Maggie Mize Operates a Small Business and Uses a Manual

question 24

Essay

Maggie Mize operates a small business and uses a manual system of accounting. Transactions are entered in the general journal and posted to accounts in the general ledger at the end of the month. Although the volume of transactions has increased significantly in the past year Ms. Mize does not feel that it would be cost-effective to install an electronic accounting system. She hires you as a consultant to make recommendations about how to record transactions more efficiently. Briefly describe the principles that you would consider in making recommendations to Ms. Mize.

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Definitions:

Summarize

To provide a brief statement or account of the main points or highlights of a piece of writing, a discussion, or an event.

Organize

The action of arranging or structuring elements in a systematic way for efficiency or clarity.

Archival Research

A research method involving the study and analysis of historical records and documents to find patterns, trends, or information about past events.

Survey

A research method involving the collection of data from a predetermined group of respondents to gain information and insights on various topics.