Managing Assets and Payroll (01:44)

FREE PREVIEW

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.

Depreciation (07:33)

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