Question
I have to reply to my classmate's post, which is listed below. I am stuck on how to answer my reply which is listed below.
I have to reply to my classmate's post, which is listed below. I am stuck on how to answer my reply which is listed below.
My classmate post
I believe a very important step in the accounting cycle would be preparing the post-closing trial balances. In my opinion this is a very important step because it's the last step of the process of closing everything out to get your ending balances and secure them. If this step was skipped in the process, I believe this could and would cause potential major financial and auditing issues. At my current job, at the end of the month we do" End-of-Month." This is where we close everything out so that when our public accountant comes to the office, we have all documents prepared for him to analyze and perform data entry. There are times when our accounts are off and our public accountant ask us to prepare different documents and retrieve different reports so that he can figure out why our accounts are not balancing out. Watching our public accountant and seeing what he does is what has truly pushed me to be an accountant. I am a very organized person and I feel like when it comes to accounting you definitely have to be organized. Another important step in the accounting process would be analyzing, analyzing is another thing I do often so I like to think I have some knowledge and qualities it takes to get the accounting process completed in a timely manner and properly. My mother was an accountant so she has explained to me that every point in the process is important because if you don't complete one step it can throw the rest off as well.
My reply
I agree with you, due to the last step is important to make sure you balance by the end of the month.
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