Judul: AKUNTANSI KEUANGAN DAN AKUNTANSI MANAJEMEN
Penulis: Ashari Ramadhan
FINANCIAL ACCOUNTING AND MANAGERIAL ACCOUNTINGName : Ashari Ramadhan, SEAge : 26Education : S1 Accounting, State University Of JakartaEmail : Ashari10173sniper@gmail.com A.Financial Accounting The process of preparing financial statements that the company uses to show their financial performance. (For External users)B. Managerial Accounting The Method of accounting that creates statements, reports, and documents that help management in making bettter decisions. (For Internal Users) Financial AccountingAnalyze Business Transaction Determine the journal entry based on its normal balance. Normal balance is based on accounting equation.Assets (Dr) = Liabilities(Cr) + Equities (Cr)Expenses(Dr)Revenue (Cr)What the equation tell you? When increasing in asset you put your balance to Debit and vise versa, when increasing in liabilitis you put your balance to Credit and vise versa, when increasing in equities you put your balance in Credit and vise versa. Revenue balance is put in Credit when increasing and vise versa meanwhile expense balance is put in debit when increasing and vise versa. Financial Accounting2. Journalize the transactions Determine what kind of journal entry we should record base on the transaction. Which account is to be debited and which to be credited.For Example : paid cash for supplies Supplies xxx Cash xxx Financial Accounting3. Post to Ledger Account The process of transfering entries in journal into the account in the ledger. Substacting the sum of its debit from the sum of its credit.For Example Financial Accounting4. Trial Balance is a bookeping worksheet in which the balance of all ledgers are compiled into debit and credit column totals that are equal. Financial Accounting5. Jurnalize and post adjusting entries The purpose of adjusting entries is to accurately define the expenses and the revenues that actualy happened during the period.Transfer it to the general ledger after we make the journal entries.For Example : Paid supplies cash 700, The end of period suplies count 300. so the supplies used is 400Supplies 700 Supplies Exp 400 Cash 700 Supplies 400 Financial Accounting6. Prepare The Adjusted Trial Balance Adjusted trial balance is the end-product or the final balance after all adjustments have been made.For Example : Paid supplies cash 700, The end of period suplies count 300. supplies used is 400Put 300 on adjusted trial balance (dr) for suppies account. Financial Accounting7. Prepare Financial Statement Financial Statements are prepared by transferring the account balance on the adjusted trial balance. There are 4 kind of financial statements. There are Income statement, balance sheet, retained earning, statement of cash flows.For Example: to make income statement you must transfering all revenues and and all expenses from adjusted trial balance then you substracting all revenues from all expense to create net profit of the company. Financial Accounting8. Journalize and post closing entries The Closing Process reduces Revenues, Expenses, and Dividends account balance (which called temporary accounts) to become zero so that they are ready to recevie data for the next period. We don’t close the permanent accounts (accounts in balance sheet) because these account balances are transferred to the next period. Financial Accounting8. Journalize and post closing entriesThere are 4 closing entries we have to make:1. Transferring the credit balances in the revenues to a clearing account called income summaryRevenues xxx Income Summary xxx2. Transferring the debit balances in the expenses to clearing account called income summaryIncome Summary xxx Expenses xxx3.Transferring the balance of income summary account to the retained earnings account.Income Summary xxx Retained Earnings xxxNote : if you get net loss the journal above must be flipped. Because profit increses RE and loss decreses RE.4. Transfering debit balance of the dividends account to Retained Earnings. If We have Dividens the RE is Decreasing.Retained Earnings xxx Dividens xxx Financial Accounting9. Post Closing Trial Balance It Contains the Permanent account or balance sheet accounts. It is used to verify the total debit balance has the same amount as the total credit balance. (Last step of accounting cycle)For Example : Managerial AccountingCost Volume Profit Analysis The CVP formula can be used to calculate the sales volume needed to cover costs and break even. The formula is as follows Breakeven Sales Volume = FC/CM Where : -Fixed costs include expenses that remain constant during the period like rent, salaries, loan payment -Variabel Costs include expenses that change based on the production volume like direct labor, sales commisions, delivery expense. FC = Fixed Cost CM = Contibution Margin (Sales-Variable Costs) For Example, The Company with 100.000 fixed costs and a contribution margin 40% must earn revenue of 250.000 to break even. Managerial Accounting2. Variable Costing and Segmen Reporting a. Variable costing There are two types of costing. Fixed costing and variable costing. When your company uses fixed costing you have to calculate all expenses that are change with sales volume and that are not change with sales volume, but when your company uses variable costing you only calculate the expenses that change with sales volume. Advantage : Variabel costing is used for comparing the profitability of different product lines. Tha managers can carry out an analysis on costs, volumes, and profitsb. Segment Reporting Segmen reporting informs you which is the most important operating units of your company. Managerial Accounting3. Master Budget master budget is a financial forecast that contains all budgeted revenues and costs for the upcoming accounting year.This Budget has two main component: a. Operational Budget -Sales budget -Production budget -Selling and administrative budget - COGS budget b. Financial Budget -cash budget -income statementt budget -balance sheet budget Managerial Accounting4. Flexible Budget is adjusted by incorporating the changes in the number of units produced. Fexible budget is most appropriate for organizations that operate with an increased variable cost structure where the costs are mainly associated with the level of activity That’s all for my presentation.Thanks for your time and attention ïŠYou can ask me if you have some questions.
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