Financial Statements

National Accounting Academy (NAM) is an accounting firm that fulfills the many outsourcing needs of small company bookkeeping and accounting functions. You have just been hired as a training coordinator at NAM. Your job is to create training manuals for NAM to help employees brush up their accounting skills.
Format:
Post your assignment to the Discussion Area by Saturday, November 16, 2013 in a 1-2 page memo (12 pt. font) prepared in a Microsoft Word document. Your job is to explain the following items to the new employees in its own respective paragraph. The memo should be single spaced and explain the following from this week- chapters:
Explain the accrual basis of accounting and the reasons and major types of adjusting entries. Explain how a trial balance is prepared and explain its purposes. Explain why a worksheet is used. Explain the process of closing the books. Describe the purpose of a post-closing trial balance. You may use the description in each of these bullet points to start the section. This will help the reader navigate though your memo. The reason for the memo style for this assignment is to prepare you for what can be expected of you in a work situation. Spend time on organizing your thoughts into meaningful sentences. You are not only going to be graded on your knowledge of the material but on the presentation and structure of the memo as well. Remember that each topic should have its own respective paragraph.
Participation:
Continue the discussion through the end of the week. By Tuesday, November 19, 2013, review and respond to at least two of your classmates' work, providing constructive feedback, suggestions, questions, and additional helpful information. Your are encouraged to continue these conversations until the last day of the week. Each peer response should be a minimum of 150 words. Information, comments, and conclusions should be supported by your research and sources. Keep the following in mind when you are responding to your peers: Did they discuss any thoughts that you had not considered? What did you learn from their post?
Grading Criteria Maximum Points Content Discussed the accrual basis of accounting and the reasons and the major types of adjusting entries. 5 Discussed how a trial balance is prepared and explained its purposes. 5 Discussed why a worksheet is used. 5 Explained the process of closing the books. 5 Discussed the purpose of a post-closing trial balance. 5 Format Submitted 1-2 page memo prepared in Microsoft Word with single-spaced 12 pt. font. Used standard rules of English spelling, grammar, punctuation, mechanics, syntax, and sentence construction to communicate ideas and opinions explicitly and clearly in writing. 5 Cited sources using the correct MLA format. 5 Participation Participated in the discussion by asking a question, providing a statement of clarification, providing a point of view with rationale, challenging a point of discussion, or making a relationship between one or more points of the discussion. 5 Responded to at least two assignments, posted questions and/or observations to enrich the discussion and displayed positive regard for others. 10 Total: 50