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Why a joint stock company is legally bound to maintain proper books of accounts?
Why a joint stock company is legally bound to maintain proper books of accounts? What do you know about the authentication of accounting records? please give me answare today i need it. my E-mail is .........mubashar229@yahoo.com........i am waiting................................................................
When do you debit and when do you credit an account?
Another account will receive a "credit" entry, meaning the amount will be (You can refer to the company's chart of accounts to select the proper accounts}.
What is the objective book keeping?
These are the main objective of book keeping:To record the business recordTo maintain accounts in proper wayProvide information at the spot
What is a debit memo for accounts payable?
A debit memo for accounts payable is a document used to adjust or reduce amounts owed to a supplier or vendor. It typically occurs when there are discrepancies, such as returned goods, overbilling, or discounts not applied. The debit memo serves as a formal record of these adjustments, impacting the company's accounts payable balance and financial statements. This process helps maintain accurate financial records and ensures proper reconciliation with suppliers.
How can we ensure the proper protection of floors during construction to prevent damage and maintain their integrity?
To ensure the proper protection of floors during construction, use materials like plywood or floor protection products to cover and shield the floors from damage. Implement strict protocols for workers to follow, such as wearing protective shoe covers and avoiding heavy equipment on the floors. Regular inspections and maintenance can help maintain the integrity of the floors throughout the construction process.
What are accounts packages used for?
Accounts packages are software tools designed to help businesses manage their financial transactions and accounting processes. They typically facilitate functions such as bookkeeping, invoicing, payroll, budgeting, and financial reporting. By automating these tasks, accounts packages enhance accuracy, save time, and provide valuable insights into a company's financial health. Additionally, they often comply with regulatory standards, making it easier for businesses to maintain proper financial records.
When a sale is made to a customer on credit it creates an accounts receivable which is classified by your company as a assets?
When a sale is made to a customer on credit, it creates an accounts receivable, representing the amount owed to the company. This accounts receivable is classified as a current asset on the balance sheet, as it is expected to be collected within a year. It reflects the company's right to receive cash in the future, thereby contributing to its overall asset base. Proper management of accounts receivable is crucial for maintaining healthy cash flow.
What are Vendor Accounts?
Vendor accounts are financial accounts established by businesses to manage transactions with suppliers or vendors. These accounts facilitate the tracking of purchases, payments, and credits associated with the goods and services provided by vendors. They help streamline accounts payable processes and maintain an organized record of outstanding liabilities and payment history. Proper management of vendor accounts is essential for maintaining healthy supplier relationships and ensuring timely payments.
How does your job fit into your department and company?
1st of all your company criteria match with my profile,i belive in hard working and smart woring,and anothr thing is tha i belive my self, i work with proper proper planning so its help me to maintain our department maintain my team,so you are not get gap for me,i am not belive trends,i belive to doing someting differnce,
Who are the persons responsible for ensuring proper maintenance of books of account?
The Bookkeeper is required to maintain the books. The accountant has to check the accuracy of the bookkeeper and finally the accounts are audited by he auditors to verify the completeness and accuracy.
Should Accounts be capitalized in accounts payable?
Accounts Payable should be capitalized if using the phrase as a proper noun. If not then it does not need to be capitalized.
What is the difference between Fiscal or Natural business year?
A fiscal year is used to maintain records of accounts from march 1st to feb 28,majority of businesss use fusal year as there r many enteries left like for eg,accounts payable, receivable to be entered in book of accounts after dec 31st so its convenient to use fiscal year to maintain proper records of accounts where as normal calender year is from 1st jan to 31st dec in which a year transaction or entries cannot be transferred into another.
