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Accounting: The language of Business What is accounting?

The purpose of accounting Types of accounting Financial Statements Generally Accepted Accounting Principles The Balance Sheet The Accounting Equation Effects of Business Transactions on Accounting Equation Forms of Business Organizations Recording Changes in Financial Position The Ledger: i) T Accounts ii) Running Balance Form of Accounts The Ledger The Journal The Trial Balance Measuring Business Income The Income Statement Adjusting Entries Adjusted Trial Balance Preparing Set of Financial Statements The Income Statement The statement of Owners Equity The Balance Sheet Closing the temporary accounts (Closing Entries) After Closing Trial Balance

Completion of Accounting Cycle Deferrals & Accruals The Worksheet Bank Statements Reconciling the bank statements Corporation Issue of Shares at Par, Premium and Discount under Companies Ordinance 1984 Accounts for Non Trading Concerns Receipt & Payment Accounts Income & Expenditure Accounts The Balance Sheet

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