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Basics of accounting

Basics of accounting

Most people think probably bookkeeping and accounting as the same thing, but accounting is really a function of accounting, while accounting includes many functions involved in the management of the financial affairs of a company. Accountants prepare reports, partly on the basis of the work of accountants.

Accountants perform all sorts of monitoring tasks. Some of them are the following:

-They prepare what source for all operations of a business to buy, sell, transfer, pay and collect documents. The documents are documents such as purchase orders, invoices, credit card slips, time cards, leaves of time and expense reports. Accountants also determine and enter the source documents that the consequences, financial transactions and other corporate events. These include the remuneration of workers, the sale, borrow money or buy products or materials first for production.

-Accounting are also display the financial consequences in magazines and accounts. These are two different things. A newspaper is the recording of transactions in chronological order. A year is a separate account record, or in the page for each asset and liability item. A transaction may affect different accounts.

-Accountants prepare reports after a certain period of time, like all the days, quarterly, weekly, monthly or yearly. To do this, all accounts on the height. Inventory records must be updated and reports checked and double checked to ensure that they are as error free as possible.

-Accountants also compile complete lists of all accounts. This is called the adjusted balance. While a small company can have hundreds of accounts, can be very big companies have more than 10,000 accounts.

-The last step is for the accountant at the closing of the books, which means all the accountants for a fiscal year close and summaries.

Basics of accounting - Internet Business Online News


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