Accrual accounting concepts◄Click here


After studying this chapter you should be able to explain the revenue recognition principle, differenciate between the cash basis and accrual basis of accounting, explain why adjusting entries are needed, and identify the major types of adjusting entries, prepare adjusting entries for deferrals and accruals, define the nature and purpose of the adjusted trial balance, explain the purpose of the adjusted trial balance, explain the purpose of closing entries, describe the required steps in the accounting cycle, understand the causes of differences between net income and cash provided by operating activities.
Via www.bitlib.net

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Posted on November 7, 2011, in Uncategorized. Bookmark the permalink. Leave a comment.

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