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Income Measurement & The Reporting Cycle

Income Measurement "Measurement Triggering" Transactions and Events The Meaning of "Accounting" Income More Income Terminology An Emphasis on Transactions and Events The Periodicity Assumption Accounting Implications Basic Elements of Revenue Recognition Payment and Revenue Recognition Basic Elements of Expense Recognition Payment and Expense Recognition The Adjusting Process and Related Entries Illustration of Prepaid Insurance Illustration of Prepaid Rent I'm a Bit Confused - Exactly When do I Adjust?Illustration of Supplies Depreciation Unearned Revenues Accruals Accrued Salaries Accrued Interest Accrued Rent Accrued Revenue Recap of Adjustments The Adjusted Trial Balance Alternative Procedures for Certain Adjustments Accrual-Versus Cash-Basis Accounting Modified Approaches Illustration of Cash- Versus Accrual Basis of Accounting The Reporting Cycle Preparing Financial Statements An Illustration Considering the Actual Process for Adjustments Financial Statements Computerization A Worksheet Approach An Additional Illustration The Accounting Cycle and Closing Process The Closing Process Post Closing Trial Balance Revisiting Computerization Reversing Entries Classified Balance Sheets Assets Liabilities Equity Other Entity Forms Notes to the Financial Statements Business Liquidity and the Operating Cycle Working Capital Current Ratio Quick Ratio

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