influence the nature and structure of accounting systems of the organization 1.3 9 Identify the different components of business risk the organization may face in relation to its accounting system and financial management. 2.1 10 Briefly describe the general control system of the organization and analyze the impact of
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CHAPTER 2 * Overview of Business Processes SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 2.1 Table 2-1 lists some of the documents used in the revenue‚ expenditure‚ and human resources cycle. What kinds of input or output documents or forms would you find in the production (or conversion) cycle? Students will not know the names of the documents but they should be able to identify the tasks about which information needs to be gathered. Here are some of those tasks:
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ACC/290 Final Examination Study Guide This study guide will prepare you for the Final Examination you will complete in Week Five. It contains practice questions‚ which are related to each week’s objectives. In addition‚ refer to each week’s readings and your student guide as study references for the Final Examination. Week One: Basic Accounting Principles and Concepts Objective: Identify the four basic financial statements. 1. Which of the four basic financial statements has three main
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Chapter 4 Recording Transactions and Adjustments and Performing Month-end and Year-end Closing Procedures Options A‚ B‚ and C. This chapter has three options depending upon your previous experience with a manual version systems project called the Systems Understanding Aid‚ written by the same authors as this computerized project. Option A is for students who have not used the Systems Understanding Aid before. Option B is for students who have completed the Systems Understanding Aid before
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accounting process cycle‚ with recording of the adjusting entries (which are the revenues made and expense paid for during the month). Then balance remaining after posting the adjusting entries are posted to the general ledger accounts. Once the adjustments are recorded to general ledger on should prepare an adjusted trial balance‚ which are the differences of the revenue and expense from the beginning of the month to the end of the month. Once the adjusted trial balance is prepared one moves to
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main features of manual and computerized accounting‚ their benefits and shortcomings‚ and their comparison. From the accounting theory it is known that accounting cycle includes the following steps: journalizing the transactions‚ posting them to ledger accounts‚ preparing trial balance‚ making adjustment entries‚ preparing adjusted to end-of-period trial balance‚ preparing financial statements and appropriate disclosures‚ journalizing and posting the closing entries‚ and preparing after-closing
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the transaction. The journalizing process can be completed in a variety of ways; the most common method is the general journal‚ although some companies keep other special journals. The next step in the accounting cycle is posting‚ which is the procedure of transferring journal entries to the ledger accounts (Kieso et al.‚ 2007)‚ so that the transactions reflect in the appropriate ledger accounts balances. After the
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| | |Financial analysis and reporting for up to 5 US distribution sites. | | |General ledger accounting: monthly closing entries‚ compiled various reports for gl entries. | | |Balance sheet account analysis: prepaids
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are required to be remitted to the National Treasury. Wednesday‚ March 6‚ 13 • • Wednesday‚ March 6‚ 13 RA Books - Journals and Ledgers Journals • • • • Cash Receipt Journal (CRJ) Cash Disbursement Journal (CDJ) Check Disbursements Journal (CkDJ) General Journal (GJ) Ledgers • • General Ledger (GL) Subsidiary Ledgers (SL) for: Cash‚ Receivables‚ Inventories‚ Investments‚ PPE‚ Construction in Progress‚ Liabilities‚ Income‚ Expenses NG Books • • •
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date] http://kaka-pakistani.blogspot.com CAT-T3 Bank Reconciliation Statements 1 Wilson is preparing his bank reconciliation at 31 May 2005. His bank statement shows a balance of $228 cash at the bank. The balance on the bank account in his general ledger is $113 (credit). He has noted the following reasons for the difference: (i) Cheque number 958602 was incorrectly recorded in Wilson’s cash book as $760. The cheque was correctly debited on the bank statement on 2 May as $670. (ii) Bank charges
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