TAILIEUCHUNG - Lecture Financial accounting: Tools for business decision making - Chapter 4: Accrual accounting concepts

This chapter’s objectives are to: Explain the accrual basis of accounting and the reasons for adjusting entries, prepare adjusting entries for prepayments, prepare adjusting entries for accruals, prepare an adjusted trial balance and financial statements, prepare closing entries and a post-closing trial balance. | Accrual Accounting Concepts Kimmel ● Weygandt ● Kieso Financial Accounting, Eighth Edition 4 Prepare adjusting entries for deferrals. CHAPTER OUTLINE Explain the accrual basis of accounting and the reasons for adjusting entries. 1 2 LEARNING OBJECTIVES Prepare adjusting entries for accruals. 3 Prepare an adjusted trial balance and closing entries. 4 LEARNING OBJECTIVE Explain the accrual basis of accounting and the reasons for adjusting entries. 1 LO 1 Generally a month, a quarter, or a year. Fiscal year vs. calendar year. Accountants divide the economic life of a business into artificial time periods (Periodicity Assumption). Jan. Feb. Mar. Apr. Dec. . . . . . ▼ HELPFUL HINT An accounting time period that is one year long is called a fiscal year. Periodicity Assumption Review Question What is the periodicity assumption? Companies should recognize revenue in the accounting period in which it is earned. Companies should match expenses with revenues. The economic life of a business can

• Kế toán - Kiểm toán
• Accrual accounting
• Revenue recognition
• Financial accounting
• Lecture Financial accounting
• Business decision
• Kế toán tài chính
• Intermediate accounting
• Lecture Intermediate accounting
• Financial accounting environment
• Cash versus accrual accounting
• The role analysis of accrual management
• Loss loan provision factor
• Fair value accounting to earnings volatility
• The Stock Exchange of Indonesia Website
• Indonesia Capital Market
• The accrual management role
• Lecture Introduction to financial accounting
• Financial statements
• Accounting method
• Cash basis method
• Accrual method
• Malaysian public agency
• Asset accounting system
• Government Transformation Program
• International Public Sector Accounting Standards
• Theoretical structure
• International standard setting
• Double entry
• Accounting cycle
• Accounting entity
• Accounting principles
• Accrual Basis of Accounting
• Financial reporting
• Financial information
• Financial statement analysis
• Income determination
• Revenue recognition recap
• The prediction of future operating cash flows
• Accrual based and cash based accounting information
• Empirical evidence from Vietnam
• Forecasting cash flows
• Address econometric issues
• Ho Chi Minh Stock Exchange
• Fixed Effects Model
• 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
• Income statement
• Accounting conventions
• Adjusting the accounts
• Accounting period
• Adjusting entries
• Lecture International accounting
• International accounting
• The adjusting process
• Accrual accounting versus cash basis
• Other accounting principles
• Two categories of adjusting entries
• The adjusted trial balance
• Managerial accounting
• The financial statements
• The accounting information system
• Internal control
• Operating assets
• Survey of accounting
• Basic accounting concepts
• Accrual accounting concepts
• Accounting for merchandising businesses
• Intangible assets
• Receivables and inventories
• Learning Financial accounting
• Analyzing Inventory
• Statement of Cash Flows
• The annual report
• Processing accounting information
• Income measurement
• Receivables and investments
• A cash flow basis
• An accrual accounting basis
• Asset value measurement
• An economist’s approach
• Accounting for inflation
• Financial statements statements
• A further look at financial statements