Reference and Legal Notices > Accounting Primer > Adjusting and Closing Entries > Operating Information

Operating Information

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Adjusting Entries

Cost of Sales

Depreciation

Accumulated Depreciation

Gains and Losses

Cost Allocations

Closing Entries

Using Accounting Information

Required Reports

Income Tax Accounting

Cash-Basis Accounting

Depreciation (ACRS)

Read the adjusting and closing entries overview

Accounting Primer Topics

Since most entities want to know daily how much cash they have to work with, they enter cash receipts and cash disbursements into the computer every day. If customers or others owe you money, you want up-to-date information on the status of their accounts. The Accounts Receivable module provides this information. Similarly, the Accounts Payable module provides information on the amounts you owe others. You will use this operating information in addition to the information reported on the monthly balance sheet and income statement.