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Income Measurement & The Reporting Cycle The Accounting Cycle

Income Measurement & The Reporting Cycle The Accounting Cycle

In the second text in the comprehensive Accounting Cycle series, readers continue their study of accountancy by examining two important aspects: income measurement and the reporting cycle. This text follows up on the fundamentals of accounting that were laid out in Basics of Accounting and Information Processing. It is available as a free e-book to download here. In the first chapter, important income terminology is identified before readers are guided through the concept of measurement triggering transactions and events. Further topics in Part 1 (Income Measurement) include the periodicity assumption, payment and revenue recognition versus payment and expense recognition, the adjustment process, depreciation, and accruals. Moving on to Part 2 (the Reporting Cycle), readers are familiarized... Show More

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