Ünite 2: Recording Process — Veri Tablosu

Accounting Concepts and Documents Comparison

Concept/Document	Primary Purpose	Key Characteristics	Timing of Recording
Journal	Chronological record of transactions	Book of original entry; shows complete dual effect of transactions	As transactions occur
Ledger	Track balances of specific accounts	Collection of all T-accounts; used for posting from journal	After journalizing
Trial Balance	Verify mathematical equality of debits and credits	Internal diagnostic tool; lists all account balances; does not prove total accuracy	End of accounting period
Accrual Basis	Reflect true economic activity and profitability	Follows revenue recognition and matching principles; more accurate	When earned/incurred, regardless of cash flow
Cash Basis	Track cash flows simply	Fails to reflect true economic activity; ignores non-cash transactions	Only when cash is received or paid
Adjusting Entries	Update accounts for accurate financial statements	Categorized into deferrals and accruals; ensures matching principle	End of accounting period