• Mentor an Accounting Clerk
    a medium- sized manufacturing company and have been asked to mentor you since you are a new accounting clerk in my accounting department. There are a few things that I need to go over with you that you need to know and remember. The first thing is I will explain why adjusting entries are necessary. Next...
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  • Accounting Cycle
    Accounting Cycle Explain why adjusting entries are necessary. Adjusting entries are necessary because, normal journal entries are based on actual transactions. The date the transactions take place might not be the same date that payment is needed to fulfill the matching principle of accrual accounting...
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  • Principles of Accounting
    project 1. Explain why adjusting entries are necessary? The reason why adjusting entries are important is to keep record of the company’s business transactions and how they are operated. If you do not keep record of entries then making decisions can be difficult without an adjusted entry on record. 2. Describe...
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  • Principles of Accounting I
    2-IP2-ACCT205 Explain why adjusting entries are necessary. “After the trial balance has been prepared, some entries need to be adjusted. Some business activities affect multiple accounting periods, so to ensure compliance with the matching principle, adjusting entries are needed. For example, if a magazine sells...
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  • Accounting for Business Decisions A Full Notes
    employee and consumer groups. Accounting has a long history; it is said to have been used to track the costs of major ancient constructions. Double entry bookkeeping can be traced back to Italy over 500 years ago. Today professional accounting bodies such as Institute of Chartered Accountants in Australia...
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  • Accounting
    medium-sized manufacturing company it’s my job to help people out whenever I can. Last week I was asked to mentor an accounting clerk who is new to my accounting department. I will be explaining why adjusting entries are necessary, also I will be describing the four types of adjusting entries, and provide a manufacturing...
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  • Principles of Accounting - Paper
    since this is what will be going over. The handout details why adjusting entries are necessary. It will describe the four types of adjusting entries, and provide a manufacturing industry example of each. The handout will also describe how entries would be recorded in our computerized accounting system, and...
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  • financial accounting
    Statements 3 Balance Sheet 4 Income Statement 5 Cash Flow Statement 6 Stockholders’ Equity 7 Financial Ratios 8 Accounting Principles 9 Bookkeeping, Debits & Credits 10 Accounting Equation 11 Adjusting Entries 12 Bank Reconciliation 13 ...
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  • Mentoring an Accoutning Clerk
    ACCOUTNING CLERK Mentoring an Accounting Clerk I am here today to provide you with some information about accounting. In this presentation or tutoring section you will learn about adjusting entries, and the four types of adjusting entries. Also, I am going to take you through on how to record or computerized...
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  • Marketing Concepts
    One can find a McDonalds food outlet in the most populated areas but these outlets are easily accessible. 4. McDonalds has always been engaged in different promotional schemes, examples of which are the Happy meals, ad campaigns, various toys with meals etc. 5. Respect for different customs and...
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  • Job Costing
    meanings and different types of costs are used in different situations. Therefore a preceding term must be added to clarify the assumptions that underlie a cost measurement. Examples include variable cost, average cost, total cost, fixed cost, opportunity cost and sunk cost. A few types of costs are as given...
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  • Market Structure Analysis in Tanzania
    barriers to entry, pricing power, efficiency and profits. Each of these specific criteria is used to describe the circumstances and the environment in which they operate. A firm can make more effective pricing and production decisions when it has a solid understanding of the industry it functions...
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  • Miss
    chief financial officers Accounting provides internal reports such as performance Example questions include: Is cash sufficient to pay bills? What is the cost of manufacturing each unit of produce? Which product is most profitable? External users several types investors (owners) who use accounting...
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  • Accounting 1-4 Chapter
    forms of business organization. 2 Identify the users and uses of accounting information. 3 Explain the three principal types of business activity. 4 Describe the content and purpose of each of the financial statements. 5 Explain the meaning of assets, liabilities, and stockholders’ equity, and state the...
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  • Adjusting Entries - Essay
    Adjusting Entries Yvenie Desire ACCT205-1203A-11 June 9, 2012 Adjusting Entries Welcome to the company and as an accounting clerk for the department you will be working a lot with the accounting department and with me. I will be mentoring you on certain aspect of accounting and what needs to be...
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  • Amman
    profession has recently developed the Financial Accounting Standards Board Codification (often referred to as the Codification). This Codification provides in one place all the GAAP related to a given topic. This textbook is the first to incorporate this Codification—it will make learning GAAP easier...
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  • Basic Hospitality Accounting
    during the week and generally provide little weekend hospitality business. On the other hand, local people most often frequent restaurants on Friday through Sunday more than they do during the week. Third, there is a seasonal cycle that depends on vacationers to provide revenue for hospitality operations...
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  • Accounting Cliff
    accountability. A business accounting system provides this accountability by recording all activities regarding the creation of monetary inflows of sales revenue and monetary outflows of expenses resulting from operating activities. The accounting system provides the financial information needed to evaluate...
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  • principle of Accounting
    old as money. However in 1494 Lucas Fra Pacoili, an Italian Merchant is universally regarded as the father of modern system of accounting or double entry system of accounting. Accounting has been referred as “The Language of Business” because of its role in maintaining and processing all relevant financial...
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  • Financial Accounting
    Lecture-5 Financial Accounting As Information system Input Business Transaction *Examples: • Buying goods • Paying salaries • Providing services • Buying land • Borrowing cash Processing Recording *Example: • Entering business transactions into a set of accounting records. Output Set of Financial statements...
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