The On Demand Global Workforce - oDesk

Wednesday, August 31, 2011

Amar Shopnera aj Oshohay

Dikbistritho Digonte, Jhoru hawayi
Bose asi eka , Tepantorer pothe
Ronghin akash , r
megheder durlob lukuchuri
Klanto , Visinno , Obosadgrostho, ai ami
Dushor bikele ekaki
Sudu ekta kotha e ase bolar
amar shopnera aj oshohay.

Ronghin alukbelay , Nistobdo nogorithe
Vurer prothom prohore
Ekaki sunno rstay hatthe hatthe
Ektu abese, Moner kune
Vese uthe fele asa Rongin Sopnoguli
Ja aj hoye geche Ronghin,
Amar kche.

 Sesh rather ai rajpothe
Chitkar kore bolte icche kore
Tumra ki paro na, amar sopnogulu k
   firye dite.
 ki luv? k sunbe amar chitkar .
Tobu hete jai pothe , Kakdaka vure
Sohorer oligolite
Ronigin kunu asay.
Jani pabo na kichu e.
Amar Sopno gulu aj Oshohay.


Monday, August 29, 2011

The Accounting Process

Part-A
Brief Questions
4th part

25.What is General Journal?
Ans:The most basic form of journal.

26.What is Journalizing?
Ans:The entering of transaction data in the journal.

27.What is Posting?
Ans:The procedure of transferring journal entries to the ledger accounts.

28.What is simple entry?
Ans:A journal entry that involves only two accounts.

29.What is T-account?
Ans:The basis form an account.

30.What is Ledger?
Ans:The entries group of accounts maintained by a company.

31.What is general ledger?
Ans:A ledger that contains all assets,liability,and owner's equity accounts.

32.What is Three-column form of account?
Ans:A form with columns for debit,credit and balance in an account.

Saturday, August 27, 2011

The Accounting Process

PART-A
Brief Questions
3rd Part

17.What is transactions?
Ans:The economic events of an enterprise that are recorded by accountants.

18.What is Account?
Ans:A record of increases and decreases in specific asset, Liability, or owner's equity items.

19.What is Chart of accounts?
Ans:A list of accounts and the account numbers that identify their location in the ledger.

20.What is Compound entry?
Ans:A journal entry that involves three or more accounts.

21.What is Credit ?
Ans:The right side of an account.

22.What is Debit ?
Ans:The left side of an account.

23.What is Double-entry system?
Ans:A system that records in appropriate accounts the dual effect of each transaction.

24.What is Journal?
Ans:An accounting recorded in which truncations are initially recorded in chronological order.  

The Accounting Process

  • Part-A
  • Brief Questions
  • 2nd Part
9.What is investments by owner ?
Ans:The assets put into the business by the owner.

10.What do you mean by Monetary unit assumption?
Ans:An assumption stating that only transaction data that can be expressed in terms of money be included in the accounting records.

11.What is net income ?
Ans:The amount by which revenues exceed expenses.

12.What is net loss?
Ans:The ownership claim on total assets.

13.What is owner equity?
Ans:The ownership claim on total assets.

14.What is Owner's equity ?
Ans:A financial statement that summarizes the changes in owner's equity for a specific period of time.

15.What do you mean by Proprietorship?
Ans:A business owned by one person.

16.What is Revenues?
Ans:The gross increase in owner's equity resulting from business activities entered into for the purpose of earning income.

The Accounting Process

  • PART-A
  • Brief Questions
  • 1st Part

1.Double Entry System is a
Ans:Recording System.

2.What is a Assets?
 Ans:Resources owned by a business.

3.What is Liabilities?
Ans:Creditors and owner's claims on total assets.

4.What do you mean by Drawings?
Ans: Withdrawal of cash or other assets from business for the personal use of the owners.

5.What is Balance Sheet?
Ans:A financial statement that reports the assets,liabilities,and owner's equity at a specific date.

6.What do you mean by economic entity assumption ?
Ans:An assumption that requires that the activities of the entity be kept separate and distinct from the activities of its owner and all other economic entities.

7.What is Expenses ?
Ans:The cost of assets consumed or services used in the process of earning revenue.

8.What is Income statement ?
Ans: A financial statement that presents the revenues and expenses and resulting net income or net loss of a company for a specific period of time.

Friday, August 26, 2011

Conceptual Framework for Financial Accounting

  • PART-A
  • Brief Questions
  • 7th Part
45.Presented below is a chart of the qualitative characteristics of accounting information. Fill in the blanks from (a) to (e).

(a)Relevance, (b)Timely, (c)Usefulness/Comparability, (d)Reliability, (e)Neutral,
Ans: (a)Predictive value, (b)Feedback value, (c)Consistency, (d)Verifiable, (e)Faithful.

46.Given the qualitative characteristics of accounting established by the FASB's conceptual framework , complete each of the following statements .
(a)_____________ is the quality of information that gives assurance that it is free of error and bias; it can depended on
(b)_____________ means using the same accounting principles and method from year to year within a company.
(c)For information to be ________, it should have predictive or feedback value and it must be presented on a timely basis.
Ans: (a)Reliability, (b)Consistency, (c)relevant.

47.Presented below is a set of qualitative characteristics of accounting information:
1.Predictive value                         2.Neutral.
3.Verifiable                                  4.Timely.
(a)_______________ Accounting information should help users make predications about the outcome of future events.
(b)_______________Accounting information be selected,or presented to favor one set of interested users over another
(c)_______________Accounting information must be proved to be free or error and bias.
(d)_______________Accounting information must be available to decision makers before it loses its capacity to influence their decisions.
Ans:(a)1 (b)2 (c)3 (d)4.

48.Presented below are four concepts discussed in this chapter
1.Time period assumption.
2.Cost Principle.
3.Full disclosure principle
4.Conservatism.
Match these concepts to the  following accounting practices.Each number can be used only once
(a)__________Recording inventory at its purchase price
(b)__________ Using notes and supplementary schedules in the financial statements.
(c)__________ Preparing financial statements on an annual basis.
(d)__________Using the lower of cost or market method for inventory valuation.
Ans: (a)1. (b)2. (c)3. (d)4.


Friday, August 19, 2011

Conceptual Framework for Financial Accounting

Part-A
Brief Questions
6th Part

41.The accounting constraint that means that when in doubt the accountant should choose the method that will be least likely to overstate assets and income is called...............?
Ans:Conservatism.

42.The organization that issues International Accounting Standards in the
a.Financial Accounting Standards Board .
b.International Accounting Standards Board.
c.International Auditing Standards Committee.(Ans)
d.None of the above.
Ans:B. Because International Accounting Standards Board (IASB) issues International Accounting Standards(IAS).

43.Indicate whether each of the following statements is true or false.
(a)'Generally Accepted' means that these principles must have "substantial authoritative support"
(b)GAAP is a set of rules and practices established by the accounting profession to serve as a general guide for financial reporting purposes
(c)Substantial authoritative support for GAAP usually comes from two standard-setting bodies: the FASB and the IRS.
Ans: (a) True  (b)True (c)False.

44.According to the FASB's conceptual framework,which of the following are objectives of financial (Use 'yes' or 'No' to answer this question.)
(a)Provide information that identifies the economic resources(assets),the claims to those resources (liabilities) and the changes in those resources and claims.
(b)Provide information that is helpful in assessing past cash flows and stock prices.
(c)Provide information that is useful to those making investment and credit decisions. 

Conceptual Framework for Financial Accounting

Part-A
Brief Questions
5th Part

33.What bodies provide authoritative support for GAAP?
Ans:International Accounting standard Committee IASC (International Accounting standard Board-IASB) Financial Accounting Standard Board of U.S.A and Securities  and Exchange Commission-SEC.

34.Accounting Principles (________________________)
Ans:Often change to meet the needs of emerging and changing financial condition.

35.The accounting principle based on which fixed asset is shown in the Balance sheet is_______.
Ans:historical cost.

36.Fixed assets are recorded according to which accounting principle?
(a)Market Price.
(b)Full disclosure
(c)Consistency.
(d)Historical cost. -->> (ANS.)
(e)Conservatism.

37.For valuation of closing stock,'cost or market price' whichever is lower is taken-this indicates which of the principle?
(a)Cost principle.
(b)Consistency principle.
(c)Conservatism principle.--->>(ANS)
(d)Full disclosure principle.
(e)Liquidity principle.

38.The relationship among assets,  liabilities and capital is expressed in the form of:
(a)Dual Aspect.
(b)Balance Sheet.
(c)Accounting Equation--->> (ANS)
(d)Debit and Credit.
(e)None of the above.

39.Valuing assets at their Liquidation value rather than their cost is inconsistent with the __________.
a. Time period assumption.
b. Matching principle.
c. Going concern assumption.
d. Materiality constraint.

40.What is meant by full disclosure principle?
Ans:Full disclosure principle states that all events should be fully disclosed in financial reporting.

Wednesday, August 17, 2011

Conceptual Framework for Financial Accounting

Part-A
Brief Questions
4th Part

25.Indicate which of the following items is (are) included in the FASB's conceptual framework.(Use 'yes' or 'No'  to answer this question.)
(a) Qualitative characteristics of accounting information.
(b)Analysis of financial statement ratios
(c)Objectives of financial reporting.
Ans: (a) Yes (b)No (c) Yes.

26.What are the objectives of financial Reporting?
Ans:(a)Useful in making investment and credit decision.
       (b)Helpful in assessing future cash flows
       (c)Economic Resources (Assets,Claims etc).

27.Which of the following is not an objective of financial reporting?
     (a)Provide information that is useful in investment and credit decisions.
     (b)Provide information about economic resources,claims to those resources and changes in them.
     (c)Provide information that is useful in assessing future cash flows.
     (d)Provide information on the liquidation value of a business.(ANS)

28.Identify the Qualitative Characteristics of Accounting Information.
Ans:Primary Qualities:Relevance & Reliability.
       Secondary Qualities:Comparability & Consistency.

29.The primary criterion by which accounting information can be judged is
(a)Consistency;
(b)Predictive Value;
(c)decision-usefulness; (ans)
(d)comparability.
Ans:Because, decision-usefulness is a primary criterion of accounting information.

30.Verifiability is an ingredient of:_____________________________
                                  Reliability                                                Relevance
a.                                 Yes                                                           Yes
b.                                 No                                                           No
c.                                Yes                                                            No
d.                                 No                                                           Yes
Ans:c. Because,reliability contains verifiability.

31.The standard that is used in making financial statements universally acceptable is:
Ans:GAAP.

32.What is meant by Generally accepted accounting principles?
Ans:A set of standards and rules that are recognized as a general guide for financial reporting.


Monday, August 15, 2011

Conceptual Framework for Financial Accounting

Part-A
Brief Questions
3rd Part

17.What is percentage of completion method?
Ans:A method of recognizing revenue and income on a construction project on the basis of costs incurred during the period on the basis costs for the entire project.

18.What is Relevance?
Ans:The quality of information that indicates the information makes a difference in a decision.

19.What is revenue recognition principle?
Ans:The principle that revenue should be recognized in the accounting period in which it is earned (generally at the point of sale)

20.What is Time period assumption?
Ans:The assumption that the economic life of a business can be divided into artificial time periods.

21.What is Financial Accounting Standards Board (FASB)?
Ans:A private organization that establishes generally accepted accounting principles.

22.What is Generally accepted accounting principles(GAAP)?
Ans:Common standards that indicate how to report economic events.

23.What is Securities and Exchange Commission (SEC)?
Ans:A governmental agency that requires companies to file financial reports in accordance with generally accepted accounting principles.

24.What elements comprise the FASB's conceptual framework?
Ans:(1)Objectives of Financial Reporting.
       (2)Qualitative Characteristics of Accounting Information.
       (3)Elements of Financial Statements
       (4)Operating guidelines (assumptions,principles and constraints) 

Conceptual Framework For Financial Accounting

                                                                         Part-A
                                                                   Brief Questions
                                                                        2nd Part

9.What do you mean by Going concern assumption?
Ans:The assumption that the enterprise will continue in operation long enough to carry out its existing objectives and commitments.

10.What is Installment method?
Ans:A method of recognizing revenue using the cash basis, each collection consists  of a partial recovery of cost of goods sold and partial gross profit from the sale.

11.What is International Accounting Standards Board (IASB)?
Ans:An accounting organization whose purpose is to formulate and publish international accounting standards and to promote their acceptance worldwide.

12.What is Matching Principle?
Ans:The principle that expenses should be matched with revenues in the period when efforts are expended to generate revenues.

13.What is Materiality?
Ans:The constrant of determining if an item is important enough to likely influence the decision of a reasonably prodent investor or creditor.

14.All business transactions are recorded in terms of money.This concept is termed the___________
Ans:Monetary unit.

15.Which assumption is given credibility to the cost principle?
Ans:Going Concern assumption.

16.What is business entity assumption?
Ans:Business entity assumption states the economic events can identified with a particular unit of accountability.

Conceptual Framework For Financual Accounting

                                                                   Part-A
                                                             Brief Questions
                                                                  1st Part

1.What is Comparability?
Ans:Ability to compare accounting information of different companies because they use the same accounting principles.

2.What is Conceptual framework?
Ans:A coherent system of interrelated objectives and fundamentals that can lead to consistent standards.

3.What is Conservatism ?
Ans:The constraint of choosing an accounting method, when in doubt,that will least likely overstate assets and net income.

4.What is Consistency?
Ans:Use of the same accounting principles and methods from year to year within a company.

5.What is cost principles?
Ans:The principle that assets should be recorded at their historical cost.

6.What is Economic entity assumption ?
Ans:The assumption that the activities of an economic entity be kept separate from the activities of the owner and of all other entities.

7.What is Full disclosure principle?
Ans:The principle that circumstances and events that make a difference to financial statement users should be disclosed.

8.What is Generally accepted accounting principles (GAAP)?
Ans:A set of rules and practices , having substantial authoritative support, that are recognized as a general guide for financial reporting purposes.
 

Sunday, August 14, 2011

ACCOUNTING-THE LANGUAGE OF BUSINESS

                                                                        PART-A
                                                                  Brief Questions
                                                                        5th part 

33. Which one of the following is not an objective of accounting.
ans:(a)Determination of financial result
       (b)Ascertainment of financial position
       (c)Recording the numerical transactions
        (d)Creation of successful investor.(ans)

34.Which one of the following is not a limitation of accounting
(a)Detection of error and fraud. (ans)
(b)Recording the monetary terms only
(c)Lack of uniform accounting system.
(d)A lot of alternative method.

35.Accounting is considered as combination of three functions what are these ?
or
What are the steps in accounting process?

ans:(1)Identifying
      (2)Recording
      (3)Communication.

36. MCQ:Which of the following statement about users of accounting information is incorrect?
(a)Management is an internal users.
(b)Taxing authorities are external users.
(c)Present creditors are external users.
(d)Regulatory authorities are internal users. (ans)

37.Service provided by a public accountant are __________
Ans:Auditing,taxation and management consulting.

38.Fill in the gaps:
     Accounting is ___________&______________.
Ans: Arts & Science.

39.What is the historical or stewardship functions of accounting?
   Ans: Analysis of financial portion.

40.Fill in the gaps:
     Determining the sources of fund is a __________function of accounting.
 Ans:Managerial. 

ACCOUNTING-THE LANGUAGE OF BUSINESS

                                                                         PART-A
                                                                  Brief Questions
                                                                         4th part

25.When did IASC formed?
Ans:1973.

26.How many accounting standards are received by Bangladesh?
Ans:20.

27. How many accounting standards so far published by IASC?
Ans:41.

28.How many institutions for accounting professionals in Bangladesh?
Ans:2.
(1)ICMAB(Institute of Cost & Management Accountants of Bangladesh)
(2)ICAB(Institute of Chartered Accountants of Bangladesh)

29.How many types of organization according to nature of business.
Ans:3
(1) Service Providing concern.
(2)Merchandising concern.
(3)Manufacturing concern.

30.What are the account that maintained by a non-profit organization ?
Ans:(1) Receipts and Payments Account.
       (2)Income and Expenditure Account
       (3)Balance Sheet

31.Which one of the following is not any branch of Accounting ?
(a)Financial Accounting.
(b)Government Accounting
(c)Political Science. (ans)
(d)Auditing.

32.Which of the following is not a step in accounting process?
Ans:(a)Identification
       (b)Verification (ans)
       (c)Recording
       (d)Communication.

ACCOUNTING-THE LANGUAGE OF BUSINESS

                                                                        PART-A
                                                                    Brief Questions
                                                                         3rd Part


17.Who are the certified accountant?
Ans: Public Accountant.

18."Accounting is the language of business"--- true/false.
Ans:True.

19.Recording of transactions is a important object of___________
Ans:Accounting.

20.What art the major three divisions of accounting?
Ans:1.Financial Accounting.
       2.Cost Accounting.
       3.Management Accounting.

21.When sandilands committee was formed?
Ans:1 December in 1973.

22.When did sandilands committee published a report containing various problems of Accounting?
Ans:25 June in 1975.

23.Elabrate the following: (1)AICPA (2)AAA (3)FASB
Ans: (1)AICPA= American Institute of Certified Public Accountants.
        (2)AAA= American Accounting Association.
        (3)FASB= Financial Accounting Standard Board.

24.What is the elabrate of IASC?
Ans: International Accounting Standard Committee. 

ACCOUNTING-THE LANGUAGE OF BUSINESS

                                                                          PART-A
                                                                     Brief Questions
                                                                          2nd part

9.What is Auditing?
Ans:The examination of financial statements by a certified public accountant in order to express an opinion as to the fairness of presentation.

10.What do you mean by  partnership?
Ans:An association of two or more persons to carry on as co-owners of a business for profit.

11.What do you mean by Corporation?
Ans:A business organized as a separate legal entity under state corporation law, having ownership divided into transferable shares of stock.

12.What do you mean by Taxation?
Ans:An area of public accounting involving tax advice,tax planning,and preparation of tax returns.

13.What do you mean by ethics?
Ans:The standards of conduct by which one's actions are judged as right or wrong, honest or dishonest,fair or not fair.

14.Who was the inventor of modern form of accounting i,e."Double entry system of accounting?
Ans:Luca D. Pacioli.

15.When did double entry system of accounting is inventroduced?
Ans:1494.

16."Summa de Arithmetica,Geomertica,Proportione et proportionalita " Book written By_______?
Ans:Luca D. Pacioli.

Saturday, August 13, 2011

ACCOUNTING-THE LANGUAGE OF BUSINESS

                                                                            PART-A
                                                                        Brief Questions
                                                                             1st part
1.What is Accounting?
    Ans: Accounting is an information system that identifies,records,and communicates the economic events of an organization to interested users.
   Or
Accounting is an information system that identifies, records and communicates the economic events of an organization to interested user."-this definition are given by-
Weygandt,Kieso& Kimmel.

2.Accounting is the art of recording ,classifying and summarising in significant manner and in terms of money,transactions and events which are,in part at least , of a financial character and interpreting the result thereof.- this definition was given by____
Ans:American Institute of Certified Public Accountants (AICPA)

3.What is Book-Keeping?
Ans:A part of accounting that involves only the recording of economic events.

4.What is Financial accounting?
Ans:The field of accounting that provides economic and financial information for investors,creditors,and other external users.

5.What is Managerial accounting?
Ans:The field of accounting that provides economic and financial information for managers and other internal users.

6.What is Management consulting ?
Ans: An area of public accounting involving financial planning and control and the development of accounting and computer systems.

7.What is Private(or managerial) accounting?
 Ans:An Area of accounting within a company that involves such activities as cost accounting budgeting,and accounting information systems.

8.What is Public Accounting?
Ans:An area of accounting in which the accountant offers expert service to the general public.

PRINCIPLES OF FINANCE SYLLABUS

                                                     NATIONAL UNIVERSITY
                                                  Syllabus for BBA Hon's Part-1
                                                   PRINCIPLES OF FINANCE 

PART:A

1. The Role and Environment of Finance:Finance and Business-The Managerial Finance-Goal of the Firm-Financial Institutions and Markets.

2.Financial Statements and analysis: The Stockholders' Report-Using Financial Ratios-Liquidity Ratios-Activity  Ratios-Debt Ratios-Profitability Ratios-Market Ratios-A Complete Ratio Analysis.

3.Cash Flow and Financial Planning: Developing the Statement of Cash Flows-The Financial planning Process-Cash planning: Cash Budgets-Profit Planning:Pro Forma Statements preparing the pro Forma Income Statement-Preparing the Pro Forma Balance Sheet Evaluation of Pro Forma Statements.

4.Time value of money: The Role of Time Value in Finance-Singale Amounts-Annuities-Mixed Streams-Compounding Interest-Special Applications of Time value.

5.Risk and Return: Risk and Return Fundamentals-Risk of a Single Asset-Risk of a Portfolio-Risk and Return:Types of Risk-The Model:CAPM.

6.Interest Rates and Bond Valuation:Interest Rates and Required Returns-Corporate Bonds-Valuation Fundamentals -Bond Valuation.

PRINCIPLES OF ACCOUNTING SYLLABUS


       NATIONAL UNIVERSITY
                                                      Syllabus for 4 year BBA(Hons)
                                                 PRINCIPLES OF ACCOUNTING
                                                                    part-3 (last part) 
                                                                                                                                              marks:100
course Title:

 9.Financial Statements as a Reporting Device : Idea on a Complete Set of Financial statement. Purpose and interrelationship of the Financial Statement. Importance, Limitations & preparation of Financial statements. Supplementary Statements/Schedules.Preparation of Statements according to Nature of Business. Statements for Nonprofit Organizations. Preparation of Financial Statements according to Legal Form of Business: Sole-proprietorship Organizations .Partnership Firms & Company (Introductory Idea).

10.Financial Statement Analysis: Horizontal analysis and vertical analysis of comparative financial statements;Preparation and use of common-size financial statements;Ratio analysis-Basic Ratios of Liquidity,Activity,Profitability,and Solvency.

BOOK RECOMMENDED:
Weygandt, Jerry j , Paul D.kimmel, Paul D.and kieso Donald E,Accounting principles , 9 edition , John wiley & Sons, Inc.

Reference Books: 
1.Needles and Anderson,Principles of Accounting.
2.American Accounting Association, A statement of Basic Accounting Theory(ASOBAT). 


PRINCIPLES OF ACCOUNTING SYLLABUS


                                                      NATIONAL UNIVERSITY
                                                      Syllabus for 4 year BBA(Hons)
                                                 PRINCIPLES OF ACCOUNTING
                                                                       part-2 
                                                                                                                                              marks:100
course Title:

5. Merchandising Operations and Accounting System:Merchandising Operations and Classifying Inventory-Purchases,Sales,Other Use or Loss and Returns of Merchandise Inventory-periodic and perpetual Inventory Systems and Journal Entries-Specific Identification Method and Inventory Cost Flow Assumption(FIDO,LIFO AND Average Cost).

6.Accounting Systems and Special Ledgers: Manual and Computerized Accounting Systems and their effectiveness-The voucher-system-General Ledgers and Subsidiary Ledgers:General Ledger Control Accounts and Subsidiary Ledger Individual Accounts. Special journals:Advantages of Special journals-Cash Receipts Journal-Sales journals Purchase Journal-Cash payments Journal and General Journal.

7.Control of Cash: Controlling cash,Internal control , The bank chequing account,  petty cash,Bank Reconciliation Statement.

8.Accounting for Receivable and Current Liabilities: Receivable-Types of Receivable valuing and disposing Uncollectible accounts-Allowance for doubtful accounts,Accounting for temporary investments-Marketable Securities-Accounting for current liabilities.


PRINCIPLES OF ACCOUNTING SYLLABUS

                                                       NATIONAL UNIVERSITY
                                                      Syllabus for 4 year BBA(Hons)
                                                 PRINCIPLES OF ACCOUNTING
                                                                       part-1 
                                                                                                                                              marks:100
course Title:

1.Accounting - The Language of Business:Definition and scope of Accounting,Its role and Functions, History of Accounting, Purpose and Nature of Accounting Information.Users of Accounting information.Branches of  Accounting -Nature of Business  and Accounting.      

2.Conceptual Framework for Financial Accounting:FASB Conceptual Frame for Financial Accounting-First-Level:Basic Objectives:(SFAC-1);Second level:Qualitative Characteristics of Accounting Information (SFAC-2);Third Level:Operational Guidelines.  

3.The Accounting process: Double-Entry Accounting System vis-a-vis Incomplete System . Accounting Equation - Effects of Transactions on the Accounting   Equation. The Account-Classification of Accounts-Selection of Account Titles-Chart of Accounts-Coding-Rules of debit and Credit-Balancing and Normal Balance-Recording(Bookkeeping) Aspect of other Events-journalization-posting to the Ledger-preparation of Trial Balance-Limitations of Trial Balance,Errors and their Rectification.     

4.The Adjustment Process and Completing the Accounting Process:Key aspects of the Accrual basis of Accounting , Cash accounting and Break-up basis of accounting Adjustments-Adjusted Trial Balance-Preparation of work Sheet-Closing Entries-Post-Closing Trial Balance-Reversing Entries.