PREZZY SHOP
GIFTS
|
Accounting Homepage
What field would most i most likely earn more cash: accounting or real estate?
What field would most likely earn more cash and be more stable: accounting or real estate?
Need help with an accounting question?
2010 2009 2008total assets 3,000,000 2,700,000 2,400,000notes payable 10 % int 1,000,000 1,000,000 1,000,000common stock 400,000 400,000 400,000preferred $6, $100 per no change in year 200,00 200,000 200,000retained earnings 1126000 896000 6000002010 net income was 342,000 and the 2009 net income was 308000. no dividends on common stock declared between 08 and 10need help finding rate earoned on total assets rate earned on stockholders' equity and rate earned on common stockholders' equity for years 09 and 10. Need as much info as how to solve these questions as possible
Help with accounting problem please?
Here's the problem Random Company began the year with total assets of 100000 and total liabilities of 7000. Net income for the year was 25000 and dividends were zero. How much is stockholders' equity at the end of the year?How do you get the answer? Which accounting equation do you use?
Accounting vs. Finance?
I'm super confused on what the difference between accounting and finance is. Please don't tell me to look it up, believe me I've tried and I have no idea what the difference is. Please explain it in detail to me. Thank you
|
|
£19.47
|
£7.14
|
|
Respect Confidentiality When Meeting the Seller in an Accounting Practice Sale
The initial meeting between buyer and seller is where many buyers either win or lose the opportunity to purchase a practice. To a large degree, the success of this meeting will depend on the ability of the buyer to connect on a personal level with the seller.
Choosing Your CPA Exam Review Course - 5 Things To Avoid
There is no shortage of advice available about what we should do when it comes to choosing the right CPA exam review course. While that is nice and all correct, it isn't always enough.
Dealing With Late Payments From Customers
Maintaining a smooth cash flow is essential to the success of any business. Small business owners need to keep a steady eye on their cash flow. Late payments from customers, however, can lead to serious cash flow problems. In fact, late or non-received payments are the main reason why many small businesses struggle or ultimately fail. It is essential to monitor invoices and handle the problem of late payments before they cause havoc on your business structure.
How to Handle a Medicare Audit in Your Chiropractic Office
Beginning August 2010, Medicare carrier's are stepping up the audit process for chiropractic services. Here are a few strategies you need to know to successfully handle a CERT audit from Medicare.
Paperless Invoicing - Sustainable Technology to Achieve Your Objectives
There is so much we can do to save energy and reduce waste, even in business and the workplace - even if it is just simply switching off a monitor or sharing a car to work. However, there is a significant amount of waste of paper and other resources by companies who continue to use huge quantities of paper for their accounts payable and accounts receivable invoicing methods.
Quality Control Systems For Accountants in Australia - The Components and Requirements
Does the quality of work produced by accounting firms correlate with their size? Many studies in the past along with anecdotal evidence seem to suggest that small public accounting firms generally tend to perform lower quality accounting work than their larger counterparts.
|
PREZZY SHOP GIFTS
Debit and Credit? accounting question?
so I'm taking accounting right now in high school and were balancing accounts. sooo.... why are debits called debits and why are credits called credits. I know what they are but why are they called that??ok and yeah i sorta ment like a real answer lol. i already tried googling it. 1 pt for dumb answer
Accrual accounting for revenue. Please respond?
A company uses the accrual basis of accounting and recognizes revenue at the time it sells goods or renders services. It applies U.S. GAAP and reports in U.S. dollars. Indicate the amount of expenses if any the firm recognizes during the months of June, July, and August in each of the following hypothetical transactions and journalize them. The firm does the following a Receives a utility bill on July 2 totaling $4,560 for services received during June. It pays the utility bill during July.b Purchases office supplies on account costing $12,600 during July. It pays $5,500 for these purchases during July and the remainder during August. Office supplies on hand on July 1 cost $2,400, on July 31 cost $9,200, and on August 31 cost $2,900.c Pays $2,000 on July 15 as a deposit on a custom made delivery van that the manufac turer will deliver on September 30Please explain this problem.Thanks.
Suitable Accounting Software Exists for All Business
Sizes
Author: Terry Cartwright
Accounting software can vary from multi million
pound solutions for major public companies to simple managed lists
of income and expenses. Simple accounting solutions are most suitable
for small business.
The most comprehensive financial accounting packages incorporate financial
reporting information and managed by teams of qualified accountants
supported by accounts clerks, bookkeepers and substantial input from
automated data sources. At the other end of the scale a self employed
sole trader might use accounting software themselves and produce a
set of financial accounts for the year in an afternoon.
Different accounting standards are required from accounting software
dependent upon the fitness for purpose and client needs. Double entry
bookkeeping automated through a database system and probably arranged
in financial modules would normally be the choice of the majority
of public companies. Single entry bookkeeping would not be an acceptable
accounting solution for a limited company due to audit requirements
and statutory obligations.
Single entry bookkeeping does however have its place in the market
place for the smaller less complex businesses who maintain financial
control through a close intimate knowledge of every financial transaction.
The main objective of a sole trader is more likely to be the production
of the tax accounts and complete the periodic and annual tax return
forms.
The most sophisticated level of accounting software in the largest
companies mirrors the accounting functions in those organisations
with various financial modules for accounts receivable, accounts payable,
stock control, general ledger and fixed assets. These accounting modules
may also be integrated with non accounting functions such as production
and dispatch functions and also divided into separate modules within
the accounting function.
In larger companies the sales daybook and data entry of sales turnover
would often be the responsibility of one department while the accounts
receivable function might be split with a specialist credit control
function within that accounting module. A further division may also
include sales administration and customer records. Accounts payable
would normally be multi functional of the purchasing department, purchase
invoice accounts department and a legal function for overdue payments.
Accounting software for smaller companies and organisations is commonly
a system of data entry of prime transactions which include sales income,
purchase expenses and cash and bank transactions. The prime entry
of these documents being to a database which automates the double
entry accounting principles and produces both accounts receivable,
accounts payable and general ledger databases.
Some accounting knowledge is usually required tom operate a database
accounting software system and that financial knowledge is usually
available within the company as most companies that use database accounting
software also employ a bookkeeper or accounts clerks to input data
and in slightly larger small companies also qualified accountants
to manage the accounting function.
The need for accounting knowledge in a database system is partially
to understand the data entry principles and the relevancy of the rules
that need to be followed but essentially understanding of accounting
principles is required to understand what is happening ton the information
after input. And most important, a qualified accountant has the financial
knowledge, training and experience to know what the system should
be producing and how to query the database to retrieve that information.
A database accounting software system not only produces high quality
financial records but offfers numerous financial control alternatives
for both junior and senior business management. The accounting function
also has the security of producing trial balances, periodic profit
and loss accounts, balance sheets and other financial and statements
for tax and control purposes.
Accounting solutions requiring little bookkeeping or accounting knowledge
are available usually based uponh spreadsheets as this is the most
transparent method of viewing the accounts.
Small limited companies must obtain accounting software based upon
double entry accounting principles as in addition to producing a profit
and loss account and a trial balance to demonstrate accuracy and integrity
of the financial records plus a balance sheet is required for reporting
purposes. Accounting standards require the limited company to have
a system of financial control and accounting software is an essential
tool in achieving this.
Some accounting knowledge either from the management or outsourcing
the bookkeeping services is usually required with even the simplest
database accounting solutions eve3n if this requires the understanding
of what accounts receivable ledgers, accounts payable ledger and control
accounts mean.
There are other possibilities and those businesses with a minimum
of accounting knowledge can consider spreadsheet based accounting
software. Accounting software compiled from spreadsheets is less flexible
and often does not have the range of options a database system has
due to the lack of database queries available. These disadvantages
of flexibility being compensated by the fact that all entries are
visible, transparent and changes can be made more easily.
Financially at the sole trader and self employed end of the business
spectrum then the requirements from accounting software may be completely
different. Gone are the sophistications of control accounts, trial
balances and many aspects of financial control. The most important
aspect of self employed accounting software is often to produce a
set of accounts for tax purposes.
Self employed small business that do not require a balance sheet can
use accounting software based upon single entry bookkeeping rather
than double entry and with the reduced requirement for financial control
then less financial queries to the system are required. In these respects
the simpler an accounting solution the better and in this market an
accounting solution written on spreadsheets that can produce the net
taxable profit would meet the requirements.
About the Author:
Terry Cartwright, CEO DIY Accounting, a qualified accountant designs UK Accounting Software on excel spreadsheets and Payroll Software for small to medium sized business providing a complete accounting solution and also supplies Company Formation packages for new limited liability companies Article Source: ArticlesBase.com - Suitable Accounting Software Exists for All Business Sizes
|
|
