"learning the Accounting Cycle" is an instructional resource manual for the visual learner. It emphasizes the "conceptual" in context of "the big picture," including the use of three learning techniques: Balancing, Bundling and Building.
"Learning the Accounting cycle" is all about direction and balance. Two visuals are a compass and balance beam. These visuals utilize physics: The science of direction and balance. The compass and the balance beam found throughout the manual help visualize accounting concepts such as business entity, possession and ownership of assets, debits and credits, source and use of cash, income statement, owner's equity statement, balance sheet, cash flow statement, and adjusting and closing entries. This is balance beam accounting.
"Learning the Accounting cycle" uses stories, images and illustrations (icons, graphics, colors, diagrams, tables, boxes and blocks). This format helps initially in visual representations and later as memory hooks. this manual appears in graphic format to appeal to a diverse population with a wide range of interest and linguistic skill. Learning the accounting cycle separates the language of accounting from the math of accounting and teaches the language only.
"Learning the Accounting cycle" bundles related concepts and teaches them in a timely order. this manual bundles the business's first year's cash flow statement with the income statement, owner's equity statement and balance sheet. all four originate out of the first trial balance. fourteen adjusting entries are bundled in a unique relationship. three contra assets are bundled with adjusting entries. merchandising with periodic and perpetual inventory methods is bundled with the complex income statement, which in turn is bundled with four closing entries. the best time to learn periodic, perpetual, complex income statement and closing entries is at the same time.
Henning J Olsen