1 of 14

Slide Notes

DownloadGo Live

Financial Accounting Lesson 1

Accounting first day basics

View Outline

MORE DECKS TO EXPLORE

PRESENTATION OUTLINE

1.

Accounting

Is it for you?
Photo by basvk
2.

Which of you begged

To take an accounting class?
Photo by Bichuas (E. Carton)
3.

Making money

How will you know? What is net income?
Photo by free pictures of money
4.

Net income =
Revenue -
Expenses
So, what is revenue
And what are expenses?

Photo by Emily Morter
5.

New Language

First, what is your mindset?
Photo by kugel
6.

Fixed

  • Give up easily
  • Try only what you know you can do
  • Your intelligence is limited
  • You either have the skill set or you don’t
  • Dislike challenges
  • Doesn’t learn from mistakes
Photo by Aubrey Rose Odom
7.

Growth

  • Keep trying
  • Try new things
  • Your intelligence is based on your effort
  • Skill sets can be aquired
  • Love challenges
  • Learn from mistakes
Photo by Igor Rodrigues
8.

Untitled Slide

Photo by Daniela Hartmann (alles-schlumpf)
9.

Categories of accounts

  • Asset
  • Liability
  • Equity
  • Contributed Capital
  • (Dividends)
  • Revenue
  • (Expenses)
10.

Asset

Something you own
Like a car, cell phone,
Computer, building, or land

Photo by Haags Uitburo
11.

Liability

What you owe, like the money you owe on your car
Photo by Benoit cars
12.

Equity

  • The diference between Assets and Liabilities
  • Car costs $20,000
  • You owe. $14,000
  • Your equity $6,000
Photo by Daniel Mennerich
13.

Equity expanded

  • Contributed Capital
  • Retained Earnings
  • -Dividends
  • +Revenue
  • -Expense
14.

Untitled Slide

Photo by pennstatenews

Trudie Infantini