The explanation cycle for some institutions can be the uniform or different depending on the type of composition. Within a school district, such as North Merrick Union empty School District, the accounting cycle is accommodate around the outlay per child. It is also a not for profit organization; this differs from an organization in which a profit is the goal of the company. Being diligent as a Special Education Teacher adjutant bird I dont really carry access to the whole accounting make. I do nab a portion of the process such as the time shroud for my hours worked and the final direct of my paycheck. Organizations do go through an accounting process in rank to define and pay for their expenses. The accounting process is a serial of activities that begins with a performance and ends with the closing of the books. Because this process is repeated each account period, it is referred to as the accounting cycle and includes these major steps: 1. Identify the feat or other recognisable event. 2. Prep argon the transactions source enter such as a buy order or invoice. 3. Analyze and straighten out the transaction. This step involves quantifying the transaction in monetary terms (e.g. dollars and cents), identifying the accounts that argon affected and whether those accounts are to be debited or credited. 4.
Record the transaction by making entries in the appropriate journal, such as the sales journal, purchase journal, cash receipt or disbursement journal, or the general journal. Such entries are made in chronological order. 5. Post general journal entries to the ledger accounts. (20 05, NetMBA.com). fit in to the earnings C! enter for Management and Business Administration, Inc. the above steps are performed passim the accounting period as legal proceeding occur or in periodic batch processes (2005, NetMBA.com). At the end of the accounting... If you want to press a full essay, order it on our website:
OrderCustomPaper.comIf you want to get a full essay, visit our page: write my paper
No comments:
Post a Comment