上海海事外国会计选读chapter04.pptVIP

Adjusting entries are recorded in the journal at the end of the accounting period. Real accounts 实账户 the accounts: asset, liability, reserve and capital -- whose balances are not canceled out at the end of an accounting period, but are carried over to the next period. These accounts appear on the post-closing trial balance and the statement of condition (balance sheet). Also called permanent accounts. Temporary accounts / nominal accounts 虚账户 Accounts which are concerned with revenue and expenses, such as sales, purchases, etc The Closing Process Post-closing Trial Balance * * Chapter 4 Completing the Accounting Cycle 1. Accounting Cycle Financial Statements Adjusting and Closing Entries Fiscal Year Contents Accounting Cycle 会计循环 The process that begins with analyzing and journalizing transactions and ends with summarizing and reporting these transactions is called the accounting cycle. The most important output of the accounting cycle is the financial statements Seven Basic Steps of the Accounting Cycle 1. Transactions are analyzed and recorded in the journal. 2. Transactions are posted to the ledger. 3. A trial balance is prepared, adjustment data are assembled, and an optional work sheet is completed. 4. Financial statements are prepared. 5. Adjusting entries are journalized and posted. 6. Closing entries are journalized and posted. 7. A post-closing trial balance is prepared. Classified Balance Sheet Classified Balance Sheet: A balance sheet that groups the accounts into subcategories to help readers quickly gain a perspective on the company’s financial position Assets: grouped into current assets and long-term assets Liabilities: grouped into current liabilities and long-term liabilities Classification of Assets Current Assets 流动资产:Cash plus assets that are expected to be converted to cash or sold or consumed during the next 12 months or within the normal operating cycle of longer than a year Monetary assets: Assets that have a fixed monetary exchange val