PPT-201Lec05.pptx 1 Accrual Accounting Concepts

5 Merchandising amp MultiStep Income Statement Service Businesses Make money by providing a service Services cant be created and stockpiled for later sale no MERCHANDISE INVENTORY. ACCRUAL ACCOUNTING. WELCOME!!!. Valerie Monahan. Heidi Barclay. ACCRUAL ACCOUNTING. Accounting Methods. All organizations must choose an accounting method for financial reporting purposes. Accounting Methods. Chapter 3. Learning Objectives. After studying this chapter, you should be able to:. Describe basic accrual accounting concepts, including the matching concept. Use accrual concepts of accounting to analyze, record, and summarize transactions. Quicken Tags. Wm. Bruce Clevenger. OSU Extension . Educator and Assistant Professor. . Agriculture and Natural Resources. Is Farming Accrual?. Did all activity about the 2012 crop occur in 2012?. Objectives. Revised: 4 - 1 CHAPTER 4.ACCRUAL ACCOUNTING Section 1.0 General This chapter sets forth basic principles, requirements, and techniques for Commerce accounting on an accrual basis, whereby financial t CHAPTER . 4. ADJUSTING ENTRIES. LINKAGE. ENHANCE YOUR PREVIOUS KNOWLEDGE REGARDING FINANCIAL STATEMENTS. YOU WILL BE ABLE TO MAKE ADJUSTING ENTRIES AT THE END OF ACCOUNTING PERIOD. 2. of 43. OUTCOME of THIS SESSION. The accounting process. Key Terms. The Matching Principle. Cash Accounting. Accrual Accounting. Balance day adjustments. Accounting Period and Profit Determination. For accounting purposes, the accounting period assumption assumes that the life of a business is divided into arbitrary time periods. Local Government Corporation. Revenues from Nonexchange Transactions. Certified Continuing Professional Education Class. 1-hour credit. Must remain for the entirety of the class to receive CPE credit. -A.K.GANESHAN. Retd.Sr.AFA/SF. Accounting. The Following are the main bases of accounting. Cash basis. Accrual basis. Mixed basis i.e., partly cash basis and partly accrual basis. What is Cash Accounting System. LECTURER: TROY J. WISHART . . Summer Course. ACT 1100. Is EASY POP!. Our Confession. Course Outline . ACT 1100 Introduction to Accounting. COURSE DESCRIPTION AND AIMS:. The aim of this course is to expose students to the mechanics of financial accounting. In addition students would be introduced to the history and development of accounting, accounting concepts, principles and practices.. Workshop Accounts. Introduction:. Production units and workshops established in Indian Railways are meant for Building. (Creating the asset). , Repair & Maintenance of various kinds of Rolling Stock (i.e. Locos, Carriages, Wagons and other departmental vehicles) (. Campus Services. Overview:. Accounting standards. GAAP Principle. Accounting Methods. What is accrual Accounting?. Why does this matter?. Accruals entries. Examples. Accounting Standards. Accounting standards are rules and guidelines set by governing bodies like:. Environmental Management Consolidated Business Center (EMCBC) April 9, 2019 cost accrual BASICS What are Costs? What is an accrual ? Automated (Default) STARS’s Accrual vs FAST Accrual Adjustment Tuesday, July 11, 11:00 AM. Presented . by: . Teri Jones & Chi Zhang. Agenda. Accounting Journals. . (. Reference Files, Accounting Journals). Cash . Budget . (Task 1 & 2). Making . Projections . Dr. Sarina Preechalert , CFP. Outline. 1. Economics concepts and Theories. Microeconomics. Macroeconomics. 2. Accounting concepts and Theories. Financial information. Financial analysis. 3. Financial concept and Theories.