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The Accounting Cycle – Journalizing, Posting, and the Trial Balance Prepared By: Amin M. Hashem 3-1 Learning Objective 1 Journalizing: analyzing and recording business transactions into a journal. 3-2 Accounting Methods for Measuring Performance CASH BASIS OF ACCOUNTING VS ACCRUAL BASIS OF ACCOUNTING 3-3 Accounting Methods for Measuring Performance (a) Cash basis of accounting + Revenues are recognized when cash is received and expenses are recognized when cash is paid (b) Accrual basi
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  3 - 1 The Accounting Cycle  –   Journalizing, Posting,and the Trial Balance Prepared By:Amin M. Hashem  3 - 2 Journalizing: analyzing andrecording businesstransactions into a journal.Learning Objective 1    3 - 3 CASH BASIS OF ACCOUNTING ACCRUAL BASIS OF ACCOUNTINGVS Accounting Methods for MeasuringPerformance  3 - 4 Accounting Methods for MeasuringPerformance (a) Cash basis of accounting + Revenues are recognized when cash is received and expensesare recognized when cash is paid (b) Accrual basis of accounting + Revenues and expenses are recognized on an economic basisregardless of when cash is paid or received
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