PAF3063B_Group_Assignment_An_Accounting_Primer_For_Young_Teenagers

ANPATRECIYMECONOEUUARNNGFGTEOIRRNSG

Meet Our
Authors

DIVYAA RANI FADLIN SAKINA AHMAD FARRIS NUR ADILA BINTI
NUREEN
A/P RAJULA BINTI AZMAN BIN AHMAD FUZI ZAMRI BATRISYA BINTI
MANICKAM (D20201092505)
(D20201092511) (D20201092432) (D20201092430) MOHD REZAL
(D20201092489)

Objective

This e book is created for young teenagers from the age 12 to 15 years old.
This book is aimed to be used by young teenagers who doesn't have any
accounting background and to gain knowledge in basic accounting concept.
It can be a basic guidance for them to learn accounting more further.

This book is created to :
a. Help young teenagers understand about the basic of accounting
b. Easier and convenient for the young teenagers to learn in e book
c. Able to differentiate between revenue, expenses, liabilities and equity

TOPIC OUTLINE

Intarcocdouucnttioinngto

Revenue and
expenses

Liabilities and equity

Activities

INATCRCODOTUUOCNTTIIONNG

Accounting covers a lot of ground but it's primarily
the recording of information.

There are basic rules First you have to recognize a financial
for accounting, and we transaction then record it and lastly
refer to those rules as report on it.
generally accepted Many people use accounting
accounting principles information, they can be divided into
(GAAP). two groups.

Internal users are those within a company who use the
information to make decisions to run the business and
external users are those outside the company like investors
and creditors.

Tip No. 1 Tip No. 2

REVENUE & EXPENSES

RWEHVAENTUISE?

Known as sales or
turnover of the business

The amount of money that enters a firm,
typically from sales or services.

The money was made from the transaction
that was arranged between the business and

the client is the revenue.

OEFXRAEMVPENLEUE

Example of revenue:
Operating revenue

Sales
Donation
Services Fees

Non operating
revenue(also known as
other income)

Sales of assets
Lawsuit proceeding
Dividends

WHAT IS EXPENSES ?

The money spent or costs
incurred by a company in
an effort to produce
revenue.

Expenses are the cost of
running a business in

accounting, which includes
the total of all the actions
that will ideally result in a

profitt

EXAMPLE OF EXPENSES

Example of expenses
1.Cost of goods sold
2.Operating expenses
3.Financial expenses
4.Extraordinary expenses
5.Non operating expenses

Tip No. 1 Tip No. 2

LIABILITIES & EQUITIES

WHAT IS
LIABILITIES?

something a person or company
owes, usually a sum of money

Recorded on the right side of
the balance sheet

Ex: loans, accounts payable,
bonds, accrued expenses

WHAT IS
EQUITIES?

Equity is the amount of
money that a

company's owner has
put into it or owns

For example: Common
stock, Preferred stock.
Treasury stock, Retained

earnings

ACTIVITIES/
GAMES

CROSSWORD PUZZLE!

SOLUTIONS

QUIZ GAME!

1)….. is receive money from the sale. 3) The company make loan from bank. It's ?

(a) expenses (a) equity
(b) revenue (b) expenses
(c) equity (c) revenue
(d) liabities (d) liabities

2) Expenses are the ..... by the company to run 4) ….. is the amount of money that a company's
the business. owner.

(a) cost (a) revenue
(b) revenue (b) expenses
(c) sale (c) equity
(d) equity (d) liabities

ANSWER

1) B
2) A
3) D
4) C