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
Read more other entries :
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.
Read more other entries :
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.
Read more other entries :
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
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.
Read more other entries :
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.
Read more other entries :
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.
Read more other entries :
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.
Read more other entries :
Tuesday, May 28, 2013
Apreticeship in accounting or any clerical job!?
Apreticeship in accounting or any clerical job!?
I'm brazilian, 29 year-old, married and I'd like to restart my career in London. I'm studying English and I've just finished my bookkeeping course (Level 1). I've got 5 years experience in finance and accounting in Brazil. I'm looking for opportunities that I can improve my english and get more skills. Does someone can give me some advice!?
Food Service - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Well, I might suggest starting off in the Hotel industry. There is always a need for clerks, and the night shift clerk usually does the days tally. Plus, a clean enviroment. good luck
Answer 2 :
You should find it very easy to get temporary work in accounts whilst you get yourself sorted with a permanent role. You should have enough experience and transferable skills even from working in another country. I have heard that it is difficult to get any decent job in London without a degree. I do not know how true that is as i don't live there, but a work colleague did do for a number of years.
Read more other entries :
I'm brazilian, 29 year-old, married and I'd like to restart my career in London. I'm studying English and I've just finished my bookkeeping course (Level 1). I've got 5 years experience in finance and accounting in Brazil. I'm looking for opportunities that I can improve my english and get more skills. Does someone can give me some advice!?
Food Service - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Well, I might suggest starting off in the Hotel industry. There is always a need for clerks, and the night shift clerk usually does the days tally. Plus, a clean enviroment. good luck
Answer 2 :
You should find it very easy to get temporary work in accounts whilst you get yourself sorted with a permanent role. You should have enough experience and transferable skills even from working in another country. I have heard that it is difficult to get any decent job in London without a degree. I do not know how true that is as i don't live there, but a work colleague did do for a number of years.
Read more other entries :
Tuesday, May 14, 2013
why accounting entity concept so important?can u give some example for me?
why accounting entity concept so important?can u give some example for me?
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
not sure itmust be related to some princip0le or another
Answer 2 :
The idea here is that the financial transactions of one individual or a group of individuals must be kept separate from any unrelated financial transactions of those same individuals or group. The best example here concerns that of the sole trader or one man business: in this situation you may have the sole trader taking money by way of 'drawings': money for his own personal use. Despite it being his business and apparently his money, there are still two aspects to the transaction: the business is 'giving' money and the individual is 'receiving' money. So, the affairs of the individuals behind a business must be kept separate from the affairs of the business itself.
Read more other entries :
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
not sure itmust be related to some princip0le or another
Answer 2 :
The idea here is that the financial transactions of one individual or a group of individuals must be kept separate from any unrelated financial transactions of those same individuals or group. The best example here concerns that of the sole trader or one man business: in this situation you may have the sole trader taking money by way of 'drawings': money for his own personal use. Despite it being his business and apparently his money, there are still two aspects to the transaction: the business is 'giving' money and the individual is 'receiving' money. So, the affairs of the individuals behind a business must be kept separate from the affairs of the business itself.
Read more other entries :
Tuesday, May 7, 2013
what is the defrent bettwen finance and accounting?
what is the defrent bettwen finance and accounting?
Other - Business & Finance - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
you plan to finance accounting you count it
Answer 2 :
Finance involves share trading, foreign exchange, puts & calls basically the finance markets Accounting involves organise and accounting for your finances. Accounting for business involves recording and accounting for income & expenses
Answer 3 :
ever heard of spell check?
Answer 4 :
You mean the difference between finance and accounting? The difference is in their meaning: while finance is concerned with the sourcing and use of money and anything that has to do with forecasting, budgeting and analysis of future business activities, accounting, on the other hand is concerned, solely with the recording, classifying and analysis of the documents resulting from business transactions like sales and expenditures of a business enterprise
Read more other entries :
Other - Business & Finance - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
you plan to finance accounting you count it
Answer 2 :
Finance involves share trading, foreign exchange, puts & calls basically the finance markets Accounting involves organise and accounting for your finances. Accounting for business involves recording and accounting for income & expenses
Answer 3 :
ever heard of spell check?
Answer 4 :
You mean the difference between finance and accounting? The difference is in their meaning: while finance is concerned with the sourcing and use of money and anything that has to do with forecasting, budgeting and analysis of future business activities, accounting, on the other hand is concerned, solely with the recording, classifying and analysis of the documents resulting from business transactions like sales and expenditures of a business enterprise
Read more other entries :
Subscribe to:
Posts (Atom)