ACC 280 Accounting Principles Paper

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ACC 280 Principles of Accounting Complete Course Purchase here Product Description ACC 280 ( Principles of Accounting)Complete Course All Assignments and DQs Week 1 Financial Statements Paper Prepare a 700-1,050-word paper in which you define the purpose of accounting and identify the four basic financial statements. Be sure to explain how they are interrelated with each other, any why they are useful to managers, investors, creditors, and employees. Week 2 Assignments from the Readings Prepare written answers to the following assignments from the text, Financial Accounting 6th ed: Chapter 1: 1) Exercise E1-1 2) Exercise…show more content…
What accounting assumptions necessitate the use of adjusting entries? What accounts are subject to adjusting journal entries? What are the advantages and disadvantages of using automated accounting systems to do adjusting entries? What are your thoughts on making adjusting entries; are they really needed or is this just extra work by accountants? Which basis of accounting do most companies use, cash or accrual? Why? Which method is approved by GAAP? Why? What are the positives and negatives of each? Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not? What transactions might fall under a dual method? When is the trial balance prepared? What is the purpose of preparing a trial balance? What does the trial balance tell you? What does the trial balance not tell you? Why not use the Trial Balance to report financial information internally and externally? What limitations does it have over formal financial statements? What is a fiscal year? What are the steps in completing the accounting cycle? Discuss the relationship between the amounts on the Adjusted Trial Balance for an account and its ledger? Discuss the relationship of the Adjusted Trial Balance and the amount on the Financial…show more content…
How does governmental accounting differ from both of them? What is forensic accounting? What are other career options are there in the accounting field? Which one sounds most interesting to you? Of the several regulatory bodies, which has the most affect on companies? Why? Do both public and nonpublic or not-for-profit organizations comply with the regulations of all regulatory bodies? Why or why not? Are there gray areas? How do companies assure compliance with regulations? How does your company comply? Any thoughts on how to streamline the regulatory process over accounting and finance? Of the several regulatory bodies, which has the most affect on companies? Why? What are some internal controls related to cash? Why is control over cash important? What are the pros and cons of segregation of duties over cash? Why is a bank reconciliation considered an internal control over cash? How does it provide control? What control violations might the bank reconciliation highlight? What aspect of this class did you find the most helpful? What would you change if you were given the opportunity? ACC 280 Principles of Accounting Complete Course Purchase

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