intermediateaccountingAReviewoftheAccountingCycle幻灯片.pptVIP

;Learning Objectives;Identify and explain the basic steps in the accounting process (accounting cycle).;;Recording Phase;Reporting Phase;Analyze transactions and make and post journal entries.;Double-Entry Accounting;A debit is an entry on the left side of an account.;;Summarizing;Summarizing;Journalizing Transactions;Date;An account is used to summarize the effects of transactions on each element of the expanded accounting equation.;Posting to the Ledger Accounts;Posting to the Ledger Accounts;Posting to the Ledger Accounts;Make adjusting entries, produce financial statements, and close nomin