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Author Question: Not all journal entries affect cash flow. Adjusting entries that reflect events that have already ... (Read 192 times)

futuristic

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on: Apr 8, 2019

Question 1

Who should provide the adjusting entries in a well-designed general ledger and reporting system?
◦ Various user departments.
◦ The treasurer department.
◦ Anyone who has access to the other major AIS subsystems.
◦ The controller office.

Question 2

Not all journal entries affect cash flow. Adjusting entries that reflect events that have already occurred, but have no effect on cash, are classified as
◦ accruals.
◦ deferrals.
◦ revaluations.
◦ corrections.
Accounting Information Systems ¦ Romney, Steinbart ¦ 14th Edition
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Marked as best answer by futuristic on Apr 8, 2019

raenoj

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Reply #1 on: Apr 8, 2019
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futuristic

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Reply 2 on: Apr 8, 2019
Thanks for the timely response, appreciate it

pratush dev

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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