Financial Accounting, IFRS Edition: 2nd Edition

Subject Index

A

Accelerated-depreciation method, 418, 435

Account(s). See also specific accounts

chart of, 62–63, 76

defined, 76

and recording process, 52–57

separate, 220

Accounting, 2–31. See also specific headings

assumptions in, 9–10

careers in, 11, 29–31

defined, 28

ethics in, 6–7

purpose of, 4–5

standards for, 8

terminology, 28–29

users of accounting data, 5–6

Accounting cycle, 156–183

adjusting entries in, 159–161

closing entries in, 164–168

completion of, 206–207, 224–226

correcting entries in, 171–173

and equity, 178

financial statements in, 161–163

illustration of, 170–171

post-closing trial balance in, 168–170

reversing entries in, 171, 183–185

standards in, 206–207

statements of financial position in, 173–180

terminology, 183

worksheets in, 158–163

Accounting principle, 708, 713, 733

Accounting reports, 4

Accounts payable:

decrease in, 653

increase in, 633, 646

as liabilities, 12

in merchandising operations, 215

payment of, 19

Accounts Payable account, 633, 653, G2

Accounts payable subsidiary ledgers, G1, G19

Accounts receivable, 370–379

in accrual accounting process, 632

decreases in, 632–633, 645, 647

defined, 368, 388

disposing of, 376–379

in merchandising operations, 219–222

recognition of, 369

valuation of, 370–376

Accounts Receivable account, 632–633, G1, G3, G5

Accounts receivable subsidiary ledgers, G1, G19

Accounts receivable turnover ratio, 385, 388, 697–698, 712

Account titles, 58–59

Accruals:

adjusting entries for, 100–102, 109–114

defined, 122

of interest ...