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Business Accounting and Bookkeeping

~17700 answered questions
Parent Category: Business and Industry
Business accounting and bookkeeping refers to the act of systematically recording, verifying and reporting business transactions such as purchases, sales, payments and income. The accounting aspect is commonly performed by certified accountants only.
%REPLIES% Answer The manufacturers know what the operating temperatures their engines should be. Answer In theory, a lower degree thermo. will reduce the temp. of the fuel-air mixture resulting in more horsepower. In reality, reducing eng. temp. below specs. won't allow internal parts to …
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If you are asking what their current rank is, it is 618.
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An associate's degree in management may only result in a middle entry position paying $28,000 to $35,000. For a 2008 median wage list of 25 top pays with associates degrees visit the Related Link.
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maybe you can say that a smart work is the work you're interesting about, and a hard work are all the works you dislike   "Working hard" would be putting in lots of effort to get the task done, sometimes with physical effort and long hours, some of it possibly being not very efficent. "Workin…
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P&L is an industry abbreviation for profit and loss, as in "charged off to profit and loss". For the purposes of a consumer reading their credit report; it is the same as a collection, charge off, or write off.Many credit granting companies have their own collection and charge off departments. O…
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Technically this should be very easy. Write a letter to the (3) credit reporting agencies stateing that this information is/may not be accurate. They will then request that the creditor verify the information. If the creditor does not respond in 30 days then the entry should be removed. That's the w…
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Interest on any account is paid before anything is paid on the balance. That's how credit card companies, well any lender makes a profit.
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An escrow account is an account controlled by someone who is not a party to the transaction (often a broker in a real estate transaction or one party's attorney in a business transaction) for holding funds on behalf of the parties until the consummation or termination of a transaction or the happeni…
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A debt that cannot be recovered.
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Hi, Lisa,Think of it as a prospective credit transaction. If he believes that an investment in you will pay off sometime in the future (in other words, that one day you will again become a source of narcissistic supply) - he may give you something.If he believes that he stands to lose more than he s…
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I don't know for sure how long they keep the records but I can tell you that my husbands mother passed away when he was very young and he had no information other than the area where she was buried. We contacted all the funeral homes in the area and found the one she was at ... who then told us what…
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Buying wholesale First, you have to obtain a wholesale license and that involves establishing or setting up a business with a business license through the state that you live in. In my experience it has ALWAYS been necessary to establish a trading account with any wholesaler. It is not necessa…
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Finding an AccountantThis is basic advice on how to find an accountant from the Federal Consumer Information Center and the Small Business Administration:You want to find an accountant who is knowledgeable, capable and discreet. With the ever-changing complexities of tax laws and developments in acc…
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Cash Flow ManagementThis is advice on cash flow management from the Federal Consumer Information Center and the Small Business Administration:Failure to properly manage cash flow is one of the leading causes of small business failures. Understanding the basics will help you with your cash flow manag…
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Well very simply...cash is generated from sales and many other things (whether they make a profit or not). But generally, expenses that use cash are incurred at some other time. Also, frequently cash can become something else...say a company uses cash to buy a building, or inventory...it still is wo…
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In pure accounting terms Assets - Liabilities = Owner's equity. That means that if you have 107k of assets and 75k of OE, you have 32K of liabilities.Good accounting answer...in general terms, count up what you own (Assets), subtract what you owe(liabilities) and that is what you are worth (equity),…
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I use MYOB booking system. (Mind your own business.) It can be purchased online or any good computer store.Another good accounting software system is quickbooks or Peachtree. These are the two accounting software packages that most businesses uses.
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The Co-op prospectus will list the manner in which shares are allocated to each apartment in the complex or building. The board of directors will or has decided on an operating annual budget by which to pay staff members, taxes, insurance, pay for fuel, repairs to common areas, and many other expens…
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%DETAILS% Not exactly. Cash flow simply refers to the flow of cash into and out of a business over a period of time. Watching the cash inflows and outflows is one of the major management tasks of an owner. The outflow of cash is measured by those checks you will write every month to pay salaries,…
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You could try Quicken. But the best advice would be to make some comparisons on your own. Do your research: read reviews, check to be sure the software will meet all the needs of your business, how difficult is it to learn, will you be able to upgrade easily or at all. And, this is very important, …
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PLEASE FOLLOW THE FOLLWOING SEQUENCE WISE IN MAKING PAYMENTS 1) ALL TAXES2) UTILITY BILLS3) THEN TOP 10 SUPPLIERSDEAR IT IS A LENTHLY ANSWERthis is another easy one. Phone and hydro can get stretched, ad companies will let you go 90 days before whining; mom and pop landlords are great if you pay the…
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Depreciation does not generate cash flow. If a million dollar piece of equipment is purchased, an accountant would reflect that the company now owns a million dollar asset. Without depreciation, the company would still show a million dollar asset on the books even though we all know the equipment's …
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Absolutely, the cash flow statement is useful to show the ability of a business to meet it obligations. For instance an income statement is specifically reduced by non-cash items like depreciation. Consider your car, when you buy it (assuming you pay cash for it), this results in a negative cash flo…
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Gross sales mean what you are charged as the overall total of your bill and net is all other deductions subtracted with what ever balance is left being your net. Gross sales is defined to be the total invoice value of sales, before deducting customers' discounts, returns, or allowances. Net Sales Th…
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The most appropriate way to account for a return is to have a 'returns account' (or negative sale if you will) to permit the retailer to see what percent of its sales are actually returned. Inventory should be credited accordingly, and the 'COGS' Cost of Goods Sold Account should also be reduced.
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A credit card sale is the bank guaranteeing a business the money. The only way a business would not get the money from a credit card transaction is if the bank would go out of business (pretty slim odds)  AnswerI am not sure the above answers your question. Credit sales are sales made to custo…
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the rapid increase in sales produce a negative cash flow because your funds gets blockedfor eg earlier your sale was 10,000 units now your sale increased to 20,000 units to support the sale of 20,000 units you need to invest more money such as in inventory, debtors     Most people are a…
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Answer Many different ways, no single method. It is an art, not a science. Examples: A small business: might estimate sales for all major events during the year (e.g. spring-break, easter, thanksgiving, x-mas) and add them up may look at recent weekly sales and simply project weekly sales x 52…
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First, make sure you understand the question and that you have and understand all the components or facts you need to make the necessary calculations. You may have to calculate additional necessary numbers based on the numbers that you are given. Then look up the necessary steps for a given calculat…
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Categorize all assets by type (cash, receivables, equipment). Categorize all liabities by type (accruals, accounts payable, loans payable). Determine initial investment in business. Difference is "retained earnings", which is cumulative profit from the start of the business. The above assumes prop…
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Activity-based costing is a more accurate cost management system than TCA. One would use the ABC method when overhead is high, products are diverse, cost of errors high and competition is stiff.Traditional Cost Accounting is unable to calculate the 'true' cost of the product. TCA arbitrarily allocat…
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Answer Hard to say, because a lot more than just the condition of the asset comes into play. But assuming condition was the ONLY factor, the better the condition of the asset is, the more likely you are to buy it and, in comparison to other similar assets, the higher the price of the asset will b…
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The idea is to use the uneven exchange rate amounts between currencies. You will have to tre say from dollars to euros to yen and maybe one or two more, but you should end up on the pulse side.
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Every person that files for bankruptcy or has a judgment awarded against them in a lawsuit is entitled to certain property exemptions. Exemptions are determined by the state law where the person resides. For homeowners the most important would be the homestead exemption which can be used to protect …
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Australian Accounting Please visit the Web site of the Australian Accounting Standards Board to review the accounting values for the country/continent.
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the question is presented wrong i believe you want too know how much you can turn the crank shaft journals safely! the answer to that question is i personally would rather turn them only .10 thousandths but they can be turned too .30thousanths safely Answer The material can be removed in .010" incre…
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1. A balance is the amount of credit, money, merchandise, that is borrowed by the debtor. The debtor will have a balance owed until the creditor is repaid in full which may include interest, late, over the limit, past due, annual fees etc.2. It is also a type of scale, made of two hanging pans bal…
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Well in any organization there needs to be a mix of financing sources, so even though you will choose debt over equity, in some instances to satisfy some interest parties equity must be used. So there lies your answer. there is no text book answer. it is more practical. The major reasons are: Thoug…
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Answer http://www.aicpa.org/index.htm this link should help point you in the right direction.
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Answer The stockholders ARE the owners of a corporation. Answer Technically no, because of what the earlier answer says, but it is possible for the board, majority shareholders, or officers to misappropriate the corporate assets to enrich themselves at the expense of the corporation and …
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In my Point Of View Off antipode breadth usually bureau an asset or accountability or costs movement not on the accession antipode sheet. An analysis of costs in which abounding basal expenditures are kept off of a company's antipode breadth through different allocation methods. Companies will about…
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Divorce costs the man everything he has. Separation costs more.
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Because debt is a fixed amount that can be repaid, with the owners of the business retaining full ownership after repayment. Equity makes one an owner of a (presumably) growing business and therefore of potentially huge value and an indeterminate loss to the original owners.  I am not sure I …
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Nasiem why do you care? Ms. Winton already knows Curtis owns you. Youll be counting my money. And the answer for your salary is 10 cents. Dnt you feel stupid
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my specific goals are job interviews, training and career developement, salary and jobs rotation.
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Answer Job Costing is the art of breaking down the specific cost of a product or service that you provide. Fixed and variable cost play the most important role in this assessment. Fixed cost are overhead or cost that won't vary such as light bill, insurance, mortgage or rent, etc. Variable cost a…
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Traditional based costing systems typically use a single overhead pool - that is a single accumulation of costs that are not directly identifiable as product part costs or as labor. This would include supply and maintenance expenses, allocations of management salaries, depreciation, etc. Activity …
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Accountant Qualifications To be a CPA, a certified public accountant, in the US you need to study accounting standards and pass the CPA licensing exam. This is not an easy test. Perhaps someone else can add more information.
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south and central America
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Answer Businesses that like to hide part of their revenue from the Tax Man (IRS). If you pay by debit/credit card or cheque every thing is tracable. Taking payments in cash also helps keep banking costs down. Hence it is mostly small businesses that give cash discounts to encourage you to pay t…
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On a 12 volt system the 80 watts draws 6.7 amp and the 120 watts draws 10 amps.
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Answer Accounting firms come in handy for many reasons. Some of the smaller ones:Businesses will use them to calculate payroll and the accounting firm will calculate the amount of taxes taken out. Company income tax returns, accounting firms will usually represent their work if the company …
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First: Fixed costs remain fixed in this sence that it does not concern whether you r doing production or not or how much you are doing production. For example factory building rent... you are paying the rent of the building even if you are making goods or not. Second: Fixed costs remain fixed for a…
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Income Statement is another type of a financial statement. It summarizes activities and events of one company which happened in a period of time. Usually, there are monthly, quarterly, and annual income statement. An income statement will show all revenues, all expenses, and net profits in detail.On…
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Answer Cost of capital, i.e., interest payments and cash-flows out, impact the total cash available to invest in capital goods. For example if you borrow $100,000 to purchase a new pizza oven and it brings in an additional $1000/month of profit but the monthly interest on the loan payment is …
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Answer Financial leverage offers many advantages for a firm to move forward. But like most things, there are some limitations that come with financial leverage as well. For example, when a company uses financial leverage they are technically borrowing funds. Borrowing money is always going to dev…
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Capital Leases vs. Buying When the asset depreciates (loses value) fast and you want it only for a short period of time it may be better to lease than to buy. Leasing may also be a less expensive or more available method of financing than borrowing, particularly for someone with poor credit or l…
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Well this is an interesting question. Debt and equity are diametrically opposed (i.e. the opposite) so they don't ever "mix". However the ratio of debt to equity (debt divided by equity) refers to the amount of cash risk a business carries relative to its ability to pay that cash back. If the goal i…
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Long-Term Expenditures Here is useful information from Answers.com: In terms of accounting, an expense is considered to be a capital expenditure when the asset is a newly purchased capital asset or an investment that improves the useful life of an existing capital asset. If an expense is a c…
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Take the account balance at the end of each day's business. Add all of these balances and divide by the number of days.Average Daily Balance is the practice of crediting an account from the day a payment is received or debiting an account on the day a charge is made. It is a daily tracking of what i…
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Cost of capital, i.e., interest payments and cash-flows out, impact the total cash available to invest in capital goods. For example if you borrow $100,000 to purchase a new pizza oven and it brings in an additional $1000/month of profit but the monthly interest on the loan payment is $1500, then it…
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Cash Flow Planning in Business The importance of Cash flow planning is linked to liquidity of a business. In any business, there is a need for cash in running day-to-day operations. Some examples include the purchase of office stationary or fuel. Cash flow is simply Cash Receipts minus Cash Disb…
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Save your money! It doesn't work and it's just another money grabbing cheap way of giving false hope to people who want to have curves and lose fat in the right places. A good exercise regime and a trip to your gym will help get that tummy flat and curves happening. Watch what you eat, but eat wel…
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If the elimination of volatile cash flows through risk management techniques does not significantly change a firm's expected future cash flows and WACC, investors will be indifferent to holding a company with volatile cash flows versus a company with stable cash flows. Note that investors can reduce…
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Cost to company in brief means all the cost which the company incurrs for maintaining the employee. This generally includes not just the salary which the employee draws at the end of the month but also includes all the other components like 1. Employer contribution to PF 2. Employer contributi…
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There are no standard tuition and fee rates for colleges and universities. Each institution will have rates particular to itself. There are a number of variables to consider to include whether the institution is public or private, the geographical location, the specific program of study (some of whi…
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US Department of Labor In 2002, the median wage and salary annual earnings of accountants and auditors were $47,000. The middle half of the occupation earned between $37,210 and $61,630. The top 10 percent of accountants and auditors earned more than $82,730, and the bottom 10 percent earned less th…
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Cost-to-CompanyCost to Company (CTC) is a term used to describe an investment without return. Travel expenditures, interviewing, spending time with potential customers can all be interpreted as CTC's.Cost to Company can also be used to refer to the total cost that an organization is spending towards…
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The value of shares in a company are affected by many things. It also depends on what kind of shares they are. Lets assume shares that are openly traded on the stock markets. In order to make these share prices rise the company needs to inform the stock market of some "good news" this can be a poten…
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Business income insurance DOES NOT contain coverage for extra expense, extra expense is a coverage form add on that you must opt to purchase along with the business income. Extra expense coverage can be used to mitigate the business income losses by spending up front money, such as a generator at a …
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Answer to analysis question Trend analysis gives the owner an up, down, or flat trend, and tells the owner whether he is doing better, worse or remaining the same. Lets take for example a Liquidity ratio over a four year Calendar Year period as displayed below: CY 2000 = 3:1 CY 2001 = 2:1 CY 200…
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AROUND $300, depending on which model and condition.
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Accountants use impact analysis and financial ratios to analyse financial statements. Some of the important ratios are: Current ratio Quick asset ratio Gross profits to sales Nett profit to sales Return on shareholders' equity Debt to equity Interest cover Stock turnover Debtors turnover Turnove…
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1.Commansize Balence sheet analysis 2.Comparative Balence sheet analysis 3.Trend analysis 4.Ratio Analysis
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Answer actually it depends on what field of music you are trying to get into. there are a lot of different jobs that you can go for with a music degree. you could be a music teacher, a music performer(which is probably what pays the most), a music producer, or composer, a song writter, audio engenee…
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Answer: Gross salary is what you should see on your paycheck stub before taxes and voluntary deductions.  Cost to the company is your gross salary plus their portion of taxes, workers comp, and unemployment insurance with any benefits they pay   its same but 1 possible difference m…
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What impact does WACC have on capital budgeting and structure?
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"Collect those Debts"If your receivables are local, go to the courthouse, get a number of copies of small claim forms, clip them to the top of a clipboard. Now go visit the company that owes you money. Tell them you just stopped by on your way to the courthouse to pick up a check. Make sure they can…
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Accounting includes both basic math and advance math as well. It really depends on what type of math you are talking about.Addition,subtraction,multiplication and division are the basic math calculations. In general, you can still do accounting even if you aren't good at math. Accounting deals wit…
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One answer: Net pay is what is left after the withholding of deductions (such as health insurance or wage garnishments) and taxes owed by the employee. That is, net wages are equal to gross wages, less taxes and deductions. Typically, employers and employees negotiate on the basis of gross wages, …
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Profit v Non-profitIf they're non-profit, they may be happy to tell you all about it, if you just ask.Otherwise, find out where they're doing business, if they're registered, and if they're incorporated. Then look up their papers in the local Secretary of State's office (or equivalent agency handlin…
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I qualified with a top 20 firm last year and moved to one of the big four - as a newly qualified i started on 48k plus benefits (about £10k)..in 6 mths or so i hope to get promoted which will add another £20k. This is only in practice, if you move into equity research with an investment bank you w…
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based on accounting flows, depreciation is regarded as fixed cost; based on cash flows, depreciation is not included in fixed cost.so, break-even point by accounting flows is larger than cash break-even point.in the long term, depreciation should be counted. so, break-even by accounting flows is lon…
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Learn Software three things that might help: 1) know how to use excel 2) learn quickbooks 3) sign up with an accounting agency, e.g., accountemps. accountemps offers free online training in excel and other software. good luck. Addition That's a good answer above, as prospective employers want…
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Answer Marginal or incremental cost of capital is cost of the additional capital raised in a given period
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Answer Goods that are purchased for use in a business can be depreciated to account for normal wear and tear. Most light equipment, such as computers, are depreciated over 3 years. It helps the business to prepare to replace the items after their normal life cycle by allowing them to deduct part …
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An auditor is a professional that accumulates and evaluates evidence to report on the degree a company's assertions comply with an established set of procedures or standards (criteria). Use of the title certified public accountant (CPA) is regulated by state law and individuals using this designatio…
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accumulated deficit is the net loss which is carried everyyear from p&l to balance sheet under stock holder equity. the net loss carried everyyear collectively is known as accumulated deficit Accumulated Deficit http://www.investopedia.com/terms/s/shareholdersequity.asp
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Look it up..... You have to read something in order to answer something... Duuhhh.... But its gross pay is net pay minus deductions.
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The document supplied by the prosecutor's offense in response to a request from the defendant or defendant's legal counsel or by order of the court that contains all the pertinent factual information concerning the crime for which the person(s) are charged. The motion is usually made by the defendan…
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New answer- A small journal has 1/2 in. Rod nuts A large journal has 9/16 in. Rod nuts A previous comment was "On The Engine There Is A Large Journal This Is The Crankshaft Journal That Is What They Must Be Talking About. Where The Rods Go Is Call The Small Journal. This Is The Only Way It Can Be. …
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Gross income is the total amount of money you earned, before taxes and any benefits are paid for. Net income is the amount of money you actually received on your paycheck after taxes and any benefits you contribute toward are taken out.
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Where the sun don't shine
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That's a difficult issue to explain on a few words.
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Petty cash is often a small amount of discretionary funds in the form of cash used for expenditures where it is not practical to make the disbursement by Check. The most common way of accounting expenditures is to use the imprest system. The initial fund would be created by issuing a check for the …
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Answer Difference between a group and an organization need to be sorted out first. An organization consists of two or more people expending systematic effort towards some common goals which produce goods or services. Whereas a group of people consists of two or more individuals coming together fo…
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its about policyholder protection rules
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Answer 1. lack of certified public accountant who helps tremendiously in keeping accounting records. 2. unorganised system of accounting 3. insufficient account recording books 4. Auditing round the computer
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