Account reconciliation process and two types of reconciliations; bank reconciliation with step by step instructions.

General ledger to sub-ledger reconciliation type with step by step instructions.

Physical inventory and purposes; three phases: planning and preparation, execution, and analysis of results; methods of conducting physical inventory such as bar-code readers, count cards, and count sheets.

Explanation of accounting for customer returns, sales and return allowances, purchase allowances, cash refunds and store credits.