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The Accounting Cycle - principlesofaccounting.com
  • Chapters 1-4 The Accounting Cycle
    • Chapter 1: Welcome to the World of Accounting
    • Chapter 2: Information Processing
    • Chapter 3: Income Measurement
    • Chapter 4: The Reporting Cycle
  • Chapters 5-8 Current Assets
    • Chapter 5: Special Issues for Merchants
    • Chapter 6: Cash and Highly-Liquid Investments
    • Chapter 7: Accounts Receivable
    • Chapter 8: Inventory
  • Chapters 9-11 Long-Term Assets
    • Chapter 9: Long-Term Investments
    • Chapter 10: Property, Plant, & Equipment
    • Chapter 11: Advanced PP&E Issues/Natural Resources/Intangibles
  • Chapters 12-14 Liabilities/Equities
    • Chapter 12: Current Liabilities and Employer Obligations
    • Chapter 13: Long-Term Obligations
    • Chapter 14: Corporate Equity Accounting
  • Chapters 15-16 Using Information
    • Chapter 15: Financial Reporting and Concepts
    • Chapter 16: Financial Analysis and the Statement of Cash Flows
  • Chapters 17-20 Managerial/Cost
    • Chapter 17: Introduction to Managerial Accounting
    • Chapter 18: Cost-Volume-Profit and Business Scalability
    • Chapter 19: Job Costing and Modern Cost Management Systems
    • Chapter 20: Process Costing and Activity-Based Costing
  • Chapters 21-24 Budgeting/Decisions
    • Chapter 21: Budgeting – Planning for Success
    • Chapter 22: Tools for Enterprise Performance Evaluation
    • Chapter 23: Reporting to Support Managerial Decisions
    • Chapter 24: Analytics for Managerial Decision Making

The Accounting Cycle

  1. Home

Chapter 1: Welcome to the World of Accounting

Accounting Information

The Accounting Profession and Careers

The Accounting Equation

How Transactions Impact the Accounting Equation

The Four Core Financial Statements

 

Chapter 2: Information Processing

Accounts, Debits, And Credits

The Journal

The General Ledger

The Trial Balance

Computerized Processing Systems

T-Accounts

 

Chapter 3: Income Measurement

“Measurement Triggering” Transactions And Events

The Periodicity Assumption

Basic Elements Of Revenue Recognition

Basic Elements Of Expense Recognition

The Adjusting Process And Related Entries

Accrual Versus Cash-Basis Accounting

 

Chapter 4: The Reporting Cycle

Preparing Financial Statements

The Accounting Cycle And Closing Process

Reversing Entries

Classified Balance Sheets

Business Liquidity And The Operating Cycle

 

Need help preparing for an accounting cycle exam? Check out ExamCram the exam preparation tool!

 

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Additional Resources  

  Illustrative Entries

  Examples of journal entries for numerous sample transactions

  Account Types

  Typical financial statement accounts with debit/credit rules and disclosure conventions

  Glossary

  Includes financial and managerial terms

  Time Value of Money

  Future and present value tables

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  • Chapters 1-4
    • Chapter 1: Welcome to the World of Accounting
    • Chapter 2: Information Processing
    • Chapter 3: Income Measurement
    • Chapter 4: The Reporting Cycle
  • Chapters 5-8
    • Chapter 5: Special Issues for Merchants
    • Chapter 6: Cash and Highly-Liquid Investments
    • Chapter 7: Accounts Receivable
    • Chapter 8: Inventory
  • Chapters 9-11
    • Chapter 9: Long-Term Investments
    • Chapter 10: Property, Plant, & Equipment
    • Chapter 11: Advanced PP&E Issues/Natural Resources/Intangibles
  • Chapters 12-14
    • Chapter 12: Current Liabilities and Employer Obligations
    • Chapter 13: Long-Term Obligations
    • Chapter 14: Corporate Equity Accounting
  • Chapters 15-16
    • Chapter 15: Financial Reporting and Concepts
    • Chapter 16: Financial Analysis and the Statement of Cash Flows
  • Chapters 17-20
    • Chapter 17: Introduction to Managerial Accounting
    • Chapter 18: Cost-Volume-Profit and Business Scalability
    • Chapter 19: Job Costing and Modern Cost Management Systems
    • Chapter 20: Process Costing and Activity-Based Costing
  • Chapters 21-24
    • Chapter 21: Budgeting – Planning for Success
    • Chapter 22: Tools for Enterprise Performance Evaluation
    • Chapter 23: Reporting to Support Managerial Decisions
    • Chapter 24: Analytics for Managerial Decision Making
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