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URL:https://www.learndesk.us/class/5446859986305024/financial-accounting-2-adjusting-entries-and-financial-statement?ref=outlook-calendar
SUMMARY:Financial Accounting #2: Adjusting Entries and Financial Statement
DTSTART;TZID=America/Los_Angeles:20260502T190000
DTEND;TZID=America/Los_Angeles:20260502T200000
LOCATION:https://www.learndesk.us/class/5446859986305024/financial-accounting-2-adjusting-entries-and-financial-statement?ref=outlook-calendar
DESCRIPTION: 
The adjusting entry process is a fundamental bookkeeping and accounting process but is often the accounting process most misunderstood.
Because of the name of the accounting adjusting entry process, we are led to believe that we are adjusting errors made by the accounting department. In other words, we may get the idea that the adjusting process would not be needed if the accounting department did their work perfectly through the period. This assumption of the adjusting process fixing errors is not the primary purpose for the adjusting process.
The adjusting process is a necessary part of the accounting cycle and one that is built into the accounting system. In other words, we plan for the adjusting process, and part of the plan is to enter normal accounting transactions in such a way that we will most easily be able to make adjustments at the end of the time period.
The adjusting process helps significantly with the understanding of accrual concepts because the adjusting process...

https://www.learndesk.us/class/5446859986305024/financial-accounting-2-adjusting-entries-and-financial-statement?ref=outlook-calendar
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