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1、CHAPTER 4,COMPLETION OF THE ACCOUNTING CYCLE 完成会计循环,Study Objectives,Prepare a work sheet. Explain the process of closing the books. Describe the content and purpose of a post-closing trial balance. State the required steps in the accounting cycle Explain the approaches to preparing correcting entri
2、es. Identify the sections of a classified balance sheet,The Accounting Cycle,The accounting cycle is the process by which accountants prepare financial statements for an entity for a specific period of time.,The Accounting Cycle,For a new business, begin by setting up ledger accounts. For an establi
3、shed business, begin with account balances carried over from the previous period.,Analyzing transaction,Journalizing,Posting,Trial Balance,Adjusting,Adjusted Trial Balance,Financial Statements,Journalizing Posting Closing entry,Post-closing Trial Balance,How to make accounting cycle work Easier?,Usi
4、ng Worksheet,WORK SHEET 工作底稿,A work sheet is a multiple-column form that may be used in the adjustment process and in preparing financial statements.,Work sheet,WORK SHEET 工作底稿,It is a working tool or a supplementary device for the accountant and not a permanent accounting record. Use of a work shee
5、t should make the preparation of adjusting entries and financial statements easier.,WORK SHEET,The use of a work sheet is optional. When a work sheet is used, financial statements are prepared from the worksheet. Adjustments are journalized and posted from the work sheet after financial statements a
6、re prepared.,FORM AND PROCEDURE FOR A WORK SHEET,STEPS IN PREPARING A WORKSHEET,Prepare a trial balance on the worksheet Enter the adjustments in the adjustments columns Enter adjusted balances in the adjusted trial balance columns,STEPS IN PREPARING A WORKSHEET,Extend adjusted trial balance amounts
7、 to appropriate financial statement columns Total the statement columns, compute net income (loss), and complete the worksheet.,1 PREPARING A TRIAL BALANCE,15,200 2,500 600 5,000 5,000 2,500 1,200 10,000 500 10,000,4,000 900 28,700 28,700,2 ENTER THE ADJUSTMENTS,a 1,500 b 50 d 400 d 400 e 200 g 1,200
