What is a chart of accounts? Give an example of a coding system for identifying different types
Question:
What is a chart of accounts? Give an example of a coding system for identifying different types of accounts.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
A chart of accounts is a list of the accounts appearing in the general ledger ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
Question Posted:
Students also viewed these Business questions
-
What is a chart of accounts and explain its role in the budgeting process?
-
What is a chart of accounts?
-
What is a chart of accounts? What is its purpose?
-
Why would senior managers want to distort factor prices by using cost allocations?
-
Find the speed of sound for air at 20C, 100 kPa using the definition in Eq. 13.43 and relations for polytrophic processes in ideal gases.
-
Assume that Hill issues 10,000 shares of common stock with a $5 par value and a $40 fair value to obtain all of Lorings outstanding stock. How much goodwill should be recognized? a. 0. b. $15,000. c....
-
At a historic UN Summit in September 2015, world leaders adopted the 2030 Agenda for Sustainable Development. This agenda contains 17 sustainable development goals to be implemented by countries over...
-
DeGraaf Office Supplies is a national retailer of office supplies, equipment, and furnishings. The company opened its first store in 1932, in Columbus, Ohio. Currently, DeGraaf has 300 stores...
-
Which Python data structure is constructed using the code below? a = {"a": 1, "b": 2, "c": 3}
-
Consider the following. a. What is the duration of a two-year bond that pays an annual coupon of 11 percent and whose current yield to maturity is 12 percent? b. What is the expected change in the...
-
Why is the adjusting step of the accounting cycle necessary?
-
What is an adjusting journal entry?
-
A price-taking firm has total fixed costs of $40 and faces a market-determined price of $2 per unit of its output. The wage rate is $11 per unit of labor. Labor is the only variable input. Complete...
-
The Torricelli experiment is performed in an atmosphere of unknown pressure ( on Earth, is same gravitational force ) . The height of the mercury column, h , is measured to be 7 3 5 mm . What is the...
-
Perkins Western Boot Emporium currently owns four warehouses in Houston, Seattle, Minneapolis and San Diego to store its boots before shipping them out to various retail customers across the western...
-
According to interagency collaboration theories and models, what's the best way to reduce resistance in china ?
-
Four years ago, Rhett gave a life insurance policy with a $750,000 death benefit to his daughter, Marcelle. At the time of the gift, the value of the life insurance policy was $65,000, and Rhett paid...
-
A 1 0 . 0 - g bullet is fired into, and embeds itself in , a 1 . 7 0 - kg block attached to a spring with a force constant of 2 2 . 1 N / m and whose mass is negligible. How far is the spring...
-
Define the linear transformation Find a basis for the range of T, R(T). Is T surjective? 21 2 +533 73
-
The company manufactures three products: wooden chairs, tables and dressers. AFC started off as a 'Mom & Pop' shop but has grown rapidly. AFC uses one assembly line to build all three products,...
-
Selected financial data of two competitors, Target and Wal-Mart, are presented here. (All dollars are in millions.) InstructionsFor each company, compute these values and ratios.(a) Working...
-
A friend of yours, Ana Gehrig, recently completed an undergraduate degree in science and has just started working with a biotechnology company. Ana tells you that the owners of the business are...
-
A friend of yours, Ana Gehrig, recently completed an undergraduate degree in science and has just started working with a biotechnology company. Ana tells you that the owners of the business are...
-
Ending work in process units: 2,000 units * 60% = 1,200 units * 60% = 720 units Total equivalent units for conversion costs: 11,000 units + 720 units = 11,720 units why are you multiplying 60% twice...
-
Jennifer was self - employed and earned $ 2 7 0 0 of income. It is her only income for the year. Should she file a tax return. Yes, no and why?
-
Based on the variance for each group, do you believe that the assumption of equal variances of the two groups is a good assumption? Why or why not?
Study smarter with the SolutionInn App