Intermediate Accounting Final - Study Guide Accounting Concepts and Assumptions 1. Economic Entity Concept - presumes that economic events can be identified specifically…
1. Chapter 3 Accrual AccountingConcepts 2. Learning ObjectivesAfter studying this chapter, you should be able to… Describe basic accrual accounting concepts, including…
Slide 1Adjusting Entries Slide 2 Definition Journal entries prepared to update the balances of certain accounts and subsequently record unrecognized accounts Prepared to…
Slide 1 STUDY OBJECTIVES After studying this chapter, you should understand: Time period assumptionAdjusting entries for prepayments Accrual basis of accountingAdjusting…