资源描述：
《Module 2 财务会计入门英》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、TheRecordingProcessLearningObjectivesExplainwhatanaccountisandhowithelpsintherecordingprocess.Definedebitsandcreditsandexplainhowtheyareusedtorecordaccountingtransactions.Explainwhatajournalisandhowithelpsintherecordingprocess.Explainwhatageneralledgerisandhowithelpsintherecordingprocess.Ex
2、plainwhatpostingisandhowithelpsintherecordingprocess.Explainthepurposeandlimitationsofatrialbalance.EventAnalysisSummary(Review)Aneconomiceventisanalysed.Ifrecognised,theeventwillbetwo-sided,affectingassets,liabilitiesand/orequity.Before,during,andafterrecognition,thereisequalityintermsofth
3、eaccountingequationRecordofincreasesanddecreasesinaspecificasset,liability,equity,income,orexpenseitem.AccountAnAccountcanbeillustratedinaT-Accountform.LO1:TheAccountDebit=“Left”Credit=“Right”IfDebitsaregreaterthanCredits,theaccountwillhaveadebitbalance.$10,000Transaction#2$3,000$15,0008,00
4、0Transaction#3BalanceTransaction#1LO1:TheAccountIfCreditsaregreaterthanDebits,theaccountwillhaveacreditbalance.$10,000Transaction#2$3,000BalanceTransaction#1LO1:TheAccount$1,0008,000Transaction#3Doubleentrysystem:Eachrecordableeventaffectsatleasttwoaccounts.Theincreaseordecreasetoanaccounti
5、srecordedwithadebitoracredit,dependingontheaccount.Foreachrecordableevent,totaldollardebitsmustequaltotaldollarcredits.LO2:DebitsandCreditsRulesofdoubleentrybookkeeping:A=L+OEA=L+ShareCapital+Income–Expenses–DividendsAssetsareontheleft,soincreasethemwithdebits.Liabilitiesandequityareontheri
6、ght,soincreasethemwithcredits.Equityisincreasedwithsharecapitalandincome(includingrevenues),soincreasetheseaccountswithcredits.Butexpensesandthe“Dividends”accountdecreaseequity,soincreasetheseaccountswithdebits.LO2:DebitsandCreditsNormalBalanceCreditNormalBalanceDebitLO2:DebitsandCreditsIss
7、uanceofsharecapital,reserves,andincomeincreaseequity(credit).Dividendsandexpensesdecreaseequity(debit).LO2:DebitsandCreditsWhatisthe“normal”balanceofeachofthefollowingaccounts?AdvertisingExpense.DividendRevenue.DividendsReceivable.ShareCapital.Dividends.
