university of west florida eda6240
Question # 00681029
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Updated on: 05/04/2018 10:53 PM Due on: 05/06/2018
1. What are the primary purposes of an accounting system?
2. Universal use of standard accounts and terminology of the 1957 Handbook accomplishes several tasks. List four positive results of this universal use.
3. Briefly define the following:List the three functions of financial reporting.
a. Clearing accounts
b. Encumbrance accounting
c. Cost accounting
d. Accrual accounting
4. List the three functions of financial reporting.
5. What are the two central elements required in cost reporting?
List the four major parts of a school district budget.
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