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There are also a number of business transactions that are non-repetitive in nature, and so require the use of journal entries to record them in the accounting records. The fixed asset accountant , generalledger clerk , and taxaccountant are most likely to be involved in the use of journal entries.
The reports are highly customized to the needs of each entity, and may cover such topics as the sales of certain product lines, investigations of cost variances , sales returns , and an analysis of overtime incurred. Tax reports are issued to several government entities.
Related Courses CostAccounting Fundamentals What is Original Cost? Original cost is the price paid to initially acquire an asset. This cost is considered to include the cost to buy an asset, transport the asset to where it is intended to be used, install it, and test it.
Related Courses Credit and Collection Guidebook Bookkeeping Guidebook Budgeting CFO Guidebook CostAccounting Fundamentals New Controller Guidebook Payables Management Payroll Management Project Accounting Someone wanting to enter the accounting field can choose to train for a number of possible positions.
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