Use project dataset and answer the following question​
February 24, 2021
Utilizing an Open-Systems Model demonstrate how your organization and its subsystems are organized and function
February 24, 2021

Acc205 Accounting Week 2 Discussion 1 and 2

Discussion 1

Financial statements are a product of the accounting cycle. Think about two different companies: a manufacturing company, and a retail company. Why would different companies have different accounting cycles? Would you expect the steps of the accounting cycle to be the same for each company? Why, or why not?
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What is the purpose of a bank reconciliation? What are the reasons for differences between the cash reported in the accounting records, and the cash balance in the bank statements?

Analyze several of your peers’ posts. Let at least two of your peers know what happens to the discrepancies between the book balance and the bank balance. Could these differences just be written off?

For a written transcript, please click here.

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