What's exactly Liabilities in Financial Accounting?
Economics - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Liabilities are basically like debts that the business owes to another person or business. For example a loan the business has to pay back to the bank is a liability.
Answer 2 :
Debts
Answer 3 :
It's debts of the business- anything that you are liabable to pay E.g Loans Items on Hire Purchase Business vechicle on finance goods obtained on credit When I was studying accounting i always found this useful DEAD CLIC Debit Expenses Assets Drawings Credit Liability Income Capital
Answer 4 :
Liabilities in a lay man's language refer to the money which they are liable to pay to the owners of that money.
Answer 5 :
Liabilities=assists-owners equity
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Sunday, November 14, 2010
Sunday, November 7, 2010
Accounting and finance careers?
Accounting and finance careers?
Hi, I'm currently in my final year of BSc Business Management degree and have not really thought of what career to go into yet (I know, it's bad!), and I'm thinking of going into accountancy or finance jobs. Although I haven't got any specific accountancy qualifications, I wouldn't mind getting a job and studying for professional qualifications at the same time, particularly in an organisation that encourages and trains you. Can you recommend any jobs for me, or particular job posts and what organisations I could possibly apply to? Thanks for your help!
Higher Education (University +) - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Assuming you are in the UK try CIMA: http://www.cimaglobal.com/cps/rde/xchg/SID-0AAAC544-53912702/live/root.xsl/aboutus.htm More business orientated than ACA and more highly regarded than ACCA. Re comment below. You sb aware that if you start your career in the public sector then you will tend to be typecast and find it more difficult to switch to the private sector in future. There is a high demand for accountants in the private sector so look at the big jobs websites like Gaapweb or Accountancy Age. Most employers will pay for exam fees and course fees but you tend not to get time off work for study leave. soni is reffering to US where the system is different. In the UK if you have a BSc in a business related subject then adding professional qualification like CIMA will put you in the best position in the jobs market. It also has the advantage that can start working, earning and building up your experience immediatly.
Answer 2 :
Try getting into a government finance department, they'll help you on the job training and you can get CIMA (best for management accountants)
Answer 3 :
Apply directly to accountancy offices - training is generally organised by them for you and run by a professional body. I studied for my ACCA while working as an accountant. You don't need specific accountancy qualifications for this, your degree will be perfect. Try also contacting the ICAEW (via their website), they will be able to give you a list of suitable accountants to apply to.
Answer 4 :
Hi, I will suggest u to do M.B.A.(finance), it will definitely help u ,because u r already pursuing ur bachlor degree, so I will not suggest u, to go for B.SC.(Accounting & Finance).better u earn master degree,then apply for some banking exams, or share trading exams, Mutual funds exams.....etc. U will be definitely build ur career in A/C & finance field. wish u best of luck.
Answer 5 :
I'm currently an accountant for American Greetings, I love my job. It all depends on where you live in order for me to suggest any organizations. Try logging onto www.eschoolsource.com , this site is for students to get help with their homework, and also for networking. You can search thru profiles by Employer or Major and try to come accross people who could help you. Good Luck
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Hi, I'm currently in my final year of BSc Business Management degree and have not really thought of what career to go into yet (I know, it's bad!), and I'm thinking of going into accountancy or finance jobs. Although I haven't got any specific accountancy qualifications, I wouldn't mind getting a job and studying for professional qualifications at the same time, particularly in an organisation that encourages and trains you. Can you recommend any jobs for me, or particular job posts and what organisations I could possibly apply to? Thanks for your help!
Higher Education (University +) - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Assuming you are in the UK try CIMA: http://www.cimaglobal.com/cps/rde/xchg/SID-0AAAC544-53912702/live/root.xsl/aboutus.htm More business orientated than ACA and more highly regarded than ACCA. Re comment below. You sb aware that if you start your career in the public sector then you will tend to be typecast and find it more difficult to switch to the private sector in future. There is a high demand for accountants in the private sector so look at the big jobs websites like Gaapweb or Accountancy Age. Most employers will pay for exam fees and course fees but you tend not to get time off work for study leave. soni is reffering to US where the system is different. In the UK if you have a BSc in a business related subject then adding professional qualification like CIMA will put you in the best position in the jobs market. It also has the advantage that can start working, earning and building up your experience immediatly.
Answer 2 :
Try getting into a government finance department, they'll help you on the job training and you can get CIMA (best for management accountants)
Answer 3 :
Apply directly to accountancy offices - training is generally organised by them for you and run by a professional body. I studied for my ACCA while working as an accountant. You don't need specific accountancy qualifications for this, your degree will be perfect. Try also contacting the ICAEW (via their website), they will be able to give you a list of suitable accountants to apply to.
Answer 4 :
Hi, I will suggest u to do M.B.A.(finance), it will definitely help u ,because u r already pursuing ur bachlor degree, so I will not suggest u, to go for B.SC.(Accounting & Finance).better u earn master degree,then apply for some banking exams, or share trading exams, Mutual funds exams.....etc. U will be definitely build ur career in A/C & finance field. wish u best of luck.
Answer 5 :
I'm currently an accountant for American Greetings, I love my job. It all depends on where you live in order for me to suggest any organizations. Try logging onto www.eschoolsource.com , this site is for students to get help with their homework, and also for networking. You can search thru profiles by Employer or Major and try to come accross people who could help you. Good Luck
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Monday, November 1, 2010
My A- level Accounting teacher told us that many accounting?
My A- level Accounting teacher told us that many accounting?
firms prefer to employ people who do NOT have a degree in Accounting but in something completely different eg. Economics... Chemistry...... Is this true? If so, why?
Financial Services - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
What country are you in? I would think a good accounting firm would want a variety of backgrounds...not just a numbers focus. The US has to deal with a structure problem in that many firms had to have CPAs as owners and that meant an automatic glass ceiling for the non-accountants. When I left the field, "principals" were a new designation to indicate they were the equals to the "partners." PS, I remember audit stories (inside and outside of the firm) that gleefully showed the click moment when thinking outside the box. Eg, guy was auditing a massage firm. Firm claimed all records were destroyed in a fire and was low balling what they remembered as revenue. Auditor reflected on *how* a massage firm worked and realized that the towels going to the laundry was a given. He found the laundry bills, figured out how to convert pounds of laundry to number of towels, 2-3 towels per customer, how many customers, how much revenue, etc. Apparently his numbers were fairly close because the firm caved.
Answer 2 :
Most want a degree in Accounting preferably with a CPA. My degree is in Philosophy and I believe that has helped me in the workplace especially in dealing with costs. But it has made it more difficult to get a job especially as I got higher level positions. A lot of companies are advised by CPA firms and they want to increase the markets and prove that the degree and the CPA is the best value.
Answer 3 :
Many companies simply ask that applicants are educated to degree level - it doesn't always have to be a related subject. Having a degree proves that you are bright and have the ability and aptitude to learn and study.
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firms prefer to employ people who do NOT have a degree in Accounting but in something completely different eg. Economics... Chemistry...... Is this true? If so, why?
Financial Services - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
What country are you in? I would think a good accounting firm would want a variety of backgrounds...not just a numbers focus. The US has to deal with a structure problem in that many firms had to have CPAs as owners and that meant an automatic glass ceiling for the non-accountants. When I left the field, "principals" were a new designation to indicate they were the equals to the "partners." PS, I remember audit stories (inside and outside of the firm) that gleefully showed the click moment when thinking outside the box. Eg, guy was auditing a massage firm. Firm claimed all records were destroyed in a fire and was low balling what they remembered as revenue. Auditor reflected on *how* a massage firm worked and realized that the towels going to the laundry was a given. He found the laundry bills, figured out how to convert pounds of laundry to number of towels, 2-3 towels per customer, how many customers, how much revenue, etc. Apparently his numbers were fairly close because the firm caved.
Answer 2 :
Most want a degree in Accounting preferably with a CPA. My degree is in Philosophy and I believe that has helped me in the workplace especially in dealing with costs. But it has made it more difficult to get a job especially as I got higher level positions. A lot of companies are advised by CPA firms and they want to increase the markets and prove that the degree and the CPA is the best value.
Answer 3 :
Many companies simply ask that applicants are educated to degree level - it doesn't always have to be a related subject. Having a degree proves that you are bright and have the ability and aptitude to learn and study.
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Thursday, October 28, 2010
Are there any other decent websites to revise A Level Accounting & Economics (apart from tutor2u & s-cool)?
Are there any other decent websites to revise A Level Accounting & Economics (apart from tutor2u & s-cool)?
Also any websites for A Level Maths?
Homework Help - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Dont do maths.
Answer 2 :
http://www.s-cool.co.uk/subject_index.asp?stage=A http://www.isd77.k12.mn.us/resources/sturesources.html Free Revision and Course Notes for A-levelStudents http://www.universalteacher.org.uk/default.htm http://www.revision-notes.co.uk/A_Level/index.html http://uk.ask.com/web?siteid=41439033&qsrc=999&l=dis&q=A%20Level%20Revision&scope=web&gc=1
Answer 3 :
Try this: http://simplestudies.com for accounting.
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Also any websites for A Level Maths?
Homework Help - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Dont do maths.
Answer 2 :
http://www.s-cool.co.uk/subject_index.asp?stage=A http://www.isd77.k12.mn.us/resources/sturesources.html Free Revision and Course Notes for A-levelStudents http://www.universalteacher.org.uk/default.htm http://www.revision-notes.co.uk/A_Level/index.html http://uk.ask.com/web?siteid=41439033&qsrc=999&l=dis&q=A%20Level%20Revision&scope=web&gc=1
Answer 3 :
Try this: http://simplestudies.com for accounting.
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Thursday, October 14, 2010
Any Institute providing short term accounting courses with placement?
Any Institute providing short term accounting courses with placement?
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Did you get ahold of your local VOTECH. Vocational training for adults. they usually have open ended classes and job placement.
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Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Did you get ahold of your local VOTECH. Vocational training for adults. they usually have open ended classes and job placement.
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Thursday, October 7, 2010
In accounting and spreadsheets, what are 'sales'? are they the amount of goods sold or the money made ?
In accounting and spreadsheets, what are 'sales'? are they the amount of goods sold or the money made ?
the amount of money made from those goods? Or is it profit? or could they be looked at as the same thing?
Other - Business & Finance - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
you are right
Answer 2 :
The value of the goods sold, ie the revenue.
Answer 3 :
I think sales is the amount of goods sold which is not necessarily the same as profit. There would be a separate sheet for the profit or loss.
Answer 4 :
'Sales' are income or revenue from sales of products or services provided. The money made or profit will be the difference between the revenue from sales and the costs involved in producing that revenue, including running the company.
Answer 5 :
Sales is the total amount of money you receive from your customers. From that you deduct the "cost of sales", which is things like the price you paid for the stock, cost of delivery in and delivery out etc. This gives you your gross profit. From that you deduct general expenses such as utility bills, wages, rent etc. That gives you your net profit.
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the amount of money made from those goods? Or is it profit? or could they be looked at as the same thing?
Other - Business & Finance - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
you are right
Answer 2 :
The value of the goods sold, ie the revenue.
Answer 3 :
I think sales is the amount of goods sold which is not necessarily the same as profit. There would be a separate sheet for the profit or loss.
Answer 4 :
'Sales' are income or revenue from sales of products or services provided. The money made or profit will be the difference between the revenue from sales and the costs involved in producing that revenue, including running the company.
Answer 5 :
Sales is the total amount of money you receive from your customers. From that you deduct the "cost of sales", which is things like the price you paid for the stock, cost of delivery in and delivery out etc. This gives you your gross profit. From that you deduct general expenses such as utility bills, wages, rent etc. That gives you your net profit.
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Friday, October 1, 2010
Where can I buy "Management Accounting 2nd Ed." from?
Where can I buy "Management Accounting 2nd Ed." from?
I don't mind a higher vversion than 2nd edition e.g. 3rd edition or 4th edition! Ideally could the price be under £35 and not from amazon! Thank you! Best answers get 1, 10 or 11 points! whoops!! i mean version not wersion!
Higher Education (University +) - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
1. check out the uni notice board, sometimes you might have senior selling their reference books. 2. Check out the Market place at Amazon.co.uk - where you have many individual sellers selling used or near new reference text books. i used to buy and sell there and it is a good way to get reference text book at a great price. 3. Post a notice on your uni notice board and post it online and specify out the bok and edition you wanna buy.
Answer 2 :
First of all you need to get the author's name because there'll be so many books with that exact title. Then check online shops like ebay. I don't now why u don't like amazon-they are sure to have it and deliver fast too. AND they usually give a good deal-cheaper than traditional bookshops. That said, the cheapest way to go about it is to ask seniors or visit your college bookshop.
Answer 3 :
i know you said not amazon, but there is one selling under £35, infact its £20. Hope this helps!
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I don't mind a higher vversion than 2nd edition e.g. 3rd edition or 4th edition! Ideally could the price be under £35 and not from amazon! Thank you! Best answers get 1, 10 or 11 points! whoops!! i mean version not wersion!
Higher Education (University +) - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
1. check out the uni notice board, sometimes you might have senior selling their reference books. 2. Check out the Market place at Amazon.co.uk - where you have many individual sellers selling used or near new reference text books. i used to buy and sell there and it is a good way to get reference text book at a great price. 3. Post a notice on your uni notice board and post it online and specify out the bok and edition you wanna buy.
Answer 2 :
First of all you need to get the author's name because there'll be so many books with that exact title. Then check online shops like ebay. I don't now why u don't like amazon-they are sure to have it and deliver fast too. AND they usually give a good deal-cheaper than traditional bookshops. That said, the cheapest way to go about it is to ask seniors or visit your college bookshop.
Answer 3 :
i know you said not amazon, but there is one selling under £35, infact its £20. Hope this helps!
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