TAILIEUCHUNG - Lecture Fundamental accounting principles - Chapter 2: Analyzing and recording transactions

After completing this chapter you should be able to: Identify examples of accounting source documents; explain the importance of source documents; explain what a compound journal entry is, describe the link between the income statement and the statement of owner’s equity,. | Analyzing and Recording Transactions Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education 1 Chapter 2 PowerPoint Editor: Beth Kane, MBA, CPA Wild, Shaw, and Chiappetta Fundamental Accounting Principles 22nd Edition Chapter 2: Analyzing and Recording Transactions 02-C1: Analyzing and Recording Process 2 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. 3 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

• Kế toán - Kiểm toán
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Recording transactions
• Analyzing transactions
• Trial balance
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting