4. Accounting Basics

  1. Daniel W. Halpin1 and
  2. Bolivar A. Senior2

Published Online: 25 AUG 2009

DOI: 10.1002/9780470548813.ch4

Financial Management and Accounting Fundamentals for Construction

Financial Management and Accounting Fundamentals for Construction

How to Cite

Halpin, D. W. and Senior, B. A. (2009) Accounting Basics, in Financial Management and Accounting Fundamentals for Construction, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9780470548813.ch4

Author Information

  1. 1

    Purdue University

  2. 2

    Colorado State University

Publication History

  1. Published Online: 25 AUG 2009
  2. Published Print: 2 SEP 2009

ISBN Information

Print ISBN: 9780470182710

Online ISBN: 9780470548813

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Keywords:

  • journalizing;
  • ledger;
  • accounting cycle;
  • transactions;
  • period

Summary

This chapter contains sections titled:

  • Introduction

  • Transaction Processing

  • Journalizing the Transaction

  • Posting Entries to the Ledger

  • Relationship of Work-in-Progress and Revenue/Expense Accounts

  • Closing the Accounting Cycle

  • Recognition of Income

  • Transactions during a Period

  • Posting to the General Ledger during the Accounting Period

  • Closing Actions at the End of the Period

  • Review Questions and Exercises