Most people probably think of bookkeeping and accounting as the same thing, but bookkeeping is really one function of accounting, while accounting encompasses many functions involved in managing the financial affairs of a business. Accountants prepare reports based, in part, on the work of bookkeepers. Bookkeepers perform all manner of record-keeping tasks. Some of them […]
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Accounting has become more and more complex as it has businesses that use accounting functions. Fortunately, there are several excellent software packages that can help you manage this important function. Quasar is one such package. All versions of Quasar offer comprehensive inventory controls. In its most basic use, the inventory module allows a business owner […]
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Depreciation is a term we hear about frequently, but don’t really understand. It’s an essential component of accounting, however. Depreciation is an expense that’s recorded at the same time and in the same period as other accounts. Long-term operating assets that are not held for sale in the course of business are called fixed assets. […]
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Certified management accountant is a global certification and professional standards. Because of its profession, it can improve the efficiency of operation and management, and it can make the financial situation better. It also can make reasonable analysis and judgment for the next step of development. As certified management accountants, the fact reveals that they earn […]
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In any commercial or industrial organization, whether big or small, accounting is always of great consequence towards effective administration. Managerial Accounting helps to arrange the financial obligations in managing the business and the processes that may be involved in its success. Accurate measurements, analysis, communication and interpretation of its financial status are the focus of […]
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Since 1996, the term “chartered certified accountant” has been used to define a British qualified accountant and is awarded to qualified applicants by the Association of Chartered Accountants. This elite group of accountants, granted Royal Charter by the Queen, specializes in business accounting, management accounting, financial accounting and even forensic accounting, among others. While many […]
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When you think of accountants, you probably just think there is only one type of accountant. However, this is a mistake that many people make about accountants. Just like other professionals such as lawyers, there are different fields that accountants can go into. The accounting industry is split into three different types of accountants that […]
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The church is a respected institution since it commands people’s general faith. It is always given the utmost respect. The secular welfare and religious functions of the church are performed through the faith of its constituents. Church activities need funding and the funds come from Christians all over the world. Are you aware that the […]
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There are many reasons why accounting is being outsourced more commonly by different types of businesses and organizations. Some may think that using outsourced accounting services is a bad idea because of less control and more costs, but that is a myth that has been proven wrong countlessly. In reality, there are greater benefits by […]
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The accounting rules and conventions for recording the business transactions of limited companies and then preparing their final accounts are much the same as for sole trader. For example, companies will have a cash book, sales day book, purchase day book, journal, sales ledger, purchase ledger and nominal ledger. They will also prepare a profit […]
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