Please respond to one of the following topics. Post your initial response by Wed

Question

Please respond to one of the following topics. Post your initial response by Wednesday and then interact with at least two of your classmates about what they have posted by Sunday.

TOPIC 1: Explain an example of recording an expense that does not require cash disbursement, or of recording a cash disbursement which is not an expense. How would you explain these differences to somebody who has never taken an accounting course?

TOPIC 2: Your friend presents the following criticism of the accounting system: "Accounting involves so much duplication of effort. First, entries are recorded in a journal; then the same information is recorded in a ledger. No wonder accountants work such long hours!" Do you agree with this criticism? Explain.

Explanation / Answer

i will explain about the second topic.

accounting is not an activity, it is a process which includes more steps. if you want to get purity, we should use a purifier or distilled the water. in the same way, in accounts to get the final (quality or reqired) figure with accurate we should follow the process and cross all the stages. then only we get the correct numbers which can be facts. so, do not think that it is the duplication of work, it is processing of work.

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