This note is for business students, especially those who want to learn Accounting quickly. It can also help other students who have accounting subjects. This note includes several contents.
1. Double-entry accounting
2. Business transactions and accounting
3. Ledger and chart of accounts
4. J...
CONCEPTUAL
C1 Explain the steps in processing transactions and the role of source documents.
C2 Describe an account and its use in recording transactions.
C3 Describe a ledger and a chart of accounts.
C4 Define debits and credits and explain double-entry accounting.
ANALYTICAL
A1 Analyze the impact of transactions on accounts and financial statements.
A2 Compute the debt ratio and describe its use in analyzing financial condition.
PROCEDURAL
P1 Record transactions in a journal and post entries to a ledger.
P2 Prepare and explain the use of a trial balance.
P3 Prepare financial statements from business transactions.
, Basics of Financial Statements
Business transactions and events are the starting points of
financial statements. Process from transactions to financial
statements is as follows:
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