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What is effect of the account payable days on hand on cash flow timing differences?
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What is a bank reconciliation statement?
A bank reconciliation statement is a form that allows individuals to compare their personal bank account records with the bank's records of the individual's account balance in order to uncover any possible discrepancies. Since there are timing discrepancies between when data is entered in the bank's systems and when data is entered in the individual's system, there is sometimes a normal discrepancy between account balances. The goal of reconciliation is to determine whether the discrepancy is due to an error rather than timing.
What is deffered taxation?
Deferred tax is an accounting concept, meaning a future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities and their tax value, or timing differences between the recognition of gains and losses in financial statements and their recognition in a tax computation
How do you record GST receivable after receiving GST refund from govermetnt?
When recording a GST receivable after receiving a GST refund from the government, you need to follow certain accounting practices. Here is a general overview of the steps involved: 1. Determine the Amount of the GST Refund: Calculate the exact amount of the GST refund received from the government. This amount will be recorded as a receivable on your books. 2. Create an Accounting Entry: Record the GST refund as a receivable in your accounting system. The specific accounts you use may vary depending on your chart of accounts, but typically, you would debit the GST Receivable account and credit the corresponding bank or cash account. 3. Document the Transaction: Maintain proper documentation of the GST refund received, including any supporting documents provided by the government. This documentation is important for audit purposes and to support the recorded transaction. 4. Reconcile the Receivable: Periodically reconcile your GST receivable account to ensure accuracy. This involves comparing the recorded receivable balance with the supporting documents and confirming that they match. 5. Monitor and Apply the Receivable: As your business makes subsequent taxable sales, monitor the GST receivable account and apply the credit against future GST payable amounts. This ensures that the refund is appropriately offset against your future GST liabilities. 6. Adjust for Timing Differences: It's important to consider any timing differences between the refund received and the corresponding sales that generated the GST payable. Adjustments may be necessary to align the refund with the appropriate reporting period and ensure accurate financial reporting. 7. Consider the Tax Treatment: Depending on your jurisdiction and the specific nature of the refund, there may be specific tax treatments to consider. Consult with a tax professional or review applicable tax laws to ensure compliance with any special rules or regulations. Remember, it's crucial to consult with a qualified accountant or tax professional who is familiar with the tax laws and regulations in your jurisdiction. They can provide guidance tailored to your specific situation and ensure that you accurately record and account for the GST refund received. Structured Learning Assistance - SLA is known for its excellence in education sector who provides best GST Certification Course with best trainer & advanced lab facility.
When are interperiod income tax allocation procedures appropriate?
differences between net income for tax purposes and financial reporting occur because, even though financial accounting principles and tax laws concur on the item to be recognized as revenues and expenses, they don't concur on the timing of the recognition.
Is rent collected in advance a temporary account?
The account that you would put this rent collection in is generaly called "Un-Earned Rent Revenue". At the end of the period, you have to close these accounts. So yes, it is a temporary account.A quick explanation why:- There are two main types of accounting:1. Accrual - expenses and revnues are recongisd when they ACTUALLY happen.2. Cash based - expenses and revenues are recognised when they are PAID.- Because of this there are "timing differences" which may occur, which can be classified as:1. Acrued revenue - rev. recognised BEFORE cash is received.2. Accrued expense - exp. recognised BEEFORE cash is paid.3. Deferred revenue - rev. recognised AFTER cash is received.4. Deferred expense - exp. recognised AFTER cash is paid.-In the case of our rent collected in advance, this is where you have collected the money for a service before you have given it. This unnearned revenue is a DEFERRED REVENUE which is a LIABILITY account.If you want more info - have a look at accountinginfo.com/study/accrual-101.htm
A cash management tool used to plan the timing and amount of cash disbursements?
Accounts Payable Report
Can low compression affect timing?
No. Low compression does not effect timing but timing can affect compression.
What are the effect on valve timing if the timing belt has become stretched?
if the timing belt becomes streched, it changes the relationship between the camshaft and crankshaft. Which will in turn effect the valve timing and engine performance. That is why many engines use automatic tensioners to prevent this from happening
Does the timing belt effects the way your car shifts gears?
The timing belt effects your camshaft timing, and in some engines your ignition timing (if the distributor or crank trigger runs off a pulley driven by your timing belt). Directly, your timing belt has no effect on your shifting. However, variances in camshaft timing will make your engine run differently and that MAY effect at what point the transmission shifts.
Do belts on pt cruiser effect timing?
yes
Can a bad exhaust or not warming up your car throw your timing belt off?
NO! This has no effect on the timing belt.
Can Hieratic Dragon of Tefnuit effect miss the timing when tributed for the Ritual Summon of Gustkrake?
No, it is a mandatory trigger and cannot miss the timing.
Does Fragrance Storm cause Necro Fleur to miss the timing in Yu-Gi-Oh?
No, Necro Fleur's 'If...you can' effect is not one that can miss the timing.
Does Sacred Sword of Seven Stars cause Tempest Dragon Ruler of Storms to miss the timing in Yu-Gi-Oh?
Tempest Dragon Ruler of Storm's effect banish effect is not one that can miss the timing, as per the ruling;"An important thing to note: cards which state "If … you can" cannot miss the timing. Only those which state "When … you can" can miss the timing"
What happens when timing belt ready to snap?
i had a 106 and the timing belt came loose , it came off and wrecked the timing of the engine causing it to destroy its self . i presume it will be the same effect if it did snap .
If my home lighting is on timers, and the power goes off, how will it effect the timing cycle?
It will resume the timing cycle on time as long as the power comes back on.
What is the RPM to set the timing on a 1979 305 after you get it running?
around 700 to1000 rpms low enough so the centrifugal advance is not going to effect the timing so you are sure your setting base timing
