Maintaining financial records: Maintains financial records- prepares financial statements- preparation of accounting records and financial statements- regulations and accounting standards applicable to the financial statements- trial balance from accounting records.
Adjustments to accounting records and financial statements: Omissions and errors in accounting records- required adjustments will affect profits and/or losses- account reconciliations and suspense accounts- prepare an extended trial balance- prepare journals for nominal ledger.
Preparing financial statements: Components of a set of financial statements- key aspects of the accrual basis of accounting- present a balance sheet and income statement- accounting records and trial balance.
Questions and Answer Section:
- What are the differences between management accounting and financial accounting?