Prepared by:

INDRI KARTIKA
SULTAN AGUNG ISLAMIC UNIVERSITY SEMARANG - INDONESIA

Pengertian
Merupakan suatu sistem yang terintegrasi untuk

menghasilkan informasi akuntansi mulai dari mengumpulkan data, menganalisis, mencatat, mengikhtisarkan dan menyajikan informasi akuntansi kepada pihak-pihak yang berkepentingan

Gambar proses/siklus Akuntansi

Bukti Transaksi Jurnal Buku Besar

Buku Pembantu

Laporan Keuangan

The Accounting Cycle

Transactions Evidents 9. Reversing entries 8. Post-closing trail balance 7. Closing entries 6. Financial Statements
Work Sheet Illustration 3-6

1. Journalization 2. Posting 3. Trial balance 4. Adjustments

5. Adjusted trial balance

LO 3 Identify steps in the accounting cycle.

Basic Terminology
Event Transaction Account Real Account Nominal Account Ledger Journal Posting Trial Balance Adjusting Entries Financial Statements Closing Entries

LO 1 Understand basic accounting terminology.

Real &nominal account

Real account

1. Assets 2. Liabilities 3. Equities Nominal Account 1. Revenues 2. Expenses

Debits and Credits

An Account shows the effect of transactions on a given asset, liability, equity, revenue, or expense account. Double-entry accounting system (two-sided effect). Recording done by debiting at least one account and crediting another. DEBITS must equal CREDITS.

LO 2 Explain double-entry rules.

Debits and Credits

If Debit entries are greater than Credit entries, the account will have a debit balance.

Account Name
Debit / Dr. Credit / Cr.

Transaction #1
Transaction #3 Balance

$10,000
8,000 $15,000

$3,000

Transaction #2

LO 2 Explain double-entry rules.

Debits and Credits Summary

Normal Balance Debit
Assets
Debit / Dr. Credit / Cr.

Normal Balance Credit

Liabilities
Debit / Dr. Credit / Cr.

Normal Balance

Normal Balance

Chapter 3-24

Equity
Debit / Dr. Credit / Cr.

Chapter 3-23

Expense
Debit / Dr. Credit / Cr.
Normal Balance

Chapter 3-25

Revenue
Debit / Dr. Credit / Cr.

Normal Balance

Chapter 3-27

LO 2 Explain double-entry rules.

Normal Balance

Debits and Credits Summary

Balance Sheet Income Statement + Equity

Asset

= Liability

Revenue

- Expense

Debit

Credit

LO 2 Explain double-entry rules.

Basic Accounting Equation

Relationship among the assets, liabilities and stockholders equity of a business:
Illustration 3-3

The equation must be in balance after every transaction. For every Debit there must be a Credit.
LO 2 Explain double-entry rules.

Ownership Structure
Ownership structure dictates the types of accounts that are part of the equity section.

Proprietorship or Partnership

Corporation
Common Stock Additional Paid-in Capital

Capital Account Drawing Account

Dividends Declared
Retained Earnings

LO 2 Explain double-entry rules.

Corporation Ownership Structure

Balance Sheet Stockholders Equity Common Stock
by stockholders) (Investment
Illustration 3-4

Retained Earnings

(Net income retained in business)

Dividends

Net income or Net loss

(Revenues less expenses)

Income Statement Statement of Retained Earnings

LO 2 Explain double-entry rules.

1. Journalizing
General Journal a chronological record of transactions. Journal Entries are recorded in the journal.
General Journal
Date Jan. 3 Account Title Cash Common stock 10 Building Note payable Ref. 100 300 130 220 150,000 150,000 Debit 100,000 100,000 Credit

LO 4 Record transactions in journals, post to ledger accounts, and prepare a trial balance.

2. Posting
Posting the process of transferring amounts from the journal to the ledger accounts.
General Journal
Date Jan. 3 Account Title Cash Common stock Ref. Debit 100,000 100,000

GJ1
Credit

100

General Ledger Cash

Date Explanation Ref. Debit

Acct. No. 100

Credit Balance

Jan. 3

Sale of stock

GJ1

100,000

100,000

LO 4 Record transactions in journals, post to ledger accounts, and prepare a trial balance.

3. Trial Balance
Trial Balance a list of each account and its balance; used to prove equality of debit and credit balances.
Acct. No. 100 105 110 130 200 220 300 330 400 500 Account Cash Accounts receivable Inventory Building Accounts payable Note payable Common stock Retained earnings Sales Cost of goods sold Debit $ 140,000 35,000 30,000 150,000 $ 60,000 150,000 100,000 75,000 30,000 $ 385,000 $ 385,000 Credit

LO 4 Record transactions in journals, post to ledger accounts, and prepare a trial balance.

Jurnal Penyesuaian (adjusting entries)

Mengapa diperlukan?

1. Penggunaan dasar waktu (accrual basis) 2. Pemisahan akun-akun yang bersifat campuran (nominal dan riil) pada akhir periode 3. Beberapa transaksi belum dicatat pada akhir periode

Objek jurnal penyesuaian

1.
2. 3.

4.
5. 6. 7.

Biaya Dibayar Dimuka Biaya Dibayar Di Belakang Pendapatan Diterima Dimuka Pendapatan Diterima Dibelakang Pencadangan Kerugian Piutang Pemakaian Persediaan Depresiasi Aktiva Tetap

6. Preparing Financial Statements

Financial Statements are prepared directly from the Adjusted Trial Balance.

Balance Sheet

Income Statement

Statement of Retained Earnings

Statement of Cash Flows

LO 6 Prepare financial statement from the adjusted trial balance.

Closing Entries
To reduce the balance of the income statement (revenue and expense) accounts to zero. To transfer net income or net loss to owners equity. Balance sheet (asset, liability, and equity) accounts are not closed. Dividends are closed directly to the Retained Earnings account.

LO 7 Prepare closing entries.

7. Closing Entries
Example:

Assume the following Adjusted Trial Balance

Account Cash Accounts receivable Building Note payable Common stock Retained earnings Dividends declared Sales Interest income Cost of goods sold Salary expense Depreciation expense Debit $ 140,000 35,000 190,000 $ 150,000 100,000 38,000 10,000 185,000 17,000 47,000 25,000 43,000 $ 490,000 Credit

Acct. No. 100 105 130 220 300 330 380 400 430 500 520 550

$ 490,000

LO 7 Prepare closing entries.

Closing Entries
Prepare the Closing journal entry from the adjusted trial balance on the previous slide.
Example:

Sales Interest income Income summary Income summary Cost of goods sold Salary expense Depreciation expense Income summary Retained earnings Retained earnings Dividends declared

185,000 17,000 115,000

202,000 47,000 25,000 43,000 87,000 10,000

87,000 10,000

LO 7 Prepare closing entries.

Post-Closing Trial Balance

Example

continued:
Account Cash Accounts receivable Building Note payable Common stock Retained earnings Dividends declared Sales Interest income Cost of goods sold Salary expense Depreciation expense Debit $ 140,000 35,000 190,000 $ 150,000 100,000 115,000 $ 365,000 Credit

Acct. No. 100 105 130 220 300 330 380 400 430 500 520 550

$ 365,000

LO 7 Prepare closing entries.

Reversing Entries
Reversing entries is an optional step that a company may perform at the beginning of the next accounting period.

LO 7 Prepare closing entries.