Review Chapter 1

PRINCIPLES
• Cost/ Historical cost
(Nguyên tắc giá gốc hay Giá vốn lịch sử)
• Revenue Recognition Principle
(Nguyên tắc ghi nhận doanh thu)
• Matching Principle
(Nguyên tắc phù hợp)
• Full Disclosure Principle
(Nguyên tắc công khai)
ASSUMPTIONS
• Going-Concern Assumption
Nguyên tắc tiếp tục hoạt động
• Monetary Unit Assumption
Nguyên tắc Thước đo tiền tệ
• Business Entity Assumption
Nguyên tắc thực thể kinh doanh
• Time Period Assumption
Nguyên tắc kỳ kế toán

ANALYZING TRANSACTIONS USING ACCOUNTING EQUATION:

Assets = Liabilities + Equity

= Liabilities + Contributed Capital + Retained Earnings
= Liabilities + (Owner, Capital – Owner, Withdrawals) + (Revenue – Expenses)
Chapter 2

ANALYZING AND RECORDINGTRANSACTIONS

NGUYÊN TẮC HẠCH TOÁN CÁC NGHIỆP VỤ CƠ BẢN

© 2009 The McGraw-Hill Companies, Inc.,

All Rights Reserved
 LEARNING OBJECTIVES
• Understand T-account, debits and credits
• Understand double-entry accounting
• Understand the process of recording transactions using
accounting books such as accounts, journal, ledger, trial
balance
• Prepare trial balance and financial statements
 TRANSACTION ANALYSIS
(Phân tích giao dịch)

From Chapter 01:

1. Which accounts affected? Accounts increased or
decreased and how much?
2. The accounting equation MUST remain in balance

Assets = Liabilities + Equity

Today in Chapter 02:

Debit and Credit: The accounting concept of increase and decrease

McGraw‐Hill/Irwin Slide 22
 History of
Accounting Debit and Credit Theory
• 1st used by Venetian merchants of Italy in the 15th
century Renaissance period
• 1st book: In Latin in 1494, translated in English in 16th
century
• Key theory for accounting that are used globally until
today
 T – ACCOUNT & DEBITS AND CREDITS

Account Title
(Left side) (Right side)
Debit (Nợ) Credit (Có)
Abbreviation: Dr. Cr.

REMEMBER!
• Debit and Credit: NOT increase or decrease, good or bad
• Only remember the unique meaning of Debit and Credit in accounting: Debit
is left and Credit is right
• Debit means increase for one account but decrease for another
 DEBITS AND CREDITS
• Account balance (số dư tài khoản)
 Debit balance: Total debit – Total credit > 0
 Credit balance: Total credit – Total debit > 0
 Zero balance: Total debit – Total credit = 0
• Normal balance: debit or credit side in which increases are
recorded

Account Title
(Left side) (Right side)
Debit (Nợ) Credit (Có)
Viết tắt: Dr. Viết tắt: Cr.
 DEBIT – CREDIT RULE
NGUYÊN TẮC GHI NỢ - CÓ
MEMORIZE!

Assets = Liabilities + Equity

ASSETS LIABILITIES EQUITY

Debit Credit Debit Credit Debit Credit

+ - - + - +

The rule is: Total amount debit = Total amount credit

McGraw‐Hill/Irwin Slide 12
 DEBIT – CREDIT RULE
NGUYÊN TẮC GHI NỢ - CÓ

MEMORIZE!

The rule is: Total amount debit = Total amount credit

 DOUBLE-ENTRY ACCOUNTING
(nguyên tắc ghi sổ kép)
• Each transaction:
o At lease two accounts involved
o Total amount debit = Total amount credit
• For all transactions: sum of all debits = sum of all credits
• Meaning: The accounting equation can remain in balance
ANALYZING AND RECORDING PROCESS
QUY TRÌNH GHI SỔ KẾ TOÁN

Step 2: Record relevant

Step 1: Analyze each
transaction and
event from source documents
using accounting equation
(Tập hợp chứng từ kế toán)
transactions
and events in a General journal
(Vào sổ nhật ký chung)

Step 4: Prepare and analyze Step 3: Post journal

the trial balance information to ledger
(Lập Bảng cân đối thử) accounts
McGraw‐Hill/Irwin
(Lên Sổ cái) Slide 2
 STEP 1: TRANSACTION ANALYSIS
(Phân tích giao dịch)

From Chapter 01:

1. Which accounts affected? Accounts increased or
decreased and how much?
2. The accounting equation MUST remain in balance

Assets = Liabilities + Equity

An account is a record of increases and decreases in a specific asset,

liability, equity, revenue, or expense item.
(Tài khoản kế toán: ghi chép sự tăng giảm của một loại tài sản, nợ, vốn
chủ sở hữu, doanh thu, chi phí cụ thể nào đó
McGraw‐Hill/Irwin Slide 22
 SOURCE DOCUMENTS
Chứng từ kế toán

Bills from
Checks Suppliers Purchase
Orders
Employee
Earnings
Records Bank
Statements

Contracts

McGraw‐Hill/Irwin Slide 3
 CHART OF ACCOUNTS
TÀI KHOẢN KẾ TOÁN

Current Assets Long-term assets

• Cash • Land
• Accounts Receivable • Building
• Merchandise Inventory • Equipment
• Office supplies • Vehicles
• Store supplies • Accumulated Depreciation – Building
• Prepaid Insurance • Accumulated Depreciation –
• Prepaid Rent Equipment
• Accumulated Depreciation – Vehicles
 CHART OF ACCOUNTS
Current Liabilities Stockholders' Equity
• Accounts Payable • Owner, Capital
• Salaries Payable • Owner, Withdrawals
• Notes Payable
• Unearned Revenue
• Revenue
Long-term Liabilities • Salaries expense
• Notes Payable • Insurance expense
• Rent expense
• Supplies expense
• Net income
 STEP 2: JOURNAL RECORDING
• Journal (sổ nhật ký chung):
 Records of all transactions in time order.
 Containing information of all accounts (because each transaction
affects at least than 2 accounts)
Sổ Nhật ký chung: ghi chép tất cả các nghiệp vụ kế toán (ảnh hưởng
đến nhiều tài khoản) theo trình tự thời gian
 STEP 2: JOURNAL RECORDING
a) Date of the transaction
b) Title of account(s) debited
Title of account(s) credited (indented from the left margin to
distinguish from debited accounts)
c) Debit amount = credit amount
d) Brief explanation
 STEP 3: LEDGER
• General ledger or ledger (sổ cái):
 Containing information of each account, including account name
and its balance.
Sổ Cái: theo dõi các nghiệp vụ phát sinh theo từng tài khoản kế toán, mục
đích để theo dõi về mặt giá trị, số dư cuối kỳ
STEP 3: LEDGER
 STEP 4: TRIAL BALANCE
• A list of ALL accounts and their balances at a point in time
• Used to confirm: sum of all debits = sum of all credits
• Financial statements will be prepared based on trial balance
CHAP 2 - Practice
• 1. Receive investment by Owner: FastForward receives $30,000 cash from
ChasTaylor as an owner contribution.
• 2. Purchase Supplies for Cash: FastForward pays $2,500 cash for supplies.
• 3. Purchase Equipment for Cash: FastForward pays $26,000 cash for
equipment.
• 4. Purchase Supplies on Credit: FastForward purchases $7,100 of supplies
on credit from a supplier.
• 5. Provide Services for Cash: FastForward provides consulting services and
immediately collects $4,200 cash
• 6. Payment of Expense in Cash: FastForward pays $1,000 cash for
December rent.
• 7. Payment of Expense in Cash: FastForward pays $700 cash for employee
salary.
• 8. Provide Consulting and Rental Services on Credit: FastForward provides
consulting services of $1,600 and rents its test facilities for $300. The
customer is billed $1,900 for these services.
CHAP 2 - Practice
• 9. Receipt of Cash on Account: FastForward receives $1,900 cash from the
client billed in transaction 8.
• 10. Partial Payment of Accounts Payable: FastForward pays CalTech Supply
$900 cash toward the payable of transaction 4.
• 11. Withdrawal of Cash by Owner: Chas Taylor withdraws $200 cash from
FastForward for personal use.
• 12. Receipt of Cash for Future Services: FastForward receives $3,000 cash
in advance of providing consulting services to a customer.
• 13. Pay Cash for Future Insurance Coverage: FastForward pays $2,400 cash
(insurance premium) for a 24-month insurance policy. Coverage begins on
December 1.
• 14. Purchase Supplies for Cash: FastForward pays $120 cash for supplies
• 15. Payment of Expense in Cash: FastForward pays $230 cash for
December utilities expense
• 16. Payment of Expense in Cash: FastForward pays $700 cash in employee
salary for work performed in the latter part of December.
CHAP 2 - Practice
 JOURNALIZING AND POSTING PROCESS
QUY TRÌNH HẠCH TOÁN

Assets = Liabilities + Equity

T- Account
(Left side) (Right side)
Debit Credit

Step 1: Analyze Step 2: Analyze transactions using

transactions and source accounting equation and double-
documents. entry accounting

GENERAL JOURNAL Page 123

ACCOUNT NAME: ACCOUNT No.
Post.
Date Description Ref. Debit Credit
Date Description PR Debit Credit Balance

Step 4: Post entry to ledger Step 3: Record journal entries

McGraw‐Hill/Irwin Slide 15
(journalizing)
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
ANALYZING, JOURNALIZING AND
POSTING TRANSACTIONS
 TRIAL BALANCE
• 3-step preparation:
o List each account title and its amount from the ledger
o Compute the total of debit balances and credit balances
o Verify if total debits = total credits
• If the trial balance does not balance, identify errors by checking the
journalizing, posting and trial balance preparation in reverse order.
 USING A TRIAL BALANCE
TO PREPARE FINANCIAL STATEMENTS
• Note: The trial balance and corresponding financial statements are
unadjusted (Chapter 3 will discuss the necessary adjustments)
• Length of time that the financial statements report: normally one year
or fiscal year.
E.g: A fiscal year ending 31 December or 31 March
 USING A TRIAL BALANCE
TO PREPARE FINANCIAL STATEMENTS
 USING A TRIAL BALANCE
TO PREPARE FINANCIAL STATEMENTS
 USING A TRIAL BALANCE
TO PREPARE FINANCIAL STATEMENTS
 REVIEW
Remember after Chapter 2:
• Debit and credit theory; T-accounts
• Recording process: journal, ledger, trial balance
• Debit and Credit rules for Assets, Liabilities and Equity
• Know how to journalise and post each transactions, and how to
compute balances for each account
• Know how to construct a trial balance
 TÀI KHOẢN LƯỠNG TÍNH
• Tài khoản kế toán lưỡng tính là những tài khoản được phép
có số dư cuối kỳ bên Nợ hoặc cũng có thể có số dư cuối kỳ
bên Có. Trong khi các tài khoản khác chỉ được được phép
Nợ hoặc dư Có hoặc không có số dư cuối kỳ
• Bao gồm:
o TK 131: Phải thu của khách hàng
o TK 138: Phải thu khác
o TK 331: Phải trả cho Người bán
o TK 334: Phải trả cho Người lao động
o TK 333: Thuế và các khoản phải nộp Nhà Nước
o TK 338: Phải trả khác
 TÀI KHOẢN LƯỠNG TÍNH
• a) Những loại TK tài sản (Tài khoản đầu 1) chỉ có số dư bên
nợ nhưng tài khoản (131 – phải thu của khách hàng, 138 –
phải thu khác) lại có số dư bên Có khi:
o Cấn trừ công nợ (TK 131)
o Số tiền thu thừa của đối tượng đang chờ xử lý (TK 138)
Nếu có số dư bên Có thì trình bày trên bảng Cân đối kế toán ở
phần nguồn vốn. Nếu có số dư bên Nợ thì trình bày trên bảng cân
đối kế toán ở phần Tài sản.
• b) Những tài khoản Nguồn vốn (TK đầu 3) thường chỉ có số
dư bên có nhưng những TK như ( 331, 333, 334, 338) lại có
số dư bên Nợ khi:
o Trả tiền thừa tiền cho nhà cung cấp (TK 331)
o Kiểm kê phát hiện thừa hàng hóa (TK 338).
Nếu có số dư bên Nợ thì trình bày trên Bảng cân đối kế toán phần
Tài sản. Nếu có số dư bên Có thì trình bày trên Bảng cân đối kế
toán phần Nguồn vốn.
 TÀI KHOẢN LƯỠNG TÍNH
• Ví dụ 1: cấn trừ công nợ
A mua của B sắt thép: 105trđ;
A bán cho B xi măng: 157,5trđ.
Hai bên thông nhất bù trừ tiền hàng cho nhau B phải trả cho A
là: 157,5 – 105 = 52,5 (trđ)
Doanh nghiệp A hạch toán như sau:
1. Hạch toán mua sắt:
Có TK 331: 105(chi tiết công nợ phải trả cho DN B)
2. Hạch toán nghiệp vụ bán xi măng:
Nợ TK 131: 157,5 (Chi tiết công nợ phải thu cho DN B)
3. Căn cứ hợp đồng hoạch toán bù trừ công nợ:
Nợ TK 331: 105
Có TK 131: 105
 END OF CHAPTER 2

McGraw‐Hill/ Slide 38