AY Honor Accounting Requirements used by General Conference

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Accounting

Skill Level

3

Year

1938

Version

20.04.2024

Approval authority

North American Division

Accounting AY Honor.png
Accounting
Vocational
Skill Level
123
Approval authority
North American Division
Year of Introduction
1938
See also



Prologue: Complete a high school or college course in accounting OR the following requirements:

1. Show transactions necessary for acquisition or deposit of assets, and acquisition and disposal of liability. Show transactions necessary to close income and expense accounts at year end.

2. Be able to correctly classify balance sheet items with short term asset, long term asset, contra asset, short term liability, long term liability, and equity.

3. Be able to write an income statement from a trial balance.


4. Be able to reconcile bank balance to book balance in checking accounts, including deposit in transit, service charge, returned NSF, interest on account, and checks in transit.