USING FINANCIAL ACCOUNTING INFORMATION is a user-oriented text known for its strong decision-making focus, and the incorporation of flagship companies within a more traditional, balance sheet organization. Transactions, which as presented in a spreadsheet (accounting equation) format, are used to help students gain a better conceptual understanding of their impact on financial information. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.The following logic is used to arrive at the rules for increasing and decreasing revenues:5 1. Retained ... Because revenue is increased with a credit, it is decreased with a debit. ... The rules for increasing and decreasing expense accounts are: 1. ... Because we will need to decrease them as part of the closing procedure, it is important to know how to reduce these accounts as well as increase them.
|Title||:||Using Financial Accounting Information: The Alternative to Debits & Credits|
|Author||:||Gary Porter, Curtis Norton|
|Publisher||:||Cengage Learning - 2007-02-21|