In this video series, we explain basic concepts related to financial accounting. This third video explains the concept of assets. We will understand the definition of an asset, its properties and the asset classification in a Balance Sheet.The revenue generating capability of the firm comes from the quantity and quality of its assets but it may not always be true in all situations. From an accounting perspective, there are numerous types of assets- fixed, current, investments, fixed, tangible and intangible and other non-current assets.
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'Learning about the basic accounting concepts'
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The benefits of having a global set of global accounting standards would be astronomical. Having one set of standards would give users of financial statements a better ability to evaluate an entity's financial standing; also, it would help investors and creditors make intelligent decisions. With the U.S. under pressure to comply with IFRS, the IASB and FASB have made major strides in converging standards. But by not immediately giving into pressure to adopt IFRS, the U.S. has also given the IASB incentive to provide stronger and improved standards. In the case of offsetting derivatives, a solution was not met in the form of a new standard, but both the FASB and IASB agreed on new disclosure requirements which will help give a better picture of an entity's financial standing. Delete the scoop?
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35 slides describing the accounting concepts and principles. Delete the scoop?
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Accounting principles focus on the users of accounting information. Principles have developed over a long period of time, and are continuously subject to revision as information needs change. This article deals with a review of accounting concepts and principles which are:1) business entity, 2) going concern, 3) objective evidence, 4) unit of measurement, 5) accounting period, 6) matching revenues and expenses, 7) adequate disclosure, 8) materiality, 9) consistency, and 10) conservatism
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A sound article explaining the concepts and principles that underpin the recording, classifying and reporting of financial transactions in the accounting system. Delete the scoop?
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A collection of over 30 free key accounting articles that serve as a primer for beginners and a refresher for those who already have background in accounting. It aims to build and solidify one's knowledge of the fundamentals which are vital in pursuing higher accounting studies and building a successful career in it. Artciles are grouped by: 1 - Introduction to Accounting 2 - Fundamental Accounting Concepts 3 - The Financial Statements 4 - Analyzing, Recording and Classifying Transactions
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One of the best free online resources I have found for anyone wanting to gain an understanding of basic accounting concepts. Delete the scoop?
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The second free online course in Bookkeeping, brought to you by Home Learning College's tutor, Jo Frediksen. Find out more about difference between straight vs. reducing balance depreciation methods in this short online tutorial. Delete the scoop?
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Several International companies are greatly relying on the data given by Managerial Accounting Information System. Bank of America for example are gauging their marketing performance across the globe through the real-time financial report, even the supply-chain of the non-profit operation of Red Cross is using the financial information to monitor their marketing operation effectiveness. Coca-Cola and 7-eleven International operation further reveals its dependence towards accounting data used in real-time streaming performance through their global internet data feed. Delete the scoop?
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Accounting Standards: Introduction to IFRS Delete the scoop?
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Michael A. Perez, CPA provides a course to help people: Understand accounting concepts and principles.Prepare basic financial statements for service and merchandising business.Delete the scoop?
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The eBooks are designed specifically for students of accounting and/or individuals wanting to learn bookkeeping, start their own bookkeeping business or brush up on their accounting knowledge. These topical eBooks are written in a classroom lecture format using examples to stress important points with easy to understand language. Here is the first 40% of the eBook that can be purchased in full for a very small fee.
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Brian Routh has been an accounting professor for more than a decade. He has developed over 90 FREE accounting videos for YouTube. Delete the scoop?
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Accounting is an important part of any business. It provides the financial snapshot we need in order to make informed decisions regarding the current and future health and performance of our business.
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A comprehensive article about basic accounting principles every small business owner should understand by Tom Perkins, a fitness business coach/adviser; a radio host, speaker and author; and a certified personal trainer and nutritionist. Tom covers topics like: Terminology and General Principles, Accounting Method, Debits and Credits, Income & Expenses, Assets and Liabilities, Financial statements, Master Budgets and a Glossary.
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A free tutorials, lecture notes, downloads and educational lecture videos on a Management Accounting course by Prof. Asokan Anandarajan of the New Jersey Institute of Technology.The course gives students insights into the key financial accounting concepts needed for effective decision-making.
Lectures include: Delete the scoop?
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For many businesses, the issue about where to get funds from for starting up, development and expansion can be crucial for the success of the business. It is important, therefore, that you understand the various sources of finance open to a business and are able to assess how appropriate these sources are in relation to the needs of the business. This article by Biz/ed covers them all in great detail. Delete the scoop?
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Great resource of over 80 YouTube videos from Brian Routh "The Accounting Dr" explaining everything about accounting.
Brian Routh have been an accounting professor for more than a decade. He have witnessed the struggles that many students go through when introduced to a new accounting topic. He has developed FREE accounting videos, lecture notes, and games, as well as exam questions and eBooks to assist in the success of accounting students in the classroom and individuals wishing to learn the basics of accounting. Delete the scoop?
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This is an analogy to describe the accounting equation. Delete the scoop?
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Posts about basic Business Financials – Easy 101 written by accountkeepingplus - MYOB Certified Consultant – Paul Humphreys Delete the scoop?
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A worksheet from Biz/ed to help students understand suspense accounts. This worksheet deals with: 1 - Errors not revealed by the trial balance
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A very useful worksheet for a very difficult area of accounting. Delete the scoop?
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The Statement of Cash Flows is unmistakably the most difficult of the financial statements to prepare. With three sections, operating activities, investing activities, and financing activities, students often find the statement of cash flows to be a bit challenging to master. In financial accounting, students first have to assimilate to the idea of accrual accounting where revenues are recorded when earned and expenses are recorded when incurred (revenue recognition principle and matching principle). When students finally have this topic down they are asked to complete the statement of cash flows which only represents cash inflows and outflows (the opposite of accrual accounting). Therefore, instead of taking balances from the ledger accounts and placing them on a financial statement (i.e. balance sheet, income statement) we have to look at the changes in the account balances (i.e. change from beginning balance to ending balance) Delete the scoop?
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Accounting Conventions - The term convention means 'established usage.' Conventions are based on practicability and usage. For example, the relationship of 12 units forming a dozen is a convention. Delete the scoop?
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This list features the top accounting and finance blogs from both the collaborative and individual blogging circles, covering a wide range of topics within the industry including taxes, personal finance, investing and more. Read on for our picks for the best Accounting and Finance blogs of 2012. 
Rebekah Brown, CPA's comment,
March 7, 10:15 AM
Great list but your missing CPA Sucess http://www.macpa.org/blog/
Richard N Camp's curator insight,
March 19, 2:09 AM
good post.. a list of accounting & finance blogs that should be needed for every accountants but also have a look at this- www.goo.gl/q1aGj Delete the scoop?
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Accounting is a broad subject that covers how financial information about businesses is communicated to its users including shareholders, creditors, investors and others. This sections provides tutorials and other resources related to accounting. Delete the scoop?
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"Here are free resources, articles, stories and presentations that will give you a better sense of Lean Accounting, what it is, and how it can benefit your organization." Brian Maskell.
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Resources provided by BMA Inc. who serves the needs of companies striving to become world class organizations. In particular they provide training and consulting services that intertwine lean acounting with lean manufacturing to meet the challenges of the 21st century. Delete the scoop?
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This is the first video of the 10 video tutorial series on financial accounting. This simple video presents the overview of the subject - what is accounting,... Delete the scoop?
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Accounting Education is a not-for-profit educational organization created by Prof. Vinod Kumar for helping you in taking maximum advantage of the accounting, finance and education.
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A good resource of over 100 financial accounting articles written by Prof. Vinod Kumar covering Accounting Principles, Concepts and Equations, Accounting System or Basic Accounting Procedure, Ledger Creation, Trial Balance, Final Account and its Adjustments, Rectification of Errors, Bank Reconciliation, Bill of Exchange, Partnership Accounts and Depreciation Delete the scoop?
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Comprehensive teaching/learning resources on Financial Accounting from Bized including Lesson Plans, Worksheets, Mind Maps, Case studies, Simulations and Activities.
Topics cover Cash Flow, Ratio Analysis, Depreciation, ROCE, Costs, Break-Even, Sources of Finance, Profit and Loss Account Delete the scoop?
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Its a Blog Related To Accounting and all its basics Delete the scoop?
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