Managing your Finances Agenda
|
|
|
- Egbert Jenkins
- 8 years ago
- Views:
Transcription
1 WELCOME TO
2 Managing your Finances Agenda Topic 1: 1: Bookkeeping Basics Topic 2: 2: Accounting Packages Topic 3: 3: Package Demos
3 Bookkeeping Realities Extremely Important for: - Decision Making - Smooth Running of Organisation - Demonstrating Financial Accountability Not the World s most Glamorous Job Many Nonprofits don t have trained bookkeeper on staff
4 SOURCE DOCUMENTS Bills Cheques Membership Renewals Sales Invoices Payables or Receivables JOURNAL Date Source Doc. Reference Description Account(s) to debit Account(s) to credit Categorising Reporting
5 Cash vs Accrual Accounting Cash Accounting Record Record Income Income When When Cash Cash Received Received Record Record Expenses Expenses When When Cash Cash Paid Paid Accrual Accounting Record Record Income Income When When it it is is Earned Earned Record Record Expenses Expenses When When they they are are Incurred Incurred
6 Accrual Accounting Accrual Accounting Record Record Income Income When When it it is is Earned Earned Record Record Expenses Expenses When When they they are are Incurred Incurred Account Payable = Obligation to Pay Account Receivable = Expectation of Receiving Payment Accrual Accounting represents the true financial position
7 SORP (UK Charity Regulation)
8 SORP (UK Charity Regulation) Turnover < 100K Turnover > 100K Cash Accounting Accrual Accounting Level of External Scrutiny and Reporting Increases with Turnover
9 Double Entry Bookkeeping Single Entry eg. Your Cheque book Double Entry Every Transaction Recorded Twice Total Debits = Total Credits This Serves as Critical Safeguard
10 Accounting Structure What you Own (ASSETS) What you Owe (LIABILITIES) Money you Receive (INCOME) Money you Spend (EXPENSES)
11 Accounting Structure What you Own (ASSETS) ASSETS Cash Bank Account Investments Accounts Receivable Current Assets Grants/Donations Receivable Prepaid Expenses Highly Liquid Furniture & Fixtures Equipment Software Buildings Fixed Assets Highly Fixed
12 Accounting Structure LIABILITIES Accounts Payable Short Term Loans Accrued Salaries/Taxes etc Pre-paid Income CURRENT What you Owe (LIABILITIES) Long Term Loans Capital Leases Payable LONG TERM
13 Accounting Structure INCOME Grants Donations Support Money you Receive (INCOME) Membership Fees Interest/Investment revenue Sales of goods/services Special Events Revenue Earned Income
14 Accounting Structure EXPENSES Salaries Payroll Taxes Employee Benefits PERSONNEL COSTS Office Supplies Telephone Insurance Training Rent Postage Depreciation GENERAL EXPENSES What you Spend (EXPENSES)
15 Chart of Accounts Balance Sheet ASSETS 1010 Petty Cash 1020 Bank Current Account 1030 Investments 1040 Accounts Receivable 1050 Grants/Donations Receivable 1060 Prepaid Expenses LIABILITIES 2010 Accounts Payable 2020 Short Term Loans 2030 Accrued Salaries/ Taxes etc 2040 Pre-paid Income 2050 Long Term Loans 2060 Capital Leases 1500 Furniture & Fixtures 1510 Equipment 1520 Software 1530 Buildings
16 Chart of Accounts P&L INCOME 4010 Grants 4020 Donations 5010 Membership 5020 Interest/Invests 5030 Sale of Goods 5040 Special Events EXPENSES 1010 Petty Cash 1020 Bank Current Account 1030 Investments 1040 Accounts Receivable 1050 Grants/Donations Receivable 1060 Prepaid Expenses 1500 Furniture & Fixtures 1510 Equipment 1520 Software 1530 Buildings
17 Nominal Ledger - Chart of Accounts Profit and Loss Accounts (Income & Expenditure) Balance Sheet Accounts (Asset & Liability) Control Accounts (Used to manage more complex, multitransaction processes)
18 Reserve Assets Liabilities = Reserve Also known as Retained Earnings or Net Assets or Net Worth May consist of Multiple GL Accounts (eg Unrestricted Funds, Restricted Funds) In a For-Profit this is Owners Equity
19 Example of Nominal Posting DR Light and Heat CR 8/4/08 ESB JAN-MAR 500 DR Creditors CR 11/4/08 BANK 500 8/4/08 LIGHT & HEAT 500 DR Bank A/C CR 11/4/08 LIGHT & HEAT 500
20
21
22 Sub-Ledgers Purchasing Sub-Ledger Allows Supplier Details Product/Purchase Price Details Payment/Invoice Matching AP Analysis (eg Aged Creditors) Internal Controls (eg Purchase Order Approval) Postings are made via sub-ledger not directly
23
24 Financial Reports Some Key Reports: Income Statement (P&L) Balance Sheet Trial Balance
25 Some Key Measures: Financial Health Are assets greater than liabilities? Enough Cash to pay Current Liabilities? Ratio of Fixed Assets to Current Assets Have you Received Funds meant for Future Activities?
26 Some Key Success Factors Careful Design of Chart of Accounts Consider Sub-Ledger Requirements Asset Policy Need for Cost Centre Accounting? End of Year Requirements Decide Internal Control Requirements (Security, Segregation of Duties etc) Consider VAT Management Reporting Requirements (Including Funders)
27 WELCOME TO
28 Managing your Finances Agenda Topic 1: 1: Bookkeeping Basics Topic 2: 2: Accounting Packages Topic 3: 3: Package Demos
29 Why use an Accounting Package Every nonprofit can benefit from one Audit trail, security, integrity, transparency In-built safeguards Flexible Reporting summary, transaction and account reports & drilldown Bank Reconciliation Memorised transactions Budget controls Multi year analysis TIME SAVINGS
30 New Regulation - Guidelines No finance guidelines in Bill Voluntary standard to be created in Ireland UK Charity SORP will be the template Includes narrative Need accounting systems that are flexible to deal with requirements beyond minimum CRO Should include VAT accounting (for campaign) More detailed nominal codes better Need multiple levels of analysis (2+)
31 Some Questions Is the management of our income or your expenditure the major problem? Is our income, high volume low value or low volume high value? Do we have other software which needs to integrate with the accounts package? Are we currently providing the information that our colleagues want/need, and if not where do we need to improve? can we provide ad-hoc reports easily or do they take a lot of time and resources to create? are the systems well understood and can they continue to be operated if we are absent?
32 - Accounting Packages - Nonprofit + Business Nonprofit Specific Lower End Mid-Sized National or International Nonprofits Business Accounting SOHO Small Office or Home Office Personal Accounting Small Business Larger Businesses Enterprise Software
33 Accounting Packages BAND 1 FEATURES BAND 3 ADVANCED BAND Year 2 2 Basic Chart of Accounts Basic Purchasing Sub-Ledger Basic Reports Limited Configurability Bank Reconciliation Year 1 BAND 1 ENTRY LEVEL Priced under 500
34 Accounting Packages BAND 3 ADVANCED BAND Year 2 2 BAND 1 PACKAGES GNU Cash Quicken Quick Books Pro TAS Books Big Red Book Year 1 BAND 1 ENTRY LEVEL
35 Accounting Packages BAND 3 ADVANCED Year 2 BAND 2 Year 1 BAND 1 ENTRY LEVEL BAND 2 FEATURES (BAND 1 PLUS): Asset Management Cost Centre Accounting Purchase Orders Advanced Reports Budgeting E-Banking Recurring Transactions Integration with other Packages Priced under 2000
36 Accounting Packages BAND 2 PACKAGES BAND 3 ADVANCED Year 2 BAND 2 Year 1 BAND 1 ENTRY LEVEL Sage Line 50 Peachtree by Sage SQL Ledger (Online) MYOB (Mac) Access Accounts (Foundations)
37 Accounting Packages BAND 3 ADVANCED Year 2 BAND 2 Year 1 BAND 1 ENTRY LEVEL BAND 3 FEATURES (BAND 2 PLUS): Multi-Company Highly Configurable Advanced Reports Forecasting Report Creation Tools Funds Accounting Rich Integration Features Priced Very high end can be 10K+
38 Accounting Packages BAND 3 PACKAGES BAND 3 ADVANCED Year 2 BAND 2 Year 1 BAND 1 ENTRY LEVEL Sage Line 100 Access Accounts (Horizons) Pegasus Capital Gold Sun Accounts MS Dynamics GP Navision Sage MIP Fund Accounting Sage Line 200
39 Selection & Implementation Careful Package Selection Project Planning Working with External Consultants Timing (eg end of year) Data Migration Security / Access Reporting Hosted vs In-house Training / Support
40 WELCOME TO
41 Fund/Grant Accounting Having difficulty adapting off-the-shelf commercial accounting Software to your nonprofit needs? Spending time & effort formatting spreadsheets to report on grants or programmes? Have to report on grants/contracts with different fiscal years? Getting difficult or impossible to track funds according to donor restrictions? Struggling to prepare for Year End or Audits? Unable to automatically allocate indirect costs across grants/programmes
42 Fund/Grant Accounting Cost Centre Accounting can be used to Represent Programmes Transactions can be posted using codes to signify funding sources and programmes EG: Grant (eg. HSE 2008) Program (eg Addiction Counselling) Staff Salaries (Nominal Code)
43
44
45
46
47
48
49
50 Benefits of Grants Administration
51 WELCOME TO
EasyPC Training. Accounting Basics
EasyPC Training Accounting Basics Contents Accounting Basics... 3 The Accounting Equation... 3 Assets... 3 Liabilities... 3 Owner s Equity... 3 The Balance Sheet... 5 Double Entry Bookkeeping... 6 Ledger
ACS-1803 Introduction to Information Systems. Functional Area Systems. Lecture 4
ACS-1803 Introduction to Information Systems Instructor: David Tenjo Functional Area Systems Lecture 4 1 Overview Overview of Functional Areas in the organization Functional Area: Accounting Accounting
Glossary of Accounting Terms Peter Baskerville
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
Financial Accounting. (Exam)
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
Chapter 8. Describe an effective accounting information system. Learning Objectives. Objective 1. Accounting Information Systems
PowerPoint to accompany Chapter 8 Accounting Information Systems Learning Objectives 1. Describe an effective accounting information system 2. Understand both computerised and manual accounting systems
Introduction to Accounts
Introduction to Accounts Copyright statement Sage (UK) Limited, 2012. All rights reserved We have written this guide to help you to use the software it relates to. We hope it will be read by and helpful
ACCT1115. Review Package - Midterm SOLUTION Fall 2013
ACCT1115 Review Package - Midterm SOLUTION Fall 2013 Part I Multiple Choice 1) How should you record the purchase of an expensive automobile? a) Decrease cash, increase assets b) Decrease cash, increase
Glossary of Accounting Terms
Glossary of Accounting Terms Accruals or Income & Expenditure Accounts This is where accounts are prepared in a way that shows not only what happened in a period, but what should have happened in the period.
Bookkeeping Proficiency
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
Process Accounts Payable and Receivable
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
Month End Protocols Preparation for Monthly Financial Statements
Month End Protocols Preparation for Monthly Financial Statements General Notes for Month / Year End Protocols For Small or Midsized Nonprofit Organizations MONTHLY A good rule of thumb is to print a trial
Basic Accounting Principles
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
Financial Information Kit
Financial Information Kit The purpose of this kit is to provide basic information on keeping financial records to facilitate compliance by registered charities with the requirements of the Canada Revenue
Accounting Cycle. Matching Principle
CHAPTER 3 Accounting Cycle Analyze and record the transactions Post the transactions and prepare trial balance Adjust the accounts and prepare trial balance Prepare the financial statements Close the accounts
Glossary of Accounting Terms
Glossary of Accounting Terms Account - Something to which transactions are assigned. Accounts in MYOB are in one of eight categories: Asset Liability Equity Income Cost of sales Expense Other income Other
Completing the Accounting Cycle
C H A P T E R 4 Completing the Accounting Cycle Financial Accounting 14e Warren Reeve Duchac human/istock/360/getty Images Flow of Accounting Information (slide 1 of 5) End-of-Period Spreadsheet (Work
Definition of Accounting
SOLUTIONS TO EXERCISES Lesson 1: Definition of Accounting 1. What is accounting? What are its main functions? Accounting is the process of financially measuring, recording, summarizing and communicating
Receipts and Payments Accounts Introductory Notes
Receipts and Payments Accounts Introductory Notes Purpose of pro forma receipts and payments accounts These guidance notes reflect the requirements for accounting periods ending on or after 1 April 2009
Accounting 101 you don t have to be an accountant to run MYOB Your Daily Lives Cash vs. Accrual Accounting
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.
BOOKKEEPING WITH COMPUTERS
BOOKKEEPING WITH COMPUTERS INTRODUCTION Whether manual or computerised, bookkeeping is essentially the same. Both methods use the same concept of DOUBLE ENTRY, i.e. Debits () and edits (). Double entry
Charities Review Council Financial Session. Barbara Clare MAP for Nonprofits Chief Financial Officer bclare@mapfornonprofits.org
Charities Review Council Financial Session Barbara Clare MAP for Nonprofits Chief Financial Officer bclare@mapfornonprofits.org Session Objectives Review and understanding of basic financial statement
SAMPLE QUESTION PAPER IN ACCOUNTANCY. Time: Three Hours Maximum Marks: 100
SAMPLE QUESTION PAPER IN ACCOUNTANCY Time: Three Hours Maximum Marks: 100 Note: The question paper is divided into two sections A and B. Attempt all questions of Section A and any one question of Section
HOW TO READ FINANCIAL STATEMENTS
HOW TO READ FINANCIAL STATEMENTS By Michael Collins ACMA, TMITI 1 INTRODUCTION Financial statements such as a profit and loss account and a balance sheet can cause considerable confusion to business people
Unit 26768 (V1) Use a computerised accounts receivable and payable system to produce financial information. with. MYOB AccountRight Standard 2011.
Easy Steps Unit 26768 (V1) Use a computerised accounts receivable and payable system to produce financial information with MYOB AccountRight Standard 2011.1 Easy to follow Step-by-step instructions Covers
Section 2: The Bookkeeping Process (Module 3)
Section 2: The Bookkeeping Process Dermott Crofton dcrofton@sd62.bc.ca 1 This Section of the Course Bookkeeping Process Double Entry Bookkeeping Rules of Debits and Credits The T-Account Representing transactions
Understanding Financial Statements. For Your Business
Understanding Financial Statements For Your Business Disclaimer The information provided is for informational purposes only, does not constitute legal advice or create an attorney-client relationship,
10-1. Auditing Business Process. Objectives Understand the Auditing of the Enteties Business. Process
10-1 Auditing Business Process Auditing Business Process Objectives Understand the Auditing of the Enteties Business Process Identify the types of transactions in different Business Process Asses Control
Trading Profit and Loss Account
Trading Profit and Loss Account Trading Account The trading account shows the income from sales and the direct costs of making those sales. It includes the balance of stocks at the start and end of the
SAMPLE NPO Fiscal Policies & Procedures
SAMPLE NPO NOTE: The most important part of developing policies and procedures is that they are discussed and agreed upon within the organization. This template is designed to be used in conjunction with
Understand Your Finances with the Right Software
Understand Your Finances with the Right Software As a not for profit organization grows, its accounting processes often progress along a traditional path. Handwritten records in a file folder evolve into
THE NATIONAL BIODIVERSITY NETWORK TRUST RULES AND STANDING ORDERS
THE NATIONAL BIODIVERSITY NETWORK TRUST RULES AND STANDING ORDERS ANNEXE 2 FINANCIAL MEMORANDUM (A WORKING PAPER) TABLE OF CONTENTS Sarah Hyslop Last updated 14 th December 2011 Page 1 of 10 1. INTRODUCTION
Mustafa Khuwaja - CAT Finalist
1 Run through the Flashcards as often as you can during your final revision period. The day before the exam, try to go through the Flashcards again. You will be well on your way to passing your exams.
How To Calculate A Trial Balance For A Company
THE BASIC MODEL The accounting information system is designed to collect and organize data into information that is useful for stakeholders. The Accounting Equation The basic accounting equation is what
Accounting Norms and Principles January 7, 2003
1 Accounting Norms and Principles January 7, 2003 The purpose of an accounting system is to provide credit union management with complete and accurate financial information that can be used to operate
Account Numbering. By separating each account by several numbers, many new accounts can be added between any two while maintaining the logical order.
Chart of Accounts The chart of accounts is a listing of all the accounts in the general ledger, each account accompanied by a reference number. To set up a chart of accounts, one first needs to define
Limited Company Guide
Limited Company Guide A complete accountancy service for the small business across the United Kingdom What is a limited company? A limited company is a type of business whereby the owner s liability is
Time Period Assumption
ILLUSTRATION 3-1 GUIDELINES TO REPORT REVENUE AND EXPENSES Time Period Assumption Economic life of business can be divided into artificial time periods Revenue Recognition Principle Revenue recognized
Sheffield Parent Carer Forum - Financial Standing Orders
Contents 1. Responsibilities of the Trustees 2. Maintenance of these standing orders and financial procedures 3. Maintenance of records and financial control 4. Security of financial information 5. Annual
Understanding Accounting Reports. www.brightpearl.com
Understanding Accounting Reports Whats inside You ll often hear the term management accounts - but how often do you use this information to actually manage your business on a day to day basis? It may well
ACCOUNTING 1 (ACN101- M)
1 ACCOUNTING 1 (ACN101- M) STUDY UNIT 1: THE NATURE AND FUNCTION OF ACCOUNTING DEFINITION: Accounting can be defined as the orderly & systematic recording of the monetary values of financial transactions
Accounting Principles Critical to Success Presented By: C. P. Krishnan. www.cakintl.com
Accounting Principles Critical to Success Presented By: C. P. Krishnan Basic Accounting You Need to Know Assets, Liabilities, Equity, Income, & Expenses Assets Includes what you have and what people owe
The Journal Correcting errors, posting wages & dealing with bad debts
The Journal Correcting errors, posting wages & dealing with bad debts Sales Returns for the month of September of 1,500 have been entered into the accounts as Sales Return Account Date Details p Date Details
Sole Trader Guide. A complete accountancy service for the small business across the United Kingdom
Sole Trader Guide A complete accountancy service for the small business across the United Kingdom What is a sole trader A sole trader business (being self-employed) is the most simple business type and
Week 6 Accounting Information Systems 1/6
Week 5 Horngren, Chapter 8, Accounting Information Systems When we have collected the data from transactions and then analysed and summarised the economic effect of those transactions the process has involved
Line502007 Powerful accounting software for growing businesses
SAG01768 SAGE BROCHURE ARTWORK 26/7/06 1:36 pm Page 1 For more information on Sage Line 50 2007 or any other Sage product or service please call SAGE CUSTOMERS 0800 33 66 33 Line502007 Powerful accounting
Learn Accounting Understand Business: Course Review Answers
Learn Accounting Understand Business: Course Review Answers 1. What type of accounting measures the activity of the company by looking at economic events regardless of when cash transactions occur? A.
Accrual vs Deferral Accrual vs Cash Basis
1 - Accrual vs Deferral Accrual vs Cash Basis - understanding debits and credits a transaction either increases or decreases the balance of accounts. increases and decreases in accounts are based on the
Chapter 6 Statement of Cash Flows
Chapter 6 Statement of Cash Flows The Statement of Cash Flows describes the cash inflows and outflows for the firm based upon three categories of activities. Operating Activities: Generally include transactions
Business Start Up Basics III
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
CLOUD ACCOUNTING ADVICE FOR YOUR CLIENTS?
CLOUD ACCOUNTING ADVICE FOR YOUR CLIENTS? Some key questions to ask before you do As an established professional accountant and trusted adviser you may well be asked by your clients to help them decide
Accounting Basics, Part 1
Accounting Basics, Part 1 Accrual, Double-Entry Accounting, Debits & Credits, Chart of Accounts, Journals and, Ledger Part 1 What s Here Introduction Business Types Business Organization Professional Advice
STATEMENT OF CASH FLOWS AND WORKING CAPITAL ANALYSIS
C H A P T E R 1 0 STATEMENT OF CASH FLOWS AND WORKING CAPITAL ANALYSIS I N T R O D U C T I O N Historically, profit-oriented businesses have used the accrual basis of accounting in which the income statement,
Bridges of America - The Jacksonville Bridge, Inc. Orlando, Florida
Bridges of America - The Jacksonville Bridge, Inc. Orlando, Florida Financial Statements and Supplemental Information Year Ended June 30, 2010 Contents Page Independent Auditor s Report 1 Financial Statements
Involve- Bookkeeper/Accountant
Involve- Bookkeeper/Accountant This article will describe: What accountancy is Why accountancy is so important to community and voluntary organisations The accounting cycle: o Recording business transactions
CHAPTER 2 ACCOUNTING FOR TRANSACTIONS
CHAPTER 2 ACCOUNTING FOR TRANSACTIONS Key Terms and Concepts to Know Double entry accounting: Debits and Credits Total debits must always equal total credits Accounting Books: Accounts General Journal
GCE. Accounting. Mark Scheme for January 2012. Advanced GCE Unit F013: Company Accounts and Interpretation. Oxford Cambridge and RSA Examinations
GCE Accounting Advanced GCE Unit F013: Company Accounts and Interpretation Mark Scheme for January 2012 Oxford Cambridge and RSA Examinations OCR (Oxford Cambridge and RSA) is a leading UK awarding body,
ACS 1803 Accounting SUPPLEMENTARY NOTES prepared by E. Kaluzniacky & K. Augustine. Computerized Accounting - The General Ledger System
ACS 1803 Accounting SUPPLEMENTARY NOTES prepared by E. Kaluzniacky & K. Augustine Computerized Accounting - The General Ledger System Every business must keep track of financial information that relates
Mission Statement. Overview. Cash-based accounting, financial management and impact reporting software tailored for non-profits and social enterprises
Mission Statement To improve the accounting, financial management and impact reporting capacities of small non-profits and social enterprises by providing software, training, and support. Overview Cash-based
Financial Plan. A) Estimated One-Time Financial Requirements. Part One
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
Nonprofit Bookkeeping and Accounting Overview
Nonprofit Bookkeeping and Accounting Overview The following activities should occur regularly as part of the yearly accounting cycle. The accounting cycle includes bookkeeping, generating financial statements
ACCOUNTING POLICIES AND PROCEDURES SAMPLE MANUAL
(Name of Organization & logo) ACCOUNTING POLICIES AND PROCEDURES SAMPLE MANUAL (Date) Note: this sample manual is designed for nonprofit organizations with the following staff involved with accounting
Accruals and prepayments
5 Accruals and prepayments this chapter covers... In the last chapter we have looked at the preparation of financial statements or final accounts using the extended trial balance, or spreadsheet, approach.
How To Balance Sheet
Page 1 of 6 Balance Sheet Accounts The Chart of Accounts is normally arranged or grouped by the Major Types of Accounts. The Balance Sheet Accounts (Assets, Liabilities, & Equity) are presented first,
Accounting, CPT Chapter 6 CA PRATHAP SS
Accounting, CPT Chapter 6 CA PRATHAP SS INTRODUCTION Preparation of Final Accounts is the last phase of the Accounting Process. INTRODUCTION The process of accounting starts from Transaction then entered
Month-end Close in a Non-profit Organization
Month-end Close in a Non-profit Organization Cindy Cline Cline Consulting and Training Solutions, LLC Agenda Introductions How the Applications Work Together Month-end Close Processes Planning Your Month-end
Accounting Policies & Procedures Manual
Accounting Policies & Procedures Manual Updated and Approved: 1 CAWST Accounting Policies & Procedures Index 1. Accounting Policies APL100 Financial statement concepts and accountability APL210 Cash and
BOOKKEEPING FUNDAMENTALS TRAINING
Phone:1300 121 400 Email: enquiries@pdtraining.com.au BOOKKEEPING FUNDAMENTALS TRAINING Generate a group quote today or register now for the next public course date COURSE LENGTH: 1.0 DAYS Developing essential
Minnesota Council of Nonprofits, Inc. Consolidated Financial Statements Years Ended December 31, 2013 and 2012 (With Independent Auditor's Report
Consolidated Financial Statements Years Ended December 31, 2013 and 2012 (With Independent Auditor's Report Thereon) MINNESOTA COUNCIL OF NONPROFITS INDEPENDENT AUDITOR S REPORT... 3 FINANCIAL STATEMENTS
TRANSACTIONS ANALYSIS EXAMPLE. Maxwell Partners Medical Diagnostic Services report the following information for 2011, their first year of operations:
TRANSACTIONS ANALYSIS EXAMPLE Maxwell Partners Medical Diagnostic Services report the following information for 2011, their first year of operations: 1. Billings to clients for services provided: $350,000
Accounting (4305) IGCSE London Examinations IGCSE Accounting (4305) For examination in May and November 2006, 2007, 2008 November 2004, Issue 1
IGCSE London Examinations IGCSE Accounting (4305) For examination in May and November 2006, 2007, 2008 November 2004, Issue 1 delivered locally, recognised globally Specification London Examinations IGCSE
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING FORMATION 2 EXAMINATION - AUGUST 2012 NOTES: You are required to answer Question 1. You are also required to answer any three out of Questions 2 to 5. (If you provide answers to all
Accounting II Second Semester Final
Name: Class: Date: Accounting II Second Semester Final Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. 1. Profit is the difference between:
Glossary of Business Terms (List is separated by Accounting & Finance Terms. Note, terms may be repeated)
Glossary of Business Terms (List is separated by Accounting & Finance Terms. Note, terms may be repeated) Accounting Terms Account a record of financial transactions; usually refers to a specific category
Basic Accounting. Supplement for Using Simply Accounting Version 8.0 for Windows by. M. Purbhoo and D. Purbhoo
Basic Accounting Supplement for Using Simply Accounting Version 8.0 for Windows by M. Purbhoo and D. Purbhoo Basic Accounting Contents: Accounting Theory 3 Basic Accounting 3 Balance Sheet 3 Income Statement
COMPLETION OF THE ACCOUNTING CYCLE - Closing Entries -
COMPLETION OF THE ACCOUNTING CYCLE - Closing Entries - Worksheet Overview Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Debit Credit Debit Credit Debit
Preparing a Successful Financial Plan
Topic 9 Preparing a Successful Financial Plan LEARNING OUTCOMES By the end of this topic, you should be able to: 1. Describe the overview of accounting methods; 2. Prepare the three major financial statements
Getting Started with Sage One Start
Getting Started with Sage One Start Contents Introduction Introduction...3 Sage One Start in more detail...4 Getting started setting up the business...5 Configuring the Chart of Accounts...5 Importing
Guelph Chamber of Commerce Financial Statements For the Year Ended June 30, 2015
Financial Statements For the Year Ended June 30, 2015 Financial Statements For the Year Ended June 30, 2015 Contents Independent Auditor's Report 1 Financial Statements Statement of Financial Position
CARRIAGE MUSEUM OF AMERICA ACCOUNTING POLICIES AND PROCEDURES MANUAL. February 2014
CARRIAGE MUSEUM OF AMERICA ACCOUNTING POLICIES AND PROCEDURES MANUAL February 2014 I. Introduction The purpose of this manual is to describe all accounting policies and procedures currently in use at The
Opening Balances Process for a business that is VAT registered using the standard scheme or is NOT VAT registered
Opening Balances Process for a business that is VAT registered using the standard scheme or is NOT VAT registered Correct opening balances are the key to bookkeeping activities. If you do not enter them
Financial. Management FOR A SMALL BUSINESS
Financial Management FOR A SMALL BUSINESS 1 Agenda Welcome, Pre-Test, Agenda, and Learning Objectives Benefits of Financial Management Budgeting Bookkeeping Financial Statements Business Financing Key
ES ACCOUNTING QUICK START GUIDE
QUICK START GUIDE Version 5.0.7 Malaysia GST Ready Page 1 CONTENTS Chapter 1 PAGE Overview 1.1 Introduction 1.2 File Module 1.3 General Ledger Module 1.4 Customer Module 1.5 Supplier Module 1.6 Malaysia
Coimisiún na Scrúduithe Stáit State Examinations Commission. Leaving Certificate 2014. Marking Scheme. Accounting. Higher Level
Coimisiún na Scrúduithe Stáit State Examinations Commission Leaving Certificate 2014 Marking Scheme Accounting Higher Level Note to teachers and students on the use of published marking schemes Marking
Financial Statements
Financial Statements The financial information forms the basis of financial planning, analysis & decision making for an organization or an individual. Financial information is needed to predict, compare
The Basics of Accounting ACCT 201
The Basics of Accounting ACCT 201 Content Accounting definition Accounting equation Accounting elements Asset, Liabilities, & Equity Transactions Accounts Receivable vs Accounts Payable Retained Earnings
Michelle Clawson, CPP October 8, 2015
Michelle Clawson, CPP October 8, 2015 Michelle Clawson, CPP Payroll Manager Driscoll s Strawberry Associates, Inc. Accounting is the basic language of business. It s the art of measuring, communicating,
By John W. Day, MBA. FEATURE ARTICLE: The Structure And Purpose Of Liabilities
THEME: LIABILITIES By John W. Day, MBA ACCOUNTING TERM: Liability Generally, a liability can be defined as an obligation, based on a past transaction, to convey assets or perform services in the future.
CHAPTER 4 COMPLETING THE ACCOUNTING CYCLE SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM S TAXONOMY. True-False Statements
CHAPTER 4 COMPLETING THE ACCOUNTING CYCLE SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM S TAXONOMY Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT True-False Statements 1. 1 K 9. 2 K 17. 4
Objective Evidence. Unit of Measurement. Accounting Period Cycle. Business Entity. Going Concern. Adequate Disclosure. Matching Expenses with Revenue
Accounting Concept: A source document is prepared for each transaction Objective Evidence Accounting Concept: Business transactions are stated in numbers that have common values; that is, using a common
UNIVERSITY EXAMINATIONS COURSE TITLE: FINANCIAL ACCOUNTING DATE: 19/08/2010
KABARAK UNIVERSITY UNIVERSITY EXAMINATIONS /2010 ACADEMIC YEAR FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION COURSE CODE: ACCT 510 COURSE TITLE: FINANCIAL ACCOUNTING STREAM: DAY: TIME: MBA THURSDAY
BUSINESS ACCOUNTS. sample documents. sourced from www.osbornebooks.co.uk
BUSINESS ACCOUNTS sample documents sourced from www.osbornebooks.co.uk Sample documents document page invoice 3 statement 4 double-entry accounts 5 cash book 6 petty cash book 7 extended trial balance
USING QUICKBOOKS TO RECORD RESTRICTED TRANSACTIONS
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
Accessible Community Counselling and Employment Services (A.C.C.E.S.) Report and Financial Statements. March 31, 2014
Accessible Community Counselling and Employment Services Report and Financial Statements March 31, 2014 Statement of Financial Position As at March 31 2014 2013 Assets Current Cash and cash equivalents
AMERICAN CHILDHOOD CANCER ORGANIZATION FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT AUGUST 31, 2014 AND 2013 WWW.MCB-CPA.
FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT WWW.MCB-CPA.COM FINANCIAL STATEMENTS TABLE OF CONTENTS Page Independent Auditors Report 1 Financial Statements: Statements of Financial Position 2
The Elysian Fields Guide to Your CHART ACCOUNTS* *How to find your money and organize your books. Chart of Accounts Guide Elysian Fields 2015 1
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
Mango s Health Check. How healthy is financial management in your not-for-profit organisation?
How healthy is financial management in your not-for-profit organisation? Version 3 2009 Mango 2nd Floor East, Chester House, George Street, Oxford OX1 2AU Phone +44 (0)1865 423818 Fax +44 (0)1865 423560
ACCOUNTING AND BOOKKEEPING PRINCIPLES AND PRACTICE
ACCOUNTING AND BOOKKEEPING PRINCIPLES AND PRACTICE Association of Accounting Technicians & David Willis www.mhhe.com/au/bookkeeping CHAPTER 1 INTRODUCTION LEARNING OUTCOME To gain background to accounting
Higher National Unit specification. General information for centres. Unit title: Using Financial Accounting Software. Unit code: F7JP 34
Higher National Unit specification General information for centres Unit title: Using Financial Accounting Software Unit code: F7JP 34 Unit purpose: This Unit is designed to enable candidates to use a commercial
PREPARING FINAL ACCOUNTS. part
15_1312MH_CH09 27/1/05 8:38 am Page 87 PREPARING part 3 FINAL ACCOUNTS 9 The final accounts of sole traders 10 Accounting principles, concepts and policies 11 Depreciation and fixed assets 12 Bad debts