Unit Four
Accounting Cycle
(3) Adjustments
1 Explain how the matching concept relates to the accrual basis of accounting.2 Explain why adjustments are necessary and list the characteristic of adjusting entries.3 Journalize entries for accounts requiring adjustment.4 Summarize the adjustment process and prepare an adjustment trial balance.
一 accounting period → cash basis (received or paid)   accrual basis (earned or relate):   revenue recognition concept→ matching principleGAAP require the u ...