财务会计课件 from Professor CarterChapter03.docx
- 文档编号:16255598
- 上传时间:2023-07-12
- 格式:DOCX
- 页数:61
- 大小:40.84KB
财务会计课件 from Professor CarterChapter03.docx
《财务会计课件 from Professor CarterChapter03.docx》由会员分享,可在线阅读,更多相关《财务会计课件 from Professor CarterChapter03.docx(61页珍藏版)》请在冰点文库上搜索。
财务会计课件fromProfessorCarterChapter03
Chapter3
JournalEntries,Posting,GeneralLedger,andTrialBalance
Inthischapteryouwillseehowaccountingsystemsareorganizedtoprocesslargevolumesofdatawhileconstantlymaintainingtheequalityoftheaccountingequation.Asyouproceedthroughthischapter,firstconcentrateonlearninghowbusinesseventsaffectresourcesandthenlearnhowtoprocesstheeventsinthefinancialaccountingsystem.
TheAccountingEquation,
Debits,andCredits
Resourcesandwheretheycomefromareattheheartofmodernfinancialaccountingsystems.Therelationshipbetweenresourcesandtheirsourcesisrepresentedbytheaccountingequation:
Assets
=
Liabilities
+
Stockholders'Equity
Theaccountingequationshowsacompany'sresources(assets)comefromborrowing(liabilities),fromowners'investments(stockholders'equity),oraregeneratedbymanagementandretainedinthecompany(stockholders'equity).Theaccountingequationmustalwaysbeinbalanceinorderfortheaccountingsystemtoprovideusefulinformation.
Thedouble-entrysystem(debits=credits)wasdevelopedtoeasilymaintaintheequalityoftheaccountingequation(assets=liabilities+stockholders'equity).Thedouble-entrysystemisbasedontheideathateachbusinesseventhastwoparts.Onepartresultsinachangeinoneasset,liability,orstockholders'equityaccountandtheotherpartresultsinanequalchangeinanotherasset,liability,orstockholders'equityaccount.Itisimpossibleforaneventtoresultinanincreaseordecreaseinonlyoneaccount.
Thebasicelementofthedouble-entrysystemistheTaccount.Taccountsareusedtorecordthetwopartsofeachbusinessevent.TheleftsideofaTaccountisthedebitsideandtherightsideisthecreditside.Theprocessofconvertingeacheventintoequaldollaramountsofdebitsandcreditsguaranteesthattheaccountingequationalwaysbalances.
Thedebitsequalcreditsprocessconvertseacheventintodebitsandcreditsasfollows:
Account
Debits
Credits
Assets
Increases
Decreases
Liabilities
Decreases
Increases
Stockholders'equity
Decreases
Increases
Revenues
Decreases
Increases
Expenses
Increases
Decreases
Dividends
Increases
Decreases
Inaccountingformostbusinessevents,allyouneedtorememberaboutdebitsandcreditsarethefollowing:
Point1.Assetsincreasewithdebits
Point2.Debits=credits
Thetwoabovepoints,whencombinedwithanunderstandingofbusinessandalittlebasiclogic,willenableyoutoconvertmostbusinesseventsintodebitsandcreditsand,insodoing,constantlymaintaintheequalityoftheaccountingequation.
DifficultiesCreatedby
Today'sCompanies
AT&T,likethousandsofothercompanies,conductsbusinessonaglobalscale.Infact,AT&Tprovidesservicesinover220differentcountries.Considerthedifficultiestheyfaceintryingtoaccountforsuchwide-spreadoperations.HowfeasiblewoulditbeforthemtousetheaccountingsystemweexaminedinChapter2?
CouldAT&TpossiblyaccountforitsactivitiesbyusingonesetofTaccounts?
HowmanyhundredTaccountswouldberequired?
CouldtheTaccountsbedrawnononesheetofpaper?
HowlongwouldittakejusttoputtheeffectsofAT&T'sthousandsofeventsintothemanyTaccounts?
Surelytheremustbeamoreefficientwaytoaccountfortheeventsofsuchlargecompanies.
FinancialaccountingsystemsusedbycompanieslikeAT&Tarebasedontheaccountingequation.Theymakeuseofthedebitsequalcreditsprocesstomaintaintheequalityoftheaccountingequation.However,theydonotenterdollaramountsdirectlyintoTaccountsaswedidinChapter2.InsteadofenteringdollaramountsdirectlyintoTaccounts,modernaccountingsystemsrecordthedebitsandcreditsbypreparingjournalentriesinjournals.Inthisway,journalsarepreparedatnumerouslocationsallaroundtheworld.Theinformationisthensenttoonelocationwhereitisorganizedandthefinancialstatementsarepreparedfromtheorganizedinformation.
ModernAccountingSystems
Inordertogeneratetheinformationforfinancialstatements,accountingsystemsneed:
1)toorganizethedatatobereported.Financialaccountingsystemsuseachartofaccountsandageneralledgertoorganizedata.
2)aprocessforgettingdataintotheorganizeddatasystem.Financialaccountingsystemsusejournalstogetdataintoaccounts.
3)aprocessforverifyingthatthedataintheaccountswillresultinabalancedaccountingequation.Financialaccountingsystemspreparetrialbalancestoverifytheequalityofthedebitsandcreditsdatainaccounts.
Thefollowingsectionsexamineeachofthethreeaboverequirementsofmodernaccountingsystems.
OrganizingAccountingData
Topreparefinancialstatements,youmustknowthetypesofinformationyouwanttoreportinthestatements.Forexample,ifyouwanttogenerateacashreport,youwouldaccumulatedataaboutcash.Infinancialaccountingsystems,becauseoftheimportanceofresourcesandtheirsources,thedatatobecollectedareorganizedaroundtheaccountingequation,assets=liabilities+stockholders'equity.Thedataareorganizedintoaccounts.Accountsareestablishedforanyinformationtobereportedinthefinancialstatements.YoumayrememberthattheParksComputerServiceCorporationexaminedinChapters1and2hadthefollowingaccounts:
cash,accountsreceivable,supplies,accountspayable,commonstock,andretainedearnings.Anaccountisadatastoragedevice.Forexample,anaccountcanbeassimpleasaTaccountonapage,itcouldbeawholepageinabook,itcouldbeafilefolderinadeskdrawer,oritcouldbeadatafileinacomputer.
ChartofAccountsWhenalistofallaccountsinwhichacompanycanstoreaccountingdataisprepared,itiscalledachartofaccounts.ThechartofaccountsfortheParksComputerServiceCorporationispresentedinExhibit3-1.
Exhibit3-1
ParksComputerServiceCorporation
ChartofAccounts
Acct.No.
AccountName
Assets
111
Cash
113
AccountsReceivable
115
Supplies
Liabilities
211
AccountsPayable
Stockholders'Equity
311
CommonStock
313
RetainedEarnings
315
Dividends
Revenues
411
FeesRevenue
Expenses
511
SuppliesExpense
NoticehowtheaccountsintheParksComputerServiceCorporation'schartofaccountsareorganized.First,theaccountsareseparatedintofivecategories:
assets,liabilities,stockholders'equity,revenues,andexpenses.Donotworryifyouareunclearaboutrevenuesandexpenses.Youwillbecomequitefamiliarwiththesetermsasyouprogressthroughthisandlaterchapters.Atthispoint,youshouldnotethatthecategoriesinthechartofaccountsrelatedirectlytothefinancialstatements:
revenuesandexpensesarereportedontheincomestatement,whileassets,liabilities,andstockholders'equityarereportedonthebalancesheet.
Acompanycanhaveanyaccountsitwantsinitschartofaccounts.Informationcanbegatheredforanyitemsinwhichthecompanyisinterested.RemembertheprocesswefollowedinChapters1and2forgatheringinformationfortheincomestatement?
Inordertocalculatetotalrevenuestoreportontheincomestatementwehadtoanalyzetheretainedearningsaccountforincreases.Similarly,wehadtoanalyzeretainedearningsfordecreasesinordertocalculateexpenses.Companieshavefounditeasierandfastertoprepareincomestatementswhenseparateaccountsaremaintainedtorecordrevenuesandexpenses,ratherthanenterthedollaramountsdirectlyintoretainedearnings.Ifseparateaccountsareusedtorecordrevenuesandexpenses,incomestatementscanbequicklypreparedbysimplyusingthedollaramountsrecordedintherevenuesandexpensesaccounts.
Asecondpointtonoticeaboutthechartofaccountsishowtheaccountsareorganizedwithineachcategory.Forexample,notethatthethreeassetaccountsarenotlistedalphabetically.Infact,theassetsarelistedbyorderofliquidity.Liquidityreferstohowquicklytheassetswillbeconvertedintocashorusedupinthebusiness.Basedonassetliquidity,cashwouldappearfirst,followedbyaccountsreceivable(whichshouldbeconvertedintocashsoon,possiblyinthenext30days),andsupplies(whichwillbeusedupinashorttime,suchasthreemonths).Asyouprogressthroughlaterchapters,youwilllearnthereasonsforotheraccountsappearinginchartsofaccountsintheorderinwhichtheydo.Atthispointintime,however,itisimportantthatyourecognizethatinformationtobereportedinthefinancialstatementsisthereasonaccountsarelistedinthechartofaccountsintheorderinwhichtheyare.
Thethirdpointtonoticeaboutthechartofaccountsisthateachaccounthasanumberassociatedwithit.Asyoumayexpect,thesenumbersarecalledaccountnumbers.Accountnumbersareusefulinidentifyingwhereaspecificaccountwouldbeinagroupingofotheraccounts.Forexample,noticeintheParksComputerServiceCorporation'schartofaccountsallassetsbeginwiththedigit1whileliabilitiesbeginwiththedigit2.Inmanualaccountingsystems,accountnumbersmakeiteasytofindaspecificaccountwhenallaccountsaregroupedtogetherinonebookcalledthegeneralledger,whichisdiscussedinthefollowingsection.Withmodern,computer-basedaccountingsystems,accountnumbersfacilitatetheentryofdataintothecomputersystem.Forexample,todebittheaccountsreceivableaccountusingacomputer,itwouldbenecessaryonlytoinputtheaccountnumber113ratherthaninputtingtheaccountname,accountsreceivable.Suchuseofaccountnumbersratherthanaccountnamesallowsmuchfasterdatainputintoaccou
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 财务会计课件 from Professor Carter Chapter03 财务会计 课件