Monday, January 14, 2008

Basic Accounting Review Guide

Over the next few weeks, I will be providing a review of some basic introductory accounting. This should help you in familiarizing yourself with what accounting is, how it is used, and how to do it. This guide will be a useful refresher for those that have not used accounting in a while, but is not intended to be a complete instruction tutorial.

(Note that much of the information I am discussing in this series of posts is borrowed from "Intermediate Accounting" by Kieso, Weygant, and Warfield.)

This is an outline of topics I intend to cover over the next series of blogs. As I finish future entries, I will come back to this entry and drop in links to those posts.

  • Introduction To Accounting
  • Useful Terminology
  • Debits & Credits
  • Basic Accounting Equation
  • The Accounting Cycle

    1. Journalizing
    2. Posting To The Ledger
    3. Trial Balance
    4. Adjusting Entries
    5. Adjusted Trial Balance
    6. Closing Process
    7. Post Closing Trial Balance & Reversing Entries
  • Work Sheet
  • Preparing Financial Statements
    1. Review Of The Elements of A Financial Statement
    2. Income Statement
    3. Statement of Retained Earnings
    4. Balance Sheet
  • Ethics in Accounting
  • Summary of Topics Covered

  • I will likely space out the posts regarding this Accounting Review with other topics in between days. I hope you will stick with me while I attempt to review the topic and teach you a bit about it. Hope to see you back here soon.
    ---------Sincerely, Trevor Stasik.

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