Introduction to Analyzing and Recording Transactions

Introduction to Analyzing and Recording Transactions


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Introduction to Analyzing and Recording Transactions At Berkshire you will find no 'big bath' accounting maneuvers or restructuring. And we won't 'smooth' quarterly or annual results: If earnings figures are lumpy when they reach headquarters, they will be lumpy when they reach you. Finally, when the numbers are a very rough 'guesstimate,' as they necessarily must be in an insurance reserving, we will try to be both consistent and conservative in our approach." - Warren Buffett An important part of accounting is being able to analyze and record the various transactions for a business. The initial accounting record of a transaction is entered in a journal before the data are entered in the accounts. A journal: Discloses in one place the complete effect of a transaction Provides a...

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Introduction to Analyzing and Recording Transactions

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Excerpt from file: Introduction to Analyzing and Recording Transactions At Berkshire you will find no 'big bath' accounting maneuvers or restructuring. And we won't 'smooth' quarterly or annual results: If earnings figures are lumpy when they reach headquarters, they will be lumpy when they reach you. Finally, when

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