Basic Accounting and Bookkeeping For Beginners and Non-Accountants

TABLE OF CONTENTS

INTRODUCTION

PART 1 INTRODUCTION TO ACCOUNTING

 

PART 2 INTRODUCTION TO BOOKKEEPING

  • CHAPTER 11 OVERVIEW OF (FINANCIAL) ACCOUNTING PROCESSES AND ACCOUNTING CYCLE
    • Accounting Processes And Accounting Cycle
  • CHAPTER 12 FINANCIAL ACCOUNTING AND BOOKKEEPING
    • Accounting vs Bookkeeping
    • Introduction to Record-Keeping or Bookkeeping
    • Kinds Of Record-Keeping Or Bookkeeping
  • CHAPTER 13 TOOL WHERE TO RECORD: BOOKS OF ACCOUNTS
    • Books Of Accounts
  • CHAPTER 14 THAT WHICH TRIGGERS FINANCIAL RECORD-KEEPING
    • Economic Events
    • Source Documents
  • CHAPTER 15 DOUBLE ENTRY : LIKENED TO A GIVE AND TAKE … IT IS SIMPLY EXCHANGE OF VALUES
    • Values Received and Values Parted With
    • Varied Forms of Values (Received and Parted With)
    • Debit and Credit
  • CHAPTER 16 WHAT TO KNOW ABOUT ACCOUNTS AND/OR ACCOUNT TITLES
    • Accounting Equation : Right Side And Left Side Of The Equation Are Always Equal
    • Identification of Accounts
    • Account and Account Titles
    • Chart Of Accounts
    • Normal Balances Of Accounting Elements
  • CHAPTER 17 ANALYZING AND ACCOUNTING FOR BUSINESS TRANSACTIONS
    • Analyzing And Accounting For Business Transactions
    • Effects of Business Transactions in the Assets, Liabilities and Equity
    • Expenditure: When an Asset? When an Expense?
    • Expenses and its Effects in the Capital or Equity
    • Income and its Effect in the Capital or Equity
  • CHAPTER 18 HOW TO RECORD BUSINESS TRANSACTIONS
    • Journalizing and Journal Entries
    • How To Record Business Transactions
    • DEBIT the Value Received and CREDIT the Value Parted With
    • Matrix of Varied Forms of Values, Debit and Credit Rules
  • CHAPTER 19 SAMPLE BUSINESS TRANSACTIONS: VARIED FORMS OF VALUES RECEIVED AND PARTED WITH AND THEIR ANALYSIS AND EXPLANATION
    • Exchange of Values 1: A form of property is received in exchange for money parted with
    • Exchange of Values 2: A form of property is parted with in exchange for money received
    • Exchange of Values 3: Use of property, or hire of services, of another person is received in exchange for money parted with.
    • Exchange of Values 4: Use of property, or hire of services, of another person is parted with in exchange for money received.
    • Exchange of Values 5: An oral promise (from an individual or entity) to pay is received in consideration for a thing of value parted with
    • Exchange of Values 6: An oral promise (by an individual or entity) to pay is parted with in consideration for a thing of value received
    • Exchange of Values 7: An oral promise (from an individual or entity) is received in consideration for the hire of services by the entity
    • Exchange of Values 8: An oral promise (by an individual or entity) to pay is the value parted with in consideration for the hire of services of another
    • Exchange of Values 9: An oral promise (from an individual or entity) to pay is the value received in exchange for the hire (or use) of the property
    • Exchange of Values 10: An oral promise (by an individual or entity) to pay is the value parted with in exchange for the hire (or use) of the property
    • Exchange of Values 11: Cancellation of oral promise to pay is the value received in consideration for the money parted with
    • Exchange of Values 12: Cancellation of oral promise to pay is the value parted with in consideration for the money received
    • Exchange of Values 13: Implied promise to safeguard the proprietary interest in consideration for money or property received
    • Exchange of Values 14: Reduction of its responsibility to safeguard the proprietary interest in consideration for money or property parted with
  • CHAPTER 20 RECORDING THE JOURNAL ENTRIES OF THE SAMPLE BUSINESS TRANSACTIONS (FROM PRECEDING CHAPTER)
    • JE for A form of property is received in exchange for money parted with
    • JE for A form of property is parted with in exchange for money received
    • JE for Use of property, or hire of services, of another person is received in exchange for money parted with
    • JE for Use of property, or hire of services, of another person is parted with in exchange for money received
    • JE for An oral promise (from an individual or entity) to pay is received in consideration for a thing of value parted with
    • JE for An oral promise (by an individual or entity) to pay is parted with in consideration for a thing of value received
    • JE for An oral promise (from an individual or entity) is received in consideration for the hire of services by the entity
    • JE for An oral promise (by an individual or entity) to pay is the value parted with in consideration for the hire of services of another
    • JE for An oral promise (from an individual or entity) to pay is the value received in exchange for the hire (or use) of the property
    • JE for An oral promise (by an individual or entity) to pay is the value parted with in exchange for the hire (or use) of the property
    • JE for Cancellation of oral promise to pay is the value received in consideration for the money parted with
    • JE for Cancellation of oral promise to pay is the value parted with in consideration for the money received
    • JE for Implied promise to safeguard the proprietary interest in consideration for money or property received
    • JE for Reduction of its responsibility to safeguard the proprietary interest in consideration for money or property parted with

 

PART 3 BASIC BOOKKEEPING FOR SERVICING OR SERVICE BUSINESS (FOR SOLE-PROPRIETOR)

  • CHAPTER 21 JOURNALIZING TO GENERAL JOURNAL
    • Basic Guidelines in Journalizing
    • Journalizing – Example
    • Journalizing – Exercises
    • Journalizing – Solution
  • CHAPTER 22 POSTING TO LEDGER
    • Ledger
    • Basic Guidelines in Posting
    • Posting – Example
    • Posting – Exercise
    • Posting – Solutions
  • CHAPTER 23 PREPARING AN UNADJUSTED TRIAL BALANCE
    • Preliminary Trial Balance
    • Basic Guidelines in Preparing a Trial Balance
    • Basic Guidelines in Preparing a Trial Balance – Example
    • Preliminary Trial Balance – Exercise
    • Preliminary Trial Balance – Solution
  • CHAPTER 24 ADJUSTING ENTRIES
    • Matching Principle for Income and Expenses
    • Need for Adjusting Entries
    • Accrued Income
    • Accrued Expenses
    • Unearned Income
    • Prepaid Expense
    • Plant Assets and Depreciation
    • Straight-line Method of Depreciation
    • Accounts Receivable and Impairment Loss
    • Methods of Estimating Impairment Loss
    • Exercises for Adjusting Entries
    • Solutions to Exercises for Adjusting Entries
  • CHAPTER 25 PREPARING A WORKSHEET
    • Worksheet
    • Guidelines in Preparing a Worksheet
    • Option for Adjusted Trial Balance
    • Exercises for Worksheet Preparation
    • Solutions to Exercises for Worksheet Preparation
  • CHAPTER 26 PREPARING FINANCIAL STATEMENTS
    • Basic Financial Statements
    • Statement of Financial Performance formerly known as Income Statement
    • Guidelines in Preparing Income Statement
    • Exercises for Preparation of Income Statement
    • Solutions to Exercises for Preparation of Income Statement
    • Statement of Financial Position formerly known as Balance Sheet
    • Guidelines in Preparing Balance Sheet
    • Exercises for Preparation of Balance Sheet
    • Solutions to Exercises for Preparation of Balance Sheet
    • Statement of Changes in Owner’s Equity
    • Guidelines in Preparing Statement of Changes In Owner’s Equity
    • Exercises for Preparation of Statement of Changes in Owner’s Equity
    • Solutions to Exercises for Preparation of Statement of Changes in Owner’s Equity
  • CHAPTER 27 POST-STATEMENT ACCOUNTING PROCEDURES
    • Preparing for the Next Period
    • Closing the Nominal Accounts
    • Exercises for Closing Entries
    • Solutions to Exercises for Closing Entries
    • Post-Closing Trial Balance
    • Guidelines in Preparing Post-Closing Trial Balance
    • Exercises for Post-Closing Trial Balance
    • Solutions to Exercises for Post-Closing Trial Balance
    • Reversing Adjusting Entries
    • Exercises for Reversing Entries
    • Solutions to Exercises for Reversing Entries
    • Opening New Books

 

PART 4 BASIC BOOKKEEPING FOR MERCHANDISING OR TRADING BUSINESS (FOR SOLE-PROPRIETOR)

  • CHAPTER 28 JOURNALIZING
    • Merchandise Inventory
    • Recording Systems for Inventory
    • Recording Purchase-related Inventory Transactions
    • Purchases Account
    • Freight-in Account
    • Purchase Discounts Account
    • Purchase Returns and Allowances Account
    • Recording Sale-related Inventory Transactions
    • Sales and Freight Accounts
    • Sales Discounts and Sales Returns and Allowances Accounts
    • Sample Entries for Sales, Freight-out, Sales Discounts, and, Sales Returns and Allowances Accounts
    • Cost of Sales and Operating Expenses
    • Exercises in Journalizing
    • Solutions – Journalizing
  • CHAPTER 29 MONTH-END PROCEDURES
    • Posting
    • Preparing a Preliminary Trial Balance
    • Exercises in Posting and Preparing a Preliminary Trial Balance
    • Solutions to the Exercises in Posting and Preparing a Preliminary Trial Balance
  • CHAPTER 30 YEAR-END PROCEDURES
    • Adjusting Entries
    • Exercises for Adjusting Entries
    • Solutions to the Exercises for Adjusting Entries
    • Preparing Worksheet
    • Exercises in Preparing Worksheet
    • Solutions to the Exercises in Preparing Worksheet
    • Preparing Financial Statements
    • Exercises in Preparing Financial Statements
    • Solutions to Exercises in Preparing Financial Statements
    • Closing
    • Exercises in Closing
    • Solutions to Exercises in Closing
    • Post-Statement Accounting Procedures
    • Exercises in Post-Closing Trial Balance
    • Solutions to Exercises in Post-Closing Trial Balance
    • Reversing
    • Exercises in Reversing Entries
    • Solutions to Exercises in Reversing Entries
    • Opening of New Books

 

PART 5 INTRODUCTION TO SPECIAL JOURNALS, AND SUBSIDIARY LEDGERS, AND, BONUS ADDITIONAL BUSINESS TRANSACTIONS

 

REFERENCES

 

AUTHOR’S PROFILE

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