MyLifeDump

One of the most important steps in the preparation of financial statements is the obtaining of accurate inventory figures. There are a number of methods of keeping perpetual or book inventories, but a really accurate inventory can be obtained only by counting all the merchandise on hand - a physical inventory. If a book inventory [...]

Sorry for this late update, I was changing webhosts and so decided not to make another post until the dns had propogated (don’t worry if you don’t know what that means).
I got 13 in my Acctg 301 pretest out of 30. I first couldn’t believe it coz I didn’t guess a single thing [...]

The two key terms in accounting are Expenses and Revenues. This guide will provide you with the basics of expenses and revenues with examples and also tell you how to record expenses and revenues. Let’s first start by defining these two terms:
Expenses
It’s the cost of doing business. Without thse costs, a business cannot function properly. [...]

GAAP or Generally Accepted Accounting Principles is a body that provides the framework of guidelines for issues related to Financial Accounting. It includes the standards, rules and regulations accountants have follow in recording, and summarizing transactions, and in the preparation of financial statements.
The main goal is to make sure that a company’s financial informtion [...]

On 19th I am scheduled to take this Accounting 301 Pretest which is required if you want to enroll in any upper division accounting course, even if you have an Associates Degree in Accounting! I would really appreciate if anyone explained to me why !?!?!

It has 30 multiple choice questions and the passing score is [...]