do's and don'ts review of the acctg cycle

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  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Dos and Donts

    1. Use blue or black ballpenonly

    2. An error is corrected byfrst crossing it out with astraight line then writingthe correction on top othe error and not over it.

    3. Put peso signs infnancial statements andin the presentation osolutions to problems

    . Use ruler

    1. Use o pencils is not allowed

    2. Use o erasers or correction

    !uid is not allowed

    3. Peso signs are not placed in"ournals and ledgers

    . #ines drawn with otherguides such as cardboards$%&s$ credit cards$ phonecards$ edge o calculatorsare to be discouraged.

    &o's &on'ts

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    Dos and Donts

    (. Use own calculatorduring e)ams

    *. +upporting

    computations mustbe in goodaccounting ormat

    (. ,o borrowing or sharingo calculators during

    e)ams.*. Use o the cellphone

    inside the classroomeven as calculator is notallowed.

    -. +upporting computationsin algebraic or euationormat.

    &o's &on'ts

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    Dos and Dos

    *. /olumnar worksheet mustbe properly used

    0nly the ruled side mustbe used

    he worksheet must beolded properly$ eually intwo with the ruled partolded inside.

    he name must be writtenlegibly on the top righthand corner o theworksheet that is not ruledolded.

    4olders

    1. /over it with plastic

    2. 5rite the sub6ect$ section$name legibly7 ront$ topright

    3. ,eatly fle theassignments$ seat works$

    most recent on top$together with thee)ercises workbook.

    . able o contents$8idterm$ fnals

    &o's &o's

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    .

    Review of the accountingcycle

    .

  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Review of the accounting

    cycle

    1. Analyze

    .BusinessDocume

    nts

  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Review of the accounting

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    1. Analyze

    2. Journalize .BusinessDocume

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  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Review of the accounting

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    %edgerAccounts

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    Accounts

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    Review of the accounting

    cycle1. Analyze2. Journalize#. $ost to

    %edgerAccounts

    &. 'rialBalance

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    General

    Journal%edger

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  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Review of the accounting

    cycle1. Analyze2. Journalize#. $ost to

    %edgerAccounts

    &. 'rialBalance

    (.Ad)ustments

    *. Ad)usted'rialBalance

    .BusinessDocume

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    Trial

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    Adjustments/

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  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Review of the accounting

    cycle1. Analyze2. Journalize#. $ost to

    %edgerAccounts

    &. 'rialBalance

    (.Ad)ustments

    *. Ad)usted'rialBalance

    +. ,inancial!tatements

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    nts

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    Journal%edger

    Accounts

    Financial

    Reports

    Statement of

    Financial Position

    Income Statement

    Statement of changes

    in Equity

    Cash Flow

    Notes to Financial

    Statements

    Trial

    Balance

    Adjustments/

    Adjusted

    Trial Balance

  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Review of the accounting

    cycle1. Analyze2. Journalize#. $ost to

    %edgerAccounts

    &. 'rialBalance

    (.

    Ad)ustments

    *. Ad)usted

    'rialBalance

    +. ,inancial

    !tatements

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    .BusinessDocume

    nts

    General

    Journal%edger

    Accounts

    Financial

    Reports

    Statement of

    Financial Position

    Income Statement

    Statement of changes

    in Equity

    Cash Flow

    Notes to Financial

    Statements

    losing

    /ntries

    Trial

    Balance

    Adjustments/

    Adjusted

    Trial Balance

    Nominal

    Accounts

    To Revenue

    Summaryrhen Capital

    Account

  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Review of the accounting

    cycle1. Analyze2. Journalize#. $ost to

    %edgerAccounts

    &. 'rial Balance

    (. Ad)ustments

    *. Ad)usted 'rialBalance

    +. ,inancial!tatements

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    .BusinessDocume

    nts

    General

    Journal%edger

    Accounts

    Financial

    Reports

    Statement of

    Financial Position

    Income Statement

    Statement of changes

    in Equity

    Cash Flow

    Notes to Financial

    Statements

    losing

    /ntries

    Trial

    Balance

    Adjustments/

    Adjusted

    Trial Balance

    Post

    Closing

    Trial

    Balance

    Nominal

    Accounts

    To Revenue

    SummaryAn Capital

    Account

    Real

    Accounts

    For the

    Ne!tAccounting

    perio

  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    Review of the accounting

    cycle1. Analyze2. Journalize#. $ost to

    %edgerAccounts

    &. 'rial Balance

    (. Ad)ustments

    *. Ad)usted'rial Balance

    +. ,inancial!tatements

    -. losingentries

    0. $ost losing'rial Balance

    1. Reversing

    /ntries

    .BusinessDocume

    nts

    General

    Journal%edger

    Accounts

    Financial

    Reports

    Statement of

    Financial Position

    Income Statement

    Statement of changes

    in Equity

    Cash Flow

    Notes to Financial

    Statements

    losing

    /ntries

    Reversing

    /ntries

    Trial

    Balance

    Adjustments/

    Adjusted

    Trial Balance

    Post

    Closing

    Trial

    Balance

    Nominal

    Accounts

    To Revenue

    SummaryAn Capital

    Account

    Real

    Accounts

    For the

    Ne!tAccounting

    perio

  • 7/24/2019 Do's and Don'Ts Review of the Acctg Cycle

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    A. nit 3 4 Review of the Accounting ycle for A

    !ervice Business5 $age 1

    Discussion 6uestions 4 "age #

    !u7mission 4 8onday5 !e"tem7er 1+5 212

    B. Read9 ha"ter ( 4 Accounting for Retail :"erations5 "" 1-1

    . ;orercise #=15 #=2

    Assignment9