Journalizing, Posting, and Preparing a Trial Balance XACC/280 November 27, 2011 Journalizing, Posting, and Preparing a Trial Balance The general goals of financial reporting are to keep an accurate and ethical record of all financial transactions of a company, while maintaining integrity and adhering to the generally accepted principles of accounting. The steps I took in the recording process for this assignment were to first make journal entries to accurately depict all financial transactions for the fictitious company.
Don't use plagiarized sources. Get Your Custom Essay on
Xacc/280 Wk2 Assignment Journalizing, Posting, and Preparing a Trial Balance
just from $13,9 / page
The basic accounting equation (Assets = Liabilities + Owners’ Equity) is fully satisfied, and the financial information I was given is accurately reported. I once had a wonderfully wise employer who was a CPA. He told me that all we can do is report the numbers we are given by our clients. If it does not pass the “smell test” then we can bring it to the client’s attention, but we should never accuse them of attempting anything resembling fraud. Make copies of the information given to us by the client, and keep those copies in the client’s file
Remember. This is just a sample.
You can get your custom paper from our expert writers
Cite this page
Xacc/280 Wk2 Assignment Journalizing, Posting, and Preparing a Trial Balance. (2018, Jan 21). Retrieved from https://phdessay.com/xacc280-wk2-assignment-journalizing-posting-and-preparing-a-trial-balance/