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ID:58527786
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时间:2020-10-21
《会计英语课件ch2-accounting-cycle.ppt》由会员上传分享,免费在线阅读,更多相关内容在教育资源-天天文库。
1、Chapter2AccountingCycleUnit1AccountingEquationanddouble-entryAccountingUnit2BasicsofAccountingCycleUnit3JournalsUnit4LedgersUnit5AdjustingProceduresUnit6ClosingProcessUnit7TrialBalance2TheaccountingequationBusinesstransactionsalwaysaffectatleasttwoelementsintheaccountingequation.Theaccountin
2、gequationis:Assets=Liabilities+EquityAfteratransactionisrecorded,theaccountingequationmustbeinbalance.(1)Recording(2)Reporting(BasicStepsofAccountingProcessing)ExampleontextbookTheaccountingequationUsingofanaccountIncreasesarerecordedononesideoftheT-account,anddecreasesarerecordedontheothers
3、ide.Thebalanceisthedifferencebetweenthedebitandcreditentriesintheaccount.4LeftorDebitSideRightorCreditSideTitleofAccountT-accountanddebit&credit5Theentiregroupofaccountsiskepttogetherinanaccountingrecordcalledaledger.CashAccountsPayableJillJones,CapitalAccountsareindividualrecordsshowingincr
4、easesanddecreases.……AccountsandLedger6Eachaccountisassignedauniquenumberinthecompany’schartofaccounts.Commonlyusedassetaccountsinclude:CashAccountsreceivableEquipmentBuildingsLand……AccountsandLedger7Commonlyusedliabilityaccountsinclude:AccountspayableNotespayableSalariesorWagespayableCommonl
5、yusedequityaccountsinclude:Owner’scapitalOwner’swithdrawalsRevenuesExpenses……AccountsandLedger8A=L+OEASSETSDebitforIncreaseCreditforDecreaseEQUITIESDebitforDecreaseCreditforIncreaseLIABILITIESDebitforDecreaseCreditforIncreaseDebitsandcreditsaffectaccountsasfollows:DebitandCreditRules…9A=L+OE
6、DebitbalancesCreditbalances=Inthedouble-entryaccountingsystem,everytransactionisrecordedbyequaldollaramountsofdebitsandcredits.DebitandCreditRules…10TheStepsofAccountingcycleThetermaccountingcyclereferstothestepsinpreparingfinancialstatements.Theaccountingcycleincludesstandardizedprocedurest
7、hatareperformedinsequenceduringeveryaccountingperiod.SourcedocumentsRecordinJournalFinancialStatementsTransactionAnalysisPosttoLedgerUnadjustedTrialBalanceRecord&PostAdjustingEntriesAdjustedTrialBalanceCloseTemporaryAccountsPost-ClosingTrialBalance
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