Accounting for Accruals

Accounting for Accruals

Accounting for Accruals

Accounting for Accruals

In this chapter you should learn to:

1. Record basic accrual events in a horizontal financial statements model.

2. Organize general ledger accounts under an accounting equation.

3. Prepare financial statements based on accrual accounting.

4. Describe the matching concept, the accounting cycle, and the closing process.

5. Record business events involving interest-bearing receivables and payables in a horizontal financial statements model.

6. Prepare a vertical financial statements model.

7. Explain how business events affect financial statements over multiple accounting cycles.

8. Describe the auditor’s role in financial reporting.

9. Describe the articles of the AICPA’s Code of Professional Conduct and identify the major factors that lead to unethical conduct.

10. Classify accounting events into one of four categories:
a. asset source transactions.
b. asset use transactions.
c. asset exchange transactions.
d. claims exchange transactions.

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Home > Chapter 2

	More Resources
		PowerPoint Presentations
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		Learning Objectives The Curious Accountant Chapter Opening Accrual Accounting Second Accounting Cycle Accounting for Notes P... Importance of Ethics A Look Back A Look Forward Self-Study Review Prob... Key Terms Questions Exercises-Series A Problems-Series A Exercises-Series B Problems-Series B Analyze, Think, Commun...

	More Resources
		PowerPoint Presentations
	eBook
		Learning Objectives The Curious Accountant Chapter Opening Accrual Accounting Second Accounting Cycle Accounting for Notes P... Importance of Ethics A Look Back A Look Forward Self-Study Review Prob... Key Terms Questions Exercises-Series A Problems-Series A Exercises-Series B Problems-Series B Analyze, Think, Commun...