基礎(chǔ)會(huì)計(jì)英語chapter 4 Accounting Cycle and Bookkeeping Procedures

1、Chapter 4 Accounting Cycle and Bookkeeping ProceduresChapter 4 Accounting Cycle and Bookkeeping Procedures1. To understand the concept of the accounting cycle and basic steps; 2. To learn to use recording vouchers, the categorized account summary and summary vouchers and other accounting procedures.

2、Objectives:Chapter 4 Accounting Cycle and Bookkeeping ProceduresBrainstorming1. Try to speak these accounting terms in English會(huì)計(jì)循環(huán)記賬憑證賬務(wù)處理程序回轉(zhuǎn)分錄編制工作底稿遞延費(fèi)用商業(yè)文書會(huì)計(jì)科目平衡Chapter 4 Accounting Cycle and Bookkeeping ProceduresBrainstorming1) In accounting practice, what basic steps consist of accounting cycl

3、e? 2) What is bookkeeping procedures?3) Why do accountants need to prepare a worksheet before making financial statements? 2. Discuss and answer the following questions.Chapter 4 Accounting Cycle and Bookkeeping ProceduresIntroductionDuring a certain period, an accounting cycle in an entity is a seq

4、uence of accounting procedures, which starts with accounting documents written when an economic transaction occurs, and ends in accounting statements prepared after account books are entered. The whole accounting cycle often lasts one month and includes four phases: accounting confirmation, accounti

5、ng calculation, accounting record and accounting report. In this cycle, accounting vouchers, account books and accounting statements are always integrated, so the measures and procedures of integration are named bookkeeping procedures, accounting organizational procedures or accounting formats. Chap

6、ter 4 Accounting Cycle and Bookkeeping ProceduresIntroductionDifferent procedures can be formed when accountants integrate different account books organizations, bookkeeping processes and bookkeeping methods in different ways. Among these procedures, there are main differences in ledgers bases and m

7、ethods. In accounting practice, different procedures can be applied in an integrated way. In China, the main bookkeeping procedures are using recording vouchers, the categorized account summary and summary vouchers. And the primary one is the bookkeeping procedure using recording vouchers. Chapter 4

8、 Accounting Cycle and Bookkeeping Procedures4.1 Accounting CycleChapter 4 Accounting Cycle and Bookkeeping Procedures4.1 Accounting CycleThe sequence of accounting procedures used to record, classify, and summarize accounting information is often termed the accounting cycle. The accounting cycle beg

9、ins with the initial recording of business transactions and concludes with the preparation of formal financial statements summarizing the effects of these transactions upon the assets, liabilities, and owners equity of the business. The term “cycle” indicates that these procedures must be repeated c

10、ontinuously to enable the business to prepare new, up-to-date financial statements at reasonable intervals.Chapter 4 Accounting Cycle and Bookkeeping ProceduresThe accounting cycle consists of some specific steps as follows:Post journal entries to accounts;（3）Prepare a worksheet;（5）Journalize transa

11、ctions;（2）Prepare financial statements;（6）Analyze transactions and business documents;（1）Determine account balances and prepare a trial balance;（4）Chapter 4 Accounting Cycle and Bookkeeping Procedures4.1 Accounting CyclePrepare a Post-Closing Trial Balance（9）Make Closing Entries（8）Journalize and Pos

12、t Adjusting Entries.（7）Make Reversing EntriesChapter 4 Accounting Cycle and Bookkeeping Procedures（10）Notice that Step 1 to 3 occur continuously during the accounting period, Step 4 to 9 occur only at the end of the accounting period, and Step 10 occurs only at the start of the next accounting perio

13、d.confirmation knfmen n.證實(shí),證據(jù),確認(rèn)accounting confirmation會(huì)計(jì)確認(rèn)accounting calculation會(huì)計(jì)計(jì)量bookkeeping procedures 賬務(wù)處理程序bookkeeping procedure using recording voucher記賬憑證賬務(wù)處理categorized account summary 科目匯總表賬務(wù)處理summary voucher匯總記賬憑證New words and expressionsChapter 4 Accounting Cycle and Bookkeeping Procedu

14、resaccounting cycle會(huì)計(jì)循環(huán)up-to-date現(xiàn)代的; 最新的worksheet 工作表，工作底稿reversing entry回轉(zhuǎn)分錄unclassified nklsfad adj.未經(jīng)分類的；不保密的trial balance試算平衡(表)account balances 會(huì)計(jì)科目平衡omit umit vt.省略, 遺漏, 刪掉New words and expressionsChapter 4 Accounting Cycle and Bookkeeping Procedures4.2 Bookkeeping ProceduresChapter 4 Account

15、ing Cycle and Bookkeeping ProceduresBookkeeping procedure using recording vouchersThe bookkeeping procedure using recording vouchers means general ledgers can be directly made according to every recording voucher, which is typical of this procedure. And on the basis of this procedure, the other book

16、keeping procedures develop. When the bookkeeping procedure uses recording vouchers, receipt vouchers, payment vouchers and transfer vouchers are needed for entering any transaction into general ledgers. During this procedure, the designed books mainly include special journals (including cash on hand

17、 journals and cash in bank journals) and ledgers (general ledgers and subsidiary ledgers). Chapter 4 Accounting Cycle and Bookkeeping ProceduresThe following are basic steps in the bookkeeping procedure (using recording vouchers)(1) Prepare summarized source vouchers and make recording vouchers (inc

18、luding receipt vouchers, payment vouchers and transfer vouchers) according to the source vouchers or summarized source vouchers that are examined correctly;(2) Post each entry into cash on hand journals and cash in bank journals according to every receipt voucher and payment voucher;Chapter 4 Accoun

19、ting Cycle and Bookkeeping Procedures(3) Design subsidiary ledgers in accordance with source vouchers, summarized source vouchers and recording vouchers;The following are basic steps in the bookkeeping procedure (using recording vouchers)(4) Prepare general ledgers according to every entry in record

20、ing vouchers;(5) Check each balance in special journals and the amount of subsidiary ledgers balance against each related balance in general ledgers at the end of a month;(6) Prepare accounting statements at the end of a month after entries in general ledgers and subsidiary ledgers are examined corr

21、ectly.Chapter 4 Accounting Cycle and Bookkeeping Procedures(Figure 4-1) Bookkeeping procedure using recording vouchers.Chapter 4 Accounting Cycle and Bookkeeping Proceduressummarized source vouchersource voucherrecording voucherreceipt voucherpayment vouchertransfer vouchercash on hand journalcash i

22、n bank journalgeneral ledgersubsidiary ledgeraccounting statementBookkeeping procedures using categorized account summaryA categorized account summary is a form.Debits Credits receipt voucherspayment vouchers transfer vouchersand the sum of each titleeach titles credit amount a the sum of each title

23、 Chapter 4 Accounting Cycle and Bookkeeping ProceduresAfter the trial balance, the accounting information can be used directly for the entries in the general ledgers .Chapter 4 Accounting Cycle and Bookkeeping Procedures Categorized Account Summary M D Y to M D YAccount TitleAccrued AmountPages of L

24、edgerPages Beginning & Endin Recording VoucherDebitCredit Total (Sample 4-1) The bookkeeping procedure using the categorized account summary is also called bookkeeping procedure using the summarized recording vouchers. This procedure means the categorized account summary can be periodically made acc

25、ording to every recording voucher, and on the basis of the summary entries are entered into the general ledgers. That is to say, in this procedure its typical to enter any transaction into general ledgers using the categorized account summary. Chapter 4 Accounting Cycle and Bookkeeping ProceduresThe

26、 following are basic steps in the bookkeeping procedure using the categorized account .(1) Prepare summarized source vouchers on the basis of analyzing source vouchers;(2) Make recording vouchers according to the source vouchers or summarized source vouchers that are examined correctly;(3) Post each

27、 entry into cash journals and bank savings journals according to every receipt voucher and payment voucher;Chapter 4 Accounting Cycle and Bookkeeping Procedures(4) Design specific ledgers in accordance with source vouchers, summarized source vouchers and recording vouchers;The following are basic st

28、eps in the bookkeeping procedure using the categorized account summary .(5) Prepare the categorized account summary according to every entry in recording vouchers;(6) Enter any transaction into general ledgers using the categorized account summary.(7) Check each balance in cash on hand journals, cas

29、h in bank journals and subsidiary ledgers against each related balance in general ledgers at the end of a period;Chapter 4 Accounting Cycle and Bookkeeping Procedures(8) Prepare accounting statements at the end of a period in accordance with general ledgers and subsidiary ledgers.Bookkeeping procedu

30、re using summary vouchersThe bookkeeping procedure using summary vouchers means general ledgers can be directly made according to every summary voucher. In summary vouchers, there are summarized receipt vouchers, summarized payment vouchers and summarized transfer vouchers. Chapter 4 Accounting Cycl

31、e and Bookkeeping ProceduresChapter 4 Accounting Cycle and Bookkeeping Procedures(Sample 4-2) Summarized Receipt VouchersAccount Title in Debit：Cash M Y Account Title in CreditAmountPages in LedgerDate from_to _Receipt VouchersNo. from_to _Date from_to _Receipt VouchersNo. from_to _Date from_to _Rec

32、eipt VouchersNo. from_to _TotalDebitCredit Total in the month Chapter 4 Accounting Cycle and Bookkeeping Procedures(Sample 4-3) Summarized Payment VouchersAccount Title in Debit：Cash M Y Account Titlein DebitAmountPages in LedgerDate from_to _Payment VouchersNo. from_to _Date from_to _Payment Vouche

33、rsNo. from_to _Date from_to _Payment VouchersNo. from_to _TotalDebitCredit Total in the month Chapter 4 Accounting Cycle and Bookkeeping Procedures(Sample 4-4) Summarized Transfer VouchersAccount Title in Debit：Cash M Y Account Titlein DebitAmountPages in LedgerDate from_to _Transfer VouchersNo. fro

34、m_to _Date from_to _Transfer VouchersNo. from_to _Date from_to _Transfer VouchersNo. from_to _TotalDebitCredit Total in the month The following are basic steps in the bookkeeping procedure using summary vouchers (See Figure 5-3.).(1) Prepare recording vouchers after examining source vouchers or summ

35、arized source vouchers;(2) Post entries into Cash on hand journals and Cash in bank journals according to receipt vouchers and payment vouchers;(3) Enter in the related specific ledgers on the basis of source vouchers, summarized source voucher and recording vouchers;Chapter 4 Accounting Cycle and Bookkeeping Procedures(4) Design summarized transfer vouchers separately