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Tax laws have a big impact on accounting practices. A company should always develop a tax strategy to minimize taxes (taxes are an expense, and all expenses should be controlled). Often, if there is a large transaction (like purchasing a building), the tax consequences are given high priority when structuring the deal.
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What is importance of accounting information for a business entity?
There are various importance of accounting information to a business entity. Getting to know what an accounting information is and the importance (need) of it is a great step to improving one's capital base, both from the finance aspect to the resources (raw materials) an organisation uses in carrying out its objectives. An accounting information is simply the data which an organisation/business entity is able to make known to its users. It should be taken note that these users of accounting are of various sections - to which a business entity is one of. A business entity will require an accounting information so as to enable it manage and control its finances and resources. It also needs it for it to be able to improve on its level of profit earning, should it realises it is declining in its profitability level. It also needs to for it know the differences between its marginal liability and its marginal assets. There are so many importance of a business information to a business enterprise, but the little I've been able to highlight above are some of the vital needs of an organisation's need of an accounting information. Thank you.
The antitrust laws had little effect for many years and powerful business people stayed in control.?
true -morgan :)
What could effect your hair salon business?
little workersan unhealthy environmentnon hospitable workersand a ridiculously high price
The antitrust laws had little effect for many years and powerful business people stayed in control true or false?
true
How many years of education does it take to get a degree in business accounting?
You can get an accounting degree in as little as 2 years with an Associate's Degree. However, to have really good earning potential as a business accountant, it would be better to get at least a bachelor's degree which takes 4 to 5 years or a Masters degree which would take an additional 2 years past a Bachelors.
What has the author Arthur John Little written?
Arthur John Little has written: 'Mining accounting in Canada' -- subject(s): Mineral industries, Canada, Accounting
How can a small business calculate its allowable tax deductions?
Calculating allowable tax deductions for a small business can be tricky, especially for someone with little or no accounting experience. The best course of action is to contact a CPA, as he or she will be well versed in the tax code and allowable deductions.
When was My Little Business created?
My Little Business was created in 1999.
Why do people use accounting?
Asking that question of an accountant is like asking a farmer why we need rain. We need accounting because it's the only way for business to grow and flourish. Accounting is the backbone of the business financial world. After all, accounting was created in response to the development of trade and commerce during the medieval times.Italy is our first recorded source for accounting entries, and the first published accounting work in 1494 was by a Venetian monk. So you see accounting as an organized method for record-keeping has been around almost as long as the trade and business industries. Another interesting fact is the knowledge and principles upon which the first accounting practices were established, have changed very little in the many hundreds of years that accounting has been in use. The concepts of assets, liabilities, and income and the need to reconcile these areas is still the basis for all accounting functions today.The process for recording those transactions, and the many reports generated by the compilation of that information has evolved over the last two hundred years. Thanks to the creation of computers, many of the bookkeeping functions that are vital to accounting, but somewhat repetitive are performed by data entry clerks, and the reports generated come from the IS Department. The end result is still the same: accounting gives us the financial snapshot we need in order to make solid business decisions about the current status or projected future health of our businesses.There are two basic categories of accounting: financial accounting and managerial accounting. Financial accounting is comprised of information that companies make available to the general public: stockholders, creditors, customers, suppliers, and regulatory commissions. Managerial accounting deals with information that is not made public. Information such as salary costs, Cost of goods produced, profit targets, and material control information. The knowledge supplied by managerial accounting is for the use of department heads, division managers, and supervisors to help them make better decisions about the day-to-day operations of the business.Now, what about the "accountability" part of the accounting process? Why do we need that and how do we enforce it? Businesses need to be held accountable for the methods they use to run a business because the potential for greed, theft, and dishonesty exist in every business. You have only to read the current events section of the newspaper to realize how rampant corporate abuse is in business today. We have Enron, HEALTHSOUTH, and Martha Stewart examples to show us just how extensive the problem has become. There are specialized areas of accounting, that when correctly enforced, eliminate the possibility for fraud. Auditing and income taxation, when used correctly, force business to account for all business income, transactions, and transfers, and then to pay their fair share of the tax burden. The catch here is that the principles must be correctly enforced.Accounting is the conscious of the business world. When handled with care and with respect, it performs as expected. When abuse occurs, and the system is circumvented or overridden because of dishonesty and greed, it doesn't work correctly. Accounting is much like all other systems in place, they are only as good as the people using them
How many years do you have to study to become an accountant?
The number of years is really up to you. I am going for my Associates Degree in Accounting right now and am doing it through a 2 year Community College. I can stop there if I choose or transfer into a 4 year college and continue on for a Bachelor's degree in Business with my major in Accounting. Then I can, if I so choose, go on and obtain a Master's degree in Business with a major in Accounting, and further on for a Doctorate in Business. To be truthful if you want to be a proper Accountant you really never stop the learning process but as for the formal, in-class type of training it can be as little as two years or as long as ten years.
Where can I find information on business software online with little to no cost?
Business software includes programs that manage functions like accounting, word processing, creating presentations, and basic graphic design. Sites like Zoho offer useful applications that perform these functions at no cost to the user.
How did the stock market crash effect business's?
People didn't have any money to spend, OR they were to afraid to spend what little they had-You're Welcome Guys and Gals! :D
