Kế toán, kiểm toán - Chapter two: Accounting for accruals and deferrals

BPMN stands for business process modeling notation The Object Management Group maintains the BPMN specification First specification issued in 2004 widely adopted Specifically designed for process modeling Designed to be understood by business people Software available to support modeling and subsequent process simulation

pptx13 trang | Chia sẻ: huyhoang44 | Lượt xem: 575 | Lượt tải: 0download
Bạn đang xem nội dung tài liệu Kế toán, kiểm toán - Chapter two: Accounting for accruals and deferrals, để tải tài liệu về máy bạn click vào nút DOWNLOAD ở trên
Chapter TwoAccounting for Accruals and DeferralsMcGraw-Hill/Irwin© 2015 McGraw-Hill Education.2-2Cash Basis vs. Accrual AccountingRecognitionRealizationFormally recording an economicitem or event in thefinancial statementsCollecting cash, generally from the sale of products or servicesVertical Statements Model2-3Comparing Cash Flow from Operating Activities with Net Income2-4The Closing ProcessTransfers net income (or loss) and dividends to Retained Earnings.Establishes zero balances in all revenue, expense, and dividend accounts. 2-5Temporary accounts track financial results for a limited period of time.Temporary and Permanent AccountsRevenuesExpensesDividendsTemporaryAccountsPermanent AccountsAssetsLiabilitiesEquityPermanent accounts track financial results from year to year.2-6Steps in an Accounting CycleRecord TransactionsAdjust AccountsPrepare StatementsClose Nominal Accounts2-7Matching ConceptThe objective of accrual accounting is to improve matching of revenues with expenses. Cash basis accounting can distort the measurement of net income because it sometimes fails to properly match revenues with expenses.The problem is that cash is not always received or paid in the period when the revenue is earned or when the expense is incurred.2-8The Conservatism PrincipleWhen faced with a recognition dilemma, conservatism guides accountants to select the alternative that produces the lowest amount of net income.2-9Preparing Financial Statements2-10Preparing Financial Statements2-11Preparing Financial Statements2-12Recap: Types of TransactionsThe described transactions can be classified into one of four categories:Asset useIncrease assets, increase claims on assets.Increase one asset, decrease another asset.Decrease assets, decrease claims on assets.Asset sourceAsset exchangeClaims exchangeIncrease one claims account, decrease another.2-13

Các file đính kèm theo tài liệu này:

  • pptxspptchap002_7648.pptx
Tài liệu liên quan