Accounting ethics

If someone were to ask you what you thought was the most deceitful profession, certified public accountants would most certainly not be the first to come to mind. That is because CPAs are known and respected for their honesty. The profession goes out of its way to project that image, and there is a certain […]

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The Importance Of Accounting

The Importance Of Accounting In Our Modern Society Accounting is a very important term to our modern society. It is the career for men and women who at the start have their eyes set on top positions in industry, management, government, and general business. Accounting is a basic need of every businessmen, from the operator […]

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Management Accounting, Roles and Innovations within Organizations

Introduction In today’s market, organizations manage to prosper and remain in the competitive environments of business through constant innovations. Management accounting has contributed a great deal in these innovations towards the organizations’ success. What is more, Steve Jobs once said that innovation distinguishes a leader and a follower. Additionally, change in today’s organization is inevitable […]

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Management Accounting and Analysis

Assessment of financial source The assessment of my financial budgetary planning was crucial in the first place in the process of making the budget for the last quarter of the year. As with most of the student in the universities and colleges, I only had limited sources of income. In the case of financial assessment, […]

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Decision Making with Managerial Accounting

Managerial accounting is the identification, collection, measuring, interpretation, and finally communication of accounting information. This information is used by managers of organizations to provide the bases of the organizational decision making. This is important in facilitation of the manager’s administrative and control roles. The roles of a managerial accountant in an organization are very crucial […]

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BITS 211

Excel stores spreadsheets in files called? The contents are located where? Workbooks; shown in the workbook window What displays the cell reference of the active cell? Name box This button is used to select all of the cells in the active worksheet. Select all button This is defined as the number along the left side […]

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C213 accounting quizes

Which of the following financial statements reports a company’s resources, obligations, and owner’s equity? Balance Sheet Which of the following financial statements reports the excess of a company’s revenues over its expenses? Income Statement Which of the following is NOT an external user of financial information? Management The organization that develops worldwide accounting standards is […]

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Accounting Chapter 6

Merchandise inventory is reported as a(n) current asset During the month, merchandise is sold for $80,500 cash and for $119,000 on account. The cost of merchandise sold is $101,500. What is the amount of gross profit? $98,000 The operating cycle of a business is comprised of a. purchase activity. b. sales activity. c. All of […]

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Accounting Chapter 4

Why do companies wait until the end of the accounting period to make adjustments to record related revenues and expenses in the correct period? Because recording many operating activities that take place over a period of time or several periods daily such as using insurance that has been prepaid or owing wages to employees for […]

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Accounting CH. 8

Journal entries recorded to update general ledger accounts at the end of a fiscal period are called adjusting entries adjusting entries are recorded on the next journal page following the page on which the last daily transactions for the month are recorded. True If the beginning balance of Supplies was $2,500 and the ending balance […]

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