ACC205 week 2 DQ

DQ 1 Accounting
Cycle
Financial statements are a product of the accounting
cycle. Think about two different companies: a manufacturing company, and a
retail company. Why would different companies have different accounting cycles?
Would you expect the steps of the accounting cycle to be the same for each
company? Why or why not?.0001pt;line-height:200%;background:white”>DQ 2 Bank
Reconciliation
What is the purpose of bank reconciliation? What are the
reasons for differences between the cash reported in the accounting records and
the cash balance in the bank statements? Analyze several of your peers’ posts.
Let at least two of your peers know what happens to the discrepancies between
the book balance and the bank balance. Could these differences just be written
off? .0001pt;line-height:200%;background:white”>