会计英语培训资料英文版).ppt

《会计英语培训资料英文版).ppt》由会员上传分享，免费在线阅读，更多相关内容在PPT专区-天天文库。

1、UnitFourAccountingCycle(3)AdjustmentsObjectives:1Explainhowthematchingconceptrelatestotheaccrualbasisofaccounting.2Explainwhyadjustmentsarenecessaryandlistthecharacteristicofadjustingentries.3Journalizeentriesforaccountsrequiringadjustment.4Summarizetheadjustmentprocessandprepareanadjustmenttri

2、albalance.一accountingperiod→cashbasis(receivedorpaid)accrualbasis(earnedorrelate):revenuerecognitionconcept→matchingprincipleGAAPrequiretheuseoftheaccrualbasis,smallservicebusinessesmayusethecashbasisbecausetheyhavefewreceivablesandpayables.Thematchingprinciplesupportsrecordingrevenuesandrelatee

3、xpensesinthesameperiod.二Attheendofanaccountingperiod,someaccountsintheledgerrequireupdating.Thejournalentriesthatbringtheaccountsuptogateattheendoftheaccountingperiodarecalledadjustingentries.三Fourtypicaladjustingentries:Deferrals---------arecreatedbyrecordingatransactioninawaythatdelaysordefers

4、therecognitionofanexpenseorarevenue.㈠Deferredexpenses(prepaidexpenses)→becomeexpenseovertime(1)supplies(2)prepaidinsurance(3)prepaidadvertising(4)prepaidinterest㈡Deferredrevenues(unearnedrevenue)→becomerevenuesovertime(1)unearnedrent(2)tuition(3)annualretailerfee(4)premium(5)magazinesubscription

5、sAccruals---------arecreatedbyanunrecordedexpensethathasbeenincurredoranunrecordedrevenuethathasbeenearned.㈢Accruedexpenses(accruedliabilities)→expensehavebeenincurredbutnotrecorded(1)accruedwages(2)accruedinterestonnotespayable(3)accruedtaxes㈣Accruedrevenues(accruedassets)→revenuesearnedbutnotr

6、ecorded(1)feesforservices(2)unbilledcommissions(3)accruedinterestonnotesreceivable(4)accruedrentSummarize:1Howdoyoutellthedifferencebetweendeferralsandaccruals?Ifcashisreceivedorpaidinthecurrentperiod,buttherevenueorexpenserelatestoafutureperiod,therevenueorexpenseisadeferreditem.Ifcashwillnotbe

7、receivedorpaiduntilafutureperiod,buttherevenueorexpenserelatestothecurrentperiod,therevenueorexpenseisanaccrueditem.Currentaccountingperiod→(cashreceivedorpaid)(revenueorexpenseincurred)→futureaccountingperiod(revenueorexpen