Comment les transactions affectent les comptes de résultat et bilans
Loading
Précédent Previous slide Next slide Suivant

Comment les transactions affectent les comptes de résultat et bilans

  • Study Reminders

    Set your study reminders

    We'll email you at these times to remind you to study

    You can set up to 7 reminders per week

    You're all set

    We'll email you at these times to remind you to study

    Monday

    -

    7am

    +

    Tuesday

    -

    7am

    +

    Wednesday

    -

    7am

    +

    Thursday

    -

    7am

    +

    Friday

    -

    7am

    +

    Saturday

    -

    7am

    +

    Sunday

    -

    7am

    +
  • Notes d'étude
  • Révisions du sujet
    Md.Nur-E- A.
    BD
    Md.Nur-E- A.

    All transaction are important actually balance sheet reflects the solvency of the company

    Md.Nur-E- A.
    BD
    Md.Nur-E- A.

    why keep the retained earnings statement?

    Kooagile K.
    BW
    Kooagile K.

    the transactions can affect income statements and balance sheets because each transaction involve two corresponding entry debit & credit which need to be balanced first before entering it to the income statement and balance sheet

    Ibrahim B.
    SL
    Ibrahim B.

    I cannot view the notes

    Kangira J.
    UG
    Kangira J.

    Transaction that affect Income Statements are as follows: 1. Revenues The revenue section of the income statement can be further broken down into two categories: operating revenue and non-operating revenue. The transactions that fall under operating revenue include items such as sales, discounts and returns. Transactions under non-operating revenue include interest income, dividends, commissions, rental income, gain on sale of assets and other unusual gains. Each of these transactions will have a direct effect on the firm's overall profit or net loss. 2. Expenses Expenses make up the other major category on the income statement and they can be further broken down into three groups: cost of sales or goods sold, operating expenses and non-operating expenses. The cost of sales or goods sold category is self-explanatory and contains transactions related to the cost of goods that are manufactured or purchased and then sold. Transactions that fall under operating expenses include insurance premiums, rent, depreciation, wages, salaries and supplies. Non-operating expenses include donations, penalties and income taxes. Each of these transactions will also affect the firm's profit or losses. 3. Profits The last section of the income statement is left for calculating the firm's net profits or losses. By adding together all the transactions in the revenue section and subtracting all the transactions in the expenses section from that figure, the firm's financial health can be determined. If the resulting figure is a positive number, the firm is posting a profit. However, if the figure is a negative number, the firm is reporting a loss. The Transactions that affect the Balance Sheet is has follows: 1. Purchases and Sales of Assets The purchase of assets for cash affects the balance sheet by reducing the cash account and increasing the fixed-assets account. While both of these accounts are listed in the asset portion of the balance sheet, cash is part of the current assets section and fixed assets are part of the long-term assets section. 2. Purchases on Credit When a company purchases supplies or inventory on credit, the business will debit the asset account (supplies or inventory) and credit the accounts-payable account. Almost always, accounts payable are considered to be current liabilities and are shown at the top of the liabilities section of the balance sheet. 3. Equity Transactions Transactions involving equity affect the company's balance sheet. When a company issues common stock, the company debits a cash account for the proceeds from issuance of stock and credits the equity account. The transaction becomes more complicated when the stock is sold at greater than par value. While most transactions that involve equity affect the balance sheet.

    Frank K.
    GH
    Frank K.

    Income statement Statements revels the company's profitability for a period of time, basically operating issues whereas Balance sheet shows the financial position of an organization within a particular period of time. In this instance, when transactions are not treated well or passed through the right source of account its effects on either the Income statement or the Balance sheet might either overstate or understate the ending balances of each and might mislead.

    Michaela Umu L.
    SL
    Michaela Umu L.

    A company's balance sheet is a snapshot of the company's financial standpoint at a given point in time. While nearly all business activities end up reflected in the balance sheet at some point, transactions that involve assets, liabilities and equity affect the balance sheet immediately. By understanding accounting transactions that affect the balance sheet, you can make sure that you consider the accounting ramifications of your business decisions before you complete the proposed transactions.

    Michaela Umu L.
    SL
    Michaela Umu L.

    how do I get a note from this?

    Rose R.
    PG
    Rose R.

    The balance sheet (B/S, or statement of financial position) is one of the four primary financial reports (financial accounting statements) that publicly held companies must file every quarter and year. . The income statement is a financial accounting report showing a company's income (earnings) for a given time period, including primarily the period's revenues and expenses that result in that income.

    CHRISTOPHER B.
    GH
    CHRISTOPHER B.

    what is the difference between income statement and balance sheets in accounting and how do they affect our day - to - day activities?

Notification

You have received a new notification

Click here to view them all