What are the steps in completing the accounting cycle


Discussion:

Create a 100-200-word response to the following:

• What suggestions would you offer new employees to help them effectively communicate in your workplace when meeting face-to-face, sending an e-mail, and participating in a meeting?

• What do you consider to be the most important features of effective communication? Explain your choices.

Create a 150-200 - word answer for each of the following (bulleted) questions:

• What are the steps in completing the accounting cycle? How do the different steps affect the financial statements?

• What is the effect on the financial statements of missing a step when completing the accounting cycle?

• Are there any steps in the process that can be completed out of order? Explain your response.

• Give an example of a mistake that could cost a company lots of money when completing the acccounting cycle process.

• What are the four closing journal entries? Why are these necessary?

 

 

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