Prescott's ACC 371 Gotta Know's

Prescott's ACC 371 Gotta Know's - is normally comprised...

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PRESCOTT’S ‘GOTTA KNOW’s’ 1. The nine steps in the accounting cycle. 2. The ‘why’, ‘when’, and ‘how’ of adjusting entries. 3. The nine classifications of a classified balance sheet. 4. The format of a multiple-step income statement. 5. A good definition of ‘comprehensive income.’ Also know that comprehensive income
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Unformatted text preview: is normally comprised mainly of Net Income or Net Loss. 6. What does it mean to ‘capitalize’ an expenditure? 7. How do you determine the ‘market value’ of a noninterest-bearing note or a note with an unrealistic interest rate? 8. The definitions of the terms covered on page 39 of your text. 9....
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This note was uploaded on 12/09/2011 for the course ACC 371 taught by Professor Proscott during the Spring '11 term at S. Alabama.

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