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Worksheets2 Truths , 1 Lie
Total questions: 18
Worksheet time: 9mins
What is the Accounting Equation
Liabilities
Income
Asset
Luca Pacioli is the Father of Accounting
He was the 2nd person publish double-entry system of bookkeeping
He was also called Luca di Borgo
He was an Italian Mathematician
Example of assets
Land
Accounts Payable
Cash
Example of Liabilities
Equipment
Loans
Accrued Expenses
Example of Cash
Coins
Currency
Land
Definition of Assets
Can be tangible and intangible
Can be used to produce positive economic value
Remaining value of an owner's interest in company
What is accounting?
It provides a clear picture of the financial health of your organization and its performance, which can serve as a catalyst for resource management and strategic growth.
Is the track in which you can become unsuccessful
Is the process of recording financial transactions pertaining to a business
What is the Accounting Equation?
Equity = Assets + Liabilities
Assets = Liabilities + Equity
Equity + Liabilities = Assets
Journal Entries can?
Translate transactions into information for financial reports and tax filing.
Provides information about your life
Record all business transactions and events
What do you need in computing a transaction face to face?
Calculator
Pen and Paper
Excel
Who can compute the transaction
Accountant
Student
Neighbor
What can you get when you study Accounting?
Knowledge about Accounting
Ability to compute any transaction
Stress
The statement of profit and loss is called?
Statement of Operations
Income Statement
Statement of Financial Position
Benedetto Cotrugli a former international merchant
He wrote the first book on double entry accounting system
He invented the double entry accounting system
He is also an economist
Accounting Principles
Accrual Principles
The Principia
Accrual Principles
History of UA:
What was UA first program offering?
Bachelor of Arts
BS Elementary Education
BS Accountancy
History of UA:
UA was named
Assumption College of Pampanga
Assumption Junior College
Our Lady of Assumption
History of UA:
Who was the former University President?
Bishop Roberto C. Mallari, DD
Rev. Fr. Oliver G. Yalung, DL, PhD
Rev. Fr. Joselito C. Henson, S.Th.D.
