How Long to Read Accounting Instruction Reference #300

How Long Does it Take to Read Accounting Instruction Reference #300?

It takes the average reader 2 hours and 58 minutes to read Accounting Instruction Reference #300 by Bob Steele CPA

Assuming a reading speed of 250 words per minute. Learn more

Description

This book covers the adjusting journal process of financial accounting and the creation of financial statements, the creation of financial statements being the end goal of financial accounting, the product that the financial accounting system is designed to produce. Financial statements are the primary tool decision makers use when making financial decisions. Financial statements are the preferred format for financial data to be compiled. After normal business transactions have been input into the accounting system throughout a period, an adjusting process is often needed before the data is then compiled into financial statements, the adjusting process helping to covert financial data to a more perfect accrual system. The adjusting journal entries are often one of the most difficult areas of the accounting process for learners to understand, and is one of the most important topics needed for fully grasping accrual accounting concepts. A solid understanding of the adjusting process, and the reasons for the adjusting process, provides learners the tools needed to explain the difference between a cash basis and an accrual basis of accounting and the reasons an accrual basis is the preferred format for compiling accounting data. We will start our learning of the adjusting process with a review of topics covered in prior texts, including a description of the overall financial accounting process, and the rules for recording normal transactions. If you do not have an understanding of what financial accounting is, or how to record normal journal entries, it is recommended that you read our prior texts first, Accounting Instruction Reference # 100 and Accounting Instruction Reference # 200. We will then describe what the adjusting process, is and how to think about the adjusting process, how the adjusting process fits into the overall financial accounting process, and what makes the adjusting process different. Then we will explain the rules for adjusting journal entries, some being the same as those for all journal entries, but some differing. Next, we will discuss the adjusting process worksheet we will use in the adjusting process, and why a worksheet is needed. After that, we will list and explain the most common adjusting entries, providing practical examples for walking through the process of recording adjusting entries step by step. Finally, we will use the adjusted trial balance to construct financial statements, the balance sheet, the income statement, and the statement of owner's equity. We will demonstrate a step by step process for the creation of each financial statement, show how the financial statements are related, and explain how a trial balance, which has an equal number of debits and credits, must be convertible into financial statements that are, "in balance."

How long is Accounting Instruction Reference #300?

Accounting Instruction Reference #300 by Bob Steele CPA is 175 pages long, and a total of 44,625 words.

This makes it 59% the length of the average book. It also has 55% more words than the average book.

How Long Does it Take to Read Accounting Instruction Reference #300 Aloud?

The average oral reading speed is 183 words per minute. This means it takes 4 hours and 3 minutes to read Accounting Instruction Reference #300 aloud.

What Reading Level is Accounting Instruction Reference #300?

Accounting Instruction Reference #300 is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Accounting Instruction Reference #300?

Accounting Instruction Reference #300 by Bob Steele CPA is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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