Revenue Recognition Materiality

Heidy Herrera

2. In a company, accounting records are very important because it helps us to have everything very well organized

Heidy Herrera

1. It is appropriate since it makes it easier for us to know and analyze what expenses and income we have in the company.

2. Margie Jisseth Murillo Lara

I believe that the accounting records should be updated in less than a month, the sooner each transaction or event is recorded, the more clarity and order we will have.

-Do you think it is appropriate to record income and expenses at the same time? why?

Yes, so we have an accounting of what we spend and what income we have

ANDRES FELIPE MORENO MAHECHA

1-If , it is appropriate why you can keep track of the finances of the company , and thereby know the situation you are in at the moment.

2-It is appropriate when current information is required in the accounting books or records, all the information from the accounting system of a company or business is joined in order to be up to date with situations.

1.I think it is appropriate, since this way we will have the record of what entered and left at the same time, so we do not have any complications

María Camila Rojas

1.if it is appropriate since it has an order and makes accounting easier to understand.

Rafael Fayad

The operations must be registered chronologically, the free positions must be made in the books at the latest in the month in which the following operations were carried out.

1.Margie Jisseth Murillo Lara

Yes, it is appropriate to keep a record of income and expenses at the same time as it allows us to control our finances, which in turn brings us benefits such as savings. Regardless of the income you receive, it is possible to keep track of expenses, this helps us determine if we are buying what you really need or not. Or investing in something really necessary.

MARY LUZ GUERRERO PARRA

1) yes, because it has inventory of what was bought and spent either for the house or a business.

2) it is good to update them every time they require it to know how all the records are going.

Rubén Guzmán

Because it helps us to know the behavior of the cash flow in the company, it shows you if you have excessive expenses, you will know how much you spend for each supplier and it gives you clarity to know in which areas you can save more.

each see that a purchase or sale is recorded or any type of expenses or income to keep a good accounting

Yes, because it allows us to see and analyze what we are spending more on if the accounts agree or not

I think it is appropriate to update the records as much as possible with every transaction.

Yes, it is appropriate because this is an effective way to keep the record as accurate as possible.

Paula Andrea Sánchez Urquiza

1.Yes, because this allows you to keep track of the finances of the company, since it establishes, if you are winning or there is an increase in your expenses.

Paula Andrea Sánchez Urquiza

2.accounting records must be updated regularly, in order to keep track of a company's transactions.

To record income and expenses, they do not have a registration order method, since it is recorded according to the need that the company is implementing in the registration of sales and purchase invoices.

DARLY KARINA CORDOBA A.

2).It is convenient to update the accounting records at the end of each month and to be able to verify the new expenses and income that arise in the company each month.

Paula Martinez

2- It is convenient to make the accounting records and the adjustments at the end of each month for the checking and realization of the new income, expenses and costs established by the company for the benefit of itself.

DARLY KARINA CORDOBA A.

1).If it is appropriate to record income and expenses at the same time and for those dependents to know if the company is having profits or losses, and to be able to balance expenses and income.

Paula Martinez

1- if it is appropriate because we can carry out a control of all the assets that come in and be able to carry out strategies so that our expenses decrease, in order to facilitate our financing.

Jorge Medina

I consider that at the time of each transaction carried out by the company.

Andrey Cuellar

1. If I think it is appropriate because we can have greater control of our assets and we can propose strategies so that our expenses are lower

2.The accounting records must be updated every time there is a new transaction or movement in our company.

-When should the accounting records be updated?

Every month, in order to more or less have the accounting of what expenses and we have

María Camila Rojas

2.It is appropriate to do it every period, that is, every 6 months or annually to avoid errors or inconveniences.

Rubén Guzmán

The accounting records must be updated as soon as an event of economic importance occurs to have control of what the company pays or charges.

2. The accounting records must be recorded for periods not exceeding one month and at the same time at the appropriate time indicated by the company.

Rafael Fayad

Keeping a record of personal or household income and expenses allows us to control our finances, which in turn brings benefits such as savings. ... Regardless of the income you receive, it is possible to keep track of your expenses, this helps you determine if you are buying what you really need or not.

Jorge Medina

It is the most appropriate since doing so on a daily basis I can have the exact record of income and expenses.

1. It is appropriate since with the accounting of expenses and income we can know if the company is making or losing money. This is why you need to regularly balance your income and expenses.