Chapter F4 Power notes Completing the Accounting Cycle Learning Objectives 1. Work sheet 2 Financial statements 3. Adjusting and closing entries 4. Accounting Cycle 5. Fiscal Year 6. Financial Analysis and Interpretation C4
Learning Objectives Power Notes Completing the Accounting Cycle 1. Work Sheet 2. Financial Statements 3. Adjusting and Closing Entries 4. Accounting Cycle 5. Fiscal Year 6. Financial Analysis and Interpretation Chapter F4 C4
Chapter F4 Power notes Completing the Accounting Cycle Slide if Power Note Topics 3· The Work sheet 18. Financial Statements 22. The Closing Process 28. Post-Closing Trial Balance 31· Accounting Cycles 43. Working Capital and Current ratio Note: To select a topic, type the slide and press Enter
• The Work Sheet • Financial Statements • The Closing Process • Post-Closing Trial Balance • Accounting Cycles • Working Capital and Current Ratio Slide # Power Note Topics 3 18 22 28 31 43 Note: To select a topic, type the slide # and press Enter. Chapter F4 Power Notes Completing the Accounting Cycle
The Work Sheet Trial Balance Adjustments Adjusted TB Accounts DrCr Dr Cr Dr Cr Prepared from general ledger. Accounts are listed in order: A.L. OER. E
The Work Sheet Trial Balance Accounts Dr Cr Dr Cr Dr Cr Adjustments Adjusted TB Prepared from general ledger. Accounts are listed in order: A, L, OE, R, E
The Work Sheet Trial Balance Adjustments Adjusted TB Accounts DrCr Dr Cr Dr Cr Adjustments are entered here. Two possibilities 1. Deferrals - Existing balances are changed 2. Accruals- New information is entered
The Work Sheet Adjustments are entered here. Two possibilities: 1. Deferrals – Existing balances are changed. 2. Accruals – New information is entered. Trial Balance Accounts Dr Cr Dr Cr Dr Cr Adjustments Adjusted TB
The Work sheet Trial Balance Adjustments Adjusted TB ccounts Dr Cr Dr Cr Dr Cr Adjustments are combined with the trial balance Account balances are now adjusted
The Work Sheet Adjustments are combined with the trial balance. Account balances are now adjusted. Trial Balance Accounts Dr Cr Dr Cr Dr Cr Adjustments Adjusted TB