What are the key points of the fourth edition of Accounting Fundamentals exam?

Accounting Summary Accounting Fundamentals Fourth Edition Exam Key Points:

1. Accounting Definition: Using currency as the main unit of measurement, with the help of specialized technical methods, the economic performance of a certain entity is measured. An economic service behavior process in which activities are confirmed, recorded, calculated, and reported, aiming to provide accounting information to relevant parties to support their judgment and decision-making.

2. Accounting functions: accounting and accounting supervision;

Accounting mainly uses monetary measurement, physical measurement, and labor measurement as a supplement; accounting: completeness, continuity, completeness ;

3. Accounting objects: only refers to economic activities, value movements, and capital movements that can be expressed in currency;

4. Accounting objectives: improve economic efficiency. Provide information users with useful information for decision-making;

5. Quality characteristics of accounting information: reliability, relevance (decision-making usefulness), understandability, comparability; substance over form, importance , prudence, timeliness;

6. Basic premise of accounting, accounting assumptions: accounting entity (accounting entity VS legal person), going concern, accounting period (accounting year (Gregorian calendar), currency measurement (currency value stable) ));

7. Accounting basis: accrual basis (for for-profit organizations), cash basis;

8. Accounting measurement - unit: physical measurement, labor Measurement, monetary measurement - basis (attribute): historical cost, replacement cost, net realizable value, present value, fair value;

9. Accounting methods: setting accounting subjects and accounts, double-entry accounting, Fill in and review vouchers, register account books, cost calculations, property inventory, and prepare financial accounting reports;

10. Accounting cycle: obtain or fill in original accounting vouchers - prepare accounting vouchers after review - post , that is, registering the contents of accounting vouchers into journals and ledgers. According to the amount recorded in the account book, the trial balance before adjustment is carried out - the end-of-period account adjustments are made - the accounts are closed, that is, the profit for the year is transferred to determine the current profit and loss, and the account balance of the owner's equity of assets and liabilities is settled at the same time, and transferred to Transferring from the next period to the next period - after adjusting the accounts at the end of the period, perform a trial balance - and prepare financial statements. Move to next issue.