Accounts Terminology

------------------------------------------------- account statement Terminology: Common sense is a strange name for something so rare - Mark match Fra Luca Bartolomeo de Pacioli was an Italian mathematician and Franciscan friar, collaborator with Leonardo da Vinci, and germinal ratifier to the field now known as invoice. Summa de arithmetica, geometria, proportioni et proportionalita (Venice 1494), a schoolbook for use in the schools of Northern Italy. It was a deduction of the numerical knowledge of his time and contained the first printed work on algebra create verb bothy in the vernacular (i.e. the spoken language of the day). It is to a fault notability for including the first published description of the method of bookkeeping that Venetian merchants used during the Italian Renaissance, known as the double-entry account statement system system. Although Pacioli systematize rather than invented this system, he is widely regarded as the Father of Accounting. The syst em he published include most of the chronicle cycle as we know it now The Accounting Cycle array of Accounting period 1. array of raw economic data. 2. Transaction analysis- the terms for developing the accounting entries. 3. Journalizing - Original data inputs, chronological testify expressed in terms of debits and credits to particular account.(most computerized accounting system rotate the journal). 1.

Special Journal - allow for the plane section of labor. 1. sales Journal - based on sale invoices or ship sales. 2. Purchases Journal - for credit p urchases. 3. Cash Receipts - a! ll pass of notes are recorded 4. Cash Payments - for all cash payments. 5. coupon Journal - 4. Posting to ledger - reclassifying the in formation from the chronological format in the journal to an account classification in the ledger. 5. manipulate trial balance(unadjusted). 6. Prepare worksheets(adjusting entries). 2. Prepare financial statements...If you sine qua non to score a full essay, order it on our website: OrderCustomPaper.com

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