from their account. A subsidiary ledger is a group of accounts with a common characteristic. Its purpose is to free the general ledger from the details of the individual balances. It is an addition to‚ and an expansion of‚ the general ledger. A control account is a general ledger account that summarizes subsidiary ledger data. Its purpose is to keep the general ledger free of details‚ yet have the correct balance for the financial statements. The two general ledger accounts that may act as control
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8General Ledger‚ Financial Reporting‚ and Management Reporting Systems TRUE/FALSE 1. The most common means of making entries in the general ledger is via the journal voucher. ANS: T PTS: 1 2. Individuals with access authority to general ledger accounts should not prepare journal vouchers. ANS: T PTS: 1 3. The journal voucher is the document that authorizes entries to be made to the general ledger. ANS: T PTS: 1 4. Each account in the chart of accounts has a separate record in the general ledger master
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A subsidiary ledger is a ledger that includes all of the details of a general ledger‚ and it holds accounts with similar attributes. The purpose is that is can contain things such as accounts receivable and accounts payable and it can show the sum total. The advantages of using subsidiary ledgers is that the sum of all the accounts is kept in the General Ledger and all of the details of the accounts are kept in the subsidiary ledger which is separate so you can keep them in different columns so to
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1.The original motivation behind Bayer’s decision to launch the Makrolon ingredient branding concept was‚ to give Bayer and it’s partner’s the ability to achieve a differentiation of themselves from the competition and competing products by means of a branding strategy. It was important to Bayer to highlight the advantages of Makrolon and transfer this positive image to the end product with the help of a brand name. With this differentiation it gives the ingredient a unique selling proposition‚ or
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permitted to work next to each other. Both employees and the Union representing them filed charges of discrimination. The EEOC determined that there was reasonable cause of discrimination; violating Title VII of the Civil Rights Act of 1964. The case ended up in the federal district court. The court granted motion for summary judgment. ISSUE: Does this rule violate Title VII? DECISION: No. The court reversed and remanded their decision. REASONING: The court did not find that there
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16 GENERAL LEDGER AND REPORTING SYSTEM SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 16.1 Although XBRL facilitates the electronic exchange of financial information‚ some external users do not think it goes far enough. They would like access to the entire general ledger‚ not just to XBRL-tagged financial reports that summarize general ledger accounts. Should companies provide external users with such access? Why or why not? No‚ companies should not provide access to their general ledger. Providing
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Save Reset Print Name(s): Course & Selection: Identifier: Client: Rachel Song BCIS6243B2 GBI-034 659 Chapter 03: Financial Accounting Exercise 03-02: Basic Financial Accounting Process Single Company Code Version 1 Rev: 01/03/2011 Introduction General Notes and Information It is strongly recommended that you read through the entire exercise prior to starting. Not all instructions can be provided in a linear manner. The following symbols are used to indicate important information
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Epidemiology of Hepatitis B Sara Sarraf Grand Canyon University Epidemiology and Communicable Diseases NRS-427V Sandra White July 3‚ 2014 Epidemiology Hepatitis B We have come far in healthcare and everyday we get closer to solutions and can succeed in the understanding of disease processes unknown and foreign to us. We have been challenged many times by the illnesses that have taken so many lives but never in vain as when this unfortunate event has happened we have been able to get closer
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Hepatitis B Vaccine Medical Assistant Gladys Maria Shafer February 19‚ 2013 Hepatitis refers to an inflammation of the liver‚ which is swelling that occurs when the tissues of the body become injured or infected. “Hepa” means liver and “itis” refers to inflammation. The Hepatitis B virus spreads through blood or direct contact with any body fluids from someone who already has a Hepatitis B infection and the virus enters the body unnoticed
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J&B Case Analysis The May 16‚ 2000 Harvard Business case describes how J&B Scotch has suffered from sluggish sales since the 1970’s. Once the best selling whisky in its class‚ J&B was now losing share and volume in a declining category. The author‚ Grant McCracken‚ goes on to say that the long term prospect is grim. Something needed to happen to boost sales for this once thriving brand. The article introduces you to Michael Stoner‚ VP and Product Group Director for the Schieffelin
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