TAILIEUCHUNG - Lecture Principles of financial accounting (2/e) - Chapter 3: Adjusting accounts and preparing financial statements

After completing this chapter you should be able to: Explain the importance of periodic reporting and the time period assumption, explain accrual accounting and how it improves financial statements, identify the types of adjustments and their purpose. | Chapter 3 Adjusting Accounts and Preparing Financial Statements Chapter 3: Adjusting Accounts and Preparing Financial Statements The Accounting Period C 1 To provide timely information, accounting systems prepare reports at regular intervals. This results in an accounting process impacted by the time period (or periodicity) assumption. The time period assumption presumes that an organization’s activities can be divided into specific time periods such as a month, a three-month quarter, a six-month interval, or a year. Most organizations use a year as their primary accounting period. Many organizations also prepare interim financial statements covering one, three, or six months of activity. When we divide business activities into arbitrary fixed periods of time, it is often necessary to have special accounting for transactions that cross from one time period to the next. Most of our time will be spent looking at the special adjusting process for some of these transactions. Accrual Basis

• Kế toán - Kiểm toán
• Financial Accounting
• Principles of financial accounting
• Accounting information
• Adjusting accounts
• Preparing financial statements
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Accounting standards
• Financial reporting
• Financial Accounting Standards Board
• Fundamental financial accounting
• Lecture Fundamental financial accounting concepts
• Financial statement
• Accounting cycle
• Accounting for accruals
• Lecture Financial accounting
• Accounting system
• Accounting activities
• Financial accounting practice
• Accounting information system
• Accounting terminology
• Reporting financial results
• Evaluating liquidity
• Business firms
• The financial reporting reform
• Management accounting
• Accounting equation
• Accounting systems
• Decision making
• External financial reporting
• Accounting for business
• Lecture Accounting for business
• Financial accounting reports
• Statement of financial performance
• Accrual accounting systems
• Statement of financial position
• Mastering financial accounting essentials
• Financial accounting essentials
• Accrual accounting
• Income statement
• Accounting conventions
• Internal control
• Accounting for cash
• Accounting for receivables
• Computing uncollectible accounts expense
• Long term debt
• Accounting for long term debt
• Paper F3
• Revision kit 2016
• Accounting Financial
• Accounting Financial Review
• Financial Review accounting exam
• Study text 2016
• Language of business
• Double entry accounting system
• Credit terminology
• Merchandising businesses
• Accounting for merchandising businesses
• Accounting for inventories
• Cash discounts
• The accounting cycle
• International financial reporting standards
• Completing the accounting cycle
• Accounting worksheet
• Classified balance sheet