Basic Accounting Concepts and Principles for Aggie Enterprise Users
The Accounting Fundamentals series is presented by UC Davis Central Accounting and Financial Reporting and Aggie Enterprise Change, Communications, and Training. These sessions are designed for staff working in Aggie Enterprise who have little to no accounting experience or who would like to refresh their knowledge.
Accounting Equation
Overview of the accounting equation, accounts, and introduction of the rules for using debits and credits. We also take a look at a few common journal transactions that take place in Aggie Enterprise.
Chart of Accounts
Introduction to chart of accounts, chart strings, and chart segments. We also show how to build chart strings and how to translate chart strings using available reports and tools.
Financial Statements and Reports
Overview of the annual report and key components of the report. We also show how to use the Trial Balances Report to find errors to ensure accurate financial statements.
General Ledger, Subledgers, and Journals
Basics of journals, the general ledger, and subledgers. In the second half, we take a look at reports that help us trace transactions between the general ledger and a subledger.
Accruals, Deferrals, and Reversals
Overview of accrued and deferred transactions. We walk through examples of accrued and deferred transactions, and demonstrate how they are recorded in the general ledger.
Accounting Cycle
Accounting tasks performed each period and fiscal year to ensure balanced entries and reporting accuracy. We provide high-level guidance for period and fiscal close tasks.