How well have the students learned the "Elementary Accounting Practice", and any things they don't understand in the process of learning Xi must be digested in time.
This Week's Learning Xi Highlights:Elementary Accounting PracticeChapter 2: Accounting Fundamentals (4).
1. Concept
1.Retest the bookkeeping method
Double-entry bookkeeping refers to a bookkeeping method that must be registered in two or more interrelated accounts with an equal amount for each economic transaction, and comprehensively and systematically reflects the changes in the increase or decrease of accounting elements. Including credit and debit accounting, increase and decrease accounting, receipt and payment accounting, etc.
2.Debit and debit accounting
Debit bookkeeping is a double-entry accounting method that uses "debit" and "credit" as accounting symbols.
[Reminder]:
"Debit" and "credit" are just a kind of accounting symbols and have no meaning;
China's accounting standards stipulate that enterprises, administrative units, and public institutions shall adopt the credit and debit accounting method for accounting.
2. The basic principle of debit accounting
1.The structure of the account under the debit bookkeeping method
Under debit accounting, the left side of the account is called the debit side and the right side is called the credit side. The debits and credits of all accounts record increases and decreases in opposite directions, i.e. one party registers an increase and the other registers a decrease.
Diagram: Account structure under debit and debit accounting).
Illustration: Structure and content of various types of accounts).
Accounts are set up according to accounting subjects, have a certain format and structure, and are used to reflect the changes in accounting elements and their results.
2.The bookkeeping rules of the credit and debit accounting method: there must be a loan if there is a loan, and the loan must be equal.
Any economic transaction takes place involving two or more related accounts, one or more accounts are debited and the corresponding account or accounts are credited, and the total amount credited to the debit account is equal to the total amount credited to the credit account.
3.Account correspondence and accounting entries under the debit bookkeeping method
(1) Account correspondence
It refers to the mutual relationship between the relevant accounts that should be debited and credited when each transaction or event is recorded by the credit and debit accounting method;Accounts that have a corresponding relationship are called corresponding accounts.
(2) Accounting entries
Abbreviated as an entry, it is a record of the name (account) and the amount of the account that should be borrowed and credited for each economic transaction.
Accounting entries are composed of three elements: the direction of borrowing and crediting, the corresponding accounts and their amounts.
4.Trial balance under the credit and debit accounting method
(1) Trial balance
It refers to a method to check whether the account records are correct by summarizing and comparing the amounts and balances of all accounts according to the bookkeeping rules of the debit accounting method and the identity relationship between assets and equity (liabilities and owners' equity).
(2) Preparation of trial balance
The trial balance is carried out by preparing a trial balance, which is simply a way to check whether the account records are correct by whether the amount of money borrowed is balanced.
If the amount or balance between the borrower and the borrower is equal, it means that the account records are basically correct, but some errors do not affect the balance between the borrower and the borrower.
[Reminder]:The trial calculation is unbalanced, which means that there must be an error in the bookkeeping;However, in the case of trial balance, it does not mean that the bookkeeping is necessarily correct.