Graphs
Graphs
Graphs
January 5000
February 4300
March 4830
April 5050
Utility Expense
5200
5000
4800
4400
4200
4000
3800
January February March April
Month Salary Expense
January 40000
February 37500
March 39000
April 45000
Salary Expense
46000
44000
42000
38000
36000
34000
32000
January February March April
Pie Graph
Quarterly Revenue Percentage
15%
36%
1st Qtr
2nd Qtr
3rd Qtr
27%
4th Qtr
22%
Bar Graph
Comparative Schedule of Current Assets
December 31, 2016 and 2017
300000
250000
200000
150000
2016
100000 2017
Increase or (Decrease)
50000
0
-50000
2016 2017 Increase or Increase or
(Decrease) (Decrease)
Amount Percent
Have great
Excellent in
communication Accountant organizing
skills
Have time
mangaement
skills
T-Chart
Spider Map
Transactions should
Revenues are be recorded when
recognized not doing so might
when earned alter the decisions
made by a reader of
Accrual Materiality a company's
Expenses are
Concepts Concept financial statements
recognized
when assets are
consumed Financial
Economic Basic Going
The transactions Accounting Concern statements
of a business are Entity
Concept Concept are prepared
to be kept Concept
on the
separate from assumption
those of its
that the
owners Conservatism Matching business will
Revenues are only Concept Concept remain in
recognized when
there is a reasonable operation in
certainty that they future
The expenses related to periods
will be realized revenue should be
recognized in the same
whereas expenses are
period in which the
recognized sooner
revenue was recognized
Venn Diagram
Balance Sheet Income Statement
Results from
• Reports the • Reports the
the use of
company’s assets, company’s
double-entry
liabilities and equity revenues and
accounting or
• Covers a Single expenses
bookkeeping
point in time within • Covers a certain
and the
a fiscal year time frame or fiscal
accounting
equation period
A = L + OE
Discussion Web
Advantages Disadvantages
• it does not prove
• to check the debits that all transactions
equal the credit
• to find the uncover
Trial have been recorded
• it does not prove
errors in journalizing
• to find the uncover
Balance that the ledger is
correct
errors in posting • numerous errors
• to locate the errors may exist even
in ledger accounts though the trial
• to make financial balance columns
statements agree
• to list the accounts • it cannot find the
at a single place missing entry from
the journal
Conclusion