LE. What are the main activities and please explain how each of those activities are performed in the business process/transac

Q: GENERAL LEDGER/REPORTING SYSTEM. Please explain how each cycles in the business process/transaction…

A: General Ledger Reporting system The preparation of the general Ledger is one of the important…

Q: Describe the Accounting Processing Cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: (a) What is the most important output of the accounting cycle? (b) Do all companies have an…

A: (a) Explain the most important output of the accounting cycle. Financial statements such as income…

Q: Which of the following is a feature of the transaction file? Conceptually similar to the ledger in…

A: A transaction file is the file which contains the list of transactions. It is used to update the…

Q: Explain the accounting processing cycle.

A:

Q: Describe the steps in accounting processing cycle.

A: The accounting cycle is the holistic process of recording and processing all financial transactions…

Q: Explanation of a business's accounting function. What is the function's purpose, and why is it…

A: INTRODUCTION: Accounting is the discipline of recording and reporting on a company's financial…

Q: What processes are used to be able to ensure that all related financial details are allocated for…

A: For being able to make sound business decisions it is very important to ensure that all the related…

Q: Describe the effect of each transaction on the basic accounting equation.

A: Accounting equation:   Accounting equation is an accounting tool expressed in the form of equation,…

Q: What are the outputs of the accounting cycle, why are they important and how are they interrelated?

A: Outputs of the accounting cycle-First of all, we need to understand what is an accounting cycle.  An…

Q: Why is a company's accounting cycle so important? It is necessary to provide instances of why…

A: The financial accounting cycle of a firm refers to the whole process of recording and processing the…

Q: The important information services functions of the general ledger and business reporting (GL/BR)…

A: GL/ BR stands for General ledger and business reporting process which is an interacting structure…

Q: Accounting deals with

A: First option is wrong because accounting includes measurement of transactions into monetary value…

Q: organization chart is

A: Organizational chart represents it's structure and defines the relationship between each executives…

Q: Explain how accounting is treated as the language of business. Cite a concrete example.

A: Meaning of Accounting Accounting is the systematic recording of the day to day transactions of a…

Q: Explain an example of accounting process cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: How does accounting provide important data to a. Internal users b. External users

A: The process by which financial transactions of the business are recorded and communicated with the…

Q: What is the main fundamental operation in Accounting? Explain the process

A: Accounting: Accounting is the practice of keeping track of a company's financial activities.…

Q: of accounting information

A: Accounting Cycle-:The Accounting Cycle is a time duration that is made to make financial accounting…

Q: Typically accounting tasks include all off the following tasks except

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Explain the importance of a business report.

A: A business report is a report or a document which is essentially includes an array of data and…

Q: Prepare an entity relationship diagram, in good form, for the expenditure cycle, which consists of…

A:

Q: What would your process be to ensure that all related financial details are allocated for and…

A: The accounting information or financial information is required for making sound business…

Q: How do a company's operations and lines of business affect the architecture of its accounting…

A: SOLUTION  AN ACCOUNTING INFORMATION SYSTEM IS A SYSTEM OF COLLECTING , STORING AND PROCESSING…

Q: mples where accounting is used as aid in performing the management funct

A: Basic Accounting Concept  Management Information System

Q: Analyze business transactions using the accounting equation.

A: Accounting equation is based on double entry system of accounting which says that for every…

Q: different forms of business organization and the activities performed by each

A: Different forms of Business Organisation and the activities performed by each are discussed…

Q: What effect do a company's business operations and areas of business have on the architecture of its…

A: The following will illustrate how a company's business procedures and areas of business impact the…

Q: How many steps are there within the Business Operation Cycle

A: This operating cycle is necessary to estimate the working capital of the company. Working capital is…

Q: Describe the flow of accounting information from the business transaction to the ledger.

A: The accounting process includes identifying, recording and classifying the business transactions.

Q: are the main activities and please explain how each of those activities are performed in the…

A: Transaction Process: Transaction process system helps a business to process all the transactions…

Q: Accounting is the information system that Measures business activities. Communicates the results to…

A: " All of the above is the correct option" as accounting is the information system that examines the…

Q: Components of an accounting information system Measures working people hardware all of the above

A: The accounting information systems records and process both the financial and non financial…

Q: Why is the accounting cycle important to business? (specific examples needed of why certain steps…

A: Accounting cycle: The accounting cycle refers to the entire process of recording the accounting…

Q: Explain the accounting function of a business. What is the purpose of this function, and why is it…

A: Accounting responsibilities: Accounting functions may be divided into two categories: managerial…

Q: Give one specific example of accounting is a process that is applied in daily operations of business

A: Accounting is the method of recording and analyzing financial transactions in a business to estimate…

Q: Discuss what is meant by the statement, “The accounting system is a conceptual flow of…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…