Explain the recording process and the accounting equation

Assignment Help Accounting Basics
Reference no: EM131105256

DISCUSSION

"Importance of Accounting" Please respond to the following:

• In your own words, explain the recording process and the accounting equation to someone who has no accounting experience. Give your opinion on the elements or areas that might cause the most confusion or be the most difficult to grasp.

Reference no: EM131105256

Questions Cloud

The optimal ordering policy : If you order, you must order an integer number of batches of 100 units each, and this quantity is delivered immediately. Let G(y) denote the total expected cost when there are y units available for the period (after ordering).
Information technology sources : You are going to address multiple areas in this letter: Information Technology sources (a class objective), technology drivers, and the Zachman Framework .
What is meant by solvency : What is meant by solvency? What information in the balance sheet can be used to assess a company's solvency?
Compare your results to those obtained from a microwave cad : If possible, compare your results to those obtained from a microwave CAD tool.
Explain the recording process and the accounting equation : In your own words, explain the recording process and the accounting equation to someone who has no accounting experience. Give your opinion on the elements or areas that might cause the most confusion or be the most difficult to grasp.
Find ted talk- npr podcast covering subject related language : Find a Ted Talk or NPR Podcast covering a subject related to language and culture/society. It can be about language and changing demographics, language acquisition, the nature of sign language --there are literally thousands of talks and podcasts ..
Firm business risk and its financial risk : Distinguish between a firm's business risk and its financial risk. Briefly explain what is meant by a firm's optimal capital structure.
Identify the key steps in the closing process : Identify the key steps in the closing process that provide the most opportunity to make mistakes in processing account transactions. Make at least two recommendations for improving the accuracy and reliability of the information in the gaps that y..
How does information from the balance sheet : How does information from the balance sheet help users of the financial statements?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Relies on the judgments of someone

Supporting material which relies on the judgments of someone, other than the speaker, who has relevant experience and expertise is called:

  What essential characteristics

If you had to explain or define "generally accepted accounting principles or standards," what essential characteristics would you include in your explanation?

  Creating the future

From the article "Creating the Future," clearly summarize the article's short-term goals and long-term goals.

  To reflect conservative accounting choices

Which of the following is most likely to reflect conservative accounting choices? A. Decreased reported earnings in later periods

  Rollins products company has had poor operating results for

rollins products company has had poor operating results for the past two years. as the accountant for rollins products

  What criteria can be used to judge a particular transfer

the following questions pertain to the process of transfer pricing.1. define the term transfer price.2. what the three

  In 200 words or more please review a public companys

in 200 words or more please review a public companys financial statements. comment on each account that you find in the

  Comprehensive budgeting-basic flexible budgeting

The balance sheet of Watson Company as of December 31, 20X1, follows

  Investment in prescott-consolidated balance sheet

No investment income was included within either of these income totals. How would the 10% investment in Prescott owned by Bell be presented in the consolidated balance sheet?

  Prepare amonthly flexible selling expense budget for prater

prepare amonthly flexible selling expense budget for prater company for sales volumes of 250000 440000 and 770000 based

  The cash advance for services to be provided in the future

The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one year contract started October 1.

  Determining the comparative analysis

Assume that two companies that operate walk-in clinics both had the same December year end, but one was based in Aspen, Colorado, a winter resort, while the other operated in Cape Cod, Massachusetts, a summer resort. Would this lead to problems in..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd