TAILIEUCHUNG - Lecture Issues in financial accounting – Lecture 5: Adjusting entries, financial statement, closing entries

In this chapter, the following content will be discussed: Explain the time period assumption, explain the accrual basis of accounting, explain the reasons for adjusting entries, identify the major types of adjusting entries, prepare adjusting entries for deferrals. | Adjusting Entries, Financial Statement, Closing Entries Lecture 05 Explain the reasons for preparing adjusting entries. Prepare financial statement from the adjusted trial balance. Prepare closing entries. Learning Objectives Adjusting Entries for Accruals Illustration 3-27 Accruals are either accrued revenues or accrued expenses. LO 5 Explain the reasons for preparing adjusting entries. Revenues earned but not yet received in cash or recorded. Adjusting Entries for “Accrued Revenues” rent interest services performed BEFORE Accrued revenues often occur in regard to: Cash Receipt Revenue Recorded Adjusting entry results in: LO 5 Explain the reasons for preparing adjusting entries. Accrued Revenues. In October Pioneer earned $2,000 for advertising services that it did not bill to clients before October 31. Thus, Pioneer makes the following adjusting entry. Service revenue 2,000 Accounts receivable 2,000 Oct. 31 Debit Credit Accounts Receivable 72,000 Adjusting Entries for “Accrued .

• Kế toán - Kiểm toán
• Financial accounting
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Adjusting entries
• Financial statement
• Closing entries
• Accounting standards
• Financial reporting
• Financial Accounting Standards Board
• Fundamental financial accounting
• Lecture Fundamental financial accounting concepts
• 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
• Accounting information
• 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