Part I Fill-In-The-Blanks(10\2=20 points) 1.A is a collection of all accounts used by a business 2. All cash payments by check are recorded in thejournal 3. Revenue and expense accounts are called because they are opene

University Lesson Notes Lesson 13 Managerial Accounting: Concepts and Principles Learning objectives 1. Describe the definition of managerial accounting. 2. Identify and explain the difference between managerial accounting and financial accounting. 3. Analyze different ways to classify costs 4. Describe the flow of manufacturing activities

Lesson Notes Lesson 14 Managerial Accounting: Applications Learning objectives 1. Describe segmented reporting and responsibility accounting system 2. Explain the main aspects of Cost-volume-profit analysis 3. Analyze budgeting and budgetary control

Lesson Notes Lesson 4 Adjusting Accounts for Financial Statement Learning objectives 1. Describe the purpose of adjusting accounts at the end of the period 2. Prepare and explain adjusting entries for prepaid expenses, amortization, unearned revenues, accrued expenses, and accrued revenues

Lesson Notes Lesson 6Accounting for Merchandising Activities Learning Objectives 1. Describe merchandising activities and identify business types. 2. Identify and explain the important components of income for a merchandising company

Learning objectives 1. Describe the principles of properly designed accounting systems. 2. Describe and illustrate the principles of internal control of accounting information systems. 3. Describe and illustrate the use oft special journals and subsidiary ledgers to process accounting data more efficiently

Outline The nature of firm; The value of accounting; The Evolution of accounting; Accounting: bird view Task Team of FUNDAMENTALACCOUNTING, Business School, Yat-sen University

Outline Accounts Detailed Description of Various Accounts T- Accounts Rules of Debits and Credits Double-entry- Accounting Illustrated Application of Rules

Outline Describe the preparation of adjusted trial balance Describe and prepare a worksheet and describe its usefulness. Describe the closing process and explain why temporary accounts are closed each period. Prepare closing entries

Outline Segmented Reporting and Responsibility Accounting System Cost- Volume-Profit- Analysis Budgeting and Budgetary Control Standard Costs and Variance Analysis Managerial Decision Making