Summary Ch 4 Completing the Accounting Cycle - Financial Accounting with International Financial Reporting Standards - FAC2
7 views 0 purchase
Course
FAC2
Institution
Hanzehogeschool Groningen (Hanze)
Book
Financial Accounting with International Financial Reporting Standards
Provides in-depth summary of chapter 4. topics include The Worksheet, Trail Balance, correcting entries, Classified Statement of Financial Position or balance sheet.
Accounting Categories (Debit and Credit Balances) - Financial Accounting (FAC)
All for this textbook (33)
Written for
Hanzehogeschool Groningen (Hanze)
International Business and Management Studies
FAC2
All documents for this subject (13)
Seller
Follow
amy5430
Reviews received
Content preview
Completing the Accounting
Cycle
Chapter Number Chapter 4
📖 Table of Contents
Outline
4.1 The Worksheet
Steps in Preparing a Worksheet
4.2 Closing the Books
Preparing Closing Entries
How to Close Revenue/Expense to Income Summary Account
Posting Closing Entries
Preparing a Post-Closing Trial Balance
4.3 The Accounting Cycle and Correcting Entries
4.4 Classified Statement of Financial Position
Intangible Assets / “Other Assets”
Property, Plant, and Equipment / “Fixed Assets”
Long-Term Investments
Current Assets
Equity
Non-Current Liabilities
Current Liabilities
Completing the Accounting Cycle 1
, 4.1 The Worksheet
Steps in Preparing a Worksheet
1. Prepare a Trial Balance on the Worksheet
2. Enter the Adjustments in the Adjustments Columns
3. Enter Adjusted Balances in the Adjusted Trial Balance Columns
5. Total the Statement Columns, Compute the Net Income (or Net Loss), and
Complete the Worksheet
Completing the Accounting Cycle 2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller amy5430. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.01. You're not tied to anything after your purchase.
