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Q. Fundamental manual accounting system?
Those planning on a public accounting career must do more than just learn accounting. To develop the essential skills a broad education background in business and non-business courses is required plus participation in extracurricular activities that promote leadership and communication skills. It is never too early to begin building the skills for long-term success.
The development of the personal computer (PC) in 1976 as well as its widespread use a decade later drastically changed the accounting systems of small and medium-sized businesses. The quality and number of accounting software packages for PCs and the power of PCs quickly increased. Soon medium-sized and small businesses could maintain all accounting functions on a PC. By means of the 1990s the cost of PCs and accounting software packages had decreased significantly accounting software packages had become more user-friendly and computer literacy had increased therefore much that many very small businesses converted from manual to computerized systems. though some small business owners still use manual systems because they are familiar and meet their needs and the persons keeping the records may not be computer literate.
Your knowledge of the fundamental manual accounting system described in these first four chapters enables you to better understand a computerized accounting system. The computer automatically perform some of the steps in the accounting cycle such as posting journal entries to the ledger accounts closing the books and preparing the financial statements. Though if you understand all of the steps in the accounting cycle you will better understand how to use the resulting data in decision making.
Q. Explain about Long-term investments? A long-term investment habitually consists of securities of another company held with the intention of (a) obtaining control of another
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o depreciation on the building has been recorded in 2016. Depreciation on the building is based on Double-Declining Balance. It was purchased on 1/1/15 and has an estimated useful
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
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The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Q. What do you mean by work sheet? The work sheet is a columnar sheet of a computer spreadsheet or a paper on which accountants summarize information needed to make the adjusti
At the end of this assignment, you will have: Identified the facts and accounting issues at AVE. Researched the appropriate accounting literature. Analyzed, interpreted,
I am expecting 50 growth because of the market size and consumers patronage, also because of latest product and service been introduced, also due to the competent working force wit
Q. Example of lower-of-cost-or-market method? A company may perhaps apply LCM to each inventory item such as Monopoly each inventory class (such as games) or total inventory. T
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