tailieunhanh - Lecture Accounting: Tools for business decision making (5th edition): Chapter 4 - Kimmel, Weygandt, Kieso

Chapter 4 - Accrual accounting concepts. After studying this chapter, you should be able to: Explain the accrual basis of accounting and the reasons for adjustments, prepare adjustments for deferrals, prepare adjustments for accruals, prepare financial statements from adjusted amounts. | ACCRUAL ACCOUNTING CONCEPTS Accounting, Fifth Edition 4 After studying this chapter, you should be able to: Explain the revenue recognition principle and the expense recognition principle. Differentiate between the cash basis and the accrual basis of accounting. Explain why adjusting entries are needed, and identify the major types of adjusting entries. Prepare adjusting entries for deferrals. Prepare adjusting entries for accruals. Describe the nature and purpose of the adjusted trial balance. Explain the purpose of closing entries. Describe the required steps in the accounting cycle. Understand the causes of differences between net income and cash provided by operating activities. Learning Objectives Preview of Chapter 4 Accounting Fifth Edition Kimmel Weygandt Kieso Generally a month, a quarter, or a year. Fiscal year vs. calendar year Accountants divide the economic life of a business into artificial time periods (Periodicity Assumption). LO 1 Explain the revenue recognition principle and the expense recognition principle. Jan. Feb. Mar. Apr. Dec. . . . . . Timing Issues What is the periodicity assumption? a. Companies should recognize revenue in the accounting period in which it is earned. b. Companies should match expenses with revenues. c. The economic life of a business can be divided into artificial time periods. d. The fiscal year should correspond with the calendar year. Review Question Timing Issues LO 1 Explain the revenue recognition principle and the expense recognition principle. Timing Issues The Revenue Recognition Principle Companies recognize revenue in the accounting period in which the performance obligation is satisfied. LO 1 Explain the revenue recognition principle and the expense recognition principle. TEACHING TIP Service businesses recognize revenue when the services are performed, although many customers may have been billed for the services (on account). The cash has not been received; however, the services have been performed. . | ACCRUAL ACCOUNTING CONCEPTS Accounting, Fifth Edition 4 After studying this chapter, you should be able to: Explain the revenue recognition principle and the expense recognition principle. Differentiate between the cash basis and the accrual basis of accounting. Explain why adjusting entries are needed, and identify the major types of adjusting entries. Prepare adjusting entries for deferrals. Prepare adjusting entries for accruals. Describe the nature and purpose of the adjusted trial balance. Explain the purpose of closing entries. Describe the required steps in the accounting cycle. Understand the causes of differences between net income and cash provided by operating activities. Learning Objectives Preview of Chapter 4 Accounting Fifth Edition Kimmel Weygandt Kieso Generally a month, a quarter, or a year. Fiscal year vs. calendar year Accountants divide the economic life of a business into artificial time periods (Periodicity Assumption). LO 1 Explain the revenue recognition .

• Kế toán - Kiểm toán
• Accrual accounting
• Revenue recognition
• Financial Statements
• Making business decision
• Business decision tool
• Lecture Accounting
• Intermediate accounting
• Lecture Intermediate accounting
• Financial Accounting
• Financial accounting environment
• Cash versus accrual accounting
• The role analysis of accrual management
• Loss loan provision factor
• Fair value accounting to earnings volatility
• The Stock Exchange of Indonesia Website
• Indonesia Capital Market
• The accrual management role
• Lecture Introduction to financial accounting
• Accounting method
• Cash basis method
• Accrual method
• Lecture Financial accounting
• Business decision
• Kế toán tài chính
• Malaysian public agency
• Asset accounting system
• Government Transformation Program
• International Public Sector Accounting Standards
• Theoretical structure
• International standard setting
• Double entry
• Accounting cycle
• Accounting entity
• Accounting principles
• Accrual Basis of Accounting
• Financial reporting
• Financial information
• Financial statement analysis
• Income determination
• Revenue recognition recap
• The prediction of future operating cash flows
• Accrual based and cash based accounting information
• Empirical evidence from Vietnam
• Forecasting cash flows
• Address econometric issues
• Ho Chi Minh Stock Exchange
• Fixed Effects Model
• Accounting for business
• Lecture Accounting for business
• Financial accounting reports
• Statement of financial performance
• Accrual accounting systems
• Statement of financial position
• Mastering financial accounting essentials
• Financial accounting essentials
• Income statement
• Accounting conventions
• Adjusting the accounts
• Accounting period
• Adjusting entries
• Lecture International accounting
• International accounting
• The adjusting process
• Accrual accounting versus cash basis
• Other accounting principles
• Two categories of adjusting entries
• The adjusted trial balance
• Managerial accounting
• The financial statements
• The accounting information system
• Internal control
• Operating assets
• Survey of accounting
• Basic accounting concepts
• Accrual accounting concepts
• Accounting for merchandising businesses
• Intangible assets
• Receivables and inventories
• Learning Financial accounting
• Analyzing Inventory
• Statement of Cash Flows
• The annual report
• Processing accounting information
• Income measurement
• Receivables and investments
• A cash flow basis
• An accrual accounting basis
• Asset value measurement
• An economist’s approach
• Accounting for inflation
• Financial statements statements
• A further look at financial statements