Accounting Tools

OCTOBER 9, 2023

Related Courses The Balance Sheet The Interpretation of Financial Statements Current assets are located in the beginning of the assets section of the balance sheet. This part of the balance sheet contains those assets most easily convertible into cash in the short-term. Accounts receivable. Marketable securities.

Petty cash 40

Petty cash Financial Statements Collections Accounts Receivable 40

Accounting Tools

JUNE 8, 2023

Source documents are typically retained for use as evidence when auditors later review a company's financial statements , and need to verify that transactions have, in fact, occurred. Cash Register Tape A cash register tape can be used as evidence of cash sales, which supports the recordation of a sale transaction.

Petty cash 75

Petty cash Invoicing Bookkeeping Reconciling 75

Accounting Tools

OCTOBER 3, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook A three digit chart of accounts allows a business to create a numerical sequence of accounts that can contain as many as 1,000 potential accounts. A sample three digit chart of accounts is shown below.

Petty cash 40

Petty cash Computation Accounting Accounting 40

Accounting Tools

APRIL 16, 2023

The chart is used by the accounting software to aggregate information into an entity's financial statements. The chart is usually sorted in order by account number, to ease the task of locating specific accounts. The accounts are usually numeric, but can also be alphabetic or alphanumeric.

Petty cash 40

Petty cash General Ledger Accounting Accounting 40