BASIC ACCOUNTING CONCEPTUAL MAP

ACCOUNTING

Accounting is what has allowed us to know how a company obtains its income, how it spends money, what assets it has, etc. Its allows to record the economic facts that a company carries out and thanks to that registration it is possible to know the financial and economic status of the company.

THE FINANCIAL STATEMENTS

is a list of monetary figures, which are linked to the operation of a business or company and are presented in a specific order. These figures have as main objective to provide information about the operation and situation of the business or company

BALANCE SHEET

ICOME STATEMENTS

It is the main financial statement of a company that represents what it has and what it owes.

The balance sheet is a summary of everything the company has, what it owes, what it owes and what really belongs to its owner, at a certain date.

When preparing the balance sheet, the entrepreneur obtains valuable information about his business, such as the status of his debts, what he must collect or the availability of money at the time or in the near future

ASSETS

Is a good that the company owns and can ve converted into money or other equivalent means. Its are of a debit nature

Current assets:

They are those assets that are easier to become cash during the normal period of business operations.

BOX, CASH

is the money that is available in the desk drawer, in the pocket and the unwritten checks per day.

BANK

It is the money that is held in the bank's current account.

Accounts Receivable

It is the balance of collecting credit sales and that customers still owe, bills of exchange loans to operators and friends. Also included are checks or bills of exchange receivable either because the due date has not arrived or because the people who owe you have not met the agreed deadlines.

Is a financial statement showins the revenues and expenses of company over a period of time

scope

REVENUES

EXPENSES

Is money that a company tthey are earned

accounting principles

principio de reconocimiento

The accounting guideline requiring to revenues be shown on the income statement in the period in wich they are earned, not in the period when the cash is collected

The cost incurred in or required for something

accounting principles

matching principle

States that all expenses must be matched in the same accounting period as the revenues they helped to earn

LIABILITIES

stockholder equity

Is the total amount of capital given to a company by its shareholders in exchange for stock, plus any donated capital or retained earnings

SCOPE

-Common stock.

-Paid-in capital

-Par value common stock

-Preferred stock

-Retained earnings

-Stock

NON-CURRENT ASSETS

It is that asset that is only capable of becoming cash in a period greater than one year, in the medium or long term.

PROPERTY PLANT Y EQUIPMENT

We include all the goods that will be used in the normal production process of the company.

Long-term financial investments

the acquisition of long-term fixed income securities, shares and capital contributions.

It is all that the company owes to third parties and represent outflow of resources.

Current liabilities

Are those liabilities that the company must pay in a period of less than one year.

Accounts payable to suppliers

It is the value of debts incurred for purchases made on credit to suppliers.

customer deposits

It is the value of money that a client anticipates for a job not yet delivered.

Long-term liabilities

Are those assets that the microenterprise must pay in a period greater than one year, such as bank obligations, etc.

are the commitments acquired by the company for loans obtained with banks, whose amount must be paid in the term of the debt, in a time of one year or more time

long-term financial obligations

BASIC ACCOUNTING CONCEPTUAL MAP

BY:

VICTOR MALDONADO

SINDIS ALVARINO

ZHOAR

VALENTINA JIMENEZ