FInancial Accounting - Journalizing transactions?
115971
If it is not due yet, it should go under "Accounts Payable", even though it IS an expense. Otherwise you put it aside until you finally pay the bill, THEN you can journalize it as an expense, debit expense, credit bank, in whatever month you pay the bill.
282078
Your accountant has to fill out a schedule D for your trading transactions.  It must list every transaction individually.  That is why it is necessary.  Because of this, some brokerage firms now have downloadable 1099's that interface with tax software.  Eventually they all will.\n\nGood luck.
256792
Transactional accounting is about recording the financial events of the business according to acceptable practices.  The accuracy of those records is important, even critical.  However, they aren't the managerial tool the organization needs or wants.  The purely financial representation and analysis of business results doesn't tell the full story.  While marketing is an "expense" under financial accounting treatment, managerially it is an investment.  There are other such examples of scorekeeping versus results measurement.\n\n\nBusinesses need both scorekeeping and results.  Businesses get results from gaining a managerial understanding and perspective on the numeric representation of the business.  Businesses also must recognize information beyond the numbers.  There are events, factors, and decisions that aren't captured real-time by the financial results.  The organization which has the capability to address the non-financial aspects of the business in the context of their ultimate impact on financial performance is the one that will be able to generate significant financial results.\n \n\nEvery activity in the organization ultimately generates cash, uses cash, or both. The results are either direct or indirect from each activity.  For instance, manufacturing a product is a direct use of cash for raw materials, purchased parts, and labor. The ordering of the raw materials and purchased parts is not directly related to the conversion into a finished good - but is a necessary activity to the organization.  The purchasing and manufacturing processes both play a role in producing a product for sale.  Both use cash.  Both ultimately contribute to generating cash.  Either process executed poorly impacts the sales process and the bottom-line.\n\n \n\nThis becomes the question:  what is the measure of results for each group?  How is purchasing performance measured?  What metrics does manufacturing have to meet?  How are sales people evaluated?\n\n \n\nNumbers should be incentives to perform and a means of identifying results.  The results measured must be meaningful to the business and to the performer.  When members of the organization view accounting measures as an obstacle and not as a tool for achieving results, setting priorities, and measuring performance, then it is time to reevaluate how the numbers are being used and determine how to generate relevant metrics which drive the organization forward.  Relevant metrics are necessary; merely keeping score doesn't benefit the organization.
37604
You probably mean transactional analysis, developed by Eric Berne.  See http://www.itaa-net.org/ta/index.htm
459436
Maybe look into GASB34.  It's an accounting standard for government.  It is causing a lot of uproar because of what it means for asset management.  Hot topic right now.
788283
hi, well 'posting' is quite a broad term and I presume you mean 'posting a transaction' or 'posting an entry'. Not trying to sound like your teacher; but 'posting' will depend on each kind of transaction. There are 1) assets, 2) liabilities, 2) equities, 4) revenues and 5) expenses. The 1st three items are reflected in the Balance sheet while the last two in the income statement. Asset and expenses, when increased are DEBIT, when they decrease are CREDIT (DEBIT and CREDIT are two sides of your Journal, the right side is DEBIT and the left side is CREDIT). On the other hand, liabilities, equities and revenues, when increase are CREDIT and when decrease are DEBIT (so they are opposite). eg. If you purchase a car for $10,000, your asset that is your car increases by $10,000 and another asset your cash decreases by $10,000. So car is Debit and cash is Credit, both by $10,000. Similarly you could buy an asset on a loan, so your liability increase which is a Credit and so does your asset which is a Debit. Remember whenever there is a (or more than one) Debit, there is a (or more than one) Credit and both (or all) must be of the same amount so that if Debit is PLUS and Credit MINUS the sum should be ZERO.\n\nFORWARD - well, every month end or year end, you total all your debits and credits in a particular account eg. Cash eg. in August you received $1,000 and at the start of August (or end of July) you had $200 (which means Debit $1,200) and in August you spent $700 (which means Credit $700) then you have a Debit balance of $500. As I said earlier the Journal has two sides for each account. At the end of the month or year every account is closed (as in our example 'cash account' was closed). This is done by balancing the account, eg. in the eg. above the Debit side is $1,200 and Credit is $700, so we will add $500 to the Credit side (this addition to Credit side is called a 'Debit balance' and if it was made to the Debit side it would have been called a 'Credit balance'. This Debit balance (as in our eg. $500) will be forwarded to the next month September. So when you will start the Cash account for September you will drag the 'Debit balance' (which was actually on the Credit side last month to the Debit side in September. It is basically a way to show that what you had at the end of last period you start with the same items (which is quite obvious, wonder why they chose such a tough way of doing it). It must be noted that only Balance sheet items (asset, liabilities and equities) are forwarded. Expenses and revenues are not forwarded they are closed (taken to the income statement).\nHope this helps, cheers.
875509
The CPA Journal article “Abusive Earnings Management and Early Warning Signs,” by Lorraine Magrath and Leonard G. Weld (August 2002), distinguished between earnings management activities that are simply good business practices and abusive earnings management intended to deceive the financial community. Good business practices include the following activities:\n\nCareful timing of capital gains and losses; \nUse of conferencing technology to reduce travel costs; and \nPostponement of repair and maintenance activities when faced with unexpected cash flow declines. \n\nOn the other hand, abusive earnings management results from actions such as those cited in the SEC section 704 Report:\n\nImproper revenue recognition; \nImproper expense recognition; and \nUsing reserves to inflate earnings in years with falling revenues. \n\nMagrath and Weld identified six relationships that investors and auditors should consider as early warning signs of abusive earnings management:\n\nCash flows that are not correlated with earnings; \nReceivables that are not correlated with revenues; \nAllowances for uncollectible accounts that are not correlated with receivables; \nReserves that are not correlated with balance sheet items; \nAcquisitions with no apparent business purpose; and \nEarnings that consistently and precisely meet analysts’ expectations
578102
check out this site...it might help\n\nhttp://www.sourcingmag.com/dictionary/Transaction_cost_theory-203.htm
1039958
Depends if you are the donator or the donatee?  But I believe the best would be to do a Journal Entry: Debit Equity & Notes payable, Credit Donations.  The first time you pay the note of 142.00 press ctl M to memorize that transaction then set it up as frequently as you need it and if you need it to be automatic or to remind you.  I would need more info to properly answer.
549520
closing entries are necessary end-of period steps to complete the accounting cycle and prepare the accounts for recording the transactions of the next accounting period.\n\nstep 1: Close Credit Balances in Revenues to Income Summary\n(Debit Revenue, Credit Income Summary)\n\nstep 2: Close Debit Balances in Expenses to Income Summary\n(Debit Income Summary, Credit Expenses)\n\nstep 3: Close Income Summary to Owner's Capital\n(Debit Income Summary, Credit Owner's Capital)\n\nstep 4: Close Withdrawals to Owner's Capital\n(Debit Owner's Capital, Credit Withdrawals)
59945
The Peachtree accounting system is a computerized accounting system that allows users to post entries to journals, ledgers, and subsidiary ledgers all at once. If you have taken Principles of Acct 1 or 2, you know about debits and credits, and about posting those debits/credits to certain accounts and in different ledgers, journals...  Instead of posting in cash disbusements jounals then again in the subsidiary journal, etc., Peachtree allows you to enter the information one time into the appropriate journal, then it posts everywhere else for you. You can enter the original entry in cash disbursements, cash recieved, or in the general journal.  It saves a ton of time and headache.  Peachtree will also make adjusting and closing entries for you at the end of the period with the push of a button.  It's really user friendly.  It will generate balance sheets, income statements, statements of retained earnings, and cash flow statements.  It will print and keep track of invoices (both sent and the invoice numbers of those received), it will print collections letters.    It also keeps track of vendors, customers, and employees.  It maintains vendor info, like contact people, phone numbers, addresses, and purchase history.  It can be used to keep track of customers and certain customer attributes, as well as purchase and payment history, and it will also keep a list of employees, employee information(adresses, phone numbers, social security numbers, and tax withholding info.  It will prepare and print payroll checks (it deducts the taxes and stuff for you).  It has several different formats of any printable document (purchase orders, sales invoices, paychecks, regular checks for payments, etc.  It's pretty handy stuff.  It is one of the most user friendly accounting software packages out there.  I graduated last spring with Bachelors degree in Accounting, and used Peachtree during my senior year.  For what it's worth, I compared it to two other accounting software programs and found Peachtree to be the better program.  Hope that helps!
489298
Are they legitmate charges to your clients? Were the clients billed?\n\nRemember there is lag time , look at your statements\nwhen you make a purchase, sometimes it doesnt show that it was processed until the next day, for several ones.\n\nOne of them is that the merchant forgot to batch out.\n\nDo you even know your only company policy?\n\nWhat didyou say to him or her when she submitted the receipts to your accountant?\n\nOr are you an employee looking for a way to get her fired or in trouble?\n\nWhy doesn't your company audit these transactions?\n\nWhy did your company accept the charges?
461793
Whatever price the current owner is asking for this business, he should be able to support with accurate financial data.\n\nAsk for the last 12 months of financial statements - Profit and Loss Statements, Balance Sheets, etc. Then pick a few months at random, and ask the owner for the supporting documentation (receipts, bank statements, invoices, check stubs, etc.). You will want to make sure that the financial statements are accurate.\n\nIf the owner of this business is unwilling or unable to provide you with this data, DO NOT BUY THIS BUSINESS.
34558
Where I work operations management is audited as it relates to money flow and inventory control.  This is just standard accounting practice.
628958
The journal entry would be:\n1.If you are buying a fixed asset like furniture,\nFixed asset a/c   Dr. \n    To Cash a/c \n\n2.If you are buying consumables,\nPurchases a/c or goods a/c Dr.\n    To cash a/c\n\nSo you credit cash, because you are losing cash and gaining some goods. What comes in is a debit and what goes out is a credit
552821
can you be more specific, you can get anything out from your question? You should rephrase...\n\nCapturing critical information through record keeping: a case study on small business practices.
1132034
Something like QuickBooks should do the job.