Accounting 3

ACCOUNTING DEPARTMENT RESPONSABILITIES & FUNCTIONS[functions-*gathering financial info**prepare&collect permanent record**rearrange, summarize&classify financial info**prepare info report&summaries**establish control to promote accuracy&honesty among employees*]responsible of/PAYROLL/[total wages&salaries earned by e/employee every paid period (gross wages)*stubs*report various info to employee e/payroll check*payroll is a complex&critical function*]/CASH COLLECTIONS/[cash received from sales& other resources, be record.Make sure cash is deposited correctly]/CASH PAYMETS[disbursements, business writes check during course of 1 year to pay variety of purchase]PROCUREMENT AND INVENTORY[keep track of all purchase orders that have been placed for inventory]PROPERTY ACCOUNTING[typical business owns many substantial long-term assets (property) include office furniture and equip]