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The Accounting Cycle - Self-Directed Courseware Ref: CACY

Duration:
One day

Description:
Written for the beginner, this concise guide maps out the accounting cycle: balance sheets, income statements, ledger transactions, trial balances, and closing entries. Ideal for small or new businesses, this book explains single-entry and double-entry accounting and cash versus accrual accounting.

Table Of Contents:
Introduction

Part 1: Overview of the Accounting Cycle
The Accounting Cycle
Steps in the Accounting Cycle
Temporary and Permanent Accounts

Part 2: Cash or Accrual Accounting?
Cash or Accrual Accounting?

Part 3: Basic Recordkeeping Systems
Setting Up the Books
The Chart of Accounts
Key Word Recognition
Single-Entry Recordkeeping
Double-Entry Recordkeeping
A Few Recordkeeping Techniques

Part 4: Ledger and Journal
The Ledger
The Trial Balance
The Journal

Part 5: Adjusting Entries
General Rules for Adjusting Entries
Adjusting Entries
Adjusting Current Assets
Adjusting Current Liabilities
Adjusting Accrued Expense
Adjusting Accrued Revenue

Part 6: Closing Entries
Closing Entries--An Overview
Temporary and Permanent Accounts
The Four Basic Entries to Closing Accounts
The Post-Closing Trial Balance

Part 7: The Balance Sheet and Income Statement
Preparation of the Financial Statements
The Balance Sheet and Income Statements
The Balance Sheet
The Income Statement
Sample Income Statement and Balance Sheet

Part 8: Special Consideration: Inventory
The Basic Difference of a Merchandise Company
Decisions About Inventory
Comparison of Inventory Flow Methods

Part 9: Business Decisions
Introduction

Appendix
Solutions to the Self-Tests 

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