内容说明中财1和1wileyplus ch03.pptx

PREVIEW OF CHAPTER 3;Understand the basic accounting information system. Record and summarize basic transactions. Identify and prepare adjusting entries.;Accounting information system Collects and processes transaction data. Disseminates the financial information to interested parties.;Helps management answer such questions as: How much and what kind of debt is outstanding? Were sales higher this period than last? What assets do we have? What were our cash inflows and outflows? Did we make a profit last period? Are any of our product lines or divisions operating at a loss? Can we safely increase our dividends to stockholders? Is our rate of return on net assets increasing?;Journal Posting Trial Balance Adjusting Entries Financial Statements Closing Entries;An account shows the effect of transactions on a given asset, liability, equity, revenue, or expense account. Double-entry accounting system (two-sided effect). Recording done by debiting at least one account and crediting another. DEBITS must equal CREDITS.;Debits and Credits;$10,000;If the sum of Credit entries are greater than the sum of Debit entries, the account will have a credit balance.;;Balance Sheet;The Accounting Equation;Double-Entry System Illustration;Assets;Assets;Assets;Assets;Assets;Assets;Assets;Ownership structure dictates the types of accounts that are part of or affect the equity section.;;The Accounting Cycle;Identify and Recording Transactions;Understand the basic accounting information system. Record and summarize basic transactions. Identify and prepare adjusting entries.;General Journal – a chronological record of transactions. Journal Entries are recorded in the journal. ;Posting – Transferring amounts from journal to ledger. ;An Expanded Example;;;;;;;7. October 9: Pioneer Advertising signs a contract with a local newspaper for advertising inserts (flyers) to be distributed starting the last Sunday in November. Pioneer will start work on the content of the flyers in November. Payme