Define Inventory Discussion Paper
Areas of Focus:Define Inventory. How is inventory accounted for? What are inventory cost flow assumptions? What is the purpose of cost flow assumptions?
Define the Income Statement. What is the purpose of the income statement? What is a classified income statement?
Define Cash. Why is a bank reconciliation important? Consider other controls that ensure a company’s financial reporting is accurate.
Define Account and Note Receivables. Understand Direct Write-off vs Allowance.
B.08.03Focuses on inventory.http://www.principlesofaccounting.com/chapter8/chapter8.html
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