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/biz/ - Business & Finance


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15731820 No.15731820 [Reply] [Original]

Its in 30 hours
If i dont pass my exam, ill never become a sugar for my hooker wife.

PLEAAAASE

its 3 chapters.
I failed my first accounting class.

HELP ME ACCOUNTANTS OF BIZ

>> No.15731824

>>15731820
does that have futanari in it?

>> No.15731835

>>15731820
Fucking brainlet. Accounting? Shits easy

>> No.15731842

>>15731824
probably, i just saved it from 4chan years ago

>> No.15731858

>>15731835
I failed it. its so hard. ;_;
i dont know what to do. Theres no way i can get a fucking A

I consider anything below an A- a fucking failure and an hero tier, cause i know anything below anything below 3.5 gpa is unhireable

i should of been gone to trades school

>> No.15731861

>>15731820
fuck youre retarded

>> No.15731864

Debits and credits. Assets plus liabilities = shareholders equity. Things that are debits are abbreviated with AED - assets, equity, and depreciation. Everything else is a credit. I remember that because debit is abbreviated with Dr. and Dr. also stands for doctor and doctors used AED devices to revive patients when they have heart attacks or some shit. Godspeed anon.

>> No.15731884

>>15731864
Damn bro, way to be a fucking patronizing retard.
It's Assets = L + E

>> No.15731889

>>15731820

Debits increase assets, equity, and expenses. It's pretty easy. What do you need help with?

>> No.15731893

>>15731842
ive never seen it. Care to share the source?

>> No.15731900

>>15731858
Yeah well its probably best to quit then because its only going to get harder.

>> No.15731904
File: 52 KB, 617x426, 1522411569824.jpg [View same] [iqdb] [saucenao] [google]
15731904

>>15731864
How do i remember the 4 financial statements?

How do i prepare each of 4 financial statements?

How do i tell whats a liability vs an expense?

Do I credit or debit expenses in shareholders equity?

>> No.15731937

>>15731884
It's both, you simpleton.

How about you tell us what u struggle with some we can offer something worth your time

>> No.15731942

>>15731904
Holy fuck, thats what textbooks and teachers are for, what have you been doing? lmao

Does your teacher give you practice problems?

>> No.15731956
File: 176 KB, 832x1200, 1529644043798.jpg [View same] [iqdb] [saucenao] [google]
15731956

>>15731942
ITS TOO MUCH TO REMEMBER!!!!

EXPENSE AND LIABILITY = SAME THING
ARE COGS EXPENSES?
WHY ARE INTERESTS SOMETIMES LIABILITIES AND SOMETIMES EXPENSES????

>> No.15731957
File: 257 KB, 360x239, happy elf eating ice cream.gif [View same] [iqdb] [saucenao] [google]
15731957

>>15731893
Kuroinu.

>> No.15731959
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15731959

>>15731904
This has to be bait

>> No.15731968

>>15731957
Does it have futanari scene or what?

>> No.15731977

>>15731904
lmfao. isn't this the shit they teach on the very first day of accounting 101?

>> No.15731982
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15731982

>>15731820
this may help

>> No.15732010

>>15731959
>>15731977
Stop making fun of me. please

>> No.15732024

>>15731968
Not with the elves. There was definitely a strapon, should be a futa too but just one and I'm not 100% sure.

>> No.15732031

>>15731968
No. It has strap-on

>> No.15732035

>>15731904
Liabilities are debts, expenses are what you pay to make revenue
Ex. When you take a loan from someone that's a liability. When you pay a worker his wages or spend money to buy or maintain equipment needed to produce your revenue those are expenses.
Expenses are debits.
Remember the 4 fin statements with acronym BICS or SCIB or whatever the fuck

Balance Sheet
Income Statement
Cash Flow Statement
Statement of Shareholder Equity

How you prepare them is too complex to describe in a text post on 4chan and I'm not making some up for you, you can google those yourself easily and you're lucky I even gave you this much info

>> No.15732042
File: 121 KB, 600x593, Kirisame.Marisa.600.1757560.jpg [View same] [iqdb] [saucenao] [google]
15732042

WHAT THE FUCK IS THE DIFFERENCE BETWEEN AN INVESTOR (whose external) AND A MANAGER (internal)

I THOUGHT INVESTORS ARE STOCKHOLDERS AND THAT STOCKHOLDERS RUN THE COMPANY

>> No.15732054

>>15732035
t-thanks

>> No.15732103
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15732103

Why the fuck are depreciation expenses in ASSETS!>?!?!?!?

I THOUGHT YOU ONLY RECORD THE PRICE YOU BOUGHT AN ASSET FOR ON BALANCE SHEET

BUT YOU NOW HAVE TO RECORD DEPRECIATION EXPENSE!!!!?

>> No.15732105

>>15732042
Investors hold a stake in the company but aren't employed by them, they have influence over decisions and have the potential to steer the company but don't physically control anything themselves

Managers are hired within the company to direct human capital according to the decisions made by the investors

>> No.15732124

>>15732105
t-thought so. thaks

>> No.15732137

>>15732103
Assets are expensed through depreciation on income statements.

>> No.15732141

>>15731904
Alright Anicunt, assuming not bait, you remember by repetition. My advice would be to get a shit ton of blank scratch paper that you dont care about and do the practice problems your teacher give you on those papers. There also a lot of practice problems and examples in the book (if you even have it). If you encountered anything concepts that you dont know, go back over to your book or look up on line

>> No.15732147
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15732147

>>15732137
w-w-WHAT
I THOUGHT INCOME STATEMENT IS JUST FOR REVENUEEEE

How the fuck does a building you own go through the income statement!!!???

ITS NOT A REVENUE

FUCK THIS SHITT

>> No.15732150

>>15731904
>>15732035


Also the best way to remember more than just the fucking names of the statements (you... you seriously should've known them by now) is to know their function.

I'll give you some of my notes just because I'm a nice guy. you better read them and understand them, or I'll fuck you up

>> No.15732155

>>15732031
>>15732024
thats fucking shit why didnt they just make them futanari. Not enough when chainlink moons im funding a jap studio to produce the worlds best futanari series.

>> No.15732167

>>15731904
>>15732035

First, some accounting concepts:


Historic cost: Assets in balance sheet must be valued at their original cost, since market value is hard to measure accurately. (feasibility, objectivity)

Duality concept: Every transaction has 2 effects. Sum of total assets=sum of total claims on the assets. every + needs a corresponding minus. Ensures balance in statements. (relevance, feasibility, reliability)

Realisation concept: Profit on an asset is reported only when asset is sold. i.e Value increase in property not recognised until asset is sold. In accrual we don’t need to wait until cash is received to recognise profit. (relevance, feasibility, reliability)

Matching concept: The revenues and expenses should be matched in the same accounting period regardless of timing of cash settlement. Profit is only meaningful if both revenues and expenses match. (relevance)

Accruals concept: Reflect rights and obligations to make and receive cash, not actual cash flows. Accruals go hand in hand with matching. Expenses arise through consumption of resources. Revenue includes credit sales. (relevance)

Conservatism/prudence concept: Always produce financial statements in a conservative and cautious manner. Recognise expected future losses immediately, when multiple alternatives always choose the lowest profit, lowest asset value and higher liability. Avoid if very unlikely, as criteria of reliability prevails over prudence. (reliability)

>> No.15732168

>>15732103
Depreciation expenses are assets because accounting is fucky and autistic about balancing the numbers out.
When shit gets old over time and depreciates in value it's basically money disappearing into thin air, so to balance that on a financial statement you have depreciation expenses (for each item/category of item) as the debit and for the credit you have accumulated depreciation (the total value of all debited depreciation).

>> No.15732177

>>15732141
I WENT TO CLASS EVERYDAY AND DID THE HOMEWORK. WHY AM I STILL FUCKING UPPPPP
>>15732150
t-thanks.
You can have a free sex with my hooker wife.

>> No.15732178

>>15732147
Shut the fuck up and read my posts you neanderthal.

>>15732167
Accounting is a way to measure a company’s performance. It can never be absolute truth due to the many variables.
The 3 criteria which guide the concepts of financial accounting:
1. Relevance, The figures are meaningful and relevant to the observer - Valuing a property at a 10 yr old price is meaningless.
2. Feasibility, Information can be collected easily and economically, accounting for every staple and sandwich is not productive.
3. Reliability, Info is unbiased, truthful and fair, free from subjective evaluation. Often a trade-off between relevance and reliability. Up to accountant to choose which to compromise.

>> No.15732192

>>15732177
>>15732178

Accounting principles:

Financial accounting encompasses info about businesses financials given to external stakeholders like banks, investors, etc. Must have the 3 finanncial statements.
FASB: Financial accounting standards board decides on the GAAP, generally accepted accounting principles. IASB International accounting standards boards give the IFRS, international financial reporting standards. Taxes have other rules than GAAP and IFRS. FASB is rule based, IFRS is principle based.
Fundamental accounting equation: Assets = liabilities + shareholders equity
Income statement show change in retained earnings between periods (like quarters), while cash flow show change in cash between periods. Firm with most pricing power stands out.
Leverage = debt: We indebt ourselves to get leveraged cash. The more financial leverage a firm has, the more debt they have taken on.

>> No.15732197

>>15732167
>historic costs
BUT I KEEP HEARING YOU HAVE TO ADJUST ASSETS FOR DEPRECIATION EXPENSE ON BALANCE SHEEEEET

All else is pretty good! t-thanks

>> No.15732202

>>15731820
There's no accountants here anymore anon, only brainlet social outcasts (/Pol/) and failed old fags who didn't make in 2017

>> No.15732215

>>15732192
>>15732197
BALANCE SHEET:
Assets:
– Cash - money the company has on hand
– Accounts receivable - money coming in
– Inventories - stuff the company owns
– Land & buildings -
– Equipment -
– Investments -
– Patents & Trademarks -
Assets are resources owned by the firm that will provide future financial benefit. Like inventories, accounts receivable. They’re also a result of a past transaction.
Asset valuation: Some assets are valued at the historical cost - like inventory, fixed assets and intangibles. Investments in stocks and bonds are valued at current market value.
Asset convertion: Current assets will be converted into cash within one year, concurrent are not.
Liabilities:
– Accounts payable -
– Salaries payable -
– Deferred revenue - revenue we haven’t earned yet. balances out the asset of upfront payment, but it’s an obligation to earn the revenue through keeping the promise.
– Taxes payable -
– Notes Payable -
– Bonds -
– Pension Liabilities -
– Lease Liabilities - Obligation of the firm, requires outflow of cash or other assets, are result of a past transaction.
– Current liabilities - will be paid within the year. Accounts payable, bills, notes payable and taxes.
– Noncurrents - are long-term debt, bonds, leases, deferred income taxes.
– Shareholders Equity - Also called net worth or book value. Assets - liabilities. Residual interest of the owners in the assets of the firm.
– Common stock - amount the firm received in their IPO. Not current market value, but rather what they received in the past when the stock was issued.
– Preferred stock
– Retained earnings - the cumulative net income or net loss to the firm less any dividends paid out. When company pays out some of net income as dividends, retained earnings is reduced.
– Treasury stock - amount paid to buyback the firms own shares from the current public shareholders. Since it decreases number of stockholders in the firm, it’s shown as a subtraction from the shareholders’ equity

>> No.15732223

>>15732178
in my accounting class, they accounting can only be
>useful
if its relevance and faithful

>> No.15732229

>>15732215

INCOME STATEMENT:
Income statement shows change in retained earnings from one period to another.
– Revenue (top line)
– Cost of sales
– Gross profit
– General and administrative expenses
– R&D expenses
– Operating income / EBIT
– Restructuring expenses
– Other gains & losses
– Net profit (bottom line)

>> No.15732230

>>15732177
>I WENT TO CLASS EVERYDAY AND DID THE HOMEWORK
You're either lying or your school is trash, it's honestly unbelievable to me that you don't know each of the financial statements so close to your exam, that's really fundamental.
Not trying to bully but those are to accounting what "the mitochondria is the powerhouse of the cell" is to Biology.

>> No.15732235

>>15731858
trades are a meme. Just do an education degree and become a teacher

>> No.15732238

>>15732229

CASH FLOW STATEMENT:
Show difference between different money spending activities in the company.
Cash flow from operating - how much did the company generate from operating the business
(Example: cash from customers, paid to suppliers, paid to employees, paid for taxes, operating expenses). Often negative in first year.
Cash flow from finances - cash spent on financing the business, like selling/buying back stocks, paying debt, incur new debt.
(Example: Cash from borrowing more money, from issuing stock, to retire debt, to repurchase stock, to pay for dividends.)
Cash flow from investing - how much did the company spend (or receive) from buying and selling businesses, M&A, property and equipment, tangible & intangible assets
(Example: cash paid for capital expenditures, acquisitions, sales of assets)
Net change in cash flow - sum of the above cash flows.

>> No.15732247

>>15732168
this is why I hated accounting. I still need an intermediate accounting class.

>> No.15732249

>>15732238

Recognising revenue:

Accrual revenue recognition: when the company has done the jo fully to receive the money. Revenue is recognised when earnings process (the job company needs to do to earn the money) is complete, and not when the cash Is received. Thus in accrual basis accounting, revenues do not always equal cash flow.

We need Cash flow statement because: revenues dont equal cash received and expenses don’t equal cash spent. Something tangible must be exchanged for there to be a formal entry by accountant. A promise or expectation isn’t enough.

New product sold put down as revenue, which increases net income which increases retained earnings. We haven’t got the money yet, but because of the obligation in the invoice, we can put it down as an account receivable in the assets section of balance sheet.
When payment is made, we decrease accounts receivable and increase cash.

Accrual basis accounting: revenue recognised when product is delivered, not when cash is received. When we get cash, we exchange the asset accounts receivable with cash.
Upfront payment, advanced payment. More tangible exchange, so we account it as cash. But we can’t recognise it as revenue because we haven’t delivered the goods yet.
When delivery is made, the earnings process is complete, and so we can recognise the full $10.000 as revenue, and put it as retained earnings. Decrease the deferred revenue, and we still haven’t got the rest $7500, so we put that as accounts receivable

>> No.15732260
File: 203 KB, 800x1200, bd35b5f61df6e68f6d478fff8b18bdbb.jpg [View same] [iqdb] [saucenao] [google]
15732260

>>15732229
>zE8BqlUY
THANK YOU
>>15732230
I did. And my teacher likes me and says im interactive.
I just have lots of depression. Ill often stay in bed shitposting, because i feel like theres no point in life

>> No.15732290

>>15732260
Your point in life is readig my posts and understand them fully.

Make up a fake company, with fake revenue numbbers ad work your way from there to make functional financial statements for that fake company.

>> No.15732300

>>15732290
d-do you think ill get A??

>> No.15732312

>>15732290
DOes INTEREST go into income statement??? or is it liability? help

>> No.15732314

>>15732177

YOU PROBABLY DIDNT PRACTICE ENOUGH THEN ANIFAGGOT. ACCOUNTING IS A LANGUAGE, YA HEAR ME?! LIKE LEARNING FOR ANY OTHER LANGUAGE, YOU HAVE TO LIVE IT, BREATH IT, F E E L IT!! WHAT DO YOU DO WHEN YOU FIRST WAKE UP IN THE MORNING? ACCOUNTING! WHAT DO YOU DO BEFORE YOU GO TO SLEEP AFTER A LONG HARD DAY OF BOOKKEK? ACCOUNTING! SO GET YOUR ASS BACK TO THAT BLACK SLEEK FUCKING CHAIR AND LAY DOWN YOUR SCRATCH PAPER ON THAT DESK AND FINGER THAT SEXY CASIO CALCULATOR LIKE YOUVE NEVER FINGERED ANYTGING BEFORE AND BALANCE THOSE FUCKING NUMBERS YOU FUCKING HENTAI COOMER ASS ABSOLUTE FAGGOT!

>> No.15732322

>>15731937
>being this retarded
Any person that passed algebra 1 can tell you its Assets MINUS Liabilities as the formula. Unless you think having negative $500k dollars on a loan is a liability lmfao

>> No.15732373

>>15732322
This fucking guy. You don't even need algebra, you need basic arithmetic.

Assets+liabilities=Shareholders equity, which also means that Assets= Shareholders equity - liabilities

Those are literally the same thing.
GAAP and IFRS formats differ in these ways:

GAAP: Assets = Stockholder's equity - liabilitiesAssets in order of decreasing liquidity. Current liabilities before long-term.

IFRS: Assets - liabilities = stockholders’ equity. Assets in order of increasing liquidity. Liabilities lists long-term liabilities before current.


>>15732312
Interest expenses are income statement, yes. If you took out a loan and now have to pay the interest, that

>> No.15732388

Where my CPA/ CA bros at?

>> No.15732490

>>15732042
Anon I...

>> No.15732522

>>15731858
Dude I got a 100% in my first accounting class. This was at a top 3 accounting school and I was an econ/math major.

>> No.15732544

>>15732522
how long did you study before the test...?
(i have 19 hours left)

>> No.15732552

>>15732197
Uh-oh... wait til they get into fair value! Honestly you dont need to have like a 3.5 champ, just hang in there and try your best, and eat a well balanced breakfast before the exam

>> No.15732571
File: 163 KB, 1080x1350, 63161934_445712546252202_6859043979899894015_n.jpg [View same] [iqdb] [saucenao] [google]
15732571

>>15732552
>you dont need a 3.5 champ.....
>.... just be confident bro!

FUCK
YOU

>> No.15732576

>>15731864
>Things that are debits are abbreviated with AED - assets, equity, and depreciation
This is wrong, though. The correct acronym is DEAD, for Debits = EXPENSES, ASSETS, and DIVIDENDS. All other accounts are credit normal balances. Equity is not one account and comprises of multiple sections that are either debit or credit normal balances.

This is the actual expanded equation:

Assets = Liabilities + [Common Stock + Retained Earnings - Dividends + Revenues - Expenses]

Assets = Dr.
Liabilities = Cr.
Common Stock = Cr.
Retained Earnings = Cr.
Dividends = Dr.
Revenues = Cr.
Expenses = Dr.

Please don't spread disinfo.

>> No.15732598

Best thread on biz right now.

>> No.15732616

>>15732373
>assets = equity minus liabilities
>your $10k hentai collection less the $5k loan you took to pay for it all means you have $15k worth of real value cooms
Please, degenerate. Spare me
>>15732388
>he thinks a CA is comparable

>> No.15732618
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15732618

>>15732598
its not fucking funny. IF I DONT BECOME A SUGAR DADDY, ILL BE ALONE FOREVERRRRR

>> No.15732673
File: 214 KB, 444x414, tumblr_lnvy7lTkRr1qktqch.png [View same] [iqdb] [saucenao] [google]
15732673

Hey, Can you guys give me a bunch of example financial statements being recorded in a balance sheet?

Especially Interest, APIC, and anything else super hard

>> No.15732676

>>15731956
Damn, this is some Gaia shit. Sage.

>>15732103
The greatest depricating asset is you.Time will move faster and faster as you age and then soon you will die. Your body is dying and growing less of time in each day. Zoomers only care about Takehashi 6x9 and fealing sorry for themselves by posting image macro "memes" on social media and smoking copius weed.

What happens when you make it but you have lost everything in the process and find yourself unable to pull out of the blackness and isolationary life of grim reality?

>> No.15732679

>>15732388
I have a question for you guys. Is having your CPA license/being a CPA even worth it? Let's say that I'm not particularly enthusiastic about public accounting and that I just want to learn accounting for private practice purposes. Would I be fine off without it?

Further, let's say I was more interested in obtaining a a CFE license instead, would it be equivalent or comparable? The CPA process just seems too long and tedious for me to bother with, honestly.

>> No.15732691
File: 182 KB, 410x379, 1513634992474.png [View same] [iqdb] [saucenao] [google]
15732691

I have confession.

I have a shit ton of example problems with answers. BUT THEY ARE ALL ON PAPER
And going through paper fucking sucks compared to reading stuff online....

>> No.15732710

>>15732691
Take pictures of the papers with your phone

>> No.15732716
File: 59 KB, 493x750, 1500607938828.jpg [View same] [iqdb] [saucenao] [google]
15732716

>accrued expense is a liability, not an expense
WHAT THE FUCKING SHIT

THEY LITERALLY MAKE UP THE RULES AT THEY GO

>> No.15732722

Why do accounting tests never cover how to deal with clients who keep sending you documents for the wrong tax year and then stubbornly insist they already sent the data when you ask for the correct year?

>> No.15732724

>>15732710
tried that. its hard to read cause i have poor hand writing....

>> No.15732756

>>15732716

Hint: that's what accounting is good for at large corporations.

>> No.15732763
File: 48 KB, 600x424, FkUR5OG.jpg [View same] [iqdb] [saucenao] [google]
15732763

WHY IS INTEREST FINANCING ON THE BALANCE SHEET, BUT OPERATING ON CASH FLOWSSSS

FUCK YOU GUYS

>> No.15732778

>>15732763
Sage, this thread has killed my braincels.
>>15732676
Have sex, loser.
Have sex, loser.

>> No.15732779
File: 743 KB, 850x1200, Clownpiece.full.2043585.jpg [View same] [iqdb] [saucenao] [google]
15732779

>>15732756
B-BUT I THOUGHT EVERYTHING IS ACCRUAL ANYWAYYYY
THATS WHY ITS CALLED MOTHER FUCKING ACCRUAL BASED ACCOUNTING>>>>>


ALL EXPENSES ARE ACCRUE.

WHY THE FUCK IS AN ACCRUAL EXPENSE A LIABILITY AND NOT UNDER SHAREHOLDERS EQUITY

IT
MAKES
NO
FUCKING
SENSE

>> No.15732781

>>15732763

Because financing requires collateral aka rights on assets - essentially a lean on your assets. Operating expenses are just negative cashflows.

>> No.15732786

>>15732778
>has sex instead of just cooming

Please, fren. Why even coom then?

>> No.15732790

>>15732779

It makes perfect sense you deranged ape, accrual implies interest which implies debt which implies a lean on collateral which implies assets which means balance sheet.

>> No.15732795

>>15732042
Managers make sure the company, investors own some share of the company. Aside from going to shareholders, investors don't make any decisions regarding company and financial management within the company.

I never learned this in school. Why are you so behind when this is your major?

>> No.15732800
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15732800

>>15732781
>>15732790
I dont know what it means to
>lean on something
please explain in laymans terms

>> No.15732807

>>15732795
>my major
I didnt ask for this....
i just want good paying business job so i can be sugar daddy

>> No.15732887

>>15732800

The word is actually lien, look it up

>> No.15732930

>>15732807
Why didn't you just study something you are talented in, enjoy, and would make decent money off of? You should thank God and your parents for making you financially stupid because it sounds like you would just hand any money you would make to some gold digger anyway.

Why wouldn't you just want to find a wife and raise a family? At least then your money is going towards something fulfilling instead of some gold digging roastie who meets up with Chad behind your back.

>> No.15732938
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15732938

>>15732887
>lien
NO I CANT INTO THESE ADVANCE WORDS
WHY DO TEXTBOOKS KEEP USING FUCKING

SHAKESPEARE

TO EXPLAIN ALL THEIR BULLSHIT

sorry.
i just wish everything was explained using pictures and 1st grade level reading. It would make life and learning this bullshit so much easier

>> No.15732953

>>15732938
Never going to make it. Terminology only gets more complex and convoluted from here on.

>> No.15732959

>>15732938
I have an idea. Just try imagining yourself running a business, and a neighbor gives you a loan. The lien is what keeps your neighbor from worrying that he'll never see his money again.

>> No.15732966

>>15732938

Are you a native English speaker? Seems like you don't like learning new shit, maybe you should consider welding?

>> No.15732969
File: 64 KB, 163x166, 53453465.png [View same] [iqdb] [saucenao] [google]
15732969

>>15732930
dont question my logic.

I MADE 100 k OFF DIGIBYTES
>>15732953
literally pseudo intellect logic

>> No.15732977

>>15732959
Thanks. this helps a lot

>> No.15733226

>>15731820
lol how do you fail accounting? its just sums

>> No.15733861
File: 253 KB, 600x810, 1435693665892.jpg [View same] [iqdb] [saucenao] [google]
15733861

OP here.....
im really tired.....
want to sleep. but--- gold digger wife needs me.....

>> No.15734058

>i just wish everything was explained using pictures and 1st grade level reading. It would make life and learning this bullshit so much easier

https://files.catbox.moe/ox7kx7.pdf

>> No.15734238

>>15732616
Where I live CA is better
It's internationally recognised until CPA (CPA here is not the american CPA)

>> No.15734249

>>15731820
kek I am accounting who never took that exam and make 65k a year.

>> No.15734395
File: 869 KB, 1270x361, 1556727617788.png [View same] [iqdb] [saucenao] [google]
15734395

>>15732215
Great posts.

Would you, or anyone else who might be able to answer, give your input of my explanation of pic related (I was trying to explain how issuance of common stock may have resulted in the reduction of Common Stock Amount and Retained Earnings):

https://www.accountingformanagement.org/treasury-stock-cost-method/

>if additional paid-in capital from a previously issued treasury stock is not available then additional paid-in capital-common stock is debited and if additional paid-in capital-common stock is also not available or is not sufficient, the retained earnings account is debited.

Apple Re-issued Common Treasury Stock (which are essentially repurchased stocks). They did so at a price below what they had paid to repurchase these stocks.

This results in a Loss (in the Contra-Equity sense, as opposed to an Expense).

Some of that Loss was allocated to the Common Stock Amount. The remainder of that Loss (that wasn't able to be "covered" by Common Stock Amount, through something called Additional Paid in Capital) was then Allocated to Retained Earnings.

Therefore, Common stock was issued, but resulted in a Reduction of Common Stock Amount and a Reduction of Retained Earnings.

Was originally posted in this thread: >>/biz/thread/S13490459#p13493303

>> No.15734427
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15734427

You wont survive advanced financial accounting at this rate. The mumbo jumbo impairment, upstream downstream consolidation, non controlling interest, variance analysis and such.

Not to mention the discrepancy of US GAAP and IFRS tidbit.

>> No.15734540

It's not called balance sheet. It's a statement of financial position

Also annons. Dig deep into triple entry accounting

>> No.15734577

>>15731820
ok im going to tell you something that isnt in your college text books. it was removed a few years ago but may still be on standardized tests

fiat currency armagedaboom aka C is considered inevitable. currency based financial collapse globally has been a accepted part of reality for decades. the law of diminishing returns plays a role as all stalling tactics will produced lower returns over time. from tax breaks to QE (quantitative easing aka pumping wallstreet with money that the government may not even have in the form of bonds that when they mature are erased) nothing lasts forever

>> No.15734631

>>15732103
Depreciation expense would be debited and the inverse of depreciation expense is accumulated depreciation which is a contra account. You can think of a contra-asset as a negative number that is periodically credited until the depreciation reaches the recorded asset price.

>> No.15734649

>>15734427
did you have to do the AirFrance shit too for GAAP vs IFRS?

>> No.15734668

>>15732373
>Current liabilities before long-term.

When you say this, does that mean you're ranking most recently acquired liabilities or the date of final payment?

>> No.15734771

>>15732576
They don't mean to. Things are done differently in the US. Ur EU

>> No.15734776

>>15734668
It means liabilities that are due within the year. Like accounts payable, interest payable, income tax payable. Whereas long-term liabilities are notes or loans with a duration of more than 1 year.

>> No.15734791

>>15732616
You're an idiot. It's simple arithmetic that you can add and subtract anything on any equation as long as the same Operation is done on both sides.

So

Assets-liabilities=equity
Assets=equity+liabilities
Liabilities=equity-assets

Learn math

>> No.15734799

>>15732103
Yes for example a car will lose value over time, you can place a percentage overtime.

>> No.15734803

>>15732716
You're the laziest piece of shit ever, fuck you and I hope you kill yourself, 14 hours till exam good luck

I explained literally all of this in the above posts and you didn't bother reading them.

You can find financial statements of literally every big company on Earth. Just Google "Tesla Income statement" or "Apple balance sheet"

>> No.15734819

>>15734776
Thanks, anon.

>> No.15734831

Triple entry accounting!!! Look it up FFS

>> No.15734850

>>15734249
How

>> No.15734911

>>15731820
accounting is gone withing 10 years. Its just the CFO and the IT team.

>> No.15735644
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15735644

OP here. So i just learned that basically i should have learned all this by Accounting Cycle order.

1. Collecting money documents
2. Putting them into Journals (debits and Credits) (recording dates)
3. Make a General Ledger (fucking T charts for every account)
--------These three have absolutely fucking nothing to do with the next steps-------
4. Make ur income statement
5. Make a Statement of shareholders equity. Basically using the I/S
6. the balance sheet. Basically, a device to make information prettier for faggots.
7. Cash Flows. Because the only thing that matters is cash anyway.
-----bullshit steps-----
8. Zero out temporary accounts
9. Set up journal entries for next year


....How the fuck does zero'ing out temp accounts even work??? Youre literally making up money just to zero them out

>> No.15736044

>>15735644
Think about what the Income Statement is actually all about. It about calculating the Profit/Loss that was made, in a given period, right?

All of those Revenue and Expenses only apply to that given period. Other periods, in the past, had their own Revenue and Expenses. Other periods, in the future, will have their own Revenue and Expenses.

And so, after you've accounted for a given period's Revenue and Expenses, these no longer apply to future periods. Therefore, you close each Revenue and Expense to Income Summary (which is basically your Profit/Loss calculation done in Journal Entry form).

You then transfer that Profit/Loss you calculated with Income Summary and close it to Retained Earnings. Remember how Income (or Revenue) increases Equity and isn't a contribution to the business from Owners, and do you remember how Expenses decrease Equity and aren't distributions to Owners? This is how you record their impact on the business' Equity, as Retained Earnings is the actual Equity account which is impacted by Revenue and Expenses each period.

https://www.accountingtools.com/articles/what-is-a-temporary-account.html

>> No.15736053

>>15731824
Surprisingly no futa at all, some yuri with strapons

>> No.15736245

>>15734791
>A(5) - L(3) = E(2)
>5 - 3 = 2
>5 = 2 + 3
>3 = 2 - 5

Are you some kind of super genius anon? kys. Everything youve posted in this thread is wrong disinfo, so I'm hoping for your sake youre just a dick. Otherwise, pathetic

>> No.15736272

>>15731820
Accounting 100 should not be this hard for you

>> No.15736286

>>15731904
Dude its accounting and thats not supposed to be the hard part.

Thats like the 2+2 of accounting

Become a marketingmajor, its way easier, way more fun, and youll getto do arts andcrafts for the rest of your life.

>> No.15736291

>>15731835
Until internediate 2 and tax

>> No.15736304

Imagine helping this loser
I feel sorry for any company that gets tricked into hiring a fraud like OP
let him fail he would serve better in a warehouse counting inventory

>> No.15736686
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15736686

>>15736304
FUCK
YOU

>> No.15737202

>>15731820
Try studying from the start of the semester instead of posting on this weird "business and finance" meme board and doing everything the day before

>> No.15738419

>>15731820
i didnt know you neets had such a grasp on jewish alchemy

>t. 2nd grade mischling