15 Feb An example of a transaction that may have started during a period but has not finished by the end of the period is debt that is to be paid fully by the end of the year and are in t
An example of a transaction that may have started during a period but has not finished by the end of the period is debt that is to be paid fully by the end of the year and are in the process of going through. Another example would be purchased that are made with the use of something such as a company credit card. The thing would have to go through a process on both ends which is something that has to be accounted for. As a manager of a business, it is important to make sure that adjusting entries are made since it is important to accurately record and report things as part of your financial activities. Inaccurately adjusted financial statements can have a truly negative report on your overall business in carrying capacities which means that it is even more important as the manager someone in that leadership position that things are done correctly. All of this ensures that the business is able to still operate and function properly into the next ongoing period and hopefully further after.
what would be a good response to the above?
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