Chapter 3 — Analyzing and Recording Transactions

Chapter 3 Outline

3.0 Why It Matters

3.1 Describe Principles, Assumptions, and Concepts of Accounting and Their Relationship to Financial Statements

3.2 Define and Describe the Expanded Accounting Equation and Its Relationship to Analyzing Transactions

3.3 Define and Describe the Initial Steps in the Accounting Cycle

3.4 Analyze Business Transactions Using the Accounting Equation and Show the Impact of Business Transactions on Financial Statements

3.5 Use Journal Entries to Record Transactions and Post to T-Accounts

3.6 Prepare a Trial Balance

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