Completing the Account Cycle
This assignment focuses on the need for adjusting entries including:
- The difference between the cash and accrual bases of accounting.
- The concept of adjusting entries and how they are prepared.
- How to classify adjusting entries.
- The concept of asset depreciation and its effect on book values.
Download and complete the Week 3 Assignment Template [DOCX]
Submit your completed template to this assignment.
By successfully completing this assignment , you will demonstrate your proficiency in the following course competencies and scoring guide criteria:
- Competency 3: Prepare financial statements from accounting system data.
- Answer 4–5 accounting cycle questions correctly.
- Competency 4: Communicate effectively and professionally.
- Convey clear meaning through appropriate word choice and usage.