Radboud University bedrijfskunde 11-06-2025
Accounting 24-25
Inhoud
,Radboud University bedrijfskunde 11-06-2025
Week 1.........................................................................................................2
Chapter 1..................................................................................................3
Chapter 2..................................................................................................8
Week 2.......................................................................................................10
Chapter 3................................................................................................11
Chapter 4................................................................................................13
Week 3.......................................................................................................16
Chapter 5................................................................................................17
Chapter 6................................................................................................19
week 4........................................................................................................23
Chapter 7................................................................................................24
Chapter 8................................................................................................26
Week 5.......................................................................................................29
Chapter 9................................................................................................29
Chapter 10..............................................................................................32
Week 6.......................................................................................................36
Chapter 11..............................................................................................36
Chapter 12..............................................................................................40
Week 7.......................................................................................................42
Chapter 13..............................................................................................42
Chapter 14..............................................................................................45
Week 8.......................................................................................................49
Chapter 15..............................................................................................50
Chapter 16..............................................................................................52
Week 1
,Radboud University bedrijfskunde 11-06-2025
Chapter 1
Aiden Jackson wants to open a coffee shop near a university. Despite having experience and some
financial help, he lacks enough funding and feels overwhelmed when asked for detailed financial
documents. This is a common challenge for new entrepreneurs, who must manage cash flow and
make smart decisions.
The story shows the importance of accounting—the “language of business.” It helps turn business
activities into useful financial reports for better decision-making. Companies like Starbucks succeed
partly because they apply accounting principles effectively.
, Radboud University bedrijfskunde 11-06-2025
There are two main types of accounting:
-Financial accounting, which provides information to external decision-makers (e.g., investors,
lenders, government).
-Managerial accounting, which supports internal decisions (e.g., by managers and employees).
Accounting is essential not only for businesses but also for individuals and investors. It helps manage
personal finances, plan for retirement, assess job offers, and evaluate investment opportunities.
Ultimately, accounting helps all decision-makers make smarter, evidence-based choices.
Investing through retirement plans requires understanding financial statements. Sites like Yahoo
Finance offer this data. It's useful for investors, creditors, and tax authorities. All businesses use
accounting to guide decisions, and accounting knowledge benefits any business role.
Modern accountants need tech skills. They work with IT to develop systems and use data analytics to
identify trends and make business decisions. Data visualizations like dashboards help communicate
these insights.
In the U.S., the Financial Accounting Standards Board (FASB) develops accounting rules, in
cooperation with the Securities and Exchange Commission (SEC). U.S. companies must follow
Generally Accepted Accounting Principles (GAAP), especially if publicly traded. Smaller companies
may follow a separate framework.
Globally, companies may use International Financial Reporting Standards (IFRS), governed by the
International Accounting Standards Board (IASB), especially if they operate outside the U.S.
The economic entity assumption is a key accounting principle stating that a business is treated as a
separate unit from its owners or other businesses. This allows for a clear and accurate measurement
of a company's financial performance. A business can be organized as a sole proprietorship (a
business with one owner), a partnership (two or more owners), a corporation (a separate legal entity
under state law), or a limited-liability company (LLC), where each member is only responsible for their
own actions.
A corporation is legally separate from its owners, called stockholders. It can own property, enter
contracts, sue or be sued, and its assets and liabilities are distinct from those of its owners.
Corporations raise capital by issuing stock, representing ownership.
Ownership can be easily transferred by selling shares without affecting the corporation’s existence,
giving it continuous life. Stockholders do not act for the corporation unless they hold formal roles, a
concept known as no mutual agency. They have limited liability, meaning they risk only their
investment, which encourages more investment.
Ownership and management are separate: stockholders elect a board of directors, who appoint
officers to manage the company. This separation can cause distance and potential conflicts between
owners and managers.
Accounting 24-25
Inhoud
,Radboud University bedrijfskunde 11-06-2025
Week 1.........................................................................................................2
Chapter 1..................................................................................................3
Chapter 2..................................................................................................8
Week 2.......................................................................................................10
Chapter 3................................................................................................11
Chapter 4................................................................................................13
Week 3.......................................................................................................16
Chapter 5................................................................................................17
Chapter 6................................................................................................19
week 4........................................................................................................23
Chapter 7................................................................................................24
Chapter 8................................................................................................26
Week 5.......................................................................................................29
Chapter 9................................................................................................29
Chapter 10..............................................................................................32
Week 6.......................................................................................................36
Chapter 11..............................................................................................36
Chapter 12..............................................................................................40
Week 7.......................................................................................................42
Chapter 13..............................................................................................42
Chapter 14..............................................................................................45
Week 8.......................................................................................................49
Chapter 15..............................................................................................50
Chapter 16..............................................................................................52
Week 1
,Radboud University bedrijfskunde 11-06-2025
Chapter 1
Aiden Jackson wants to open a coffee shop near a university. Despite having experience and some
financial help, he lacks enough funding and feels overwhelmed when asked for detailed financial
documents. This is a common challenge for new entrepreneurs, who must manage cash flow and
make smart decisions.
The story shows the importance of accounting—the “language of business.” It helps turn business
activities into useful financial reports for better decision-making. Companies like Starbucks succeed
partly because they apply accounting principles effectively.
, Radboud University bedrijfskunde 11-06-2025
There are two main types of accounting:
-Financial accounting, which provides information to external decision-makers (e.g., investors,
lenders, government).
-Managerial accounting, which supports internal decisions (e.g., by managers and employees).
Accounting is essential not only for businesses but also for individuals and investors. It helps manage
personal finances, plan for retirement, assess job offers, and evaluate investment opportunities.
Ultimately, accounting helps all decision-makers make smarter, evidence-based choices.
Investing through retirement plans requires understanding financial statements. Sites like Yahoo
Finance offer this data. It's useful for investors, creditors, and tax authorities. All businesses use
accounting to guide decisions, and accounting knowledge benefits any business role.
Modern accountants need tech skills. They work with IT to develop systems and use data analytics to
identify trends and make business decisions. Data visualizations like dashboards help communicate
these insights.
In the U.S., the Financial Accounting Standards Board (FASB) develops accounting rules, in
cooperation with the Securities and Exchange Commission (SEC). U.S. companies must follow
Generally Accepted Accounting Principles (GAAP), especially if publicly traded. Smaller companies
may follow a separate framework.
Globally, companies may use International Financial Reporting Standards (IFRS), governed by the
International Accounting Standards Board (IASB), especially if they operate outside the U.S.
The economic entity assumption is a key accounting principle stating that a business is treated as a
separate unit from its owners or other businesses. This allows for a clear and accurate measurement
of a company's financial performance. A business can be organized as a sole proprietorship (a
business with one owner), a partnership (two or more owners), a corporation (a separate legal entity
under state law), or a limited-liability company (LLC), where each member is only responsible for their
own actions.
A corporation is legally separate from its owners, called stockholders. It can own property, enter
contracts, sue or be sued, and its assets and liabilities are distinct from those of its owners.
Corporations raise capital by issuing stock, representing ownership.
Ownership can be easily transferred by selling shares without affecting the corporation’s existence,
giving it continuous life. Stockholders do not act for the corporation unless they hold formal roles, a
concept known as no mutual agency. They have limited liability, meaning they risk only their
investment, which encourages more investment.
Ownership and management are separate: stockholders elect a board of directors, who appoint
officers to manage the company. This separation can cause distance and potential conflicts between
owners and managers.
