TAILIEUCHUNG - Lecture Fundamental accounting principles (21/e) - Chapter 2: Analyzing and recording transactions

After completing this chapter you should be able to: Explain the steps in processing transactions and the role of source documents, describe an account and its use in recording transactions, describe a ledger and a chart of accounts, define debits and credits and explain double-entry accounting. | Analyzing and Recording Transactions Chapter 2 Chapter 2: Analyzing and Recording Transactions C 1 Analyzing and Posting Process The accounting process identifies business transactions and events, analyzes and records their effects, and summarizes and presents information in reports and financial statements. These reports and statements are used for making investing, lending, and other business decisions. The accounting process identifies business transactions and events, analyzes and records their effects, and summarizes and presents information in reports and financial statements. These reports and statements are used for making investing, lending, and other business decisions. The steps in the accounting process that focus on analyzing and recording transactions and events are shown on this slide. We begin the accounting process by analyzing source documents. For example, you usually receive a receipt when you pay cash for something. Think about the last time you went to a fast food restaurant. When you received your order, you were given a receipt, a source document. If you wanted a company to reimburse you for the meal because you were traveling on company business, you must present evidence of your expenditure. This evidence takes the form of a source document, the receipt. Once we identify a business transaction, we record it in a journal. A journal is arranged in chronological order. Transactions are recorded by date of occurrence. At the end of the accounting period, usually a month, transactions in the journal are posted to a ledger account. Posting is the systematic process of transferring information from the journal to the ledger. The ledger groups transactions by the accounts impacted. For example, we will have a ledger account for cash. All transactions that result in increases or decreases in the cash account will be posted to the cash ledger account. Once all transactions have been posted, we prepare a trial balance. The purpose of the trial .

• Kế toán - Kiểm toán
• Recording transactions
• Analyzing transactions
• Trial balance
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Lecture Accounting principles
• The recording process
• Recording business transactions
• he recording process
• Recording process
• Record business transactions
• Financial accounting
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• Financial statements
• Transaction analysis
• Accounting mathematics
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• Describe common accounts
• Define debits
• Normal account balances
• Accounting in practice
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• Process of recording transactions
• Book of prime entry
• Ledger accounting
• Double entry
• The basic steps
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• Bài giảng Nguyên lý kế toán tài chính
• Process transactions
• Bài giảng Nguyên lý kế toán
• The general journal
• Record transactions
• Double entry accounting
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• Bank transactions
• Final accounts
• A business perspective
• Business decisions
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• Merchandising transactions
• Principles of accounting I
• Principles of accounting
• Accounting concepts
• Classifying transactions
• Managerial accounting
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• Managerial decisions
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