会计英语第七单元课件.pptVIP

Unit Seven Accounting Cycle (4) Working paper Objectives 1 Review the basic steps of the accounting cycle 2 Prepare a work sheet 3 Prepare Financial Statements from a work sheet 4 Prepare the adjustment and closing entries from a work sheet 5 Explain what is meant by the fiscal year and the nature business year 一 Accounting Cycle 1 Definition _____ begins with analyzing and journalizing transactions and ends with summarizing and reporting these transactions. 2 basic steps: Transactions are analyzed and recorded in the journal. (2) Transactions are posted to the ledger. (3) A trial balance is prepared, adjustment data are assembled, and an optional work sheet is completed. (4)Ajusting entries are journalized and posted to the ledger. (5) Financial statements are prepared. (6) Closing entries are journalized and posted to the ledger. (7) A post-closing trial balance is prepared. 二 Work sheet: 1 Definition ____ is a working paper that accountants can use to summarize adjusting entries and the account balances for the financial statements. 2 This flow of data is the same in either a manual or a computerized accounting systems. 3 small companies: may not be necessary 4 work sheet is a useful device for understanding the flow of the accounting data from the unadjusted trial balance to the financial statements. Journal by A (Adjustments) Dec,31 2010 1 Dr. Supplies expense 1240 Cr. Supplies 1240 2 Dr. Insurance expense 100 Cr. Prepaid insurance 100 3 Dr. Unearned Rent 120 Cr. Rent revenue 120 4 Dr. Wages expense 250 Cr. Wages payable 250 5 Dr. Accounts receivable 500 Cr. Fees earned 500 6 Dr. Depreciation expense 50 Cr. Accumulation depreciation 50 ------office equipment 三 How to prepare work sheet? Heading : Name of the business ( A ) Name of the statement ( work sheet )