Principles of Accounting

by Pollard, Meg; Mills, Sherry T.; Harrison, Walter T.

• ISBN13: 9780132304795
• ISBN10: 0132304791
• Edition: 1st
• Format: Hardcover
• Copyright: 2007-01-01
• Publisher: Prentice Hall

Summary

The Demo Docs System of instruction replicates the classroom experience by providing more "I get it" moments outside of class.Wers"ve talked to tons of POA instructors and our editors have even taken the accounting course (numerous times!) to figure out the following issue in this course that is consistent: Students understand (or "get it") right after you do a problem in class, but as soon as they leave class, with each passing hour, their ability to do the problems again and complete their homework diminishes to the point of them either having to come to office hours to get help, or they just quit and get behind in the course. On top of this, you can end up getting behind in the course as well, in order to keep everyone on track. The Demo Docs system helps to recreate the "I get it" moments outside of class-keeping both you and the students on track.

Table of Contents

Accounting and the Business Environment Vignette: Turning Your Dreams into Business Business Organizations

Types of Businesses

Forms of Business Organizations Accounting and Accountability

Organization Accountability

Financial Accounting and Management Accounting Accounting Concepts and Principles

The Entity Concept

The Reliability (Objectivity) Principle

The Cost Principle

The Going-Concern Concept The Accounting Equation

Assets, Liabilities, and Ownerrsquo;s Equity

Components of Ownerrsquo;s Equity

Accounting for Business Transactions

Evaluating Business Transactions Financial Statements

The Income Statement

The Statement of Ownerrsquo;s Equity

The Balance Sheet

The Statement of Cash Flows Relationships Among the Financial Statements Ethical Decision Making

Ethics in Accounting and Business

Standards of Professional Conduct Accounting in Action Review Word Power Quick Check

Accounting Practice Short Exercises Exercises Problems Be on Guard

Case #1 Be on Guard

Case #2 Know Your Business Quick Check Solutions

Recording Business Transactions Vignette: Shopping for Your Future Process of Recording and Summarizing Business Transactions

Transactions

Accounts

Assets

Liabilities

Ownerrsquo;s Equity

Chart of Accounts Double Entry Accounting

Rules of Debits and Credits

T-Account

Normal Balance Recording and Summarizing Business Transactions

The Transaction Analysis

Applying Transaction Analysis

Balancing the Accounts

Details of Journals and Ledgers

Posting

Four-Column Account Trial Balance

Trial Balance Errors

Using the Trial to Prepare Financial Statements Accounting in Action Review Word Power Quick Check

Accounting Practice Short Exercises Exercises Problems Be on Guard

Case #1 Be on Guard

Case #2 Know Your Business Quick Check Solutions

The Adjusting Process Vignette: Adjusting to Reality Measuring Business Income Using Accounting Principles Types of Adjusting Entries Adjusting the Accounts

Deferrals

Accruals Summary of the Adjusting Process

The Adjusted Trial Balance Preparing the Financial Statements

Relationships Among the Financial Statements

Accounting in Action Review Word Power Quick Check Accounting Practice Short

Exercises

Exercises Problems Be on Guard

Case #1 Be on Guard

Case #2 Know Your Business Quick Check Solutions

Completing the Accounting Cycle Vignette

Scoring the Game The Accounting Cycle

The Worksheet Completing the Accounting Cycle

Preparing the Financial Statements

Recording the Adjusting Entries Closing the Accounts

The Four Closing Entries

Post-Closing Trial Balance Classifying Assets and Liabilities

Assets

Liabilities

A Classified Balance Sheet Accounting in Action Review Word Power Quick Check

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