MINISTRY OF FINANCE General Directorate of Public Accounts. GOVERMENT ACCOUNTING March 200 3 , Ankara. AGENDA Clarification of General government sector (GG) The Current Government Accounting System (GAS) say2000i Project for consolidated budgetBy nishi
MINISTRY OF FINANCE General Directorate of Public Accounts. GOVERMENT ACCOUNTING March 200 3 , Ankara. AGENDA Clarification of General government sector (GG) The Current Government Accounting System (GAS) say2000i Project for consolidated budgetBy mickeyn
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Accrual Accounting. Class Announcements. Assignment #3 due January 27th; available on-line Assignment #4 due February 3rd Next class (January 27 th) Research Paper (in Lab SCHW 252 for both sections 9:00-9:45am) ; Guest: Rita Campbell , Liaison Librarian, Business Administration
Accrual Accounting. Presented by Campus Services. Overview:. Accounting standards GAAP Principle Accounting Methods What is accrual Accounting? Why does this matter? Accruals entries Examples. Accounting Standards.
ACCRUAL ACCOUNTING. Presented by Campus Services. ACCRUAL ACCOUNTING. WELCOME!!! Valerie Monahan Heidi Barclay. Accounting Methods. All organizations must choose an accounting method for financial reporting purposes. Accounting Methods. What is an accounting method?
Accrual Accounting. By P. Raghava Narayana Chartered Accountant. ACCRUAL Records business transactions when they occur When sale is made When bill is received Complies with GAAP Presents accurate financial picture. CASH Records transactions only when cash is received or paid
Accrual Accounting. Accounting that records the impact of a business event as it occurs regardless of whether the transaction affected cash. Accrued Expense. An expense that the business has incurred but not yet paid. Accrued Revenue.
Accrual Accounting Concepts. Accounting, Third Edition. Timing Issues. Accountants divide the economic life of a business into artificial time periods ( Time Period Assumption ). . . . . . Jan. Feb. Mar. Apr. Dec. Generally a month , a quarter , or a year .
CHAPTER. Accrual Accounting Concepts. 4. Time Period Assumption. Divides the economic life of a business into artificial time periods Interim period (month, quarter) Year (fiscal, calendar) WHY? To provide immediate feedback on how the business is doing. Revenue Recognition Principle.
ACCRUAL ACCOUNTING CONCEPTS. 4. Financial Accounting , Sixth Edition. Study Objectives. Explain the revenue recognition principle and the expense recognition principle. Differentiate between the cash basis and the accrual basis of accounting.
Cash Accounting VS Accrual Accounting. Revision. Solutions to the cross - word. Cash accounting. Cash accounting / cash basis Accountants record transactions... when cash is paid, or when cash is received, regardless of when a revenue is earned or an expense is incurred.