31
會計週期：
捕捉經濟事件
第 3 章
3-2
是錄製中使用的步驟序列，
定期對會計資訊進行分類和匯總。
從初始記錄開始，到一組財務報表結束。
‘
cycle' – 不斷重複步驟以保持最新的報告
會計週期
32
3-3
一般包括8個具體步驟
1.
將交易記錄記入日記帳
2.
將每個日記帳條目過帳到會計科目
3.
準備未調整的試算表
4.
製作期末調整分錄
（日記和過賬調整分錄）
5.
準備調整后的試算表
6.
編製財務報表
7.
將分錄記入日記並過帳結算分錄
8.
準備結算後試算表
會計週期
第 3 章
第 5 章
第 4 章
3-4
會計記錄的作用（閱讀第 92 頁）
企業的經理和員工經常將會計記錄中存儲的資訊用於以下用途：
1.
對個人控制的資產和/或交易建立問責制。
2.
跟蹤日常商務活動。
3.
獲取有關特定交易的詳細資訊。
4.
評估組織內各個部門的效率和績效。
5.
保存公司商務活動的書面證據。例如，稅法要求公司維護會計記錄，以支援納稅申報表中報告的金額。
會計記錄是指提供企業或組織財務交易和活動詳細記錄的檔或分錄。
會計記錄用於準備財務報表、完成所得稅申報表和創建其他報告。
33
3-5
會計記錄的作用（閱讀第 92 頁）
建立對資產和交易的問責制。
跟蹤日常商務活動。
獲取有關特定交易的詳細資訊。
評估公司內部的效率和績效。
保存公司商務活動的證據。
3-6
帳本
Cash
帳戶
支付
共用
資本
整個集團
帳戶一起保存在稱為分類賬的會計記錄中。
帳戶 （帳戶） 是
顯示特定資產、負債、權益、收入或費用專案的增加和減少的單個記錄。 May 也稱為「分類賬」。。
34
3-7
帳戶的使用
T-account 代表一個會計科目，是用於瞭解一個或多個交易的影響的工具。
（左側）（右側）借方 （DR） 貸方 （CR）
+/-
+/-
帳戶名稱
T-account 的左側始終稱為借方，右側始終稱為貸方。
在 T 帳戶的一側記錄增加，在另一側記錄減少。
一個帳戶具有
3 元素
3-8
A = L + E
資產
借方
for
增加
信用
for
減少
股票
借方
for
減少
信用
for
增加
負債
借方
for
減少
信用
for
增加
借方和貸方對賬戶的影響如下：
借方和貸方分錄
問題：哪一方（借方或貸方）的記錄增加或減少？
答： 這取決於該特定帳戶的性質（即。資產、負債、權益、收入或費用）。
35
3-9
A = L + E
借方
平衡
信用
平衡
=
在複式記賬系統中，每筆交易都由等額的借方和貸方記錄。
複式記帳法借方和貸方的相等性
複式記帳系統的兩條規則如下：
•
每筆交易至少影響兩個帳戶。
•
總借款必須等於總貸方（對於對帳戶的每個借方分錄，將對相應的帳戶進行貸方分錄）
3-10
讓我們記錄
選擇
交易
用於 JJ's Lawn
帳戶中的護理服務。
36
3-11
Transaction （交易 ） 分析 – 第 2 章，幻燈片 13
負債
負債
公平
資產
資產
=
+
分析交易的步驟
Each transaction must at least have 2 effects on the equation.
Decide what accounts** are affected by the transaction. Decide what elements they belong to (assets, liabilities, owners’ equity, revenue, expenses).
Determine if the transaction will increase or decrease the account.
Determine Debit/Credit.
The accounting equation MUST remain in balance after each
transaction
Total Debit = Total Credit
1 May: Jill Jones and her family invested $8,000 cash in JJ’s Lawn Care Service in exchange for 800 shares.
Will Cash increase
or decrease?
Will Share Capital increase or decrease?
Share Capital
1/5 8,000
Cash
1/5 8,000
Cash increases $8,000 with a debit.
Share Capital
increases $8,000
with a credit.
3-12
Total debits = Total credits
37
2 May: JJ’s purchased a riding lawn mower for $2,500 cash.
Will Cash increase
or decrease?
Will Tools &
Equipment increase
or decrease?
Tools & Equipment
2/5 2,500
Cash
1/5 8,000
2/5 2,500
Cash decreases $2,500 with a credit.
Tools & Equipment
increases $2,500
with a debit.
3-13
Total debits = Total credits
8 May: JJ’s purchased a $15,000 truck. JJ’s
paid $2,000 in cash and issued a note payable for the remaining $13,000.
Will Truck increase
or decrease?
Will Cash and
Notes Payable
increase or
decrease?
Truck
8/5 15,000
Cash
1/5 8,000
2/5 2,500
8/5 2,000
Notes Payable
8/5 13,000
Truck increases $15,000 with a debit.
Cash decreases $2,000 with a credit.
Notes Payable
increases $13,000
with a credit.
3-14
Total debits = Total credits
38
11 May: JJ’s purchased some repair parts for $300 on account (賒帳) .
Will Tools &
Equipment increase
or decrease?
Will Accounts
Payable increase or
decrease?
Tools & Equipment
increases $300 with
a debit.
Accounts Payable
increases $300 with
a credit.
Tools & Equipment
2/5 2,500
11/5
300
Accounts Payable
11/5
300 3-15
Total debits = Total credits
18 May: JJ’s sold half of the repair parts to ABC Lawns for $150, a price equal to JJ’s cost.
ABC Lawns agrees to pay JJ’s within 30 days.
Will Tools &
Equipment increase
or decrease?
Will Accounts
Receivable increase
or decrease?
Tools & Equipment
decreases $150 with
a credit.
Accounts Receivable
increases $150 with
a debit.
Tools & Equipment
2/5 2,500 18/5 150
11/5
300
Accounts Receivable
18/5
150
3-16
Total debits = Total credits
39
3-17
Generally consists of eight specific steps
1. Journalize (record) transactions 2. Post each journal entry to ledger accounts 3. Prepare an unadjusted trial balance
4.
Making end of period adjusting entries
(journalize and posting adjusting entries)
5.
Prepare adjusted trial balance
6.
Prepare financial statements
7.
Journalize and post closing entries
8.
Prepare after-closing trial balance
Accounting Cycle
Chapter 3
STEP 1: JOURNALIZE THE TRANSACTIONS
310
3-19
1. Journalizing (recording transactions)
is the process of entering transactions into the
journal
Journal entry - an analysis of the effects of a transaction on the account. This analysis identifies the accounts to be debited and credited ◦ Debit is always the left side! ◦ Credit is always the right side! keep track of and record transactions in a systematic manner
3-20
In an actual accounting system, transactions are initially recorded in the journal.
GENERAL JOURNAL
Date Account Titles and Explanation Debit Credit 2009
1
May Cash
8,000
Share Capital
8,000
Owners invest cash in the business.
The Journal
1.
Enter transaction date
2.
Always list debit accounts and amounts first and show credit accounts and amounts below the debits, indented slightly.
3.
Each journal entry be followed by a short description of the transaction.
4.
Skip a line after the description of the transaction before the start of next journal entry.
Steps:
311
STEP II: POSTING
JOURNAL ENTRY TO
LEDGER ACCOUNTS
3-22
2. Post each journal entry to ledger accounts (at the end of accounting period)
Posting simply means updating the
ledger accounts for the effects of
the transactions recorded in the journal.
Useful to calculate the account balances.
KEY POINT
In manual accounting systems, this can be a tedious and timeconsuming process, but in computer-based systems, it is done instantly and automatically. In addition, computerized posting greatly reduces the risk of errors.
312
3-23
GENERAL JOURNAL
Date
Account Titles and Explanation
Debit
Credit
2009
1
May Cash
8,000
Share Capital
8,000
Owners invest cash in the business.
General Ledger
Cash
Date Debit Credit Balance 2009
1
May
8,000
8,000
Posting Journal Entries to the Ledger Accounts
1
2
3
4 3-24
GENERAL JOURNAL
Date Account Titles and Explanation Debit Credit 2009
1
May Cash
8,000
Share Capital
8,000
Owners invest cash in the business.
General Ledger
Share Capital
Date Debit Credit Balance 2009
1
May
8,000
8,000
Posting Journal Entries to the Ledger Accounts
1
2
3
4
314
3-27
Normal Balance
The normal balance of an account is on the side where an increase in the account is recorded.
3-28
General Ledger
Cash
Date Debit Credit Balance 2009
1
May 8,000
8,000
2
2,500
5,500
T accounts are simplified versions of the ledger account that only show the debit and credit columns.
Ledger Accounts After Posting
315
3-29
Cash
5/1 8,000 5/2 2,500 5/25 75 5/8 2,000 5/29 750 5/28
150
5/31
50
5/31 4,125
Bal.
Receipts
are on the
debit side.
$8,825
Payments
are on the
credit side.
$4,700
An account balance is the difference between all the debit and credit entries in the account at any particular time.
Debit and Credit Entries
Balance is on the side with the larger
number
T accounts format
3-30
Profit is not an asset (Revenue – Expense) it’s an increase in equity from profits of the business.
A = L + E
Increase
Decrease
As income is earned, either an asset is increased or a liability is decreased.
Increase
Profit always results in the increase of
Equity (by
increasing Retained
Earnings)
What is Profit?
316
3-31
A = L + E
Retained Earnings
Share
Capital
Retained
Earnings
(Profit –
Dividends)
The balance in the Retained Earnings account represents the profit (Revenue – Expense) of the corporation over the entire lifetime of the business, less all amounts which have been distributed to the shareholders as dividends.
3-32
JJ's Lawn Care Service Income Statement For the Month Ended 31 May 2009
Sales Revenue
750
$
Operating Expense:
Gasoline Expense
50
Profit
700
$
The income statement summarizes the profitability of a business for a specified period of time.
The Income Statement: A Preview
317
Debit and Credit Effects on Accounts in the
Expanded Accounting Equation
Shareholders’ Equity
Share Capital
3-33
Basic Accounting Equation A = L + OE
Expanded Accounting Equation A = L + OE + (R – E – D)
3-34
Revenue and Expenses
The price for
goods sold
and services
rendered during a
given accounting
period.
Increases equity
(through retained
earnings).
The costs of
goods and
services used up
in the process of earning revenue.
Decreases equity
(through retained
earnings).
.
318
3-35
Debit and Credit Rules for Revenue and Expenses
EQUITIES
Debit
for
Decrease
Credit
for
Increase
Expenses
decrease equity.
Revenues
increase equity.
EXPENSES
Credit
for
Decrease
Debit
for
Increase
REVENUES
Debit
for
Decrease
Credit
for
Increase
3-36
EQUITIES
Debit
for
Decrease
Credit
for
Increase
Payments to
owners
decrease equity.
Owners’
investments
increase equity.
DIVIDENDS
Credit
for
Decrease
Debit
for
Increase
Dividends
SHARE CAPITAL
Debit
for
Decrease
Credit
for Increase
319
3-37
Debit and Credit Effects on Each Account Type
A simple memory aid to remember which accounts increase with debits and which with credits.
A = L + OE + (R – E – D)
A + E + D = L + OE + R
3-38
Summary - Rules of DR & CR
DEBIT DR
Assets
Expenses
Dividends
Increase
DEBIT DR
Liabilities
Owner’s Equity
Revenues
Decrease
CREDIT CR
Assets
Expenses
Dividends
Decrease
CREDIT CR
Liabilities
Owner’s Equity
Revenues
Increase
320
3-39
Let’s analyze the
revenue and
expense
transactions for
JJ’s Lawn Care
Service for the
month of May.
We will also
analyze a dividend
transaction.
29 May: JJ’s provided lawn care services for a client and received $750 in cash.
Will Cash increase
or decrease?
Will Sales Revenue increase or decrease?
Sales Revenue
29/5
750
Cash increases
$750 with a debit.
Sales Revenue
increases $750 with
a credit.
Cash
1/5 8,000 2/5 2,500 25/5 75 8/5 2,000 29/5 750 28/5 150
3-40
321
31 May: JJ’s purchased gasoline for the lawn mower and the truck for $50 cash.
Will Cash increase
or decrease?
Will Gasoline
Expense increase or
decrease?
Gasoline Expense
31/5
50
Cash decreases $50
with a credit.
Gasoline Expense increases $50 with a debit.
Cash
1/5 8,000 2/5 2,500 25/5 75 8/5 2,000 29/5 750 28/5 150
31/5
50
3-41
31 May: JJ’s Lawn Care paid Jill Jones and her family a $200 dividend.
Will Cash increase
or decrease?
Will Dividends increase or decrease?
Dividends
31/5
200
Cash decreases
$200 with a credit.
Dividends increase
$200 with a debit.
Cash
1/5 8,000 2/5 2,500 25/5 75 8/5 2,000 29/5 750 28/5 150
31/5 50
31/5
200
3-42
322
STEP III: PREPARE
UNADJUSTED TRIAL
BALANCE
3-44
3.Trial Balance
Once all transactions have been posted to the ledger, a trial balance is prepared.
Trial balance - a list of all of the accounts with their balances.
To help check on accuracy of posting by proving whether the total debits equal the total credits.
To establish a convenient summary of
balances in all accounts for the
preparation of formal financial statements.
323
3-45
Now, let’s look at
the Trial Balance
for JJ’s Lawn
Care Service for
the month of May.
3-46
JJ's Lawn Care Service
Unadjusted Trial Balance
31 May 2009
DR
CR
Cash
3,925
$
Accounts receivable 75 Tools & equipment 2,650 Truck 15,000 Notes payable 13,000
$
Accounts payable
150
Share capital
8,000
Dividends
200
Sales revenue
750
Gasoline expense
50
Total
21,900
$
21,900
$
•
All balances are taken from the ledger accounts on 31 May after considering all of JJ’s transactions for the month.
•
Total debit balance = total credit balance according to the rules of double-entry accounting.
324
3-47
Accounting Periods (p104)
Time Period Principle To provide users of financial statements with timely information, profit is measured for relatively short accounting periods of equal length.
This principle allows the life of a company to be divided into artificial time periods such as months and years so that profit can be measured for a specific period of time (e.g., monthly, quarterly, annually). Without this principle, a company’s income statement could only be reported at the end of its life.
3-48
The Recognition Principle: When to record Revenue (p104)
Recognition Principle Revenue should be recognized at the time goods are sold and services are rendered, regardless of when cash is received.
325
3-49
The Matching Principle: When to record Expenses (p105)
Matching Principle
Expenses should be recorded in the period in which they are used up to generate revenue, regardless of when cash is paid.
3-50
Readings – Chapter 3 Williams
Exercises 3.1, 3.6, 3.9 & 3.11 (p126 to p129)
Problems 3.1B, 3.3B & 3.5B (p137 to p141)
(solutions are available on SOUL)
**Practice makes perfect
End of Chapter 3
Readings and Home Exercises