TMUp 1st MCB

TMUp 1st MCB - Thai-Me Up 1st Quarter continued On a...

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Thai-Me Up 1 st Quarter continued On a Modified Cash-basis April 11, 2011
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Presumably, you have completed the 1 st quarter financial worksheet and T-accounts and verified that all your numbers are correct. We jumped-right-in and now you know that accounting is mostly about classifying numbers and recording them in certain places. Most transactions are routine and repetitive. But a few call for interpretation and judgment. This is where you’ll earn that fat paycheck. You want difficult situations because that is where your skills will shine. So pay attention. But relax because over-thinking will be a source of frustration.
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Basic accounting is mostly about classifying numbers and recording them in certain places: a)In a worksheet. b)On T-accounts. c)On financial statements: the Balance Sheet & Income Statement. This promotes accuracy and also provides different perspectives on the overall effect of the transactions on the company’s financial performance and position.
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This note was uploaded on 03/20/2012 for the course ECON 4 taught by Professor Willoughby during the Spring '08 term at UCSD.

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TMUp 1st MCB - Thai-Me Up 1st Quarter continued On a...

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