2010会计英语第四单元.pptVIP

Unit Four  Accounting Cycle Journal and Ledger Learning Objectives: 1 Grasp several basic concepts about accounting 2 Summarize journal and ledger from different aspects. 3 How to identify and locate each account in the ledger? How to assign the various groups of accounts? 一 Basic concepts 1 Account _____ show the increases and decreases in each financial statement item in a separate record. 2 Ledger _____ a group of accounts for a business entity. （complete set of accounts for a business entity.） 3 Chart of account _____ a listing of the accounts in the ledger. (code of accounts: listing of the accounts by title and numerical designation, it is a systematic method of identify and locate each account in the ledger.) 4 T account _____ account resemble the letter “T”. 5 Debit / Credit (side) _____ the left side of all accounts is the debit side, and the right side is the credit side. Debited (charged) / credited (enter data) Debits (Dr.) / Credits (Cr.) (amounts) Debit balance / Credit balance (balance of the account) 6 Journal _____ transaction is initially entered in a record called a journal. (chronological record of all business transactions.) Journalizing _____ the process of recording a transaction. Journal entry _____ the form of recording the transaction. 7 Double-entry accounting system 8 Posting _____ the process of transferring the debits and credits from the journal entries to the accounts. 9 General ledger ______ book used to list all accounts established by an organization. 10 Subsidiary ledger _____ further simplification of the general ledger. 二 Summarize them from different points given below: journals → Ledgers (posting monthly) 1 definition：book of original entry book of secondary/subsequent entry 2 brief description：chronological (day by day) record of transactions Complete set of accounts 3 base: transactions accounts 4 classifications: General journal Specialized