When Your Accounting Figures Don't Add Up

One incorrect journal entry can affect several financial statements. Trace the figures back to their source and understand how each adjustment changes the final accounts.

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Accounting Subjects We Cover

Pick the area your assignment falls under: financial accounting, auditing, cost accounting, or managerial accounting.

Financial Accounting

A trial balance that is out by a round figure points to a different cause than one that is out by nine. A tutor can trace the imbalance back to the posting that created it.

Double-Entry Bookkeeping Trial Balance Preparation Accruals & Prepayments Income Statement Classification Depreciation Methods Cash Flow Preparation

Auditing

A procedure can be performed correctly and still evidence the wrong assertion, which is where audit planning marks are lost. A tutor can map each procedure in your file to the assertion it supports.

Audit Risk Model Assertions & Audit Procedures Materiality & Performance Materiality Internal Controls Evaluation Substantive Testing Audit Sampling

Cost Accounting

Equivalent units are where process costing usually breaks, because closing work in progress has to be adjusted for completion before the schedule balances. A tutor can rebuild that calculation from the production data.

Process Costing & Equivalent Units Marginal vs Absorption Reconciliation Standard Costing & Variance Analysis Cost-Volume-Profit Analysis Overhead Absorption Job & Batch Costing

Managerial Accounting

A correct NPV or variance analysis still loses marks when the recommendation does not follow from it. A tutor can test whether your relevant costs are genuinely differential and which figure the decision should rest on.

Relevant Costing Make-or-Buy Decisions Limiting Factor Analysis Flexible Budgets Transfer Pricing Methods Capital Budgeting

Need Help With Your Accounting Assignment?

Share the brief, the deadline, and the step that is not working. We will review the details and point to the assumption or calculation that needs attention.