Accounting often refers to a method of recording monetary transactions and directing management decisions of the company. Accounting records are required because it helps companies to draw more investors, thus, leading to further business development of the company. Students, pursuing accounting degree need to learn proper accounting techniques and fundamental theories and concepts. Writing assignments in different accounting subjects help the students gain the knowledge practically. But most of the students are ignorant about it. They think accounting assignment only adds burden to their academic load.
The major portion of accounting assignment is consumed by accounting calculations, which daunts the students most. Here we describe a simple accounting recording style that helps you in writing a good quality accounting assignment.
Generally, accounting assignment clearly explains the journal. The journals mainly comprise a date and certain information. Here we provide you an example that gets you clear idea of writing an account assignment.
How dates are used in assignments
Let’s say, you decided to buy a lamp over a telephonic conversation on 5th of March. But the paperwork was not completed until March 19. But the lamp was delivered on the 25th March, not on March 9. But now you are having second thoughts about the lamp. So you decided to return the item on 30th March. So when did the transaction take place? This example proves that how important it is to focus on the dates while writing assignments.
How accounts are used in writing
Accounts are an essential concern in accounting paper writing. Here is an example. Taking the above example of the lamp, let’s say you have bought the lamp for office decoration purposes which go into office furniture account. Moreover, you buy and sell antiques to your customers, so you can easily sell the lamp to one of your customers if you get a good offer. So instead of office furniture account, should the lamp be in the purchase account?
So, these are few basic questions that you need to find before writing the assignment. Sometimes, it becomes a problem for the students. That’s when students prefer to take help from assignment writers.
Some steps are involved in writing accounting papers. If you follow the steps, you will be able to create a quality paper. While you are asked to write accounting paper, you need to follow these steps:
Step 1 – Recognize the transaction from the source of a document like invoices, purchase orders, loan agreements.
Step 2 – Note down the transaction as a journal entry
Step 3 – Write down the entry in individual account ledgers. Traditionally, the accounts are maintained while keeping the debits on the left and credits on the right
Step 4 – Once you have reported the transaction, you focus on preparing preliminary trial balance of all accounts by assessing debit and credits in each account to calculate their balances. Make a total of the right and left sides, and make sure two sides are equal.
Step 5 – Therefore, adjust the entries which are not generated from individual sources such as depreciation expenses.
Step 6 – Create a trial balance of the accounts. Again, the left side and right side must be equal.
Step 7 – Make a total of the sum of the various accounts and present them in the financial statement. This statement is used for both internal and external use.
Step 8 – Wind up the books of the current month by recording all necessary entries and get ready to start fresh.
Despite knowing the subject and steps, it becomes difficult for students to complete their accounting paper. That’s when they think about taking help from experts. Apart from accounting writing help, students also can avail project management assignment help.
The good news is there are numerous writing service providers available on the internet which are ready to help the students round the clock without any fail.
