ch042010财务会计英文版。原书第五版~答案.ppt

CHAPTER 4  COMPLETION OF THE ACCOUNTING CYCLE 完成会计循环 Study Objectives Prepare a work sheet. Explain the process of closing the books. Describe the content and purpose of a post-closing trial balance. State the required steps in the accounting cycle Explain the approaches to preparing correcting entries. Identify the sections of a classified balance sheet The Accounting Cycle The accounting cycle is the process by which accountants prepare financial statements for an entity for a specific period of time. The Accounting Cycle For a new business, begin by setting up ledger accounts. For an established business, begin with account balances carried over from the previous period. WORK SHEET 工作底稿 A work sheet is a multiple-column form that may be used in the adjustment process and in preparing financial statements. WORK SHEET 工作底稿 It is a working tool or a supplementary device for the accountant and not a permanent accounting record. Use of a work sheet should make the preparation of adjusting entries and financial statements easier. WORK SHEET The use of a work sheet is optional. When a work sheet is used, financial statements are prepared from the worksheet. Adjustments are journalized and posted from the work sheet after financial statements are prepared. STEPS IN PREPARING A WORKSHEET Prepare a trial balance on the worksheet Enter the adjustments in the adjustments columns Enter adjusted balances in the adjusted trial balance columns STEPS IN PREPARING A WORKSHEET Extend adjusted trial balance amounts to appropriate financial statement columns Total the statement columns, compute net income (loss), and complete the worksheet. 1 PREPARING A TRIAL BALANCE 15,200