1 Chart of Accounts for the MPC A Chart of Accounts is a listing of all the accounts in the General Ledger. It represents the organization of the business s financial records. Each account functions like a piece of a puzzle that the Accountant can fit together to form the various reports and records needed to manage the business. The identification and quantity of accounts varies with the size and complexity of the business. Although new accounts can be added as a business grows, by planning ahead that growth can be accounted for easier with a wellthought out Chart of Accounts. Although financial software such as Quickbooks does not require it, accounts should be numbered as an aid to organization and identification. Standard account numbering is as follows: , Asset accounts: what the business owns , Liability accounts: what the business owes , Equity accounts: the ownership record , Revenue or Sales accounts: your Point of Sale departments would be basic , Cost of Goods Sold accounts: purchases of services and merchandise for resale , Operating Expense Accounts: general business expenses , Other Revenue , Other Expense The sequence of the digits function as further identifiers, aiding in the recognition of sub-accounts. For example, 1000 to 1999 are Asset accounts to 1099 would be Current Assets 1020 to 1029 would be Cash Accounts, such as Cash on Hand 1030 to 1039 would be Bank Accounts, such as Checking Etc. Similar sub-categorization by number applies to each account group. The sequence of accounts Assets, Liabilities, Owners Equity, Sales, Cost of Sales, Expense, and Other follows accounting convention. You could organize them however you wish and, as long as you re the one doing the books, probably have a wonderful system, but an unhappy Accountant, and it is generally good business advice to do what your Accountant and lawyer recommend, or be prepared for some expensive I told you so s. MPC Coaches advocates a management reporting system called Profit Centering, the detailed matching of Sales accounts to Cost of Sales accounts which results in a better understanding of a business s strengths and opportunities. The Chart of Accounts that follows is an example of maximum detail and may be unnecessary for your business. Utilize only the accounts that apply. However, if you follow its format, you will always have room to grow with maximum management information. Whatever you do, don t include a Sales account without a matching Cost of Sales account, except for product categories with less than $100/month in sales. Those can be lumped into general accounts, and probably considered for elimination. Additionally, some recommended accounts are Accrual type, while most MPC s are initially organized as Cash. MPCCN believes that the management information provided by accrual accounting is worth the additional effort, especially concerning the potential losses from poor audit control of the cash in USPS Meter and USPS Stamps.
2 Some accounts are required by the I.R.S., such as the Expense accounts for Advertising, Travel, and Entertainment, and others for State and Local taxes. This Chart of Accounts should be reviewed and approved by your Accountant for applicable legal compliance. It is designed for a proprietorship, partnership, or LLC, the most common forms of organization for an MPC. The appropriate accounts for a corporation can be added according to your Accountant s recommendation if necessary. The use of Miscellaneous accounts is to be discouraged a good rule of thumb is if entries exceed $100/mo., create an appropriate account. In all cases MPC Coaches defers to your Accountant. Don t call us with their comments or complaints. Take their advice or change Accountants. * Indicates recommended minimum account. Assets Current Assets 1000, Cash *1010, Cash on Hand: in Till, your daily opening balance. 1012, Petty Cash: a separate fund for minor purchases (NEVER paid from till!) *1020, Regular Checking Account 1030, Payroll or Other Checking Account 1040, Savings Account 1050, Other Account: investment, PayPal, etc. 1060, Other Account: Money Orders, Utility Collections, Western Union *1100, Accounts Receivable 1140, Other Receivables 1150, Allowance for Doubtful Accounts *1200, Inventory *1210, Merchandise Inventory 1212, Boxes and Packaging Goods 1214, Greeting Cards 1216, Office Supplies 1218, Gift or Impulse *1220, USPS Meter 1222, Endicia or Stamps.com *1230, USPS Stamps 1240, Copier Inventory (paper, etc.) 1300, Deposits Refundable: Lease security deposit, etc. 1400, Prepaid Expenses: Prepaid rent, etc. 1410, Notes Receivable, Current 1420, Prepaid Interest 1450, Other Current Assets Fixed Assets *1500, Furniture and Fixtures *1510, Machinery and Equipment *1520, Office Equipment 1530, Vehicles *1540, Leaseholds 1550, Buildings 1560, Building Improvements 1600, Land *1700, Accumulated Depreciation, Furniture and Fixtures *1710, Accumulated Depreciation, Machinery and Equipment *1720, Accumulated Depreciation, Office Equipment 1730, Accumulated Depreciation, Vehicles *1740, Accumulated Depreciation, Leaseholds 1750, Accumulated Depreciation, Buildings 1760, Accumulated Depreciation, Building Improvements 2
3 3 Other Assets 1910, Organization Costs 1915, Accumulated Amortization, Organization Costs 1920, Notes Receivable, non-current 1950, Other Non-Current Assets Liabilities Current Liabilities *2010, Accounts Payable, Trade 2020, Franchise or Licensing Fees Payable 2030, Wages Payable 2040, Employee Benefits Payable 2042, Employer s Contribution to Health Insurance Payable 2044, Vacation Accrued 2046, Retirement Plan Contribution Payable *2100, State Sales & Use Taxes Payable 2120, Local Sales & Use Taxes Payable *2200, Payroll Taxes Payable 2210, Federal Income Taxes Withheld 2215, Medicare Taxes Withheld 2220, FICA Withheld 2222, Employee FICA Withheld 2224, Employer s FICA Contribution Withheld 2230, FUTA Payable 2240, State Payroll Taxes Payable 2250, SUTA Payable 2260, Local Payroll Taxes Payable 2310, Federal Income Taxes Payable 2370, Other Taxes Payable 2400, Customer Deposits 2425, Mailbox Customer Forwarding Postage 2435, Customer Bulk Mail Postage 2500, Collection Liability Accounts 2610, Principal Payable for Money Orders 2620, Undeposited Utility or other Consumer Payments 2600, Current Portion of Long-Term Debt 2650, Other Current Liabilities Long Term Liabilities 2700, Notes Payable 2800, Bank Loans Payable 2900, Other Long Term Payables Owner s Equity *3000, Stated Capital 3010, Partner/Owner A 3020, Partner/Owner B *3100, Drawing Account 3110, Partner/Owner A 3120, Partner/Owner B *3200, Net Income *3300, Retained Earnings
4 4 Sales *4100, Shipping Sales *4110, UPS or Carrier #1 4012, UPS Ground Sales 4014, UPS Air Sales 4018, UPS D/O Compensation *4120, FedEx or Carrier #2 4112, FedEx Ground Sales 4114, FedEx Air Sales 4128, FedEx D/O Compensation *4130, DHL or Carrier #3 4032, DHL D/O Compensation *4140, USPS (metered postage) or Carrier #4 4150, Carrier #5 4160, Alternate Freight (LTL, Padded Van, Etc.) 4170, Alternate Insurance 4200, Shipping Related Services *4210, Wrap & Pack Service 4220, Crating 4230, Gift Wrap 4240, Pickup or Delivery (local cartage) *4300, Services 4310, Notary Service 4320, Fax Service 4330, Bulk Mail Service 4340, Passport Photos 4344, Passport Expediting 4350, Computer Services 4360, Keymaking Service 4370, Fingerprinting Service *4400, Copies & Print 4410, B&W Copies 4420, Color Copies 4430, Large Format Copies 4440, Bindery Services & Finish Work 4450, Graphic Design 4460, Printing 4470, Signs & Banners 4480, Rubber Stamps *4500, Mailbox Rental Income 4510, Mailbox Rents 4520, Mailbox Forwarding Fees 4530, Other Mailbox Services *4600, Retail Sales *4610, Boxes and Packaging Goods 4615, Wholesale Packaging 4620, Office Supplies 4630, Greeting Cards 4640, Giftware 4650, Impulse Items 4660, Key Merchandise 4700, Commissioned Sales 4710, Money Order Commissions 4720, Western Union Commissions 4730, Lottery Ticket Sales Commissions 4740, Gift Card Commissions 4750, Phone Card Commissions Profit Centering The single most important step a retailer can take with their Chart of Accounts is Profit Centering, the process of matching Sales departments to Cost of Sales accounts so profit contribution can be recognized by Sales Mix. MPC Coaches recommends that any sales account that exceeds $300/mo. in sales have its own, matching COS account.
5 4760, ebay Service Commissions 4770, USPS Commission (if Contract Postal Unit) *4790, Postage Stamp Sales 4800, Sales Returns and Allowances (Contra Account) 4900, Sales Discounts (Contra Account) 5 Cost of Sales *5010, Beginning Inventory, Merchandise 5012, Beginning Inventory, Boxes and Packaging Goods 5014, Beginning Inventory, Greeting Cards *5040, Beginning Inventory, Meter (Meter $ beginning of period) *5090, Beginning Inventory, Postage Stamps *5110, UPS or Carrier #1 Purchases 5112, UPS Ground Purchases 5114, UPS Air Purchases *5120, FedEx or Carrier #2 Purchases 5122, FedEx Ground Purchases 5124, FedEx Air Purchases *5130, DHL or Carrier #3 Purchases *5140, USPS Meter Purchases, or Carrier #4 5142, Meter Lease(s) 5144, Meter Supplies 5150, Carrier #5 Purchases 5160, Alternate Freight Purchases 5170, Alternate Insurance Purchases 5200, Subcontract Labor, Crates or Local Cartage *5320, Fax Purchases (primarily the fax portion of your long-distance bill) 5330, Bulk Mail Purchases 5334, Bulk Mail Contract Labor or Services 5370, Fingerprinting Equipment Lease or Other Purchase 5340, Passport Photo Supplies Purchases 5344, Passport Expediting Purchases 5360, Keymaking Supplies Purchases *5400, Copies and Printing Purchases 5410, Copy Equipment Lease(s) 5420, Copier Maintenance 5430, Copier Materials and Supplies 5450, Subcontract Printing or Design Services 5480, Rubber Stamp Purchases 5500, Mailbox Purchases 5520, Mailbox Forwarding Postage Expense 5540, Mail P/U or Delivery Expense (Firm Holdout p/u by local courier) *5600, Retail Merchandise Purchases 5610, Boxes and Packaging Purchases 5615, Gift Wrap Purchases 5620, Office Supplies for Resale Purchases 5630, Greeting Cards Purchases 5640, Giftware Purchases 5650, Impulse Item Purchases 5660, Key Merchandise Purchases 5700, Commissioned Sales Purchases 5710, Money Order Maintenance, Charge Backs, or Supply Purchases 5715, Money Order Bank Account Fees 5720, Western Union Fees, Charge Backs, or Other Purchases 5715, Western Union Bank Account Fees 5730, Lottery Ticket Maintenance Fees or Other Purchases 5740, Gift Card Maintenance Fees, Charge Backs, or Other Purchases Regarding Cost of Sales Although most accountants will advise an MPC to adopt what s known as Cash Basis Accounting, management reporting and control will be greatly enhanced by utilizing the Accrual method of costing for at least the Meter and Postage Stamp accounts, hence the recommendation for B/I and E/I accounts. For management purposes, let at least these two accounts be treated as Accrual, but reported as Cash if your accountant insists.
6 5750, Phone Card Maintenance Fees, Charge Backs, or Other Purchases 5760, ebay Fees 5765, PayPal Fees *5790, Postage Stamp Purchases *5910, Ending Inventory, Merchandise 5912, Ending Inventory, Boxes and Packaging Goods 5914, Ending Inventory, Greeting Cards *5940, Ending Inventory, Meter (Meter $ end of period) *5990, Ending Inventory, Postage Stamps 6 Operating Expenses *6000, Payroll Expense 6010, Labor or Hourly Employee Expense 6015, Seasonal or Temporary Employee Expense 6020, Manager s Salary Expense 6025, Owner s Salary (NOT a Draw) *6030, Payroll Taxes 6032, Employer s FICA Share 6034, FUTA Expense 6036, SUTA Expense 6037, State Payroll Taxes 6038, Local Payroll Taxes 6040, Employee Bonuses 6050, Payroll Benefits 6060, Contract Labor *6100, Advertising & Marketing Expense 6110, Yellow Pages Classified 6120, Web Page Expense 6130, Promotional Items *6200, Accounting, Legal, and Professional Expense 6210, Accounting Expense 6220, Legal Expense 6230, Amortization Expense *6240, Bank Service Charges *6250, Bad Debt Expense *6260, Cash Over/Short *6270, Claims Expense, Loss, Damage, & Service Failure 6272, Claims, Customer Relations & Good Will *6280, Credit Card Service Charges *6300, Contributions *6320, Dues, Memberships, and Subscriptions *6400, Depreciation Expense *6430, Equipment Lease or Rental Expense *6500, Entertainment & Travel Expense 6510, Entertainment 6520, Travel 6530, Meals 6550, Franchise Expense 6554, Franchise Royalty 6556, Franchise Advertising *6560, Insurance Expense 6562, General Business & Liability Insurance 6564, Partnership Insurance 6566, Worker s Compensation Insurance 6568, Company Vehicle Insurance *6570, Interest Expense 6572, Short Term Interest 6574, Long Term Interest Time To Check Profit? Frequently you ll find that a carrier s billing invoice period DOES NOT coincide with your accounting period. That is, you end your year or month by calendar day, they bill by week. Until the end of the period this is a small matter, but when the month ends on Wednesday, but their bill is for Monday through Saturday, half the week s sales are in one month, while half the week s purchases are in another. If you want your Income Statement to show your true profit for that carrier, then you must split the invoice, allocating half your COS to one month, and half to the other.
7 *6580, Internet Service Expense *6590, Licenses & Permits *6600, Maintenance & Repairs 6610, Facility Maintenance & Repairs 6620, Equipment Maintenance & Repairs 6630, Computer Maintenance & Repairs *6650, Office Supplies 6652, Shipping Supplies 6654, Office Supplies, Operations 6656, Office Supplies, Management *6670, Postage Expense (excluding marketing) 6672, USPS Expense 6674, Shipping Expense *6700, Rent Expense 6710, C.A.M. Expense 6720, Warehouse or Storage Rent 6730, Security & Alarm *6740, Taxes 6742, Personal Property Taxes 6744, State Taxes 6746, Local Taxes *6750, Telephone Expense 6752, Primary Phone Service 6754, Long Distance Service 6756, Cellular Service 6760, Training Expense *6770, Utilities Expense 6772, Gas & Electric 6774, Water 6775, Garbage 6800, Vehicle Expense 6900, Miscellaneous Operating Expense 7 Other Revenue 7000, Other Revenue 7100, Interest Income Other Expense 8000, Other Expense
STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION BALANCE SHEET As of ASSETS CURRENT ASSETS Cash and Cash Equivalents Cash - Restricted Accounts Receivable - Trade Accounts Receivable
CHART OF ACCOUNTS A contractor s chart of accounts is the heart of the accounting system. Of particular importance is the cost of sales section (beginning in the 41000 series and ending in 43000). This
Chart of Accounts A company s Chart of Accounts is a list of all Asset, Liability, Equity, Revenue, and Expense accounts included in the company s General Ledger. The number of accounts included in the
CHAPTER 2 CUSTOMIZING QUICKBOOKS AND THE CHART OF ACCOUNTS INSTRUCTOR NOTE: Assignments that can be graded using the QuickBooks Grade Assistant are designated with a *. To download the QuickBooks Grade
Journals and Ledgers TRANSACTION PROCESSING: DOCUMENTS AND PROCEDURES IN A MANUAL AIS One basic function of the AIS is the efficient and effective processing of data about a company s transactions. Transaction
Chart of Accounts for JD Edwards EnterpriseOne (Oracle Business Accelerators North America) An Oracle White Paper January 2008 PURPOSE STATEMENT THIS DOCUMENT PROVIDES AN OVERVIEW OF FEATURES AND ENHANCEMENTS
STANDARD CHART OF ACCOUNTS FOR ASSOCIATIONS (Developed by the ASAE Finance and Administration Section Council) INTRODUCTION For an association to carry out its purpose and meet its fiscal responsibility,
ln following you will gain a better understanding accounting how different transactions are processed in the accounting system. There are a number of unique transactions that take place in construction
USING QUICKBOOKS TO RECORD RESTRICTED TRANSACTIONS Recording Pledges Pledges are unconditional promises that a donor gives to your organization, which could include a promise for money over a period of
Financial Plan The Financial Plan is perhaps one of the most important components of your Business Plan (see Business Plan Handout). Not only is it essential if you are seeking external financing it is
Business Start Up Basics III Intro to Accounting Presented by: Suzie Dills SBDC Business Consultant Agenda Key Objectives of the Course Brief History & Definition of Accounting General Ledger Double Entry
The City of New York BUSINESS INTEGRITY COMMISSION 100 Church Street 20th Floor New York New York 10007 Tel. (212) 676-6219 Fax (212) 676-6227 BROKER FINANCIAL STATEMENTS 2014 REGISTRANT NAME REGISTRATION
Equity Equity, also known as capital or net worth, is the amount owners have invested in a business. In the equity section of your chart of accounts, you must do three things: show the initial investment
Name SAMPLE Financial Statements December 31, 20XX CPA Accounting Firm Name Table of Contents Page Accountant s Review Report 1 Financial Statements Balance Sheet 2 Income Statement 3 Schedule of General
CHABOT COLLEGE General Accounting (BUS-7) Dmitriy Kalyagin PART A: TRUE/FALSE (1 point each): EXAM #4 (Chapters 10, 12, 13) 1. Employees who are exempt from the FLSA are entitled for overtime pay for hours
S Corporation Tax Organizer CLIENT INFORMATION S Corporation Name: Email: Date of Incorporation: EIN#: Best Phone#: Corporate Address: Tax Period City: State: ZIP Code: What date was the corporation first
General Motors Dealer s Standard Accounting System Manual 2013 General Motors Corporation This manual cannot be reproduced in whole or in part without the expressed written permission of General Motors
Partnership/LLC/Sole Proprietorship Organizer Please circle whether your business entity is a Partnership, LLC, or Sole Proprietorship Partnership/LLC/: Sole Proprietorship EIN # Name Date Formed Address:
PERSONAL FINANCIAL STATEMENT As of, 20 BUSINESS PLAN GUIDELINES Name: Residence Phone: Residence Address: City, State, Zip Code: Social Security Number: PERSONAL ASSETS PERSONAL LIABILITIES Cash in Bank
Course Handouts Course Handouts Using the course handouts In this section, you ll find copies of handouts for referenced course. The handouts are available for download in Portable Document Format (PDF)
The Elysian Fields Guide to Your CHART OF ACCOUNTS* *How to find your money and organize your books. Chart of Accounts Guide Elysian Fields 2015 1 INTRODUCTION Think of the Chart of Accounts as the Dewey
General Ledger Year-End Procedures 2014 Introduction As we approach the end of the year, it is necessary to prepare for the annual audit as well as finish up the year s work from an accounting perspective.
Financial Accounting (Exam) Your AccountingCoach PRO membership includes lifetime access to all of our materials Take a quick tour by visiting wwwaccountingcoachcom/quicktour Table of Contents (click to
ACCRUAL BASIS JUDGE: UNITED STATES BANKRUPTCY COURT NORTHERN & EASTERN DISTRICTS OF TEXAS REGION 6 MONTHLY OPERATING REPORT MONTH ENDING: MONTH YEAR IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED
OPEN SANS FONT FOR 2013 TAXCALC HUB AND ACCOUNTS PRODUCTION CHART OF ACCOUNTS - LIMITED COMPANY Contents Sales 1 Other Operating Income 1 Income from Shares in Group Undertakings 1 Income from Participating
0000-1020 / page 1 0000 Sales 0001 Sales type A 0002 Sales type B 0003 Sales type C 0004 Sales type D 0005 Sales type E 0006 Sales type F 0007 Sales type G 0008 Sales type H 0009 Sales type I 0100 UK sales
Management Accounting 31 Financial Statements for Manufacturing Businesses Importance of Financial Statements Accounting plays a critical role in decision-making. Accounting provides the financial framework
Summary of Financial Report for the FY ending March 2015 (Non-Consolidated) April 30, 2015 Listed Company Name: Japan Tissue Engineering Co., Ltd. Listed Securities Exchange: JQ Stock Code: 7774 URL http://www.jpte.co.jp
Self Employed & Single Member LLC Tax Organizer CLIENT INFORMATION Business Name (DBA): Email: Date of Formation: EIN#: Best Phone#: Business Address: Tax Period City: State: ZIP Code: What date was the
Chart of s 1050. Primary Checking Bank 1200. *s Receivable s Receivable 1010. Petty Cash Other Current Asset 1020. Cash Drawer Other Current Asset 1300. s Receivable Other Current Asset 1350. Undeposited
Understanding Basic Financial Statements During the accounting cycle, the accounting system is used to track, organize and record the financial transactions of an organization. At the close of each period,
ASSETS Enter credit balances preceded by a minus (-) sign in this column. 11110000 Petty Cash 11120000 Premium Trust Account 11130000 Operating Account 1 11140000 Operating Account 2 11150000 Interbank
Cash Flow Forecasting & Break-Even Analysis 1. Cash Flow Cash Flow Projections What is cash flow? Cash flow is an estimate of the timing of when the cash associated with sales will be received and when
NCEA Level 2 Accounting (91176) 2013 Page 1 of 7 Assessment Schedule 2013 Accounting: Prepare financial information for an entity that operates accounting subsystems (91176) Evidence Part A Question One
NAU ACCOUNTING SKILLS ASSESSMENT PRACTICE EXAM & KEY 1. A company received cash and issued common stock. What was the effect on the accounting equation? Assets Liabilities Stockholders Equity A. + NE +
Rural Entrepreneur Assistance (REA) Eligibility Criteria A. APPLICANT 1. Must be aged 18 or over, eligible to work in Canada, and a Manitoba resident. 2. Must develop and submit a sound business plan which
General Ledger Account Explanations 1040 Exchange - This account is used as a holding For example: when having to make a manual debit & credit to two accounts to offset each other, this account is used.
CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED JUNE 30, 2015 AND 2014 TABLE OF CONTENTS YEARS ENDED JUNE 30, 2015 AND 2014 INDEPENDENT AUDITORS REPORT 1 FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL
UNIFORM CHART OF ACCOUNTS FOR SHRINE TEMPLES ASSETS Cash 1000-1199 1000 Cash in Bank-Operating 1010 Cash in Bank-Payroll 1020 Cash in Bank 1030 Cash in Bank 1040 Cash in Bank 1050 Cash on Hand 1060 Petty
Debits and Credits Construction Accounting and Financial Management Chapter 3 Accounting Transactions Invoice (Materials) Charged to a Job without Retention 310 Accounts Payable-Trade (Credit) 610 Materials
CHAPTER 3 ACCOUNTING AND BOOKKEEPING Most operators of a new and growing business have a flair for the environment in which the business operates. They may be a great salesperson, an outstanding mechanic,
In following you will be introduced to the structure of construction financial statements,including the different ledgers used by construction accounting systems. You will also learn the difference between
CHART OF ACCOUNTS This chart of accounts is intended to give Career-Technical schools certified to operate in Virginia specific parameters for reporting financial information to SCHEV. It is recommended
Chart of Accounts - Sole Trader The basic road map into any accounting system is the chart of accounts. It is this chart that helps establish the information that will be captured by your accounting system,
FINANCIAL STATEMENT AND SUPPLENTARY INFORMANTION For the Year Ended December 31, 2011 The financial statement, prepared by an independent Certified Public Accountant, is essential for bonding purposes.
SAMPLE CONSTRUCTION FINANCIAL STATEMENT Construction Contacts: Tim Klimchock, CPA, CCIFP Manager, AEC Industry Group M. Scott Hursh, CPA, CCIFP Principal, AEC Industry Group 1.800.745.8233 Web Site: www.stambaugh-ness.com
Glossary of Accounting Terms Peter Baskerville Account for or 'bring to account': An accounting phrase used to describe the recording of a financial transaction that is required under the generally accepted
Guide to Financial Ratios Analysis A Step by Step Guide to Balance Sheet and Profit and Loss Statement Analysis By BizMove Management Training Institute Other free books by BizMove that may interest you:
ookkeeping Quiz I. Match the account titles with the appropriate financial statement classification: A Current Assets Sales Property, Plant and Equipment Cash in Checking C Other Assets Accumulated Depreciation
University of South Florida System and DSO/Component Unit Quarterly Financial Reports QUARTER 3 FOR FISCAL YEAR 2014-2015 Period Ended March 31, 2015 FY 2015 QUARTER 3 REPORT MARCH 31, 2015 INDEX University
Western Climate Initiative, Inc. Accounting Policies and Procedures Adopted May 8, 2013 WESTERN CLIMATE INITIATIVE, INC ACCOUNTING POLICIES AND PROCEDURES Adopted May 8, 2013 Table of Contents I. Introduction...
Process Accounts Payable and Receivable UNIT PURPOSE On successful completion of this unit the learner will be able to maintain financial records of a business using both manual accounting processes and
Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire
Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire
WWW.MCB-CPA.COM INDEX Page Independent Auditors Report 1 Financial Statements: Statement of Financial Position 2 Statement of Activities 3 Statement of Functional Expenses 4 Statement of Cash Flows 5 Notes
CHAPTER 3: PREPARING FINANCIAL STATEMENTS I. TIMING AND REPORTING A. The Accounting Period Time period assumption an organization s activities can be divided into specific time periods. Examples: a month,
FINANCIAL REPORTING GUIDELINES These policies support and extend COMTA Accreditation Standard XII. As such, institutions must demonstrate compliance to both. STATEMENT OF PURPOSE: All new institutional
UNDERSTANDING FINANCIAL STATEMENTS ITEM 8 It is important that the directors of any business, cooperative or otherwise, understand the financial statements of the business. Without a basic understanding
CHAPTER 11 OPERATING ORDER FORM 04/00 BUSINESS BA-01 Operating reports are to be filed monthly, in duplicate, with the Bankruptcy Clerk s Office by the 15 th of each month BUSINESS DEBTOR S AFFIRMATIONS
Paid to Taxpayer Paid to Spouse Client Tax Organizer Please complete this Organizer before your appointment. Prior year clients should use a personalized Organizer. To request a personalized Organizer,
Small Business Startup Guide By Carol Topp, CPA CarolToppCPA@zoomtown.com 10288 Amberwood Ct Cincinnati, OH 45241 (513)777-8342 This short guide is intended to help an individual start his or her own business.
Basic Accounting Principles Basic Accounting Model The basic accounting model represents the relationship between assets (what the company owns), liabilities (what the company owes), and owner s equity
The following glossary is from our book Simple Accounting Procedures. This book is available for purchase at www.mrhvac.com. It contains the most common HVAC related accounting and bookkeeping terms. Seek
Financial Statements Year Ended September 30, 2014 English translation from original Japanese-language documents Balance Sheets As of September 30, 2014 ASSETS Current Assets Cash and deposits US$ 18,509,007
Financial Projections Guide Simple Steps for Starting Your Business This guide was created to accompany the SCORE Financial Projections Template, which is part of the Simple Steps for Starting Your Business
Department of Health & Human Services Recommended Chart-of-Accounts Smart Start - Local Partnerships Account Classes Funds Control Accounts 1XXXXXXX Unrestricted 2XXXXXXX Temporarily Restricted 3XXXXXXX
GROUP 1. BASIC FINANCING 10. CAPITAL 100. Capital stock 103. Uncalled subscribed capital receivable 108. Treasury stock 11. RESERVES AND OTHER EQUITY INSTRUMENTS 110. Additional paid-in capital 111. Other
Proprietorships, Partnerships, and Small Corporations Getting Organized - The Basics What your Accountant (and Canada Revenue Agency) would like to see. Keeping track of your day to day business operations
Why Record Keeping Is Important Accurate, up-to-date records are vital to your Mary Kay business. They will help you keep your Mary Kay business organized and may even save you money on your income taxes.
MYOB US, Inc. April 2002 Accounting 101 Like all small business owners, you went into business with a dream: to sell your unique product or services and make a living for you, your family, and your employees.
Vol. 1, Chapter 3 - Accounting Adjustments Problem 1 1. ($20,000 2,000) 48 = $375 per month 2. Jan. 31 Depreciation Expense $375 Accumulated Depreciation Van $375 To record depreciation expense for January
CHAE Review Financial Statements, Capital Leases & Forms of Business This is a complete review of the two volume text book, Certified Hospitality Accountant Executive Study Guide, as published by The Educational
June 3 2016 North Carolina s Reference to the Internal Revenue Code Updated - Impact on 2015 North Carolina Corporate and Individual income Tax Returns Governor McCrory signed into law Session Law 2016-6
Bookkeeping Proficiency (Exam) Your AccountingCoach PRO membership includes lifetime access to all of our materials. Take a quick tour by visiting www.accountingcoach.com/quicktour. Table of Contents (click
FINANCIAL STATEMENTS YEARS ENDED TABLE OF CONTENTS YEARS ENDED INDEPENDENT AUDITORS REPORT 1 FINANCIAL STATEMENTS STATEMENTS OF FINANCIAL POSITION 2 STATEMENTS OF ACTIVITIES 3 STATEMENT OF FUNCTIONAL EXPENSE
Chapter 5 Business Expenses Key Concepts Trade or business expenses must be ordinary, necessary, and reasonable in amount to be deductible. Accrual-basis taxpayers deduct their expenses when the all-events
Consolidated Financial Report with Additional Information September 30, 2012 Contents Report Letter 1 Consolidated Financial Statements Balance Sheet 2 Statement of Activities and Changes in Net Assets