Professional Documents
Culture Documents
Information Systems
1
Main Objective of Accounting
2
Accounting Information System Terminology
3
Manual & Electronic Accounting Info Systems
5
Accrual Accounting Causes Accruals & Deferrals
6
Refresher Videos
7
Sample Chart of Accounts
All Accounting
Systems have a
Chart of Accounts.
Debits & Credits
The Accounting Equation
10
The T-Account
Consider downloading
the T-Account
Templates document in
Course Resources
11
T Account Demo
12
T Account Demo, con’t
13
Accounting Cycle
14
Step 1: Analyze Transactions Using Source Documents
15
Step 2: Journalize Transaction
From Source
Document
To
General Journal
16
Correct Format of Journal Entries
17
Refresher Video
18
Step 3: Post Journal Entry to Ledger
19
Refresher Video
20
Step 4: Prepare an Unadjusted Trial Balance
21
Prepare an Adjusted Trial Balance
Total Debits
Total
Credits
22
Refresher Videos
23
25
Refresher Videos
26
Refresher Videos
28
Sequence of Preparing Financial Statements
Income Statement
Balance Sheet
30
Prepare Financial Statements: Balance Sheet
31
32
Step 9: Prepare Closing Entries
33
More on the Closing Process
34
4 Steps to Close the Books
35
36
Refresher Videos
37
Step 11: Prepare Post-Closing Trial Balance
Permanent
Temporary
(aka Real)
Reversing Entry Example
40
Reversing Entries: Another Example
41
Refresher Videos
42
Critical Thinking Exercise
Question:
In a manual accounting system, why does preparing
the financial statements occur before closing entries
are journalized and posted?
Important Note
44
• Complete and submit all assignments by the due date stated
in the syllabus Course Schedule.
• After completing the activities in this presentation, please ask
questions in class if you need further clarification.
– Failure to ask for help typically results in poor grades
– Be proactive about posting as many questions as needed to fully
understand the course content.