tailieunhanh - Lecture Intermediate accounting (15th edition): Chapter 3 - Kieso, Weygandt, Warfield

Chapter 3 - The accounting information system. After studying this chapter, you should be able to: Understand basic accounting terminology; explain double-entry rules; identify steps in the accounting cycle; record transactions in journals, post to ledger accounts, and prepare a trial balance. | Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting Intermediate Accounting Prepared by Coby Harmon University of California, Santa Barbara Westmont College INTERMEDIATE ACCOUNTING F I F T E E N T H E D I T I O N Prepared by Coby Harmon University of California Santa Barbara Westmont College kieso weygandt warfield team for success PREVIEW OF CHAPTER Intermediate Accounting 15th Edition Kieso Weygandt Warfield 3 Understand basic accounting terminology. Explain double-entry rules. Identify steps in the accounting cycle. Record transactions in journals, post to ledger accounts, and prepare a trial balance. Explain the reasons for preparing adjusting entries and identify major types of adjusting entries. Prepare financial statements from the adjusted trial balance. Prepare closing entries. Prepare financial statements for a merchandising company. After studying this chapter, you should be able to: The Accounting Information System 3 LEARNING OBJECTIVES Accounting information system Collects and processes transaction data. Disseminates the financial information to interested parties. Accounting Information System LO 1 Understand basic accounting terminology. Helps management answer such questions as: How much and what kind of debt is outstanding? Were sales higher this period than last? What assets do we have? What were our cash inflows and outflows? Did we make a profit last period? Are any of our product lines or divisions operating at a loss? Can we safely increase our dividends to stockholders? Is our rate of return on net assets increasing? Accounting Information System LO 1 Understand basic accounting terminology. LO 1 Understand basic accounting terminology. Journal Posting Trial Balance Adjusting Entries Financial Statements Closing Entries Basic Terminology Event Transaction Account Real Account Nominal Account Ledger Accounting Information System Understand basic accounting terminology. Explain double-entry rules. Identify | Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting Intermediate Accounting Prepared by Coby Harmon University of California, Santa Barbara Westmont College INTERMEDIATE ACCOUNTING F I F T E E N T H E D I T I O N Prepared by Coby Harmon University of California Santa Barbara Westmont College kieso weygandt warfield team for success PREVIEW OF CHAPTER Intermediate Accounting 15th Edition Kieso Weygandt Warfield 3 Understand basic accounting terminology. Explain double-entry rules. Identify steps in the accounting cycle. Record transactions in journals, post to ledger accounts, and prepare a trial balance. Explain the reasons for preparing adjusting entries and identify major types of adjusting entries. Prepare financial statements from the adjusted trial balance. Prepare closing entries. Prepare financial statements for a merchandising company. After studying this chapter, you should be able to: The Accounting Information System 3 LEARNING OBJECTIVES