ANALYZINGANDRECORDINGTRANSACTIONS幻灯片.pptVIP

Chapter 02;Analyze each transaction and event from source documents;Sales Tickets;An account is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item.;THE ACCOUNT AND ITS ANALYSIS;Land;Accrued Liabilities;EquityAccounts;Liabilities;LEDGER AND CHART OF ACCOUNTS;DOUBLE-ENTRY ACCOUNTING;JOURNALIZING  POSTING TRANSACTIONS;Dollar amount of debits and credits;BALANCE COLUMN ACCOUNT;1;2;3;4;5;Enter the ledger reference.;ANALYZING TRANSACTIONS;ANALYZING TRANSACTIONS;ANALYZING TRANSACTIONS;ANALYZING TRANSACTIONS;ANALYZING TRANSACTIONS;After processing its remaining transactions for December, FastForward’s Trial Balance is prepared.;PREPARING A TRIAL BALANCE;SEARCHING FOR AND CORRECTING ERRORS;USING A TRIAL BALANCE TO PREPARE FINANCIAL STATEMENTS;INCOME STATEMENT;STATEMENT OF OWNERS EQUITY;BALANCE SHEET;PRESENTATION ISSUES;GLOBAL VIEW;ACCOUNTING CONTROLS AND ASSURANCE;Debt Ratio;END OF CHAPTER 02;Chapter 03;THE ACCOUNTING PERIOD;Accounting;Cash Basis Revenues are recognized when cash is received and expenses are recorded when cash is paid.;ACCRUAL BASIS VERSUS CASH BASIS;ACCRUAL BASIS VERSUS CASH BASIS;We have delivered the product to our customer, so I think we should record the revenue earned.;RECOGNIZING REVENUES EXPENSES; An adjusting entry is recorded to bring an asset or liability account balance to its proper amount.;Here is the check for my 24-monthinsurance policy.;PREPAID INSURANCE;SUPPLIES;OTHER PREPAID EXPENSES;Straight-Line Depreciation Expense;DEPRECIATION;;Equipment is shown net of accumulated depreciation.;UNEARNED (DEFERRED)REVENUES;UNEARNED (DEFERRED)REVENUES;UNEARNED (DEFERRED)REVENUES;We’re about one-half done with this job and want to be paid forour work!;FastForward’s employee earns $70 per day and is paid every two weeks on Friday. Year-end, 12/31/11, falls on a Wednesday. The last payday of 2011, is Friday, 12/26/11. From 12/26 until year-end is three working days. The employee has earned salarie