CBV 1 Summary (ECBV-18)

CBV 1
SUMMARY
Sarah van Notten
ACADEMIC YEAR 2018 - 2019 | BLOCK D

,SARAH VAN NOTTEN CBV 1 | ACADEMIC YEAR 2018 – 2019 | BLOCK D




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, SARAH VAN NOTTEN CBV 1 | ACADEMIC YEAR 2018 – 2019 | BLOCK D




TABLE OF CONTENTS


Definitions 5
Branches of Accounting 9
Fundamental Accounting Equation 9
Assets 9
Liabilities 9
Equity 9
Revenues 9
Expenses 9
Income 10
Cost of Sales 10
Depreciation 10
Inventory Systems 10
Double-Entry Accounting 11
Accrual Basis Accounting 11
Cash Basis Accounting 11
Accounting Cycle 12
Analysis of Business Transactions 12
Special Journal Entries 12
The 21 Universal Transactions (for the hospitality industry) 13
Additional Journal Entries 15
Financial Statements 15
USALI Income Statement Format 15
Balance Sheet 16
Ratio Uses 16
Ratio Types and Formulas 16




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