Time period concept - PowerPoint PPT Presentation

ACG2021 Financial Accounting

ACG2021 Financial Accounting. Chapter 3 Using Accrual Accounting to Measure Income. Learning Objectives. Relate accrual accounting and cash accounting Apply the revenue and matching principles Update the financial statements by adjusting the accounts Close the books

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795 views • 53 slides

ACG2021 Financial Accounting

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787 views • 53 slides

Chapter 3 Adjusting the Accounts

Chapter 3 Adjusting the Accounts. Part 1 of 3. Concepts to Be aware of:. Time Period Concept A business lifecycle can be divided into artificial time periods. Time periods less than a yr. Interim Periods Revenue Recognition Service Sector – earned when service is preformed

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261 views • 11 slides

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