Graded 100_Accounting+Cycle+Paper[1]

Graded 100_Accounting+Cycle+Paper[1] - Running head:...

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Running head: ACCOUNTING CYCLE PAPER 1 Accounting Cycle Paper Shelly Hall ACC/421 February 17, 2011 Beverly Halfacre
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ACCOUNTING CYCLE PAPER 2 Accounting Cycle Paper Like most large companies, Halliburton has a specific accounting cycle. The following paragraphs will discuss the cycle in detail as well as “people, processes, and systems that are integral to the cycle.” (University of Phoenix, 2011, p. 7). Accounting Cycle Halliburton is an energy services company who operates globally. Their corporate offices are currently in Houston, Texas; however, the birth place of the company is Duncan, Oklahoma, where I am located, in the Asset Accounting department. Since Halliburton is a large company and there are many areas, for this paper, I will use the example of equipment to explain the process from start to finish. First, the procurement department begins the process by receiving an order or invoice for a particular piece of equipment. The customer then agrees to pay said amount, then the purchase order and payment are sent to the accounts receivable process to enter the payment into the appropriate account. The receipts are entered into the gain/loss account to record the sale.
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Graded 100_Accounting+Cycle+Paper[1] - Running head:...

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