How does the APPROPRIATIONS PROCESS work? One of the greatest challenges legislators face each year is the task of dividing state funds among many competing interests. It is difficult for the simple reason that there never seems to be enough money to do everything requested. Not every program within every state agency can be fully funded.
Journal entry is an entry to the journal. Journal is a record that keeps accounting transactions in chronological order, i.e. as they occur. Ledger is a record that keeps accounting transactions by accounts. Account is a unit to record and summarize accounting transactions. All accounting transactions are recorded through journal entries that show account names, amounts, and whether those accounts are recorded in debit or credit side of accounts.
For my senior project, T chose to do an investigation on topside journal entries. Topside journal entries are adjusting entries made by a parent company to the books of its subsidiaries when preparing consolidated financial statements. Topside journal entries are a normal and necessary part of accounting. For instance, topside journal entries can be used to allocate income or expenses from a parent company to its subsidiaries.