CAP财会英语课程8.pptVIP

Accounting English Accounting English Steps in the accounting cycle Lesson Eight Adjusting Procedures Part 1 Words and Phrases Apportion---- v.t. divide; distribute; give as a share I have apportioned you different duties each day of the week. This sum of money is to be apportioned among the six boys. Apportioning recorded costs to periods benefited. Apportioning recorded revenue to periods in which it is earned. Part 1 Words and Phrases Accrue??? v.t., v.i. come as a natural growth or development. If you keep your money in the Savings Bank, interest accrued. Accrued interest is interest due, but not yet paid or received. Accruing unrecorded expenses Accruing unrecorded revenue Part 1 Words and Phrases Expire ??? v.i. (of a period of time )come to an end When does your driving license expire? At the end of each accounting period, the estimated portion of the outlay that has expired during the period or that has benefited the period must be transferred from an asset account to an expense account. Part 1 Words and Phrases Align??? v.t. bring, come, into agreement, close cooperation etc (with) Adjusting entries made to align revenue and expense with the appropriate periods consist of four types: (1) Apportioning recorded costs . (2) Apportioning recorded revenue. (3) Accruing unrecorded expenses. (4) Accruing unrecorded revenue. Terms --Accounting Basis Terms –Inventory System Part 2 Presentation Part 2 Presentation ---Purpose of adjusting (Why) Part 2 Presentation --- When Part 2 Presentation ---Four Types of Adjusting Entries Type 1---Apportioning recorded costs Type 1---Apportioning recorded costs Type 1---Apportioning recorded costs Type 2--- Apportioning recorded revenue Unearned Service Revenue 900 Service Revenue 900 Type 3--- Accruing unrecorded expenses Type 3--- Accruing unrecorded expenses Type 4--- Accruing unrecorded revenue Interest Receivable 3,900 Interest Revenue