Analyzing and accounting for business transactions, one has to acquire capability to identify the dual effects of each transaction has on the accounting equation. In analyzing business transactions, the bookkeeper must have an ample knowledge of the varied forms of values in the business transaction. And, identify the form of values received and the proper execution of the values parted with. Then, being able to assign the accounts title for this form of value received or parted with; know when to debit or credit the value received or parted with; and discern the consequences of business transactions in the accounting elements.
In accounting business transactions, the main task of the bookkeeper is usually to be in a position to journalize entries–identify, measure and record the business transactions and events transpired during an accounting period. Before a bookkeeper can journalize entries, he must obtain skills in analyzing the transactions. In bookkeeping, the ultimate aim in documenting transactions and occasions is to group the levels of every value of similar form in order to determine the total of each classified form of value for a particular amount of time. Each value is categorized regarding to accounting elements, namely, resources, liabilities, equity, revenue and expenses. It’s important to learn when to classify the expenditure whether an asset or expense.
Ignore the request since the concert has handed. To avoid putting blame, don’t use you statements that sound preachy. When denying claims, you should provide reasons before the refusal always, not after. Usually do not ignore claims because they’re not valid. Build goodwill by treating all statements seriously. What are your targets when sending a note that refuses credit? Check all of that apply.
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