TAILIEUCHUNG - Lecture Intermediate accounting (13th edition): Chapter 3 - Kieso Weygandt, Warfield

After completing this chapter you should be able to: Understand basic accounting terminology, explain double-entry rules, identify steps in the accounting cycle, record transactions in journals, post to ledger accounts, and prepare a trial balance, explain the reasons for preparing adjusting other contents. | C H A P T E R 3 THE ACCOUNTING INFORMATION SYSTEM Intermediate Accounting 13th Edition Kieso, Weygandt, and Warfield Understand basic accounting terminology. Explain double-entry rules. Identify steps in the accounting cycle. Record transactions in journals, post to ledger accounts, and prepare a trial balance. Explain the reasons for preparing adjusting entries. Prepare financial statement from the adjusted trial balance. Prepare closing entries. Learning Objectives 1. On the topic, “Challenges Facing Financial Accounting,” what did the AICPA Special Committee on Financial Reporting suggest should be included in future financial statements? Non-financial Measurements (customer satisfaction indexes, backlog information, and reject rates on goods purchases). Forward-looking Information Soft Assets (a company’s know-how, market dominance, marketing setup, well-trained employees, and brand image). Timeliness (no real time financial information) Identifying and recording Journalizing Posting Trial balance Adjusting entries Adjusted trial balance Preparing financial statements Closing Post-closing trial balance Reversing entries Accounting Information System The Accounting Cycle Financial Statements for Merchandisers Basic terminology Debits and credits Accounting equation Financial statements and ownership structure Income statement Statement of retained earnings Balance sheet Closing entries The Accounting Information System Service Cost - Actuaries compute service cost as the present value of the new benefits earned by employees during the year. Future salary levels considered in calculation. Interest on Liability - Interest accrues each year on the PBO just as it does on any discounted debt. Actual Return on Plan Assets - Increase in pension funds from interest, dividends, and realized and unrealized changes in the fair market value of the plan assets. Amortization of Unrecognized Prior Service Cost - The cost of providing retroactive benefits is allocated to .

• Kế toán - Kiểm toán
• Intermediate accounting
• Lecture Intermediate accounting
• The accounting information system
• Information system
• The accounting cycle
• A trial balance
• Financial Accounting
• Accounting process
• Accounting equation
• Accounting processing cycle
• Stock issuance
• Estimating reserves
• Liquidating dividends
• Accounting changes
• Error corrections
• Accounting choices
• Theoretical structure
• Accrual accounting
• Financial accounting environment
• Accounting for leases
• Leasing environment
• Accounting by lessee
• Special accounting problems
• Cash versus accrual accounting
• International standard setting
• Accounting standards
• Accounting assists
• The challenges facing accounting
• Income taxes
• Accounting for income taxes
• Deferred tax liabilities
• Error analysis
• Accounting policy
• Accounting estimate
• Accounting policies
• Financial reporting
• Accounting information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process