Inventory methods, Fist in first out (FIFO), Last in last out, (LIFO), and average calculation and comparison.v
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Posts in the Financial Accounting category:
500.30 Merchandising Financial Statement Creation from Adjusted Trial Balance
Merchandising financial statements including multiple step income statement and accounts related to inventory.
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500.20 Merchandising Transaction
Merchandising transactions adding transactions related to inventory and accounts related to inventory, cost of good sold (COGS), sales discount, purchase discount. . .
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400.10 Closing Entries 2 Step And 4 Step Process
Closing entries journal entries to close out temporary accounts, including all income statement account, to equity accounts.
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300.30 Financial Statement Creation From Adjusted Trial Balance
Adjusting entry transaction, journal entries at the end of the accounting period to adjust account to accrual basis as of the date of financial statements.
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300.10 Adjusting Entry Transactions
Adjusting entries as of the end of a period, needed to put trail balance on accrual bases as of the date financial statement well be prepared.
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200.10 Transactions Debits & Credits Cash, Accounts Receivable, Accounts Payable
Recording normal business transactions related to cash, accounts receivable, and accounts payable, using debits and credit, discussing the effect on the accounting equation of assets liabilities and equity
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56805 – Audit Reports, Audit Completion
Audit reports including standard unqualified report and variations including qualified report
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56605-Audit- Cash & Financial Investments
Audit of cash and financial investments including cash equivalents, stocks, and bonds
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56505-Audit-Long Term Liabilities, Stockholders’ Equity, Income Statement
Audit of long term liabilities, Stockholder’s Equity, and the income statement including internal controls and substantive tests
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