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The short-run macro model is used most often to determine changes in
Journalized
The process of recording financial transactions in a company's journal, detailing the accounts affected by each transaction.
Adjusting Entries
Are journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred, for the purpose of financial reporting accuracy.
Financial Statements
Documents that present an organization's financial activity and current financial condition, including the balance sheet, income statement, and cash flow statement.
Nominal Accounts
Accounts that are closed at the end of each accounting period, including revenue, expense, and withdrawal accounts.
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