Explain the need for reconciliation of cost and financial accounts.
Question:
Explain the need for reconciliation of cost and financial accounts.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (6 reviews)
Reconciliation of cost and financial accounts is a critical process in cost accounting that helps ensure the accuracy and integrity of a companys financial reporting It involves comparing and aligning ...View the full answer
Answered By
User l_973071
I have a Bachelor of Science degree with a focus on biological, social, and mathematical fields. Throughout my academic journey, I have gained valuable knowledge and practical experience in these areas, enabling me to develop a well-rounded understanding of the subjects.
In the field of biology, my education has equipped me with a strong foundation in various sub-disciplines, such as molecular biology, genetics, physiology, and ecology. I have gained hands-on experience in laboratory techniques, data analysis, and scientific research methods. This has allowed me to explore the intricacies of the biological world, from the microscopic level of cells to the broader ecosystem dynamics.
Regarding social sciences, my coursework has encompassed subjects like psychology, sociology, and anthropology. I have delved into the complexities of human behavior, societal structures, and cultural influences. This multidisciplinary approach has broadened my perspective on how individuals and communities function, interact, and shape the world around them.
Mathematics has been an integral part of my academic journey as well. Through my studies, I have developed a solid understanding of various mathematical concepts, including calculus, statistics, and algebra. I have honed my problem-solving skills and analytical thinking, which are essential in tackling complex mathematical and scientific challenges.
In addition to my formal education, I have also gained tutoring experience in these fields. I have worked as a tutor, assisting students with their coursework, assignments, and exam preparation. This experience has allowed me to effectively communicate complex concepts in a clear and concise manner, adapting my teaching style to suit the needs of each student. I find great satisfaction in helping others understand and appreciate the subjects I am passionate about.
Overall, my education and tutoring experience in the biological, social, and mathematical fields have shaped me into a knowledgeable and versatile individual. I am eager to continue expanding my expertise in these areas, while also sharing my knowledge with others to foster a deeper understanding and appreciation of the sciences.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Explain the need for closing entries and describe the process by which temporary owners equity accounts are closed at year-end.
-
Explain the need for subsidiary ledgers in accounting for merchandising activities.
-
Explain the need for time fences in the master production schedule.
-
A vessel is in the form of an inverted cone. Its height is 8 cm and the radius of its top, which is open, is 5 cm. It is filled with water up to the brim. When lead shots, each of which is a sphere...
-
The Al Khali Corporations copper mines contain 63 percent of the 23.2 million tons of copper in Saudi Arabia. The owners of the mining operation are willing to invest millions of dollars in the...
-
The City of Rochester will not accept applications for positions with the citys fire department and police department from persons over the age of thirty. The city also has a mandatory retirement age...
-
What is a product metric? Give an example. AppendixLO1
-
Hector Francisco is a successful businessman in Atlanta. The box-manufacturing firm he and his wife, Judy, founded several years ago has prospered. Because he is self employed, Hector is building his...
-
Sampling Risks The two (2) types of sampling risks auditors face include the risk of incorrect acceptance and the risk of incorrect rejection. What do each of these mean and how will each impact the...
-
Fill in the missing values in the table below: Nominal Interest Real Interest Rate Inflation ate 4 3 12 |
-
Prepare a Reconciliation Account from the following details: Profit as per cost accounts were of Rs. 59,700 while the profits as per financial accounts were of Rs. 60,000. The values of opening and...
-
The following transactions have been extracted from the financial books of a company: In costing books factory overhead is charged at 100% on wages, administration overhead at 10% of factory cost and...
-
P1-2 Balance sheet after an acquisition On December 31, Jose SA acquired Carlos SA by issuing 200,000 common shares with a par value of $10. The market value for these common shares was $10,000,000...
-
1- What is the chairman of the Texas State Board of Education's primary occupation? 2- Why are the decisions the Texas State Board of Education make about their high school science standards so...
-
SECTION 7 KEEPING ENTIRE STRUCTURES IN EQUILIBRIUM ASSIGNMENT #2 1. Find the reactions at A and C. A 2. Find the reactions at A and C. 60.0 kN B 3.00 9.00 4.00 6.00 5.00 kN 3.00 B 1.00 2.00 10.0 kN...
-
The year-end financial statements of Python Tax Services are provided below. Service revenue Expenses: Salaries Utilities Insurance Supplies Net income PYTHORT TAX SERVICES Income Statement $ 68,500...
-
a. Calculate the volume of the solid of revolution created by rotating the curve y=2+4 exp(-5 x) about the x-axis, for x between 2 and 4. Volume: b. The equation of a circle of radius r, centered at...
-
The simply supported timber beam of Figure 1 is made-up by gluing together three 300 mm by 150 mm planks as shown. The beam has to carry a uniformly distributed vertically downward load of 8 kN/m for...
-
Which of the following activities of a computer manufacturer during the current year are included in this year's measure of GDP? a. The manufacturer produces a chip in June, uses it as a component in...
-
Prepare a stock card using the following information A company is registered for GST which it pays quarterly, assume GST was last paid on the 30th of June 2019. It uses weighted average cost...
-
Transferred-in costs, weighted-average method. Asaya Clothing, Inc. is a manufacturer of winter clothes, It has a Knitting Department and a Finishing Department This exercise focuses on the Finishing...
-
Transferred-in costs, FIFO method. Refer to the information in Exercise 17-27. Suppose that Asaya uses the FIFO method instead of the weighted-average method in all of its departments. The only...
-
Transferred-in costs, FIFO method. Refer to the information in Exercise 17-27. Suppose that Asaya uses the FIFO method instead of the weighted-average method in all of its departments. The only...
-
Suppose First Fidelity Bank engaged in the following transactions: (Click the icon to view the transactions.) Journalize the 2018 and 2019 transactions on First Fidelity's books. Explanations are not...
-
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance Assets Cash Accounts receivable Inventory Plant and equipment, net...
-
Supply costs at Coulthard Corporation's chain of gyms are listed below: March April May June July August September October November Client-Visits 11,666 11,462 11,994 13,900 11,726 11, 212 12,006...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App