This project was designed to review the basics of the articulation of statements, the ideas of systems,
Question:
This project was designed to review the basics of the articulation of statements, the ideas of “systems”, and the functionality of Excel.
You are asked to design a file with multiple sheets in order to prepare an Income Statement, Statement of Retained Earnings, and Balance Sheet. The sheets should be linked with only formulas in the cells (except for the datasheet). Please review the actual project which is posted under Assignments in the Project’s folder of the classroom.
Two articulation of statements videos from AC311 have been added to the week 1 assignment’s folder as a review for this project. Any financial accounting textbook will help with this project. If you took Intermediate Accounting at Bellevue University, the Articulation of Statements is in chapter 3 of your textbook. If you did not yet have Intermediate Accounting (not a prerequisite for this course) your financial accounting principles textbook will work – typically, in a principles course the articulation of statements is covered during the first 4-5 chapters.
Q) Is the above project a system? If yes, what type? Is it a type of cycle? If yes, which one is it? Explain
Expert Answer:
Yes the above project is a system because a system is always a set or collection of elements that ar... View the full answer
