Depreciation is a term we hear about frequently, but don't really understand. It's an essential component of accounting however. Depreciation is an expense that's recorded at the same time and in the same period as other accounts. Long-term operating assets that are not held for sale in the course of business are called fixed assets. Fixed assets include...
Saturday, September 18
Depreciation reporting
In an accountant's reporting systems, depreciation of a business's fixed assets such as its buildings, equipment, computers, etc. is not recorded as a cash outlay. When an accountant measures profit on the accrual basis of accounting, he or she counts depreciation as an expense. Buildings, machinery, tools, vehicles and furniture all have a limited...
Building Cash Reserves
Building a financial cushion for your business is never easy. Experts say that businesses should have anywhere from six to nine months worth of income safely stored away in the bank. If you're a business grossing $250,000 per month, the mere thought of saving over $1.5 million dollars in a savings account will either have you collapsing from fits of...
Budgeting
Ugh, budgeting is one of those topics we'd rather avoid, but in business, it's an absolute necessity. To prepare a reasoned and thoughtful budget, an accountant must start with a broad-based critical analysis of the most recent actual performance and position of the business by the managers who are responsible for the results. Then the managers decide...
Bookkeeping
So what goes on the accounting and bookkeeping departments? What do these people do on a daily basis? Well, one thing they do that's terribly important to everyone working there is Payroll. All the salaries and taxes earned and paid by every employee every pay period have to be recorded. The payroll department has to ensure that the appropriate federal,...
Friday, September 17
Basic Accounting Principles
Accounting has been defined as, by Professor of Accounting at the University of Michigan William A Paton as having one basic function: "facilitating the administration of economic activity. This function has two closely related phases: 1) measuring and arraying economic data; and 2) communicating the results of this process to interested parties."As...
Bookkeeping Basics
Most people probably think of bookkeeping and accounting as the same thing, but bookkeeping is really one function of accounting, while accounting encompasses many functions involved in managing the financial affairs of a business. Accountants prepare reports based, in part, on the work of bookkeepers.Bookkeepers perform all manner of record-keeping...
Careers
There are many different careers in the field of accounting ranging from entry-level bookkeeping to the Chief Financial Officer of a company. To achieve positions with more responsibility and higher salaries, it's necessary to have a degree in accounting as well as achieve various professional designations.One of the primary milestones in any accountant's...
Disclosure
Financial statements are the backbone of a complete financial report. In fact, a financial report is not complete if the three primary financial statements are not included. but a financial report is much more than just those statements. A financial report requires disclosures. This term refers to additional information provided in a financial report....
New smart phones won't be enough to rekindle Nokia market share
Remember when everything you knew there were phone cover Nokia? Nokia wants these days back, but with smartphones. He unveiled three new smartphone Nokia World in London today. PCWorld has more on the latest Nokia hopefuls:
New Nokia devices include Nokia E7-oriented business-oriented consumer C7 and revised version of the Nokia C6. all three devices...
Thursday, September 16
$ Foresakes Italian tourist resort for cultural integrity
Image: o2ma/Flickr
Toscana in Forte dei Marmi, resort where ultrawealthy spend 100 000 euro at Villa rental or € 1000 for a dinner reservation. Like many resort towns, local residents were forced from the skyrocketing prices of real estate, courtesy of millionaire tourists. Most tourist towns, which is part of life.But Forte dei Marmi, the Mayor takes...
Mass Media Theory vs. Reality
This is so true:
Source: toothpaste for dinn...
Why China Japan spat is leading to war
Last Tuesday, the Chinese fishing boat collided with the Japanese Coast Guard boats near the tiny island of Diaoyutai (as they are known to Taiwan China calls them the Diaoyu. Japan encourages them Senkaku. all three countries to claim them as your own.)
Japan's captain and crew hostage boat fishing. He released the crew today, but the master and...
Links this week
Education: secondary Education or just a status symbol? (via economy Roundtable).
Trendwatching in latest briefing (Maturialism) uses some interesting new products to show trends.
THE NYT has a neat visualization on religion and poverty: I'd like to see a similar one religion and education.
Harvard Business Review different looks at why men are more...
Wednesday, September 15
10 best online and traditional business schools
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Which business school should you attend? Figuring out where to get your MBA is crucial to your career, your connections, and your future.
Can you take two years off from work, or do you need your MBA to be part-time? On-campus or...
HP Buys ArcSight it security company
Hewlett-Packard buys ArcSight enterprise security company for $ 1.5 billion. Holy Uolle has more:
(Purchase remains HP) spending Spree, which began after the head Mark Hurd resigned last month.The deal is the latest purchase small security firm by a huge technology trends, while some see as the biggest tech considers the importance of including the...
Violent crime: it's not the economy
FBI recently released annual statistics indicating that violent crime decreased by 5.3% in 2009. Property crime declined 4.6%. 2009 is the third consecutive year that violent crime decreased.
These figures is contrary to the popular belief that bad recession like this lead to an increase in crime. Wall St. journal in Ashby Jones explains the fall...
You know you have too many books,
This may be intentional, too, of course ...
&nbs...
Monday, September 13
Business Accounting - Advice From an Expert
Businesses will have a hard time remaining fine without having a means of monitoring how expedient each venture or service is for them. Through using business accounting you will be given the tools to do honest that. This service does not only let a company store data and track cash flows as most enjoy, it also allows them to status failing ventures,...
Backbone of Business - first-rate Accounting Services
It is generally said that "pleasant Business Is urge By profitable Accountants". As per the saying, it is almost apt stating that obedient accounting policies will attract respectable clients or superb business. Undoubtedly, there are few other concerns which are needed to be considered while setting up a business. In order to speed a business in a...
Professional Athlete Tax Accounting
Professional athletes are some of the highest earners in the world so it is pertinent that they employee financial advice, succor, and guidance from highly trained, trusted, and experienced financial professionals. The financial professionals that are able to grasp on the job of handling the current needs of these athletic professionals are CPA firms...
The Fundamental Concepts of Accounting
The Federal Election was held in Australia on 21st of August 2010. During the rather slow election campaign there were questions raised by the major parties and everyone else for that matter, on how the elected government would go about accounting for the very stout amounts of money they receive and consume. These people talk in billions of dollars....
An Accounting Website to assist You
Wouldn't your finances be easy to compile and absorb if you had your gain accounting website? You can have one for exiguous or no cost. You have to exertion about miscalculating or mismanaging your sage balances if you had access to automated formulasIf all you manage is your believe personal finances you can trace up for Quicken Online Edition -...
Sunday, September 12
Methods For limited Business Accounting
tiny business accounting plays a crucial role in deciding the success of a business enterprise. Financial matters related to microscopic businesses are a limited different from that of the enormous business firms. So, if you wish to administer your business in a safe device, understating of these accounting matters are mandatory. Optimum utilization...
Forensic Accounting - What it Includes
Forensic accounting is intended for consume in a court of law or other factual processes and should be of the highest standard possible.The term "forensic" should not be confused with the laboratory work on DNA, toxicology and related sciences musty in solving other types of crimes. In the case of forensic accounting, the word applies to a scientific...
Accounting - A Core Investment Consideration
Accounting is a core business station that requires diligence on the portion of an investor. Simply the existing of accounting does not expose the business status is being effective. As an investor, reliable accounting can forecast issues allowing steps to be taken to prevent effort or can allow taking advantage of unexpected opportunities. ...
Tips For Accounting Outsourcing
Accounting is the significant portion in any size of business. Since accounting is a slow and time bright job but it is very considerable that accounting is outsourced to offshore company. This decision helps the company to concentrate in their space of specialization and not grief about the accounting aspect of the business. Outsourcing has several...
Accounting Conventions and Accounting Concepts
(1) Relevance The convention of relevance emphasizes the fact that only such information should be made available by accounting as is relevant and useful for achieving its objectives. For example, business is fervent in luminous as to what has been total labor cost? It is not alive to in incandescent how remarkable employees use and what they achieve.(2)...
Benefits of Accounting Business Outsource Process
For any business, accounting is a sector that needs kindly attention and maintainability. Only a well beneficial and adept professional who has the deep knowledge of creating and handling accounts business outsource process can retract your business to the targeted heights. The experts are responsible to manage several tasks like treasury back-office...
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