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ACCG101 Study Notes

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Very comprehensive study notes, that will be extremely helpful when studying for the final exam

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81 Pages Complete Study Notes > 2 Years old
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5 Ex Credits


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Topics this document covers:
Generally Accepted Accounting Principles Financial statements Accounting systems Financial accounting Cash flow Income statement Chart of accounts Account Balance sheet Cash flow statement Debits and credits Historical cost
This is a Complete Set of Study Notes

Complete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics.

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Topics this document covers:
Generally Accepted Accounting Principles Financial statements Accounting systems Financial accounting Cash flow Income statement Chart of accounts Account Balance sheet Cash flow statement Debits and credits Historical cost
Sample Text:
• People inside a business use accounting information to help determine and manage costs, set selling prices and control the operations of the business. • People outside the business use accounting information to help make investment and credit decisions about the business. - PRIVATE ENTERPRISE • Businesses in most countries operate in an economic system called private Enterprise. • In this system, individuals own business’ that produce and sell services and/or goods for a profit. • These business’ generally fall into three categories, Service, Merchandising and Manufacturing. o SERVICE BUSINESS • Service businesses perform services or activities that benefit individuals or business customers. • Professional practices such as accounting, law and medi...
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