[经济学]会计学horngren_acct7_ch02-1.ppt

Recording Business Transactions Chapter 2 Objective 1 Use accounting terms Accounting Terms The Accounting Process Analyzing and Recording Process Source Documents Account Basic summary device Detailed record of increases and decreases in specific assets, liabilities, or owner’s equity during a period Ledger Book or printout holding all the accounts Accounting Terms Accounting Equation Accounts are grouped in 3 broad categories: Assets Economic resources that will benefit the business in the future Cash Accounts Receivable Notes Receivable Prepaid Expenses Land Building Equipment, Furniture, Fixtures Liabilities Creditors’ claims to assets (debt) Notes Payable Accounts Payable Accrued Liabilities (for expenses incurred but not paid) Long-term Liabilities (bonds) Owner’s Equity Owner’s claim to the assets Capital Withdrawals Revenues Expenses Classification of Accounts In a corporation, the owner’s equity account is called Stockholders’ Equity. Chart of Accounts List of all accounts used by a company along with the account numbers Accounting Terms Double-Entry Accounting Double entry bookkeeping means to record the dual effects of each business transaction. Assets = Liabilities + Owner’s Equity Assets are on the left (debit) side. Liabilities and Equity are on the right (credit) side. The T-Account The T-Account Luca Pacioli Luca Pacioli (1447-1517), monk and mathematician, published Summa de Arithmetica, Geometrica, Proportioni et Proportionalite in 1494. It was a summary of existing mathematical knowledge of the time and contained a section on Details of Accounting and Recording that described bookkeeping as used in Venice. Paciolis Summa was the first complete description of double entry bookkeeping. A memorandum book, journal, and ledger was required, with the journal and ledger similar to modern equivalents. A trial balance was used when the books were closed. The profit or loss was entered into the capital account to balance the balance sheet. Tha