7 week acct
The following is an excerpt from a conversation between two employees of Linquest Technologies, Don Corbet and Rita Shevlin. Don is the accounts payable clerk, and Rita is the cashier.
Rita: Sure, Don.
Don: Do you know Margaret, the fixed assets clerk?
Rita: I know who she is, but I don’t know her real well. Why?
Don: Well, I was talking to her at lunch last Tuesday about how she liked her job, etc. You know, the usual … and she mentioned something about having to keep two sets of books … one for taxes and one for the financial statements. That can’t be good accounting, can it? What do you think?
Rita: Two sets of books? It doesn’t sound right.
Don: It doesn’t seem right to me either. I was always taught that you had to use generally accepted accounting principles. How can there be two sets of books? What could be the difference between the two?
Instructions: Your initial response should be no less than 250 words with at least one scholarly journal reference (dictionary-type websites are excluded). Reply to at least two of your classmates. Replies to classmates should be a minimum of 100 words and include direct questions. In-text citations and references must be in APA format. Refer to the Forum Grading Rubric below for additional guidelines.