Examples of Accounting Cycle in a sentence
Concepts of Asset, Cost, Expense, and Loss; Classification of Costs; Cost Centre and Cost Unit; Cost Object; Cost Accounting Cycle; Factory Cost Flow; Statement of Cost of Goods Manufactured and Sold; Income Statement.
UNIT-I: ACCOUNTING PROCESS:Financial Accounting: Introduction – Definition – Evolution – Functions-Advantages and Limitations – Users of Accounting Information- Branches of Accounting – Accounting Principles: Concepts and Conventions- Accounting Standards– Meaning – Importance – List of Accounting Standards issued by ASB -– Accounting System- Types of Accounts – Accounting Cycle- Journal- Ledger and Trial Balance.
The course begins with a quick review of the Accounting Cycle and the financial statements for a Sole Proprietorship.
P&I Determination Date/All-in Reporting: The date by which the Servicer is required to report a loan level record for each loan in its portfolio, and the date that Freddie Mac will calculate the draft of the actual principal that has been collected and successfully reported for the current Accounting Cycle.
Syllabus: Unit-I – IntroductionNeed for Accounting – Definition – Objectives, – Accounting Concepts and Conventions – GAAP - Accounting Cycle - Classification of Accounts and its Rules – BookKeeping and Accounting - Double Entry Book-Keeping - Journalizing - Posting to Ledgers, Balancing of Ledger Accounts (including Problems).Unit-II: Subsidiary Books:Types of Subsidiary Books - Cash Book, FOUR-column Cash Book- Petty Cash Book (including Problems).
The purchase of Shares pursuant to the KO Call Right shall be consummated (the “KO Call Closing Date”) on the last day of the applicable monthly accounting period of TCCC (the “Accounting Cycle End Date”), which Accounting Cycle End Date shall be no earlier than 10 days after the date on which the KOP Fair Market Value is finally determined in accordance with this Agreement.
UNIT IV BASICS OF ACCOUNTING 9 hoursUses of Accounting - Book Keeping Vs Accounting - Double Entry System - Accounting Principles- Classification of Accounts - Rules Of Debit & Credit- Accounting Cycle: Journal, Ledger, Trial Balance.
Nature of Accounting Information: Scope of Accounting, Accounting concepts, Principles & Standards, Accounting Cycle, Journalisation, Subsidiary Books; Ledger Posting, Preparation of Trial Balance, Rectification of Error.
The Accounting Cycle is a process that involves the analysis of a company’s economic events, the measure- ment and recording of the effects in the accounting system, and the reporting of the aggregate effects in financial statements.
UNIT IV BASICS OF ACCOUNTING 9 hoursUses of Accounting - Book Keeping Vs Accounting - Double Entry System - Accounting Principles- Classification Of Accounts - Rules Of Debit & Credit- Accounting Cycle: Journal, Ledger, Trial Balance.