Contents
Feature Story: Knowing the Numbers
The Building Blocks of Accounting
Generally Accepted Accounting Principles
APPENDIX 1A Accounting Career Opportunities
Chapter 2The Recording Process
Feature Story: Accidents Happen
Steps in the Recording Process
The Recording Process Illustrated
Summary Illustration of Journalizing and Posting
Limitations of a Trial Balance
Chapter 3Adjusting the Accounts
Feature Story: Keeping Track of Groupons
Accrual- vs. Cash-Basis Accounting
Recognizing Revenues and Expenses
The Basics of Adjusting Entries
Adjusting Entries for Deferrals
Adjusting Entries for Accruals
Summary of Basic Relationships
The Adjusted Trial Balance and Financial Statements
Preparing the Adjusted Trial Balance
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