【2018年必威体育精装版整理】实用会计英语.pptVIP

What is Chart of Account Title ? Chart of Account Title What are the types of accounts ? §2.1 Accounting Title and Accounts What is Chart of Account Title ? A chart of account title is simply a list of your accounts and is kept by every business to record and follow specific entries. Chart of Account Title There are two parts in the chart of account title. One is account numbers, the other is account titles. Account numbers Account Title 1001 Cash 1002 Cash in bank 100201 Cash in bank – Agricultural Bank of China What is an Account ? An account is the basic storage unit for data in accounting for business transactions. There are separate accounts for the items we used in transactions such as cash, salaries expense, accounts payable, etc. Three parts : 1) the Title of the account 2) a left or Debit side 3) a right or Credit side The alignment of these parts resembles the letter T = T account TITLE DEBIT CREDIT What is an Account ? If the greater sum is on the left, the account has a Debit Balance. Total Debits Total Credits TITLE Debit Credit Total the Entries to Each Side If the greater sum is on the right, the account has a Credit Balance. Total Debits Total Credits TITLE Debit Credit Total the Entries to Each Side What are the Types of Accounts ? General Ledger Accounts The general ledger is a summary of all of the transactions that occur in the company. What are the Types of Accounts ? Subsidiary Ledger Accounts Each subsidiary ledger account (SL) is identified with a general ledger account (GL) through use of an attribute known as the account number. There are two possible types of GL/SL relationships. One GL to One SL One GL to Many SLs §2.2 Accounting Elements and Accounting Equation Accounting Elements Accounting Equation Accounting Elements Accounting elements are a basic classification of accounting objectives, and embody the object of accounting practices. Accounting Elements Liabilities Owners