Financial Accounting Two: The Adjusting Entry Process And Creation Of Financial Statements

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This course is designed for those interested to learn the basics of adjusting entries in accounting and understand why it is a fundamental bookkeeping and accounting process, that helps significantly with the accrual concepts, how it focuses on timing differences, on when revenue and expense should be recognized.

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About This CourseBeginner

Adjusting entries, posting adjusting entries to a worksheet, financial statement creation from an adjusted trial balance, and reversing entries will be covered in this course. The adjusting entry process is a fundamental bookkeeping and accounting process but is often the accounting process most misunderstood.

The adjusting process is a necessary part of the accounting cycle and one that is built into the accounting system. In other words, we plan for the adjusting process, and part of the plan is to enter normal accounting transactions in such a way that we will most easily be able to make adjustments at the end of the time period.

The adjusting process helps significantly with the understanding of accrual concepts because the adjusting process focuses on timing differences, on when revenue and expense should be recognized.

By the end of the course, you’ll learn to use the adjusted trial balance to create the financial statements, converting the debit and credit format of the adjusted trial balance to the plus and minus format of the financial statements

Who is the course for

  • Accounting students
  • Business owner
  • Anyone who wants to learn accounting

Our Promise to You

By the end of this course, you will have learned the adjusting entry process in accounting.

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Get started today and learn more about accounting adjusting entry process and creating financial statements.

Course Curriculum

Course Sections

Adjusting Entry And Financial Statement Course Overview

Accounting Cycle, Types Of Adjusting Entries, Cash Vs Accrual Overview

Accounting Cycle Steps In The Accounting Process

Types Of Adjusting Journal Entries Adjusting Journal Entry

Cash Method Vs Accrual Method

Adjusting Entry Rules And Thought Process

Debits And Credits

Rules For Using Debits And Credits

Adjusting Journal Entry Rules – What Are Adjusting Journal

Why Use A Worksheet In Adjusting Process

Adjusting Journal Entry Thought Process How To Record

Supplies, Unearned Revenue, And Wages Adjusting Entries

Adjusting Entry Supplies

Adjusting Entry Unearned Revenue

Adjusting Entry Wages Payable

Worksheet – Adjusting Entries Supplies Unearned Revenue And Payroll Part 1 – Accounting Instructions

Worksheet – Adjusting Entries Supplies Unearned Revenue And Payroll Part 2 – Accounting Instructions

Accounts Receivable, Insurance, And Depreciation Adjusting Entries

Adjusting Entry Accounts Receivable

Adjusting Entry Insurance

Adjusting Entry Depreciation

Worksheet – Adjusting Entries Prepaid Insurance And Depreciation Part 1 – Accounting instructions

Worksheet – Adjusting Entries Prepaid Insurance And Depreciation Part 2 – Accounting instructions

Reversing Entries

Reversing Journal Entries – Accrued Revenue

Accounts Receivable Reversing Entry

Unearned Revenue Reversing Entry

Reversing Entry Wages Payable

Multiple Choice Questions Adjusting Entries

Financial Statements Overview

Balance Sheet

Income Statement

Statement Of Owner’s Equity

Create The Balance Sheet

Balance Sheet Current Assets From Trial Balance

Balance Sheet Property Plant Equipment From Trial Balance

Balance Sheet Liability Section Creation From Trial Balance

Balance Sheet Equity Section Creation From Trial Balance

Multiple Choice Adjusting Process

Test Questions Part 1 Adjusting Entries Adjusted Trial Balance And Creating

Create The Income Statement

Income Statement From Trial Balance

Multiple Choice Question

Test Questions Part 2 Adjusting Entries Adjusted Trial Balance And Creating

Create The Statement Of Owner’s Equity From The Trial Balance

Statement Of Equity From Trial Balance

Multiple Choice Adjusting Process

Financial Statement Relationship

Worksheet Financial Statements From Trial Balance

Test Questions Part 3 Adjusting Entries Adjusted Trial Balance And Creating

Comprehensive Problems

Accounting Financial – Comp Prob Service Co 1 – Part 1

Accounting Financial – Comp Prob Service Co 1 – Part 2

Accounting Financial – Comp Prob Service Co 1 – Part 3

Accounting Financial – Comp Prob Service Co 1 – Part 4

Accounting Financial – Comp Prob Service Co 1 Adjusting Entries – Part 5

Accounting Financial – Comp Prob Service Co 1 Adjusting Entries – Part 6

Accounting Financial – Comp Prob Service Co 1 Financial Statements – Part 7

Accounting Financial – Comp Prob Service Co 1 Financial Statements – Part 8

Downloadable Materials – Financial

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