ACCOUNTING ELEMENTS
The three major elements of accounting are: assets, liabilities, and capital. Assets refer to resources owned and controlled by a business; liabilities refer to...
Memahami Akuntansi dengan Kesederhanaan
Financial Accounting
Asset Accounts
Assets refer to resources owned and controlled by an entity. Technically, an asset is defined as a “resource controlled by an entity as a...
Liability Accounts
Liabilities refer to economic obligations of an entity. A liability is technically defined as a “present obligation of an enterprise arising from past transactions...
Stockholders’ Equity Accounts
Equity (or capital) refers to the residual interest of the owners in the assets of a company after all liabilities are settled. In other...
Revenue Accounts
Revenues (or income) refer to economic benefits received from business activities. Revenues are “increases in economic benefits during the accounting period in the form...
Expense Accounts
Expenses refer to costs incurred in conducting business. Technically, expenses are “decreases in economic benefits during the accounting period in the form of decreases...
INCOME STATEMENT
The “Income Statement” is a financial statement that summarizes a company’s revenues and expenses and the resulting net income. It is the first financial...