Write the General Ledger and Reporting General Controls used in companies to overcome the threats. (3...

Write the General Ledger and Reporting General Controls used in companies to overcome the threats.

Expert Solution

Answer:

General record and detailing are the procedure to set up the report that outline the aftereffect of association exercises.

One of the essential elements of this framework is to gather and sort out information from each of the bookkeeping cycle subsystems which give synopsis sections identified with the normal exercises in those cycles the treasurer, who gives passages regard to non routine exercises, for example, exchanges with leasers and speculators the spending office, which gives spending numbers and the controller, who gives changing passages.

The essential exercises in the general record and announcing are:

a. General record update.

b. Posting modifying sections.

c. Getting ready budget reports. also,

d. Produce administrative reports.

In the general record and detailing the correct game plans ought to be made to guarantee following destinations are made.

1. All recorder exchanges are precise.

2. All disclosures are full and reasonable.

3. All exchanges are appropriately recorded.

4. Every recorded exchange are legitimate.

ekkarill92 answered 2 months ago

1-. Write the General Ledger and Reporting General Controls used in companies to overcome the threats....

1-. Write the General Ledger and Reporting General Controls used in companies to overcome the threats. 2- Identify the three basic rules that apply to the REA model pattern Accounting Information System

1. Describe three threats in the general ledger and reporting system and identify corresponding controls for...

1. Describe three threats in the general ledger and reporting system and identify corresponding controls for each threat. 2. How is an audit trail used in the general ledger and reporting system? 3. Explain the benefits of XBRL.

A well-designed accounting information system should provide adequate controls in the general ledger and reporting system...

A well-designed accounting information system should provide adequate controls in the general ledger and reporting system (or any cycle) to ensure that control objectives are met. Discuss those control objectives.

Discuss the difference between the financial reporting system and general ledger system.

1) If the direct write-off method of accounting for uncollectible receivables is used, what general ledger...

1) If the direct write-off method of accounting for uncollectible receivables is used, what general ledger account is credited when a customer's account is written off as uncollectible? a.Accounts Receivable b.Uncollectible Accounts Payable c.Bad Debt Expense d.Allowance for Doubtful Accounts 2) If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account that had been written off on March 1, the entry to record the cash receipt after the account has been...

Please, Complete the following information, with short answers: - General Ledger and Reporting Cycle: - What...

Please, Complete the following information, with short answers: - General Ledger and Reporting Cycle: - What is its Purpose? What are its Resources? What are its Documents? What are its Reports? What is its Information? What are its Activities? What are its Sub-Processes? Diagram the Process with the Input & Outputs?

Explain how the transaction cycles and the general ledger/financial reporting system interact with the conversion cycle.

Required: 1. Record entries in the general ledger 2. Post to ledger T account 3. Prepare...

Required: 1. Record entries in the general ledger 2. Post to ledger T account 3. Prepare trial balance 1 Jan 1 Owner invested 50 into his business Jan 4 Billed customer for services totaling 40 on account. Jan 9 Purchased equipment for cash totaling 7 dollars Jan 16 Acquired land totaling 15 on account Jan 23 Paid the rent for the month of Jan totaling 6 dollars Jan 26 Received the telephone bill of 6 dollars which remains unpaid Jan...

Identify the 1 general objective of financial reporting. Describe the 3 specific objectives of financial reporting....

Identify the 1 general objective of financial reporting. Describe the 3 specific objectives of financial reporting. Explain the relationship between the objectives of financial reporting. Explain the Financial Accounting Standards Board (FASB) conceptual framework.

a) Approval of bad debt write-offs and the reconciliation of accounts receivable subsidiary ledger and the general ledger control account.

Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control: a) Approval of bad debt write-offs and the reconciliation of accounts receivable subsidiary ledger and the general ledger control account. b) Distribution of payroll cheques to employees and approval of employee time cards. c) Posting of amounts from both the cash receipts and the cash disbursements journals to the general ledger. d) Writing cheques to suppliers and posting to...

Question