Discussion Post
The goal of this discussion is to apply what you have learned while reading the chapter material and reviewing the PowerPoint presentation.
Keep in mind that this discussion question will help prepare you for future exams, so it is important that you understand the information and actively participate in discussions. To supplement your learning and enhance your understanding, you may also have to conduct research outside of course provided material.
Task
• Why must one understand accrual basis accounting and how does this process play a huge role in the adjusting entry process?
• What are the five types of adjusting entries? Define each type and provide an example of each.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.