Accounting Cycle acccounting background ONLY plz!
You are to write a 2-4 page paper explaining the accounting cycle and each of the ten steps. Your paper should be in terms that someone without much knowledge of accounting can understand. You should address what information is needed and how it is processed at each step. Be sure to address the consequences of inaccuracies and the ramifications of omitting any of the steps. An introduction and conclusion should be included in your paper.
This assignment should be typed and follow APA guidelines for document format and citations of resources.
The following checklist will assist you with completing this assignment:
1. Introduction – provide background information and an overview of the accounting cycle
2. The Accounting Cycle: 10 Steps – provide an explanation of each of the ten steps, address the information needed and how it is processed at each step, provide information regarding the consequences of inaccuracies or the affect of leaving out individual steps
3. Conclusion – summarizes the accounting cycle and provides a review of the importance of following the steps and providing accurate financial information
the answer is explained in detail.
body preview (175 words)
xxxxxxxxxx xx xx information xxxxxx that measures, xxxxxxxxx xxx communicates financial xxxxxxxxxxx xxxxx an economic entity. An xxxxxxxx entity can xx x business, xxxxxxxx xx a xxxxxxxxxx body. xxxxx person xx an xxxxxxxx activity xxx to have x basic knowledge xx accounts xx xx xx xxxxxxxx as xxxxx xxxxxx
Accounting cycle xxxxxxxx a series of xxxxxxxxxx undertaken xxxxxx the xxxxxxxxxx period to process xxxxxxxx transactions xxx produce xxxxxxxxx statements. The accounting period is xxx period xxxxxxx xx xxx xxxxxxx xx xxx xxxxxx statement. It can xx a xxxxxx quarter, six months xx a year.
The xxxxx undertaken during xxx xxxxxxxxxx cycle xxxxxxxx xxx xxxxxxxxxx xxxxxxxx There xxx 3 xxxxxxx xxxxxx xxx xxxxxxxxxx xxx the output. xxxxxx xxx the source documents xxxxx xxxx xxx xxxxx of xxx transaction. Examples are the xxxxx xxxxxxxxx xxxxxxxx xxxxxxxxx checks, supplier’s invoices etc. xxx processing xxxxx xxxxxxxx xxxxxxxxx xxx effects of the xxxxxxxxxxx and xxxxxxxxx xxxx xx xxxxx xx xxx xxxxxxxxx In output phase, the financial statements – income statement, balance xxxxx xxx xxxx xxxxx xxx xxxxxxxx
file1.docx preview (897 words)
Accounting xx xx xxxxxxxxxxx system xxxx measures, processes xxx communicates xxxxxxxxx information about an economic entity. xx xxxxxxxx xxxxxx xxx xx a business, hospital xx x xxxxxxxxxx body. Every person xx an xxxxxxxx xxxxxxxx xxx to xxxx a basic knowledge of accounts xx it is involved xx xxxxx xxxxxx
xxxxxxxxxx cycle xxxxxxxx x xxxxxx xx activities undertaken xxxxxx xxx xxxxxxxxxx period to process xxxxxxxx transactions xxx produce xxxxxxxxx statements. The xxxxxxxxxx xxxxxx xx xxx period xxxxxxx xx the xxxxxxx xx xxx xxxxxx statement. xx xxx be a xxxxxx xxxxxxxx xxx xxxxxx xx a xxxxx
xxx steps xxxxxxxxxx xxxxxx xxx xxxxxxxxxx cycle xxxxxxxx xxx xxxxxxxxxx process. xxxxx are x xxxxxxx xxxxxx xxx xxxxxxxxxx xxx xxx output. xxxxxx xxx the xxxxxx documents
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file2.pdf preview (14954 words)
xx E xx G xx C T x x E ◆
xxxxxxxxxxx xxxx come a long way from xxx xxxxxxxxxxxxx of “bean xxxxxxx”—x pale figure xxxxxx xxxxx xxxxxxxx xxx tends xxxxxxxxxxx ledgers and journals xx x xxxx room. In xxxxx xxxxx’s accountants are more xxxxxx xx xx xxxxxxx from home, xxxxxxxxxxxxxxxxxxx xxx Pacific Ocean while xxxx xxxxx clients in other xxxxxxxxx via the Internet. xx least that’s what life xx like xxx Lance xxx Deanna xxxxxxx founders of TAD, an online (or “xxxxxxx”x xxxxxxxxxx xxxxxxxx
TAD accomplishes xxx xxxxxx xxxxxxxxxx cycle using the xxxxxxxxxx software xx the xxxxxx’s xxxxxxxxxxx the xxxxx step xx xxx xxxxxxxxxx xxxxxx xxxxx you learned in xxxxxxx 3, TAD gets xxxxxxx to scan their xxxxxxxxxxx xxxx xxxxxxxxxxx xxx other source documents into their computer. xxx even
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