会计英语 会计循环ppt

6. Prepare financial statements
5. Prepare a worksheet
4. Determine account balances and prepare a trial balance
8. Make closing entries
9. Prepare a post-closing trial balance
Step 2. Journalize Transactions The second step in the accounting cycle is to record the results of transactions in a journal. Known as “book” books of original entry“， journals provide a chronological record of all entity transactions. They show the dates of the transactions， the amounts involved， and particular accounts affected by the transactions. Usually， an explanation of the transaction is also panies may use General Journals or special journals to record all transactions. This format can be called journal entry.
Step 6. Prepare Financial Statements Once all transactions have been analyzed， journalized， and posted and all adjusting entries have been made， the accounts can be summarized and presented in the form of financial statements. The information for the income statement and the balance sheet is taken directly form the worksheet， when one is used. When a worksheet is not used， financial statements are prepared directly from the data in the adjusted ledger accounts.
Step4. Determine Account Balances and Prepare a Trial Balance At the end of each accounting period， after all of the regular entries for completed transactions have been journalized and posted to the ledger， a trial balance should be prepared. This trial balance is prepared before the adjusting entries are made； therefore， it is often called the unadjusted trial balance.A trial balance lists each account with its debit or credit balance. These types of errors will not be discovered by preparing a trial balance； additional analysis would be required.
Step 9. Prepare a Post-Closing Trial Balance The purposes of a trial balance are （a） to verify the equality of the debits and credits and （b） to have the account balances ready for other uses. Two different trial balances have already been discussed： the unadjusted trial balance and the adjusted trial balance. A third trial balance usually is taken after the closing entries have been posted. It is called the post-closing trial balance. It is used to verify that the debits and credits are equal at the start of the next accounting period.
Step 3. Post Journal Entries to Accounts Once transactions have been analyzed and recorded in journal， it is necessary to classify and group all similar items. This is accomplished by the procedure of posting all the journal entries to appropriate accounts. A ledger， is a book of accounts in which data from transactions recorded in journals are posted and thereby classified and summarized. The list of accounts used by a company is known as its chart of accounts.
Step 8. Make Closing Entries After the financial statements are prepared and the adjusting entries have been journalized and posted， the closing process must be completed. The purpose of the closing process is to transfer the balances of all of the temporary accounts to the Retained Earnings account. The result is that （a） retained earnings will be increased by the amount of net income， or decreased by net loss， and （b） each temporary account will start the next year with a zero balance. The permanent accounts are not affected by the closing process except for the change in retained earnings.
The Accounting Cycle
The accounting cycle is the process by which accountants prepare financial statements for an entity for a specific period of time.
Steps in the accounting cycle
1. Analyze transactions and business documents 2. Journalize transactions 3. Post journal entries to accounts
7. Journalize and post adjusting entries
Step 5. prepare a Worksheet The financial statements cannot be prepared until all of the necessary adjusting entries have been formulated. The unadjusted trial balance must be adjusted to in corporate the effects of all of the adjusting entries. A separate worksheet is needed to develop the statement of changes in financial position. Notice that worksheet is not a part of the basic accounting records of the entity； it is a separate facilitation technique tnimizes processing errors. It does not replace the financial statements or any entries in the accounts.
10. Make reversing entries
Step 1. Analyze Transactions and Business Documents The first step in the accounting cycle is to analyze transactions and business documents-the sale invoices， check stubs， and other records that are evidence of those transactions. Business documents confirm that a transaction has occurred and establish the amounts to be recorded. This is the key step in the accounting cycle.