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| Category: Business:Training |
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| About the Book | |
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How to Do Accounting I includes student text, student working papers and solutions. How to Do Accounting I can be used for a 6 – 12 week class. It can be used to supplement current accounting text. Since the working papers and instructor solutions are included, it can be used as an aid to tutor students or can be used by an individual to become acquainted with accounting principles The nine chapters include: 1) the definition of accounting terms and the accounting equation. 2) the basics of T accounts and use of debit and credit in accrual accounting. Recording business transaction in the General Journal 3) Posting business transaction from General Journal to General Ledger and making Trial Balance and Financial Statement of Income, Capital and Balance Sheet.. 4 and 5) Using special journals to record business transactions. These include Cash Journal and the Purchases and Sales Journal. Current balance ledgers and subsidiary accounts receivable and payable ledgers are included in these chapters. 6) Accrual accounting for the amount of assets and liabilities are determined and a worksheet is prepared. 7) Financial Statements: Income Statement with Cost of Goods Sold, the Capital Statement and the Balance Sheet are prepared 8) Journalizing and Posting the Adjusting and Closing Entries. 9) Journalizing and Posting Reversing Entries and Petty Cash transactions.
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| About the Author | |
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The author has worked as a college administrator and as an instructor in high school, junior college, college and adult education. During his time teaching Principles of Accounting I, at these various levels, he developed a way to simplify the baffling concept of debits and credits in Accrual Accounting |