Accounting Articles

Accounting | By Sam Kern @ Wednesday, 7th February 2007 @ 1:45 PM

Accounting does not end with recording transactions. The owner or the management needs useful information about whether the business made a profit or loss or how the financial position at the end of the accounting year compares with that at the start. From the trial balance all the income and expense items are transferred to the income statement. Further, certain other items are also adjusted before transferring the balances. Consider rent. Now, rent becomes payable at the end of a mon... more...

Accounting | By Sam Kern @ Wednesday, 7th February 2007 @ 1:45 PM

Accounting is as ancient as man's attempts to transact with fellow human beings. With the predominance of money measurement in economically useful activities, accounting became the most vital tool. At the center of all accounting principles is the urge to ensure accuracy and consistency. This takes the form of double entry system of accounting. The 15th century Italian mathematician, Frater Luca Pacioli, first extolled about the features of the system. Double entry method offers ... more...

Accounting | By John Nowly @ Friday, 19th January 2007 @ 3:00 PM

When you learn something new like accounting concepts and terms, it helps to create links between what you know and what you are trying to learn. In some ways, it is like learning a second language and decoding the new word is part of the learning process. For example, trying to translate the Spanish word necesario you might brainstorm with necessary - and you would be right. How about blanco? Blanco is like blank which is like white. So, blanco is Spanish for the color white. Try to mak... more...

Accounting | By James Allen @ Friday, 5th January 2007 @ 7:57 PM

One of the most important positions in an investment club is relegated to the one controlling the money; the treasurer. To this end, the proper tools are needed to ensure that every facet of the financial structure of the investment club is covered. The way in which to properly handle this role is to use investment club accounting software. Let's start by taking a look at three of these software products and their functions. Club Accounting is the leading investment software availa... more...

Accounting | By Sam Kern @ Friday, 5th January 2007 @ 11:27 AM

Most people who have been appointed to work in an office have come across at some accounting. They are the people who pay and send out the bills that support the company operation. They do a lot more than that, though. Sometimes referred to as "bean counters" they in addition keep their eye on gains, costs and losses. Unless you are running your own business and acting as your own accountant, you would have no way of knowing just how profitable - or not - your business is without some fo... more...

Accounting | By Jason Uvios @ Friday, 8th December 2006 @ 4:25 AM

Merchant accounts refer to a special arrangement of a business concern with a commercial bank or card issuer. As per this arrangement the business concern is permitted to accept credit card payments and deposit those payments after deducting the charges to its bank account. Merchant account activities are also widely known as payment processing. The term credit card processing is also used for describing merchant account usage. The business concerns can accept credit cards, debit cards, gift car... more...

Accounting | By Mike Batta @ Monday, 4th December 2006 @ 5:16 PM

Outsourcing of payroll processes simply means that you transfer this traditionally in house function to another company. All of the tedious duties involved with payroll processing are shifted from the company itself, allowing more constructive use of staff time. Once a firm entrusts its payroll processing to a reliable outsourcing company, they can be assured that not only will all the payroll be taken care of, but expert advice will also be available. The costs of setting up your own p... more...

Accounting | By Jason Uvios @ Monday, 4th December 2006 @ 3:36 PM

Accounting concerns a system providing qualitative information about finances. It may relate to maintaining of a chronological list of related debits and credits of a business, the statement of transactions and the resulting balance. Accounting methodology or accounting system is a part of a ledger of accounts. The methodology of accounting involves measurement, disclosure or provision of assurance about financial information. This comes of help for managers, investors, tax authorities and such ... more...

Accounting | By Mike Batta @ Saturday, 21st October 2006 @ 7:01 AM

One of the hottest trends in the outsourcing field is online payroll processing. As long as you have access to the Internet, you can have a payroll processing company available to you at all times. You can even print your paychecks from your desktop computer once you have given all of the information to the payroll outsourcing company to prepare the checks. These advantages, convenience and professional support, have made online payroll processing a very attractive alternative for busine... more...

Accounting | By John Nowly @ Friday, 20th October 2006 @ 1:25 PM

Closely related to working capital is the business cycle. In general, the business cycle is the same for all businesses. For you, however, the timing and issues are different depending on what industry you are in. I want you to learn about the business cycle because it is the rhythm of your business cycle that undermines all of your decisions. The business cycle keeps time for your company. The pace of your business cycle will determine how much working capital you have. Like a car... more...

Accounting | By John Nowly @ Friday, 20th October 2006 @ 9:15 AM

In general, capital is a term used to define resources used to make money. Basically, you use capital to make something else. If you are interested in economics, there is a lot to learn about the concept of capital as an input into the production process. But we are talking about accounting and finance for your small business, so we will lean towards the accounting interpretation of fixed capital. In practical accounting terms, you can think of fixed capital as fixed assets. The fixed... more...

Accounting | By John Nowly @ Thursday, 19th October 2006 @ 2:33 AM

If you are in a growth mode, perhaps your business is only a few years old and you are trying to establish yourself in the local market, then your measurements will focus on growth. Before you can measure your growth you need to be clear about where you are now and where you hope to go. What size is the market? Have you targeted a certain geographic area? Or perhaps a certain channel, like hair salons for your handmade moisturizing products. Whatever the growth goals are, you... more...

Accounting | By John Nowly @ Thursday, 19th October 2006 @ 2:33 AM

If you are in a growth mode, perhaps your business is only a few years old and you are trying to establish yourself in the local market, then your measurements will focus on growth. Before you can measure your growth you need to be clear about where you are now and where you hope to go. What size is the market? Have you targeted a certain geographic area? Or perhaps a certain channel, like hair salons for your handmade moisturizing products. Whatever the growth goals are, you... more...

Accounting | By John Nowly @ Thursday, 19th October 2006 @ 2:33 AM

If you are in a growth mode, perhaps your business is only a few years old and you are trying to establish yourself in the local market, then your measurements will focus on growth. Before you can measure your growth you need to be clear about where you are now and where you hope to go. What size is the market? Have you targeted a certain geographic area? Or perhaps a certain channel, like hair salons for your handmade moisturizing products. Whatever the growth goals are, you... more...

Accounting | By Wade Anderson @ Saturday, 23rd September 2006 @ 12:05 PM

A cash flow statement is a financial reporting document displaying the cash outflows and inflows of a company on a monthly or quarterly basis. This report reflects the effects of changes to the balance sheet and income accounts on the cash position as well as analyzing the operating, investing and other financial aspects of the company. When analyzed, the cash flow statement helps assess the short term capability and practicality of the company as to whether it will be able to fulfill its obliga... more...

Accounting | By Wade Anderson @ Saturday, 23rd September 2006 @ 11:59 AM

The credit application form for business to business is a great tool for small business owners, sales and marketing managers and entrepreneurs as well as anybody else who is connected with business in any way to apply and obtain credit. Used by most companies, it provides a lot of functionality for managing the sales and marketing activities of the company and has been designed specifically for making the credit business successful. The credit application, along with credit history keeps tabs on... more...

Accounting | By Gregg Hall @ Monday, 4th September 2006 @ 1:58 PM

Accounting careers open the door to an entire world of options. You can choose from many different types of careers and opportunities. And once you settle on which career or opportunity you'd like to pursue. you have a world of options for which company you want to work for. Hence, you have variety in what you do and where you do it. Regardless of the wide amount of diversity in where to work and what to do, most accounting careers do hold one thing in common: as a general rule, they keep t... more...

Accounting | By Gregg Hall @ Monday, 4th September 2006 @ 1:57 PM

Now, more than ever, a career in accounting is something you should take the time to consider. Accounting is leaving its reputation for providing long days of mundane work in the dust as the amount of duties and tasks it offers varies more and more, leaving the door wide open to many other, bigger and better opportunities. One way accounting is waving goodbye to its boring reputation, is through moving their once self-done work to the computer. By working via computer, what they do va... more...

Accounting | By Hans Hasselfors @ Monday, 28th August 2006 @ 8:39 PM

There was a time when small businesses, especially mom and pop stores could get away without maintaining accounts of any sort. In fact, the sole reason why they were classified as mom and pop stores were because the business was run in an ad hoc manner. But with increasing number of people opting for small businesses and the entrepreneurial initiatives being fostered by governments worldwide, these businesses to have come to represent a large part of the gross domestic produce of countries world... more...

Accounting | By Hans Hasselfors @ Monday, 28th August 2006 @ 8:37 PM

Accounting is tricky business, and not everyone has the mind for it. In order to get a degree in accounting, you have to spend a great deal of time in college learning the ins and outs of the profession. Like any profession, there are those who just don't cut it. If you have a more creative mind, accounting may not be for you. I once took a few courses, and did some accounting for a small company. I found it was just not for me, and I stuck with writing to make a living. If you aren&... more...