会计学第四章讲述.ppt

Chapter 4 Completing the Accounting Cycle Outline of Chapter 4 Conceptual Chapter Objectives C1: Explain why temporary accounts are closed each period. C2: Identify steps in the accounting cycle. C3: Explain and prepare a classified balance sheet. Procedural Chapter Objectives P1: Prepare a work sheet and explain its usefulness. 工作表格 P2: Describe and prepare closing entries. 结账分录 P3: Explain and prepare a post-closing trial balance. 结帐后试算平衡 Work Sheet as a Tool Working Papers 工作底稿 internal documents used when preparing financial statements Work Sheet 工作底表/试算表 One type of widely used working paper Usually not available to external users Not a required report, but have several potential benefits Benefits of a Work Sheet Aids the preparation of financial statements Reduces the possibility of errors Links accounts and adjustments to their impacts in financial statements Assists in planning and organizing an audit of financial statements Helps in preparing interim FSs when the journalizing and posting of adjusting entries are postponed until year-end Shows the effects of proposed or “what-if” transactions Use of a Work Sheet When used to prepare FSs, Work Sheet is constructed at the end of a period before the adjusting process. Complete Structure for Work Sheet – the Accounts Balances and Adjustments (Dr. Cr.) Sorting into Financial Statements (Dr. Cr.) 5 Steps Preparing Work Sheet Step 1. Enter Unadjusted Trial Balance List the title of every account and its account number Accounts in the ledger New accounts from adjusting entries Enter unadjusted balance for each account in appropriate Debit or Credit column The totals of two columns must be equal. Note: Blank lines left, or combine, or add new lines following the Totals line. 5 Steps Preparing Work Sheet Step 2. Enter Adjustments in the Adjustments Columns Keying the adjustments –“加关键词” Letters identified link the debit and credit of each adjusting entry After preparing work sheet, adjusting ent