Major Types of Adjusting Entries (编制) Adjusting entries can be classified as either Prepayments or Accruals Each of these classes has two subcategories. 调整分录可分为以下两类 预付款或 自然累积 每个类都有两个子类。 Adjusting Entries for Prepayments Prepayments fall into two categories: Prepaid exp...
Generally, adjusting journal entries are made for accruals and deferrals, as well as estimates. Sometimes, they are also used to correct accounting mistakes or adjust the estimates that were previously made. Key Highlights An adjusting journal entry is usually made at the end of an accounting peri...
Accrual adjusting entries or simply accruals are one of three types of adjusting entries which are prepared at the end of an accounting period so that a company’s financial statements will comply with the accrual method of accounting. Expressed another way, accrual adjusting entries are the means...
Chapter3-1 StudyObjectives 1.Explainthetimeperiodassumption.2.Explaintheaccrualbasisofaccounting.3.Explainthereasonsforadjustingentries.4.Identifythemajortypesofadjustingentries.5.Prepareadjustingentriesfordeferrals.6.Prepareadjustingentriesforaccruals.7.Describethenatureandpurposeofanadjusted trialbalance.Chapter3-2...
Lesson 5 Adjusting_Entries课件[18页]LessonFiveAdjustingEntries Learningobjectives:1.Differentiatebetweenthecashbasisandtheaccrualbasisofaccounting.2.Explainthereasonforadjustingentriesandidentifythemajortypesofadjustingentries.3.Prepareadjustingentriesforprepayments4.Prepareadjustingentriesforaccruals.AnEnglishTextbookfor...
Accruals (or accrual-type adjusting entries) involve both expenses and revenues and are associated with the first scenario mentioned in the introduction to this topic: Nothing has been entered in the accounting records for certain expenses and/or revenues, but those expenses and/or revenues did occ...
2. Explain the reason for adjusting entries and identify the major types of adjusting entries. 3. Prepare adjusting entries for prepayments 4. Prepare adjusting entries for accruals. Accrual versus Cash Basis of Accounting 权责发生制与收付实现制 Under the accrual basis of accounting, transactions ...
Generally, adjusting journal entries are made for accruals and deferrals, as well as estimates. Sometimes, they are also used to correct accounting mistakes or adjust the estimates that were previously made. Key Highlights An adjusting journal entry is usually made at the end of an accounting peri...
Adjusting Entries 会计英语 1 SectionAdjustingEntries Part1WorkplaceSpokenEnglish 1.FollowtheSamples A：Mr.Wilson,couldyoupleaseintroducetheadjustingentriesindetail?B：OK.Fourbasicitemsrequireadjustingentries.Thefirsttwoitemsaredeferrals （延期）.Thesecondtwoitemsareaccruals（应计）.A：Whataredeferredexpensesand...
Adjusting entries Adjusting entries can be divided into deferrals and accruals. Each adjustment affects both the balance sheet and income statement .The adjustment can be further divided into five categories: prepaid expenses, depreciation, unearned revenues, accrued expenses, and accrued revenues.1 ...