Auditors are welcome to gimme the answer.. This is beyond my knowlege and cant be found in da textbook.. huhu :(
120122
try for help on this site..\n\nhttp://www.futureaccountant.com/
8327
Unfortunately, all the accounting catches in the world don't prevent someone from having a duplicate set of data, which is the most common way to "cook the books".  If you could interface between their books and the actual stock price, and you had some serious computing power, you might be able to tell that something fishy was going on, but you'd have to have access to the data.
578024
The first answer given by g4tax and the 2nd answer given by vmp both put together gives full answer to your questinon.
521992
This is not a GAAP question.  It is a question of internal control.\n\nAssuming you are using some kind of software to keep your invoice records, there is no need to print all your invoices.  The key is to make sure there are proper review processes in place to review, post, reconcile and track collections related to invoicing.  \n\nFor tips, you may want to review SAS (Statements on Auditing Standards) issued by the FASB.  Those statements contain guidance for auditors - who are always concerned about controls as they impact a company's financial statements.
521250
Hi Tasksgirl.....   I need all your attention please!\n\nI suppose you work everyday with an automated Accounting System, like Accpac, QuickBooks, Salomon, etc....\n\nEntries closing (concepts and definitions) :\n\n1) Closing entries are made to close revenues, cost of goods, operational costs and any other account involved to calculate the compay's NET INCOME.\n\n2) Net Income is the result that you read at the end of an INCOME STATEMENT report.\n\n3) You MUST enter Closing entries once in a year.\n\n4) I have seen two types of Closing Entries:\n    - Manually\n    - Automatically\n\n    Manually Closing Entries are done when automatically option does not exist.  It is a obsolete system.\n\n    Automatically is done when you close the fiscal year.  If this option exists, never enter Closing Entries manually.  It will ends on critical errors.\n\nSome Accounting Systems, like Accpac, looks for marked accounts as Revenues, Costs of Goods, Expenses, Other Incomes, etc...  and create transactions to close them.\n\nFor instance:\n\nA revenue account balance is            -15,200,000.oo\nA cost of good account balance is       7,100,000.oo \nAn expense account balance is            3,000,000.oo\n\nNet Income will be  -5,100,000.oo  (Revenue - CoGs - Expenses)   Negatives signs are shown only to show this example only, but usually accounting system do not show them unless it be needed.\n\nok, Accpac will create a batch entry as follow:\n\nRevenue account    15,200,000.oo\nCoGs account         - 7,100,000.oo \nExpense account    -  3,000,000.oo\nEarning Account    - 6,100,000.oo   (Equity account)\n\nEarning account is entered to balance this batch. Now, Net Income will part of Company's Equity account.\n\nNext time you run a Income Statement, Net income will be ZERO, because it was closed by Closing Entries.  This result is now in Equity Accounts.\n\nthat's it... hope that helps you .... good luck!
261672
I'm a CPA and have no idea what you're talking about.  Can you ask your question in a way that makes sense?
19648
It's kida hard to explain comprehensively in 1000 characters or less, so the next best thing I can do right now is put a link to a website that explains the  diferences in layman's term in the source below.\nHope that helps you out.
586387
Most international companies have studies done by outside consultants to substantiate the intergroup markups that they charge on international transactions within the company.  That is the only way to insure that their practices pass the mustard with governmental tax agencies around the world, and yet don't cripple the company's business efforts.
357648
This sounds like a lab question and we don't have the details. Possible differences are lab versus standard conditions, quality of equipment, and impure reagents.
118736
I have looked at so many websites trying to find this answer and I have not found anything. I will keep trying, but it seems to me that the answer is nowhere to be found. Sorry.
416727
This is because the accounts still fall within a 7 year history. The key on the report is the "date of last activity" which is the actual date that counts. Regardsless of account status, there is a monthly submission from each creditor as to the standing of the account in reference.\n\nI write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
136341
This site has a good explanation on the basic accounting process\n\n\nhttp://www.futureaccountant.com/accounting-process/
94894
Well,Iam not a CPA,but i think this website might help,check it out and see.\nhttp://allsolutionsnetwork.com/AA/AA31108\nnote,AA/AA31108 in capitals
417417
It all relates to the P/E or the Price to Earnings ratio. It measures how much revenue or profit one share earns and compares that to the price you would pay for that one share on that open market.\n\nWhat you or your banker are talking about can be dangerous because you could be paying a lot of money for a share that does not have a lot or any income behind it at all so you would be in danger of losing your investement. This happened a lot in the dot come bust where sahres worth $500 or more were issued and bought for companies that weren't even making $.01 per share.
55821
Dear Friend first the better you learn from the experianced accountant or tutor not online. \n\nbut i can define the basics\n--------------------------\nGenerally Accepted Accounting Principles (GAAP) \n\n--------------------------------------------------------------------------------\n\nWhat it is:\n"GAAP" is an acronym that stands for Generally Accepted Accounting Principles. GAAP is a framework of accounting standards, rules and procedures, defined by the professional accounting industry, which has been adopted by nearly all publicly traded U.S. companies.\n\n\n \nHow it Works/Example(s):\nGAAP principles, which are updated regularly to reflect the latest accounting methodologies, are the definitive source of accounting guidelines that companies rely on when preparing their financial statements. The standards are established and administered by the American Institute of Certified Public Accountants (AICPA) and the Financial Accounting Standards Board (FASB).\n\nGAAP rules and procedures are what govern corporate accountants when they present the details of a company's financial operations. These details can be found in such places as quarterly balance sheets or income statements, 10-Q filings, or annual reports. Examples of GAAP measures include net earnings, gross income, and net cash provided by operating activities.\n\nWhy it Matters:\nInvestors should always review a company's GAAP financial results, as the standardized methodology provides a reliable means of comparing financial results from industry to industry and from year to year. However, GAAP rules are sometimes subject to different interpretations, and unscrupulous companies often find a way to bend or manipulate them to their advantage. Furthermore, it is commonplace -- even for accurate results where GAAP principles were conservatively applied -- for financial results to be restated at some point in the future.\n\nOften, the most insightful way to compare a company's performance against prior periods is to use non-GAAP measures. Management, analysts, and investors routinely use these metrics to gauge a firm's progress. A few widely used examples of non-GAAP measures include free cash flow, pro-forma earnings, and adjusted income from continuing operations. Sometimes, certain non-GAAP figures are common within an industry, and these tools often prove useful when comparing competitors. Casino companies, for example, often use earnings before interest, taxes, depreciation, and amortization (EBITDA) as a core measure of performance. Meanwhile, lodging companies nearly always rely on revenues per available room (RevPAR). Analysts in the retail sector focus on same-store sales, known as comps -- a measure of revenues that strips out the impact of new store expansion.\n\nThe SEC requires that these alternate methods of evaluating a firm's results be disclosed as "non-GAAP" figures and reconciled with the closest comparable GAAP measure. Because they can vary widely from firm to firm (for example, some retailers define same-store sales as revenues from units that have been open for 12 months, while others use 18 months), non-GAAP calculations do not always provide an apples-to-apples comparison. For this reason, these alternative measures are not meant to replace GAAP, but should instead be used in conjunction with it.\n\n\n---------------------------\nCheck these helful links below.\n\nThis will be helpful for you to understanding the besics and comparision.\nhttp://www.iaseminars.com/ifrs-business-combinations.html \n\nThis will suggest you the principles\nhttp://about.reuters.com/ar1998/items/reuters_140.html
466241
The principle is that the accountant holds a LIEN over your documents. They have every right to hold the documents until they are paid.
531976
Way too complicated for an answer here, me thinks.  Spend the cash for a good CPA or Comptroller.