Test Your Knowledge 5:

FINANCIAL REPORTING &

MANAGEMENT REPORTING
Members
Andrada, Lara Nicole
Bueno, Fatima Jean
Donguila, Shian Aubrey
Lapada, Monica Ingrid
Molina, Krisha Khate

Process Person or Input Output Accounting

Department Documents Documents Records
in Charge

Financial Reporting & Management Reporting

1 Capture the transaction Accounting ● Transactions ● Transaction

Department File

2 Record in special Accounting ● Journal ● Journal General Journal

journal Department Entries Voucher
● Special
Journal

3 Post to subsidiary Accounting ● Journal ● Journal Subsidiary

ledger Department Voucher Voucher File Accounts

4 Post to general ledger Accounting ● Journal ● General General Ledger

Department Voucher Ledger Master
● Special File
Journal
● Subsidiary
Ledger

5 Prepare the unadjusted Accounting ● General ● Worksheet General Ledger

trial balance Department Ledger ● Unadjusted
Master File Trial Balance

6 Make adjusting entries Accounting ● Adjusting ● Journal

Department entries Voucher

7 Journalize and post Accounting ● Journal ● General General Ledger

adjusting entries Department Voucher File Ledger Master
File

8 Prepare the adjusted Accounting ● Adjusted ● Adjusted Trial Financial

trial balance Department balances Balance Statements

9 Prepare the financial Accounting ● General ● Balance Sheet Financial

statements Department Ledger ● Income Statements
Master File Statement
● Adjusted ● Cash Flow
Trial Balance Statement
10 Journalize and post the Accounting ● Closing ● Journal General Ledger
closing entries Department entries Voucher File

11 Prepare the Accounting ● Trial Balance ● Post-closing Balance Sheet

post-closing trial Department Worksheet Trial Balance Account
balance