After the access of financial operation which documents evidencing indirect and direct as already explained is then analyzed for accounts that have been affected by the financial process that took place.
The analysis of the financial process steps:
Select accounts that have been affected by the process.
Identify the type of account, whether it is from within the assets, liabilities, property rights, 3,960,200, expenses.
Select the account in the debtor party account, which the creditor party.
The preparation of the accounting entry.
In this lesson we will explain the point first, second, third and fourth point will be explained in the next lesson.
The definition of the Account
Account can be defined as the register or bowl containing inside all the financial movements that have affected after the analysis of the financial operation, for example, if the established process of the sale of goods worth $1000 got the value in cash, when analysing the financial process, we will find that it contains two accounts, a special account for sales increased the value of $1000 cash account (the Fund) has increased the value of $1000, we conclude the following: the
extraction of auditors after the analysis of the financial process.
The financial process and have at least two accounts, one of the so-called a debtor and a creditor called.
The classification of accounts
there are several classifications of audit, the more these classifications accepted that accounts are divided into five groups as follows:
accounts represent all assets owned by the established economic resources and assets, and is divided into several sections as follows:
assets (Short Term):
Those assets owned by the established in the form of cash or expected to be converted into cash during the subsequent financial period, such as the World Bank and the Fund cash, receivables, goods, arrest papers (bills) and other.
Fixed assets (Long Term): The
assets owned by the committee established for the purpose of assisting the Committee in its activities and use for several years or several subsequent financial periods, and the target of the acquisition is for resale, such as land and buildings, machinery and equipment, furniture and other.
Intangible assets (Long Term):
Those assets owned by the enterprise that lacks tangible physical entity, such as the famous shop, trademark, patent and other rights.
Other assets balances:
It represents all والمبالع obligations owed by the treaty, and is divided into short-term obligations and long-term commitments as follows:
Obligations of the treaty paid during the subsequent financial period (less than one year), such as PAYABLES, short-term loans, payment papers (Bill) and others.
commitments to established paid during the subsequent financial periods (more than a year).
Property rights: the
accounts that represent the obligations established the direction of owners (partners), as the head of the Pain