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If you are looking for answers to Zenaida's accounting homework, then this blog post is for you. We will walk you through each of the processes that were used in this assignment and provide some helpful tips on how to do them correctly. What is an Accounting Process? An accounting process is something that has taken place within a company; it's an event or occurrence. Some of the most common accounting processes are: Assets, Liabilities, Income Statements, and Expenses. These can all be found in one standard textbook called "Financial Accounting by Spiceland 7th edition. I will be using chapter 12 as my study guide because it covers all of the processes that were used in the assignment. As you can tell, I took great care to go over each process with great detail before coming up with the answers. Fortunately, I found a book online by Mr. Smith that explains how to do all of these processes correctly. I recommend this book if you are struggling to write your own homework. How are these Accounting Processes Determined? They are not actually determined by an accounting firm unlike what many people believe. The processes are 'self-determined' by the individual business. This means that the company chooses which processes they want to use and how they want to use them. These processes are not set in stone either, they can be changed by the company whenever they choose. However, it is important to remember that whatever changes are made must be done in accordance with GAAP (Generally Accepted Accounting Principles). The Accounting Processes for this Assignment: Let's go over all of the processes that were used in this assignment so you can have a better understanding about what you are being asked to do. 1.) Recording Process - The first step of any accounting process is recording it. This is what is done via the recording process. In this assignment, the recording process was used to record all of the accounting terms that were being used in the problem. 2.) Reconciliation Process – The second step of any accounting process is a reconciliation. In this case, it was used to compare the Income Statement for a specific period with a specific budget that had been set up by a manager. 3.) Reviewing Process – This is what's called "debugging" in my book. It's used to look at past data and see if the numbers are correct or if there are any errors within them. 3.) Reporting Process – Reporting is one of the most important parts of accounting because it's how we can see what's going on within a company and assess the success of what they're doing. The reporting process was used to generate a financial statement that reflects data about a business or organization. 4.) Evaluating Process – This process is used to assess past performance and see if there were any errors within the one(s) that were made previously. 5.) Forecasting Process – This process relates to planning for the future, and it does this by making predictions about what will happen in the future based on current conditions or events; this is done by using previous performance as an indication for what's going to happen next. cfa1e77820
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