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ACCOUNTING PRESENTATION

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by

Priska Eunike Darmadi

on 6 September 2013

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Transcript of ACCOUNTING PRESENTATION

Accounting
Chart of Accounts
Asset : 100-199
Liabilities : 200-299
Owner's equity : 300-399
Income : 400-499
Expenses : 500-599
What is ACCOUNTING?
the need of
accounting
a system that identifies, records and communicates economic events of an entity to interest users.
internal
external
Rules of Debit and Credit
Asset + Expenses + Drawings
debit : increases
credit : decreases
debit : decreases
credit : increases
General Journal
- simple and compound journal

- always include descriptions

- record transactions made by the entities

- example of general journal
Date
Details
PR
Dr
Cr
- provide financial report (past and present)

- assist in making decisions (future)
=
Liabilities + Owner's Equity + Income
Ledger
- individual accounting record for each accounts

- each account has unique number (PR) to help locate accounts

- T format type
Example of ledgers
Cash at bank
Dr
Cr
100
Cr
Dr
Trial balance
- list of accounts and their balances at a given date



Example of trial balance
Account
Dr
Cr
a

DEBIT EQUAL CREDIT
Rules of accounting
meet the definitions
probable occurrence
reliable measurement
understandability
comparability
timeliness
verfiability
free from material error
Thankyou !
Cash
Capital
Equipment
(owner contributed cash and equipment )
100
150
300
1000
500
1500
2012
1/7
2/7
Cash
Service Revenue
100
400
800
800
3/7
Wages expense
(earned income for services)
Cash
500
100
700
700
(paid staff wages in cash)
5/7
Account payable
Equipment
(purchased equipment on credit)
150
200
600
600
Capital 1000
Service revenue 800
Wages expense 700
Balance 1100
Closing balance 1100
1800
1800
Equipment
150
Capital 500
Account payable 600
Balance 1100
Account Payable
Cr
Dr
200
Equipment 600
Balance 600
Capital
Cr
Dr
300
Cash 1000
Equipment 500

Balance 1500
Service Revenue
Dr
Cr
400
Cash 800

Balance 800
Wages expenses
Dr
Cr
500
Cash 700

Balance 700
Cash
Equipment

Account Payable
Capital
Service Revenue
Wages Expense
1100
1100



700
600
1500
800
2900
2900
1/7
2/7
3/7
1/7
5/7
$
1/7
1/7
1/7
2/7
3/7
Full transcript