财务会计专业英语ppt课件.ppt

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1、COMPLETINGTHEACCOUNTINGCYCLEChapter4BENEFITSOFAWORKSHEETAidsthepreparationoffinancialstatements.Reducespossibilityoferrors.Linksaccountsandtheiradjustments.Assistsinplanningandorganizinganaudit.Helpsinpreparinginterimfinancialstatements.Showstheeffectsofproposedtransaction

2、s.Notarequiredreport.P1FastForwardWorkSheetForMonthEndedDecember31,2009First,entertheunadjustedamountstotheworksheet.P1Next,entertheadjustments.FastForwardWorkSheetForMonthEndedDecember31,2009P1Prepareadjustedtrialbalance.FastForwardWorkSheetForMonthEndedDecember31,2009F

3、astForwardWorkSheetForMonthEndedDecember31,2007Sortadjustedtrialbalanceamountstofinancialstatements.P1FastForwardWorkSheetForMonthEndedDecember31,2007Totalstatementcolumns,computeincomeorloss,andbalancecolumns.P1PreparetheIncomeStatement.PREPARETHEFINANCIALSTATEMENTSAwo

4、rksheetdoesnotsubstituteforfinancialstatements.P1PreparetheStatementofOwner’sEquity.P1PreparetheBalanceSheet.CLOSINGPROCESSResetsrevenue,expenseandwithdrawalaccountbalancestozeroattheendoftheperiod.Helpssummarizeaperiod’srevenuesandexpensesintheIncomeSummaryaccount.Identi

5、fyaccountsforclosing.Recordandpostclosingentries.Preparepost-closingtrialbalance.C1TemporaryAccountsRevenuesIncomeSummaryExpensesWithdrawalsPermanentAccountsAssetsLiabilitiesOwner’sCapitalTEMPORARYANDPERMANENTACCOUNTSTheclosingprocessappliesonlytotemporaryaccounts.C1Let

6、’sseehowtheclosingprocessworks!RECORDINGCLOSINGENTRIESCloseRevenueaccountstoIncomeSummary.CloseExpenseaccountstoIncomeSummary.CloseIncomeSummaryaccounttoOwner’sCapital.CloseWithdrawalstoOwner’sCapital.P2Usingtheadjustedtrialbalance,let’spreparetheclosingentriesforFastForwar

7、d.P2CloseRevenueaccountstoIncomeSummary.P2CLOSEREVENUEACCOUNTSTOINCOMESUMMARYNow,let’slookattheledgeraccountsafterpostingthisclosingentry.Dr.Cr.Dec.31Consultingrevenue7,850Rentalrevenue300Incomesummary8,150P2CLOSEREVENUEACCOUNTSTOINCOMESUMMARYP2CloseExpenseaccountstoIncom

8、eSummary.P2Now,let’slookattheledgeraccountsafterpostingthisclosingentry.CLOSEEXPEN