The purpose of this assignment is to select a step in the accounting cycle that is not currently automated at one of our team members' organization. The place of business we have selected is an independent financial brokerage firm, LPL Financial. The firm places a strong emphasis on the recruiting of established financial advisors throughout the country. When a financial advisor joins LPL Financial, so does their clients. One of our team member's works in the transfer department. The transfer department handles the transferring of accounts held at other financial institutions into LPL Financial. The transfer department handles various types of securities including stock, mutual funds, bonds, retirement accounts, and cash. The first step of the accounting cycle is to "identify the business events that can be considered accounting transactions and to collect relevant economic data about those transactions." This step in the cycle occurs during the accounting period. Each......
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Approximate Word Count: 1079
Approximate Pages: 5 (260 words per double-spaced page) |