This document provides an overview of a project on accounting principles for Deraya University. It discusses chapters on accounting information and the recording process, adjusting accounts, and completing the accounting cycle. It also describes the accounting system of Ottimo Restaurant, including key financial statements, reports, users, and accounts in its general ledger.

1. Arowwai Industries
2022-
2023
DERAYA UNIVERSITY
project in Accountingprinciples

2. Mohamed Rabea Azmy
Zyad bahaa mostafa
Alaa Mohsen fatoh
Radwa saed nasr
Rania taher khairy
Veronia ehab said
deraya university

3. Professor Dr Khaled hamdy
The project is supervised of
Dr M o h a m e d hussin
deraya university

4. CHAPTER 1
Accounting information and
decision making
deraya university

5. 1 Definition of accounting Identify
Record
communicate
2 Internals & Externals
3 Generally accepted accounting principles cost principles
fair value principles
4 The main assumption of accounting
5
monetary unit
economic entity
The accounting equation Assets =liabilities +owner's equity

6. 6 Components of the accounting equation Assets
liabilities
owner's equity
7 The four financial statements income statement
owner's equity statement
balance sheet
cash flow

7. deraya university
CHAPTER 2
The Recording process

8. 1
The Account
2
3
Dr.
acc. title
cr.
The Accounting Cycle used to record, classify and summarize transactions
4 Steps in the recording process
Debits and credits
Analyze each transaction for its effects on the
accounts.
Enter the transaction information in a journal.
Transfer the journal information to the
appropriate accounts in the ledger.

9. 5 The Journal
General journal
date Acc. title Ref Dr. Cr.
General ledger
date Acc. title Ref Dr. Cr. balance
6 The Ledger
Acc.title
Dr. Cr.

10. 7 The Trialbalan ce
Company
Name
Trial balance
date
Acc. title Dr. Cr.

11. CHAPTER 3
Adjusting the Accounts
Deraya university

12. 1
2
3
4
The periodicity assumption.
The major types of adjusting entries.
The adjusting entries.
The difference between the cash basis and the accrual
basis.

13. 5
6
7
The Deferrals.
The Accruals.
The adjusted trial balance.
• Accrued Revenue: Revenues earned buy not yet received in cash or
recorded.
• Accrued Expenses: Expenses incurred buy not yet paid in cash or
recorded.
• Prepaid Expenses: Expenses paid in cash before they are used or consumed.
• Unearned Revenue: Cash received before revenue is earned.

14. deraya university
CHAPTER 4
Completing the Accounting Cycle
Closing and Correcting Entries

15. 1
2
3
Preparing worksheet
The process of closing the books
The difference between temporary accounts and permanent
accounts

16. 4
5
Preparing a post-closing trial balance
The Accounting Cycle
1.Analyze business
transactions
2.Journalize the
transactions
3.Post to ledger
accounts
4.Prepare a trial
balance
5.Journalize and
post adjusting
entries: deferrals -
accruals
6.Prepare an
adjusted trial balance
7.Prepare financial
statements:Income
statement Owner's
equity statement
Balance sheet
8.Journalize and
post closing entries
9.Prepare a post-
closing trial balance

17. 6
7
Preparing Correcting Entries
The sections of a classified balance sheet

18. deraya university
Ottimo restaurant
Deraya Square, New Minya, Menia Governorate
2460271
Sole proprietorship company
Service activity

19. owner's equity
THE ACCOUNTING SYSTEM
The fiscal period begins on January 1 and ends on December 31
The electronic accounting system provides many reports such as:
income statement
sales report
Expense report
deraya university
income statement
stock report

20. About Users
Internal users
deraya university
•Owners
•Managers
•Directors of Accounting
•Directors of Marketing

21. About Users
External users
• Taxauthority
• Suppliers
• Creditors

22. Financial
Statements
Income statement
How much profit is being
earned ?
What resources are
available?
Balance sheet

23. A B O U T R E P O R T S A N D A C C O U N T S
Revenue Report
to estimate the income received by
the organization in total on the one
hand, or in detail (by table or
branch, for example)
The most important reports and documents
Daily Sales Report
Top-selling and least-selling items
Number of daily visitors during
the week and across the hours of
the day
P&L Report
sales, costs, and profits
for the period you specify. Using this,
management decisions can be made according
to where the greatest profits are or where waste
occurs.
deraya university

24. Asset accounts:
These accounts include
the stock account and the
equipment and furniture
account
Liabilities Accounts:
These accounts include
the Payable Account and
the Payable Salaries and
Wages Account
Owner's equity accounts:
These accounts include the
owner's capital
The most important accounts in the accounts structure or ledger
and their classifications
deraya university

25. THANK YOU
deraya university