'Accrued revenues' diaporamas de présentation

Welcome to AB113 Accounting For Non-Majors Unit 4

Welcome to AB113 Accounting For Non-Majors Unit 4. Professor David Levenstam Unit 4 Seminar. Welcome to AB113 Accounting For Non-Majors Unit 4. Professor David Levenstam Unit 4 Seminar. Reading, Help & Contact. Reading: Survey of Accounting, Chapter 3 Author: Warren

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Chapter 3 The Adjusting Process

Chapter 3 The Adjusting Process. What is the Difference Between Cash Basis Accounting and Accrual Basis Accounting?. Cash basis accounting Revenue is recorded when cash is received. Expenses are recorded when cash is paid. Not allowed under GAAP. Accrual basis accounting

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Chapter 4 Completing the Accounting Cycle

Chapter 4 Completing the Accounting Cycle. LEARNING OBJECTIVES. 1. State all the steps in the accounting cycle. 2. Explain the purposes of closing entries. 3. Prepare the required closing entries. 4. Prepare the post-closing trial balance. 5. Prepare reversing entries as appropriate.

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Accounting Cycle

Adjust the accounts and prepare trial balance. Analyze and record the transactions. Post the transactions and prepare trial balance. Prepare the financial statements. Close the accounts and prepare trial balance. Accounting Cycle. Matching Principle.

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TIME PERIOD ASSUMPTION

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ADJUSTING THE ACCOUNTS

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By : Sara AlSager

Adjustment. By : Sara AlSager. Adjustment Types. Revenues. Expenses. Deferrals. Accruals. Deferrals. Accruals. Revenues. Deferrals: refers to receipts in one accounting period, but they will be earned in future accounting periods.

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