Managing Assets and Payroll (01:44)
Learn what constitutes an asset. Accurate accounting for payroll and assets is vital for business success.
Tangible and Intangible Assets (01:44)
Tangible assets are physical, intangible assets are not physical but have value. Vocabulary includes patents, capital expenditures, and unrelated costs.
Asset Accounts (05:07)
Learn the 10 common business accounts. Vocabulary includes accounts receivable, notes receivable, prepaid insurance, inventory, business supplies, land, and intangible assets.
Grouping Assets (02:18)
Assets are grouped based on their liquidity. Vocabulary includes current assets, fixed assets, and depreciation.
Learn the four methods of asset depreciation. Vocabulary includes residual value, matching principle, straight line depreciation, declining balance, sum of years digits, and units of production.
Payroll Accounting (03:17)
Learn the seven common payroll related accounts. Vocabulary includes W-2, 1099-MISC, salary, wages. overtime, gross pay, deductions, net pay, and variable benefits.
The Matching Principle for Payroll Accounting (02:21)
Record revenues and expenses when they occur. Vocabulary includes accumulating revenue, legal compliance, and human resources.
Credits: Managing Assets and Payroll: Accounting Fundamentals (00:45)
Credits: Managing Assets and Payroll: Accounting Fundamentals
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