Most account statement cycles argon similar, which means that they usu onlyy contain the alike(p) steps. However, the items and quite a little involved in each of the cycles vary. For example, a regular accounting cycle consists of identifying and recording transaction and other events, journalizing, posting, running spirited balance, adjusting entries, adjusting entries for accruals, adjusted trial balance, closing, post-closing trial balance, and reversing entries (Kieso et al, 2003). At the end of the cycle, star topology produces the relevant reports for the various users in the organization, or other users much(prenominal) as the government, lending institutions, and investors. My guild follows a similar expression; however, the company uses an accounting knowledge system that twainows it to manage gross gross sales representatives, customers, and inventory, production, accounts payable, and accounts receivables. The accounting cycle at my company starts with th e sales soulfulness making a sale. These sales people live completely across the country. Therefore, the usual way we receive an guild is via fax. However, in advance(p) customers, such as the major chain stores use both email or their own proprietary systems to let soul know us of an existing order in their system. These orders atomic number 18 the responsibility of Ivana, a thirty-five year old, Russian natural(p) immigrant.
all morning, she takes all the orders from the fax, email, and other locations, consolidates, checks them for errors and omissions, and then forwards the orders to Gloria, our order intro person. Gloria, who is also thirty-f! ive years old, is an African-American was born in Daytona Beach, Florida. She is one of the rare Florida born Floridians. Gloria is in burster of all data entry, which includes orders, receivables, payables, inventory, and invoicing. Once Gloria enters the orders, Ivana verifies the orders for accuracy. The order entry creates the information for the buyer, Jose, a fifty-three year old, Puerto Rican... If you want to get a overflowing essay, order it on our website:
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