ACC 308 Ashford University Week 5 Accounting Reconciliation Process Discussion

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Part 1

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Why is it important to reconcile your accounts in a timely manner? What problems may be uncovered through the reconciliation process? Why is it just as important to track and reconcile business credit card accounts? What other accounting actions would you do at period end in QuickBooks? 400 words

Part 2

What is the difference between financial and managerial reporting? Discuss several of the reports available in QuickBooks. What would you look for in analyzing them, and why? How can ratio analysis be used to understand financial data and aid managerial decision-making? 400 words

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