Finance And Value at Karlsruher Institut Für Technologie

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Guiding principle of financial accounting

Provide useful financial information to outside decision makers

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Double role of financial information

Stewardship role - Accountability of management
Decision usefulness role - Valuation purposes

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Role of accrual accounting

Incoming/Outgoing transactions booked independent of time of cash flow

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Accounts of working capital requirement

WCR = Operating assets - operating liabilities
= Accounts receivable + Inventories + Prepaid expenses - Accounts payable - Accrued expenses

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Most common accounts

Current assets
- Cash
- Inventory
- Account receivable
- Prepaid expenses
Noncurrent assets
- PPE
- Intangible assets
Liabilities
- Accounts payable
- Deferred revenue

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Accounting equation

Assets = Liabilities + Owner‘s equity

Assets = Liabilities + Contributed capital + Beginning retained earnings + Revenue - Expenses - Dividends

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Worksheet approach

Every transaction affects at least two accounts to keep the balance (double entry accounting)

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Positive cash movement prior to accounting recognition

Deferred revenue ➔ Liability

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Positive cash Movement after accounting recognition

Accrued revenue ➔ Asset

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Negative cash movement prior to accounting

Deferred (Prepaid) expense ➔ Asset

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Negative cash movement after accounting recognition

Accrued expense ➔ Libaility

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Journal

Record transactions by date

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Finance and value at Karlsruher Institut für Technologie

Flashcards and summaries for Finance and value at the Karlsruher Institut für Technologie

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