The chart of accounts: concept & SAP design R 3 to S 4HANA


In this section, you will how to calculate drift using data from your calibration reports. If you correct your measurement results for bias or error, then DO NOT include bias in your uncertainty budget.

On January 12, there was a credit of $300 included in the Cash ledger account. Since this figure is on the credit side, this $300 is subtracted from the previous balance of $24,000 to get a new balance of $23,700.

Expanding the accounting equation

Sometimes they are excluded from discussions on management reporting. Accounts were historically developed for management purposes and form the basis of internal management reporting. The Sumerians developed a wedge-shaped script called “Cuneiform” consisting of several hundred characters that scribes would mark on wet clay and then bake. This is thought to have been used to keep records of business transactions .

Service Revenue is a revenue account affecting equity. Revenue accounts increase on the credit side; thus, Service Revenue will show an increase of $5,500 on the credit side. The company did not pay for the equipment immediately. Lynn asked to be sent a bill for payment at a future date.

Accounting and Accountability

Reference standard stability can be calculated by evaluating the expanded uncertainties reported in your calibration certificates. In this section, you will learn how to calculate reference standard stability from your calibration results.

credit of $

Essentially, anything a business owes and has yet to pay within a period is considered a liability, such as salaries, utilities, and taxes. Machinery is usually specific to a manufacturing business that has a factory producing goods. Machinery and buildings are often called PPE – Property Plant and Equipment. Use the accounting equation to calculate the value of liabilities if assets are $50,000 and owners’ equity is $25,000. The key components in measuring income are _______.

Calendar-Based Questions

Each transaction must have a dual effect on the accounting equation. For example, if an individual asset increases, there must be a corresponding decrease in another asset, or increase in a specific liability, or increase in stockholder’s equity.


We begin with the left side of the equation, the assets, and work toward the right side of the equation to liabilities and equity. Net income reported on the income statement flows into the statement of retained earnings. If a business has net income for the period, then this will increase its retained earnings for the period.

A preferential creditor is a creditor who is granted preferential status during

Having a balance in the Cash account is the normal balance for that account. The following are selected journal entries from Printing Plus that affect the Cash account. We will use the Cash ledger account to calculate account balances.

Which financial statement is an expanded version of the accounting equation?

The expanded accounting equation for a corporation is: Assets = Liabilities + Paid-in Capital + Revenues – Expenses – Dividends – Treasury Stock.

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