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Accounting Work: Accounting Cycle Essay

1129 words - 5 pages

The accounting cycle for some organizations can be the same ordifferent depending on the type of organization. Within a schooldistrict, such as North Merrick Union Free School District, theaccounting cycle is geared around the spending per child. It is also anot for profit organization; this differs from an organization in whicha profit is the goal of the company.Being employed as a Special Education Teacher Aide I don'treally have access to the whole accounting process. I do see a portionof the process such as the time sheet for my hours worked and the finalresult of my paycheck.Organizations do go through an accounting process in order todefine and pay for their expenses.The accounting ...view middle of the document...

The steps in which a school district goes through begins withthe purchase of a product such as supplies and books or expenses such assalaries, education for employees, or utilities. Purchase order would beused to order supplies and various invoices would be utilized to keeptrack of salaries, education other expenses. Before the accountingprocess can begin within a school district a budget must be created.Businesses as well as school districts must stick to a budgetfor their expenses. Each year a budget is proposed for the upcoming yearand members of the community are encouraged to vote to approve thebudget. If a budget passes school necessities such as employees'salaries, educational tools, utilities and a variety of other activitiescan be generated. If the budget is not passed some requirements ornon-necessities will have to be re-evaluated.This past year North Merrick Union Free School District's budgethas passed and therefore the accounting process continues. Even thoughthe budget has passed various first need to be approved by the schoolboard. The school board will ensure that the tax payers' money is beingspent properly and for the correct reasons.There are three elementary schools with the North Merrick UnionFree School District; each school has a principal who receives variousinvoices, time sheets, and purchase order which must be approved beforebeing sent to the business office. At the business office thesuperintendent has the job of looking over these requests and signingoff and approving requests. The business office has the job of keepingtrack through...

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