | ||
| Accounts receivable | Accounts payable | Capital stock | Sales revenue | Cost of buying goods | Wages | Interest | |
| Inventory | Notes payable | Retained earnings | Rental revenue | Cost of storing goods | Rent | Donations | |
| Investments | Bonds payable | Commissions revenue | Repairs | Licenses | |||
| Equipment | Taxes payable | Royalty revenue | Travel | Fees | |||
| Land | Insurance | Supplies | |||||
| Buildings | Utilities | Advertising | |||||
| Motor vehicles | Entertainment | Taxes | |||||
| Goodwill | Storage | ||||||
| Cash |
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BUS 1050
Alan Sandomir
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Steps in the Accounting Cycle
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BUS 1050
Alan Sandomir
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Financial Planning
Financial
plan
Long-term
forecasting
Cash
budget
Operating
budget
Financial
controls
Capital
budget
Master
budgeting
Short-term
forecasting
Feedback
Feedback
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BUS 1050
Alan Sandomir
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Sample of Different Bonds Available in the Market
| Bond | Description | |
| Collateral trust | These bonds are secured by the general credit of the issuer as well as the specific property for which they are issued. | |
| Convertible bond | These bonds can be exchanged for another security, usually common stock. | |
| Coupon bond | These bonds have coupons attached; the bondholder submits the coupons to an agent for the payment of interest. | |
| Debenture | These bonds are secured only by the general credit of the firm plus any unpledged assets. | |
| Mortgage bond | These bonds are secured by real property (for example, buildings). | |
| Municipal bond | These bonds are issued by the state or local government; interest rates are exempt from federal taxes. | |
| Yankee bond | These bonds are issued by a foreign government and are payable in U.S. dollars. | |
| Zero-coupon bond | These bonds pay no interest prior to maturity; the return comes from the difference between purchase price and the face (par) value. |
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BUS 1050
Alan Sandomir
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Sample of Different Stock Available in the Market
| Stock | Description | |
| Classified common stock | This stock consists of two or more classes of common stock that have different voting rights or claims on dividends. For example, class A common stock may go to the general public and class B to the original owners. Class A stock may carry no voting rights, but its holders may receive larger dividends. The owners thus retain control of the firm. Facebook and Snap make few voting shares available to A shareholders (2017) | |
| Convertible preferred (no voting rights) | This stock can be exchanged for shares of common stock at a predetermined exchange rate. | |
| Cumulative preferred (no voting rights) | This stock pays a dividend every year. If the dividend is not paid, the amount owed accumulates and must be paid before common stockholders receive any dividends. |
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BUS 1050
Alan Sandomir
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Dow Jones 30 Industrial Stocks--2016
S&P 500 Companies: http://www.grainmarketresearch.com/spx_symbols.cfm
| 3M |
| Alcoa |
| Altria Group |
| American Express |
| American International Group |
| AT&T |
| Apple |
| Boeing |
| Citigroup |
| Coca-Cola |
| DuPont |
| Exxon Mobil |
| General Electric |
| General Motors |
| Hewlett-Packard |
| Home Depot |
| IBM |
| Intel |
| Johnson & Johnson |
| JPMorgan Chase |
| McDonald's |
| Merck |
| Microsoft |
| Pfizer |
| Procter & Gamble |
| Amazon |
| Verizon Communications |
| Wal-Mart |
| Walt Disney |
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BUS 1050
Alan Sandomir
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A Comparison of Theories X Y and Z
| Theory X | Theory Y | Theory Z | |||
| 1. | Employees dislike work and will try to avoid it. | 1. | Employees view work as a natural part of life. | 1. | Employee involvement is the key to increased productivity. |
| 2. | Employees prefer to be controlled and directed. | 2. | Employees prefer limited control and direction. | 2. | Employee control is implied and informal. |
| 3. | Employees seek security, not responsibility. | 3. | Employees will seek responsibility under proper work conditions. | 3. | Employees prefer to share responsibility and decision making. |
| 4. | Employees must be intimidated by managers to perform. | 4. | Employees perform better in work environments that are nonintimidating. | 4. | Employees perform better in environments that foster trust and cooperation. |
| 5. | Employees are motivated by financial rewards. | 5. | Employees are motivated by many different needs. | 5. | Employees need guaranteed employment and will accept slow evaluations and promotions. |
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