Lecture Accounting: What the numbers mean (10/e): Chapter 5 - Marshall, McManus, Viele

Chapter 5 - Accounting for and presentation of current assets. After reading this chapter, you should be able to answer the following questions: What is included in the cash amount reported on the balance sheet? What are the features of an internal control system, and why are internal controls important? What is the bank reconciliation procedure? . | 2008 The McGraw Hill Companies Inc. All Rights Reserved. McGraw Hill Irwin Copyright 2014 by The McGraw Hill Companies Inc. All rights reserved. Chapter 5 Accounting for and Presentation of Current Assets PowerPoint Authors Susan Coomer Galbreath . CPA Charles W. Caldwell . CMA Jon A. Booker . CPA CIA Cynthia J. Rooney . CPA McGraw Hill Irwin Copyright 2014 by The McGraw Hill Companies Inc. All rights reserved. 1-3 What are Current Assets Current assets include cash and those assets that are expected to be converted to cash or used up within one year or an operating cycle whichever is longer. Cash Current Assets include Short-term Prepaid Securities Expenses Accounts and Notes Receivable McGraw Hill Irwin 5 3 2008 The McGraw Hill Companies Inc. All Rights Reserved. 1-4 LO 1 Cash Coins and Checking paper accounts money Cash Includes Petty cash Money orders funds Undeposited receipts McGraw Hill Irwin 5 4 2008 The McGraw Hill Companies Inc. All Rights Reserved. 1-5 LO 2 The Internal Control System Internal control objectives are to ensure 1. Effective and efficient operations. 2. Reliable financial reporting. 3. Compliance with applicable laws and regulations. Internal Control Over Cash Internal Control Over Cash Require daily deposits. Require daily deposits. Make all payments by check. Make all payments by check. Promptly reconcile bank statements. Promptly reconcile bank statements. McGraw Hill Irwin 5 5 2008 The McGraw Hill Companies Inc. All Rights Reserved. 1-6 LO 3 Bank Reconciliation Objective Identify Differences Between Ending cash balance reported on bank statement Compared to Ending cash balance in depositor s accounting records. Provides information for adjusting journal entries. McGraw Hill Irwin 5 6 2008 The McGraw Hill Companies Inc. All Rights Reserved. 1-7 LO 4 Short-term Marketable Securities Capital Bond Stock Investments Investments Marketable Securities are . . . Readily Current Assets Marketable Almost As Liquid As Cash McGraw

Không thể tạo bản xem trước, hãy bấm tải xuống
TÀI LIỆU MỚI ĐĂNG
292    4    1    29-03-2024
Đã phát hiện trình chặn quảng cáo AdBlock
Trang web này phụ thuộc vào doanh thu từ số lần hiển thị quảng cáo để tồn tại. Vui lòng tắt trình chặn quảng cáo của bạn hoặc tạm dừng tính năng chặn quảng cáo cho trang web này.