会计学原理原文第18版 第四章ppt课件.ppt

Chapter4 CompletingtheAccountingCycle ConceptualChapterObjectives C1 ExplainwhytemporaryaccountsareclosedeachperiodC2 IdentifystepsintheaccountingcycleC3 Explainandprepareaclassifiedbalancesheet AnalyticalChapterObjectives A1 Computethecurrentratioanddescribewhatitrevealsaboutacompany sfinancialcondition ProceduralChapterObjectives P1 PrepareaworksheetandexplainitsusefulnessP2 DescribeandprepareclosingentriesP3 Explainandprepareapost closingtrialbalanceP4 Appendix4A Preparereversingentriesandexplaintheirpurpose BenefitsofaWorkSheet Aidsthepreparationoffinancialstatements Reducespossibilityoferrors Linksaccountsandtheiradjustments Assistsinplanningandorganizinganaudit Helpsinpreparinginterimfinancialstatements Showstheeffectsofproposedtransactions Notarequiredreport P1 FastForwardWorkSheetForMonthEndedDecember31 2007 First entertheunadjustedamountstotheworksheet P1 Next entertheadjustments FastForwardWorkSheetForMonthEndedDecember31 2007 P1 Prepareadjustedtrialbalance FastForwardWorkSheetForMonthEndedDecember31 2007 P1 FastForwardWorkSheetForMonthEndedDecember31 2007 Sortadjustedtrialbalanceamountstofinancialstatements P1 FastForwardWorkSheetForMonthEndedDecember31 2007 Totalstatementcolumns computeincomeorloss andbalancecolumns P1 PreparetheIncomeStatement PreparetheFinancialStatements Aworksheetdoesnotsubstituteforfinancialstatements P1 PreparetheStatementofOwner sEquity P1 PreparetheBalanceSheet Resetsrevenue expenseandwithdrawalaccountbalancestozeroattheendoftheperiod Helpssummarizeaperiod srevenuesandexpensesintheIncomeSummaryaccount ClosingProcess C1 Theclosingprocessappliesonlytotemporaryaccounts TemporaryandPermanentAccounts C1 RecordingClosingEntries CloseRevenueaccountstoIncomeSummary CloseExpenseaccountstoIncomeSummary CloseIncomeSummaryaccounttoOwner sCapital CloseWithdrawalstoOwner sCapital P2 Balancesbeforeclosing ClosingProcess P2 CloseRevenueaccountstoIncomeSummary ClosingProcess P2 CloseExpenseaccountstoIncomeSummary ClosingProcess ThebalanceinIncomeSummaryequalsnetincome P2 CloseIncomeSummarytoOwner sCapital ClosingProcess P2 ClosingProcess CloseWithdrawalsaccounttoOwner sCapital P2 Usingtheadjustedtrialbalance let spreparetheclosingentriesforFastForward P2 CloseRevenueaccountstoIncomeSummary P2 CloseRevenueAccountstoIncomeSummary Now let slookattheledgeraccountsafterpostingthisclosingentry P2 CloseRevenueAccountstoIncomeSummary P2 CloseExpenseaccountstoIncomeSummary P2 Now let slookattheledgeraccountsafterpostingthisclosingentry CloseExpenseAccountstoIncomeSummary P2 NetIncome CloseExpenseAccountstoIncomeSummary CloseExpenseAccountstoIncomeSummary P2 CloseIncomeSummarytoOwner sCapital P2 Now let slookattheledgeraccountsafterpostingthisclosingentry CloseIncomeSummarytoOwner sCapital P2 CloseIncomeSummarytoOwner sCapital P2 CloseWithdrawalstoOwner sCapital P2 Now let slookattheledgeraccountsafterpostingthisclosingentry CloseWithdrawalstoOwner sCapital P2 CloseWithdrawalstoOwner sCapital P2 Let slookatFastForward spost closingtrialbalance Post ClosingTrialBalance Listofpermanentaccountsandtheirbalancesafterpostingclosingentries Totaldebitsandcreditsmustbeequal P3 Post ClosingTrialBalance P3 Let sdiscussthecomponentsofaclassifiedbalancesheet C3 Currentitemsarethoseexpectedtocomedue bothcollectedandowed withinthelongerofoneyearorthecompany snormaloperatingcycle ClassifiedBalanceSheet C3 Currentassetsareexpectedtobesold collected orusedwithinoneyearorthecompany soperatingcycle C3 Long terminvestmentsareexpectedtobeheldformorethanoneyearortheoperatingcycle C3 Plantassetsaretangiblelong livedassetsusedtoproduceorsellproductsandservices C3 Intangibleassetsarelong termresourcesusedtoproduceorsellproductsandservicesandthatlackphysicalform C3 Currentliabilitiesareobligationsduewithinthelongerofoneyearorthecompany soperatingcycle C3 Long termliabilitiesareobligationsnotduewithinthelon