What do Accountants need from Book-keepers for completing year end accounts and tax returns?
I'm starting working as a Book-keeper. If I work upto Trial Balance what would information would an Accountant expect from me in addition to the Trial Balance? eg notes on accounts, accounting policies being used, dates for prepayments, end of period stock figures, depreciation info, other adjustments?. Ayy help is much appreciated, thanks.
United Kingdom - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
why you doing the job if you don't already know that? Ask the accountant what he needs from you!
Answer 2 :
On it sites are good top links for decisions of your problem http://finin.100webspace.net/r.php?qid=6AAy7Y3
Answer 3 :
Firstly, there are not enough good bookkeepers in the world, good on you :-). If you plan to work to trial balance stage, as an accountant I would expect the following very helpful but simple things:- * Copies of Fixed Asset addition invoices (high value amount of equipment etc) * A breakdown of any prepayments and accruals together with a note of the calculation used (a copy invoice is also handy here) * A bank reconciliation together with all bank statements for the year - This is the single most important thing, if you do only one thing on the list, make it this ok. * Copies of any invoices which are dated during the year or period in question but were paid after the year end (to bring in as trade creditors) * Copies of any new finance agreements or loan agreements * A breakdown of the capital account or drawings figure * A breakdown of some of the expenses such as Legal Fees, Rent and Rates, Accountancy and Insurances. If a particular expense has increased/decreased considerably over a two year period, include reasons why. If you make a good job of the book-keeping, and you complete the above list prior to passing to an accountant, you will save your client £100's. A well constructed trial balance and the above list is a dream come true. It remains to be seen however if the accountants pass on the benefits of your hard work to your client. Dont be scared to confront them based on the amount and quality of work you have done. Good luck Craig
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Friday, June 28, 2013
Friday, June 14, 2013
Which accounting software is compatible with indian accounting system ?
Which accounting software is compatible with indian accounting system ?
1. Can we use Quikbooks, Peachtree or sage line 50 in india?, 2. vender available in india for these softwares?
Software - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Better option would be to use something which is already customized for India. Examples are:- 1) Tally 2) EX
Answer 2 :
Its tally .....
Answer 3 :
You can use Exactlly Gold Accounting package. It is made by La Exactlly Software. It is a very well designed, user friendly, lots of diversity. And u can even get a AMC throughout the year. It is increasing its sale in a high rate.
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1. Can we use Quikbooks, Peachtree or sage line 50 in india?, 2. vender available in india for these softwares?
Software - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Better option would be to use something which is already customized for India. Examples are:- 1) Tally 2) EX
Answer 2 :
Its tally .....
Answer 3 :
You can use Exactlly Gold Accounting package. It is made by La Exactlly Software. It is a very well designed, user friendly, lots of diversity. And u can even get a AMC throughout the year. It is increasing its sale in a high rate.
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Friday, June 7, 2013
management and cost accounting?
management and cost accounting?
i have an exam on tuesday with mangement and cost accounting. does anyone know of any sites which could help with things like 1)activity based costing 2)process costing 3)traditional costing etc any help would be very much appreciated.
Other - Business & Finance - 2 Answers
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Answer 1 :
http://www.finance-glossary.com/terms/current-cost-accounting.htm?ginPtrCode=00000&id=1692&PopupMode=false
Answer 2 :
Frankly frankie, text books are a lot better. Dash off to the library this minute. Goodluck.
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i have an exam on tuesday with mangement and cost accounting. does anyone know of any sites which could help with things like 1)activity based costing 2)process costing 3)traditional costing etc any help would be very much appreciated.
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
http://www.finance-glossary.com/terms/current-cost-accounting.htm?ginPtrCode=00000&id=1692&PopupMode=false
Answer 2 :
Frankly frankie, text books are a lot better. Dash off to the library this minute. Goodluck.
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Saturday, June 1, 2013
does management accounting is very important in an organization?why?
does management accounting is very important in an organization?why?
Corporations - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Management accounting analyses the financial results of an organisation so the management can understand how the organisation has been operating. Sales revenue is broken down by product and by geographical area. Operating costs are broken down into the main different elements. Overheads are broken down into the main components. These results are compared to previous periods and the budget. Management accounting is the main way the management of a company can understand what has been happening to the company for past periods. Usually an updated forecast for the next few months and/or for the full year will also be produced. By understanding what has happened in an organisation management can take action to correct problem trends which is why management accounting is so important to an organisation.
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Corporations - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Management accounting analyses the financial results of an organisation so the management can understand how the organisation has been operating. Sales revenue is broken down by product and by geographical area. Operating costs are broken down into the main different elements. Overheads are broken down into the main components. These results are compared to previous periods and the budget. Management accounting is the main way the management of a company can understand what has been happening to the company for past periods. Usually an updated forecast for the next few months and/or for the full year will also be produced. By understanding what has happened in an organisation management can take action to correct problem trends which is why management accounting is so important to an organisation.
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