Who provides the adjusting entries for a well-designed general ledger and reporting system?
A) various user departments
B) the treasurer's area
C) the other major AIS subsystems
D) the controller's area

Question

Quizplus · Accepted Answer

The controller's area is responsible for providing the adjusting entries for a well-designed general ledger and reporting system. The controller's area is typically responsible for the overall management of the accounting function, including oversight of the general ledger and financial reporting processes. This includes ensuring that appropriate adjusting entries are made at the end of each accounting period to accurately reflect the financial position of the organization. While other areas, such as user departments or the treasurer's area, may provide input or information to help inform these adjustments, the ultimate responsibility for providing them lies with the controller's area.

Who Provides the Adjusting Entries for a Well-Designed General Ledger