Reference no: EM132827561

In the last workshop, we strengthened our knowledge of financial statements and how they could be used to support managerial decision making. In this workshop, we are taking a peek behind the curtain at the inner workings of the processes used to develop financial statements. This assignment will give you an opportunity to practice creating journal entries, T-accounts, and adjustments. The proper recording of transactions is the foundation upon which financial statements are built. By deepening our understanding of the processes which support financial statements, we can become wiser consumers of financial data and better decision makers.

Upon successful completion of this assignment, you will be able to:

Question 1: Understand the process used to record financial transactions.

Question 2: Evaluate the impact of various managerial decisions on a company's financial position.