How to explain the significance of the error

Assignment Help Financial Accounting
Reference no: EM132646329

Problem 1: You job role is an accounts receivable clerk and you are responsible for producing monthly financial reports for your organisation. You notice that one section in the organisation has provided data that is entered incorrectly. Explain the significance of this error and how you would resolve the discrepancy. Your response should include:

  • Actions you would take to rectify the problem

Reference no: EM132646329

Questions Cloud

Research on computerised accounting systems : Conduct some research on computerised accounting systems and answer the following questions: the relationship between a modern cash register system
Identify the main security threats : 1) Describe clearly 6 security breaches that can be caused by malware.
Job satisfaction-does it differ across cultures : Evidence shows that job satisfaction levels in the United States are dropping. The Conference Board, which surveys large numbers of workers every year
How much of this coupon payment will be recorded : How much of this coupon payment will be recorded as principal repayment by the issuer using the effective interest rate method to amortize the discount
How to explain the significance of the error : You job role is an accounts receivable clerk and you are responsible. Explain the significance of this error and how you would resolve the discrepancy.
Media to inform us on political issues : How can we, as citizens, best use the media to inform us on political issues? Identify the ways in which politicians use the media and vice versa
How would you expect the potential for conflict : How would you expect the potential for conflict between china and the united states to change from its current state - applicable analysis framework
Determine the issue price : The market requires a rate of return of 8 percent. Determine the issue price. Provide the journal entries at: (i) 1 July 2018 (ii) 30 June 2019
How to compute return on assets for the fiscal year : Compute its return on assets (ROA) for the fiscal year ending January 28, 2012. Interest income for year was $3 million, so interest expense was $869 million

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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