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

 

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