Accounting is the procedure of obtaining, recoding, classifying, summarizing, reporting, interpreting ans presenting economic info in a manner that will facilitate informed decisions by the users of the details. This definition indicates the phases entails in accounting. first the accounting/economic data would be obtained by the accountant in respect of transactions from supply documents such as payment vouchers, invoices and receipts. Next the data would be recorded. In the course of this stage the accountant would classify and summarize the transactions into meaningful groups. Then the accountant would analyze and interpret the information in a manner that would make them comprehensible for the users so that they could, in turn make acceptable choices.
Existing Assets are assets held on a brief term basis such as debtors (account receivable), bills receivable (notes receivable), stock (inventory), temporary investment in securities, money and bank balances. Usually the quick term refers to an accounting year. Jenny is a student at the University of Oregon. She will be graduating June 2016 and beginning as a Staff Accountant with Jones & Roth in July. Accounting is a life on iself in terms of referrences in each previous and present and even in future,for that reason accounting is unavoidable in man’slife.
I have also had my reimbursements denied because I didn’t request the full per diem. WTF is up with that?! How can that possibly be a scam? Now requesting the full amount when you didn’t nearly come close to spending that much….perfectly legit, but total scam. Don’t know how you figure it really is unprofessional to meet in a coffee shop. My workplace is in my residence so no way do I want any individual in my personal space and if their office is also in their residence they may well not want to meet there either.
A profit and loss account or income statement shows the benefits of operations in the course of a specified period. Among other items, it shows sales, the expense of sales, gross profit, operating costs and net profit or net income for the period. There are endless choices based on (i) cost accounting, (ii) company’s conditions, (iii) industrial environments and (iv) vision.
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