会计英语课件ch2-accounting-cycle.ppt

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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