Essay on Week 4 Reflection

Submitted By 6912josh

Words: 319

Pages: 2

Open Document

Week Four Reflection
Discuss the objectives for Week Three. How do they relate to the practice of accounting and its uses in business? Write a 350- to 500-word summary of your Learning Team’s discussion.
Introduction:
Accounting is the language for every business. It is the system that records all the financial transactions. Every quarter or at the end of the year there must be adjusting entries to ensure the balances match. The three adjusting entries to be made are the closing entries, reversing entries, and a post-closing trial balance. The classified income statement, balance sheet and dividends become a zero balance and transfer into the retained earnings. These three steps will ensure that the income statement, retained earnings statement, and balance sheet are finalized.

* An income statement, retained earnings statement, and balance sheet record assets, liabilities and revenue. An income statement takes the basic equation, revenue – expenses, to determine the company’s net income. The net income is then transferred at the end of an accounting period (usually annually) to retained earnings, which is visible on the balance sheet and the statement of retained earnings. Retained earnings statement presents the changes in equity for thse accounting period. The primary change in equity is from the net income reclass as previously discussed, but there will be other changes as well. These other changes could include a distribution of income or possibly the

Week 4 Reflection Redlines Essay

Week Four Learning Team Reflection Team B: Rhea Carson, Dusty Henson, Matthew Cable, Joseph Spurling University of Phoenix HRM/531 Human Capital Management Dr. George R. Monk December 9, 2014 Week four learning team reflection The team discussion of the individual assignment includes the understanding and importance of aligning the performance of the employees to the organization business objectives. The team discussion refers to the need of companies training and development of employees to…

Words 664 - Pages 3

Week 4 Reflection Essay example

Week Four Team A Reflection Every part of the accounting cycle is important to running an effective business. Preparing closing entries, reversing entries, and the post-closing trial balance ensure clear and accurate financial reporting. Closing entries essentially reset the balance to zero on all temporary accounts to begin the new reporting period. Reversing entries are made at the beginning of every new reporting period to adjust entries made in the previous accounting period. These types of…

Words 481 - Pages 2

QNT 351 Week 4 Reflection

Week Four Reflection Grace Fuller, Akil Joseph, Gina Moore, James Ray University of Phoenix QNT/351 Instructor: Eugene Hewett 04/06/2015 Week Four Reflection In this reflection Learning Team A will discuss the steps in testing a research hypothesis, comparing means of two or more groups, and calculating that correlation between two variables. Learning Team A will also discuss which topics the team members excelled in as well as which topics were more difficult for team members. Lastly, Learning…

Words 1130 - Pages 5

Essay on American Television Evangelists and Joni Table Talk

4/23/13 Legacy Schedule | Daystar Television Network - Legacy You are currently viewing week of: April 21, 2013 to April 28, 2013 (GMT +12) Auckland, New Zealand Select Time Zone Friday Saturday Time 12:00 AM 12:30 AM 01:00 AM Sunday Monday Tuesday Wednesday Thursday The Way of the Master Reflections Reflections Reflections Reflections Reflections Reflections Reflections Reflections Reflections 01:30 AM Joseph Prince Joseph Prince Joseph Prince…

Words 1111 - Pages 5

Hcmg730 Full Course (All Discussion, Reflections, Case Analysis and Final Assessment) Essay

HCMG730 full course (all discussion, reflections, case analysis and final assessment) Click Link Below To Buy: http://hwcampus.com/shop/hcmg730-full-course/ Week 1 Discussion Question 1 “Because Congress passed ARRA after passing HIPAA, any conflicting provisions between the two statues will be governed by the provisions of ARRA. The two statues can be reconciled because of a provision in ARRA that states any HIPAA statutory provision or regulation remains in effect to the extent that it…

Words 2080 - Pages 9

Tree ID Essay example

the professor know that you have arranged your test as soon as possible (it MUST be at least a week before the exam is to take place), so that the exam can be forwarded to the appropriate person in time. Personal Responses - 10% Projects - 50% Part 1: Getting started - 10% Part 2: Action - N/A Part 3a: Team PPT - 25% Part 3b: Class Share - 5% Part 4a: Participation - 5% Part 4b: Reflection & Critique - 5% All components of the project MUST be completed, or you will receive a mark of…

Words 1687 - Pages 7

Cousrse Calendaer Essay

***There will be a two-week Winter break from 12/24/12 until 1/6/13. Classes will resume Monday, January 7, 2013. Enjoy the Winter break!*** (The two-week break is incorporated in the Course Calendar.) | Monday | Tuesday | Wednesday | Thursday | Friday | Saturday | Sunday | | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Day 6 | Day 7 | Week 1 | 11/26/2012 | 11/27/2012 | 11/28/2012 | 11/29/2012 | 11/30/2012 | 12/1/2012 | 12/2/2012 | US/101 | | Post Bio | Participate with at least 2 substantial…

Words 524 - Pages 3

06 03 wellness Essay

Wellness Plan Fill in all logs and answer the reflection questions completely with supporting details. Section 1: Goals Include your goals for each area of wellness before completing the reflection questions. 1. Physical- I will start going to tennis practice again. 2. Social-I will continue the prices of creating a model Un team 3. Emotional-I will start working on my summer goal 4. Academic- I will wrap up this school year with all A’s Goal Reflection Questions: 1. Which goal’s progress makes…

Words 1321 - Pages 6

ACC 291 Week 1 Discussion Question 1 Essay examples

This file ACC 291 Week 1 Discussion Question 1 comprises solution of these problems: "How would you describe the entries to record the disposition of accounts receivables? What is their function?" Business - Accounting ACC 291 All Week 4 Assignments - Individual WileyPlus Assignment Includes: Week 4 Chapter 13 practice quiz 1 Week 4 Chapter 14 Practice quiz 1 Week 4 reflection summary Week 4 Discussion questions 1 and 2 Week 4 Individual WileyPlus assignment as…

Words 690 - Pages 3

Essay about Devry Busn 369 Entire Course and All Discussions- 2015 Spring

Work then Click The Link Below For Instant Down Load http://www.hwspeed.com/Devry-BUSN-369-Entire-Course-And-All-Discussions-2015-spring-1111119025.htm?categoryId=-1 IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM Question week 1 Globalization While many domestic institutions play an important role in the globalization process, describe three fundamental policy measures that those countries need to promote in order to benefit from globalization. How would these policies…

Words 2168 - Pages 9