TAILIEUCHUNG - Lecture Financial accounting (9th Edition): Chapter 2 - Weygandt, Kieso, Kimmel

Chapter 2 - The recording process. The following will be discussed in this chapter: Explain what an account is and how it helps in the recording process; define debits and credits and explain their use in recording business transactions, identify the basic steps in the recording process,. | Preview of Chapter 2 Financial Accounting Ninth Edition Weygandt Kimmel Kieso 2 Learning Objectives After studying this chapter, you should be able to: [1] Explain what an account is and how it helps in the recording process. [2] Define debits and credits and explain their use in recording business transactions. [3] Identify the basic steps in the recording process. [4] Explain what a journal is and how it helps in the recording process. [5] Explain what a ledger is and how it helps in the recording process. [6] Explain what posting is and how it helps in the recording process. [7] Prepare a trial balance and explain its purposes. The Recording Process A record of increases and decreases in a specific asset, liability, equity, revenue, or expense item. Debit = “Left” Credit = “Right” Account An account can be illustrated in a T-account form. LO 1 The Account 2 Learning Objectives After studying this chapter, you should be able to: [1] Explain what an account is and how it helps in the recording process. [2] Define debits and credits and explain their use in recording business transactions. [3] Identify the basic steps in the recording process. [4] Explain what a journal is and how it helps in the recording process. [5] Explain what a ledger is and how it helps in the recording process. [6] Explain what posting is and how it helps in the recording process. [7] Prepare a trial balance and explain its purposes. The Recording Process Double-entry system Each transaction must affect two or more accounts to keep the basic accounting equation in balance. Recording done by debiting at least one account and crediting another. DEBITS must equal CREDITS. Debit and Credit Procedure The Account LO 2 If Debit amounts are greater than Credit amounts, the account will have a debit balance. $10,000 Transaction #2 $3,000 $15,000 8,000 Transaction #3 Balance Transaction #1 Debits and Credits LO 2 $10,000 Transaction #2 $3,000 Balance Transaction #1 $1,000 8,000 Transaction #3 If .

• Kế toán - Kiểm toán
• Recording process
• Record business transactions
• Trial balance
• Financial accounting
• Lecture Financial accounting
• Kế toán tài chính
• Lecture Accounting principles
• Accounting principles
• The recording process
• Recording business transactions
• he recording process
• The basic steps
• Lecture Principles of financial accounting
• Bài giảng Nguyên lý kế toán tài chính
• Process transactions
• Financial reporting
• Credit procedure
• Accounting equation expanded
• Accounting in practice
• Lecture Accounting in practice
• Process of recording transactions
• Book of prime entry
• Ledger accounting
• Double entry
• Lecture Software process improvement
• Bài giảng Cải tiến quy trình phần mềm
• Software process improvement
• Inspection meeting
• Read the work product
• Data recording
• electrical engineering
• electronics
• audio tapes
• broadband
• the frequency standard
• audio elecronics
• process engineering
• basic programming
• information technology
• system design
• Accounting in action
• Adjusting the accounts
• Completing the accounting cycle
• Plant assets
• Natural resources
• Horngren’s accounting
• The business environment
• The adjusting process
• Merchandise inventory
• Accounting information systems
• Internal control and cash
• Horngren’s financial
• M anagerial accounting
• The financial chapters
• Merchandising operations
• The accounting cycle
• Current liabilities
• Hospitality financial accounting
• Hospitality accounting
• Subsidiary ledgers
• Accounting for receivables
• Accounting for merchandising operations
• Internal control
• Managerial accounting
• Financial and managerial accounting