Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

2. Transaction Analysis

Journal Entries: Debits and Credits

Financial Accounting

2. Transaction Analysis

Journal Entries: Debits and Credits

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Multiple Choice

In the context of journal entries, the process of monitoring changes in the recording of disbursements is called:

Accrual accounting

Audit trail analysis

Depreciation tracking

Bank reconciliation

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Verified step by step guidance

Understand the context of the problem: The question is asking about the process of monitoring changes in the recording of disbursements, which refers to tracking and verifying financial transactions.

Review the provided options: Accrual accounting, Audit trail analysis, Depreciation tracking, and Bank reconciliation. Each term has a specific meaning in financial accounting.

Clarify the concept of 'Audit trail analysis': This involves tracking the sequence of financial transactions, ensuring that all changes in the records are documented and can be traced back to their origin. It is a key process for monitoring disbursements.

Compare 'Audit trail analysis' with other options: Accrual accounting deals with recognizing revenue and expenses when they are incurred, not necessarily when cash is exchanged. Depreciation tracking focuses on allocating the cost of an asset over its useful life. Bank reconciliation involves comparing the company's records with the bank statement to ensure accuracy.

Conclude that 'Audit trail analysis' is the correct term for monitoring changes in the recording of disbursements, as it directly relates to tracking and verifying transaction records.