Outline Fundamental Principles of Accounting Information system diagram of the accounting process Accounting System Components General Journal Transactions Computerized Accounting Information System

Outline Merchandising activities Operating cycle of merchandising companies Merchandising cost accounts Inventory systems Merchandise purchases Sales transactions Adjusting and closing entries

Outline Describe the purpose of adjusting accounts at the end of the period. Prepare and explain adjusting entries for prepaid expenses, amortization, unearned revenues, accrued expenses, and accrued revenues. Explain how accounting adjustments link to financial statements

Outline Enterprises Accounting Transactions, Accounting Events, and Accounting Circumstances Economic Activities and Accounting Elements Accounting Equation

Lesson 5 Completing the Accounting Cycle Learning objectives 1. Describe and prepare a worksheet and describe its usefulness. 2. Describe the closing process and explain why temporary accounts are closed each period

Lesson notes Lesson 3: Analyzing and Recording Accounting Transactions Learning objectives 1. Provide the students with a background of the accounting process to better understand the numbers on the financial statements 2. Define the economic transactions and events that are included into our accounting considerations

Lesson 12: Internal Controls and Business Ethics Learning objectives 1.Explain the fundamental principles of internal control 2. Define, explain the purpose, and identify the principles of internal accounting control. 3. Apply internal control to cash. 4.Explain and record petty cash fund transactions

School of Business, Sun Yat-sen University Lesson notes Lesson 10 Understanding and Using Financial Statements Learning objectives 1. Describe the need and supply for financial statement analysis. 2. Learn basic financial statement analytical procedures

ask Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University L 3 Analyzing and recording Accounting transactions Self-Test Multiple choices 1. The term credit means. A. to increase

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 4 Adjusting Accounts for Financial Statement Self-Test Answer the following questions 1. what is an accrued revenue? Give an example 2. what is the difference between the cash basis and accrual basis of