Modul ke:

Fakultas

Program Studi

PENGANTAR AKUNTANSIAccounting in Action

Rina Y. Asmara SE, MM, Ak, CA

01Ekonomi dan

Bisnis

S1Manajemen

Types of Businesses

Delta Air Lines Transportation services

The Walt Disney Company Entertainment services

Service Business Service

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Merchandising Business ProductWal-Mart General merchandiseAmazon.com Internet books, music,

videos

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Types of Businesses

Manufacturing Business Product

General Motors Corp. Cars, trucks, vansDell Inc. Personal computers

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Types of Businesses

The Role of Accounting in Business

Accounting can be defined as aninformation system that provides reports to users about the economic activities and condition of a business.

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• Identify users.• Assess users’ informational needs.• Design the accounting information system

to meet users’ needs.• Record economic data about business

activities and events.• Prepare accounting reports for users.

The process by which accounting provides information to users is as follows:

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Exhibit 1 Users of Accounting Information

The area of accounting that provides internal users with information is called managerial accounting.

Managerial Accounting

The objective of managerial accounting is to provide relevant and timely information for managers’ and employees’ decision-making needs.

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The area of accounting that provides external users with information is called financial accounting.

Financial Accounting

The objective of financial accounting is to provide relevant and timely information for the decision-making needs of users outside of the business.

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Ethics are moral principles that guide the conduct of individuals.

Role of Ethics in Accounting and Business

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• Failure of individual character

• Firm culture of greed and ethical indifference

The answer to “What went

wrong for these companies?”

(Exhibit 2) involves one or both of these

factors.

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Accountants employed by a business firm or a not-for-profit organization are said to be employed in private accounting.

Accountants and their staff who provide services on a fee basis are said to be employed in public accounting.

Opportunities for Accountants

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The resources owned by a

business

Assets = Liabilities + Owner’s Equity

The Accounting Equation

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The rights of the creditors are the

debts of the business.

Assets = Liabilities + Owner’s Equity

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The Accounting Equation

The rights of the owners

Assets = Liabilities + Owner’s Equity

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The Accounting Equation

A business transaction is an economic event or condition that directly changes an entity’s financial condition or its results of operations.

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Business Transaction

On November 1, 2009, Chris Clark deposits $25,000 in a bank account in the name of NetSolutions in return for shares of stock in the corporation.

Transaction A

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Share Capital-Ordinary25,000

CASH25,000a. =

AssetsStockholders’

Equity =

Transaction A (continued)

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Transaction B

On November 5, 2009, NetSolutions paid $20,000 for the purchase of land as a future building site.

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CASH + LAND25,000 Bal.

Assets =

=

Bal. 5,000 20,000 25,000

b. –20,000 +20,000

Share Capital-Ordinary25,000

Stockholders’ Equity

Transaction B (continued)

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On November 10, 2009, NetSolutions purchased supplies for $1,350 and agreed to pay the supplier in the near future.

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Transaction C

CASH + SUPPLIES + LAND5,000 20,000 25,000Bal.

Assets =

=

ACCOUNTS CAPITALPAYABLE + STOCK

Stockholders’ Liabilities + Equity

Transaction C (continued)

c. +1,350 +1,350

Bal. 5,000 1,350 20,000 1,350 25,000

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Beginning with Transaction D the asset section will be shown

first, then the liabilities and stockholders’ equity will be

shown in the following slide.

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On November 18, 2009, NetSolutions received cash of $7,500 for providing services to customers. A business earns money by selling goods or services to its customers. This amount is called Revenue.

Transaction D

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CASH + SUPPLIES + LAND5,000 1,350 20,000 Bal.

Assets

Transaction D (continued)

d. +7,500

Bal. 12,500 1.350 20,000

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Transaction D (continued)

ACCOUNTS CAPITAL FEESPAYABLE + STOCK + EARNED

1,350 25,000 Bal.

Liabilities + Stockholders’ Equity

d. +7,500

Bal. 1,350 25,000 7,500

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During the month, NetSolutions spent cash or used up other assets in earning revenue. Assets used in this process of earning revenue are called expenses.

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Expenses

On November 30, 2009, NetSolutions paid the following expenses during the month: wages, $2,125; rent, $800; utilities, $450; and miscellaneous,$275.

Transaction E

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CASH + SUPPLIES + LAND12,500 1,350 20,000 Bal.

Assets

Transaction E (continued)

e. –3,650

Bal. 8,850 1.350 20,000

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Transaction E (continued)

ACCOUNTS CAPITAL FEES WAGES RENT UTIL. MISC.PAYABLE + STOCK + EARNED – EXP. – EXP. – EXP. – EXP.

1,350 25,000 7,500 Bal.

Liabilities + Stockholders’ Equity

e. –2,125 –800 –450 –275

Bal. 1,350 25,000 7,500 –2,125 –800 –450 –275

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On November 30, 2009, NetSolutions paid creditors on account, $950.

Transaction F

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CASH + SUPPLIES + LAND8,850 1,350 20,000 Bal.

Assets

Transaction F (continued)

f. –950

Bal. 7,900 1.350 20,000

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Bal.

Liabilities + Stockholders’ Equity

f. –950

Bal. 400 25,000 7,500 –2,125 –800 –450 –275

Transaction F (continued)

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ACCOUNTS CAPITAL FEES WAGES RENT UTIL. MISC.PAYABLE + STOCK + EARNED – EXP. – EXP. – EXP. – EXP.

1,350 25,000 7,500

On November 30, 2009, Chris Clark determined that the cost of supplies on hand at the end of the period was $550.

Transaction G

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CASH + SUPPLIES + LAND7,900 1,350 20,000 Bal.

Assets

Transaction G (continued)

g. –800

Bal. 7,900 550 20,000

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ACCOUNTS CAPITAL FEES WAGES RENT SUP. UTIL. MISC.PAYABLE + STOCK + EARNED – EXP. – EXP. – EXP. – EXP. – EXP.

400 25,000 7,500 –2,125 –800 –450 –275 Bal.g. –800

Bal. 400 25,000 7,500 –2,125 –800 –800 –450 –275

Transaction G (continued)

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Liabilities + Stockholders’ Equity

On November 30, 2009, NetSolutions pays $2,000 to stockholders (Chris Clark) as dividends.

Transaction H

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CASH + SUPPLIES + LAND7,900 550 20,000 Bal.

Assets

Transaction H (continued)

h. –2,000

Bal. 5,900 550 20,000

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Transaction H (continued)

ACCTS. CAPITAL, DIVI- FEES WAGES RENT SUP. UTIL. MISC.PAY. + STOCK – DENDS + EARNED – EXP. – EXP. – EXP. – EXP. – EXP.400 25,000 7,500 –2,125 –800 –800 –450 –275 Bal.

Liabilities + Stockholders’ Equity

h. –2,000

Bal.400 25,000 –2,000 7,500 –2,125 –800 –800 –450 –275

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Summary

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Exhibit 5 Effects of Transactions on Stockholders’ Equity

After transactions have been recorded and summarized, reports are prepared for users. The accounting reports providing this information are called financial statements.

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Financial Statements

The statement of comprehensive incomereports the revenues and expenses for a period of time, based on the matching concept.

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statement of comprehensive income

The matching concept is applied by matching the expenses with the revenue generated during a period by those expenses.

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Matching Concept

The excess of revenue over the expenses is called net income or net profit. If the expenses exceed the revenue, the excess is a net loss.

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The statement of retained earnings reports the changes in the retained earnings for a specific period of time, such as a month or a year.

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Statement of Retained Earnings

A statement of financial position is a list of the assets, liabilities, and stockholders’ equity as of aspecific date.

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Statement of Financial Position

The account form of a statement of financial position lists the assets on the left and the liabilities and stockholders’ equity on the right—similar to the design of an account.

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Account Form

A statement of cash flows is a summary of the cash receipts and payments for a specific period of time. It consists of three sections: (1) operating activities, (2) investing activities, and (3) financing activities.

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Statement of Cash Flows

The cash flows from operating activities section reports a summary of cash receipts and cash payments from operations.

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Operating Activities

The cash flows from investing activities section reports the cash transactions for the acquisition and sale of relatively permanent assets.

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Investing Activities

The cash flows from financing activities section reports the cash transactions related to cash investments by stockholders, borrowings, and cash dividends.

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Financing Activities

• The statement of comprehensive income and the statement of retained earnings are interrelated.

Net income or net loss appears on the statement of comprehensive income and is also reported on the statement of retained earnings as either an addition to or a deduction from the beginning retained earnings balance.

Interrelationships Among Financial Statements

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• The statement of retained earnings and the statement of financial position are interrelated.

Retained earnings at the end of the period reported on the statement of retained earnings is also reported on the statement of financial position as retained earnings.

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Interrelationships Among Financial Statements

• The statement of financial position and the statement of cash flows are interrelated.

The cash reported on the statement of financial position is also reported as the end-of-period cash on the statement of cash flows.

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Interrelationships Among Financial Statements

Financial Analysis and Interpretation

Ratio of Liabilities to Stockholders’ Equity =

Total Liabilities

Total Stockholders’ Equity

For NetSolutions:

Ratio of Liabilities to Stockholders’ Equity =

$400

$26,050= 0.015

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Terima KasihRina Y. Asmara SE, MM, Ak., CA