Respati 6:24 AM Add Comment Accounting Cycle Edit Reversing Entries Reversing Entries - Reversing entries are an optional accounting procedure which may prove useful in simplifying record keeping. A revers... Read More
Respati 8:55 AM Add Comment Accounting Cycle, Closing Process Edit The Accounting Cycle and Closing Process The Accounting Cycle and Closing Process - Reflecting on the accounting processes thus far described reveals the following typical steps: ... Read More
Respati 11:31 PM Add Comment Accounting Cycle, Financial Statements Edit Preparing Financial Statements Preparing Financial Statements - In the previous chapter, you learned all about adjustments that might be needed at the end of each accou... Read More
Respati 7:16 AM 3 Comments Accounting Cycle, Accrual, Basis Accounting, Cash Edit Accrual Versus Cash Basis Accounting Accrual Versus Cash Basis Accounting - Generally accepted accounting principles (GAAP) require that a business use the “accrual basis.” U... Read More
Respati 8:23 AM Add Comment Accounting Cycle, Adjusting Process, Related Entries Edit The Adjusting Process and Related Entries The Adjusting Process and Related Entries - Illustration of Prepaid Insurance, Illustration of Prepaid Rent, I’m a Bit Confused – Exactly ... Read More
Respati 8:48 AM Add Comment Accounting Cycle, Expense Recognition Edit Basic Elements of Expense Recognition Basic Elements of Expense Recognition - Expense recognition will typically follow one of three approaches, depending on the nature of the... Read More
Respati 8:45 AM Add Comment Accounting Cycle, Revenue Recognotion Edit Basic Elements of Revenue Recognition Basic Elements of Revenue Recognition - To recognize an item is to record it into the accounting records. Revenue recognition normally oc... Read More