ACC 290T Wk 3 Discussion – The Accounting Cycle

Post a total of 3 substantive responses over 2 separate days for full participation.

Due Friday

An initial post must be posted by Friday. Please respond to the following questions:

What are the four steps of processing a transaction? What form do we create after the final step of all transaction processing is complete?

After these steps are all complete we prepare financial statements in what order? Why?

Due Monday

You may utilize your additional 2+ posts to reply to your classmates’ original posts. I also encourage you to post about any personal experience you might have with this week’s topic. Have you done any transaction processing at your job? What did it entail? How might those transactions you processed link up to the accounting system? What is your view of the accounting cycle? Does anything you do in your job contribute to any of these steps in the cycle? You can also utilize these posts to ASK questions! If you are unsure about any of the new terminology or any of the topics from the text, please use these discussions to learn.

EXPECTATIONS

There are no formal word count requirements for these posts, however, they must be substantive. This means I will not be counting the typical throw away post….. “I really like your post, Joe. It really helped me understand ____x__ topic this week”. You actually will need to add something meaningful to the discussion in order to get credit for participation in the discussions. TRUST me it will help.