accounting

alvrez5
week1D.BOARD.docx

1-Describe the nature of a business, the role of accounting, and ethics in business, & Describe and illustrate the use of horizontal analysis in evaluating a company’s performance and financial condition.

2-Describe the nature of the adjusting process.

3-Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements. 

4- Describe the importance of control over inventory, & Describe three inventory cost flow assumptions and how they impact the income statement and balance sheet.

5-Describe and illustrate the use of a bank reconciliation in controlling cash, & Describe the Sarbanes-Oxley Act of 2002 and its impact on internal controls and financial reporting.

6-Describe the common classes of receivables, & describe the accounting for uncollectible receivables.