Accounting principles overviews, books, discussions, softwares tutorials and lessons, online accounting jobs guide.

Find your accounts job in UAE

Sunday, February 9, 2014

Introduction to Accounting

by Saleh S. Abu-keshek on 5:34 PM
Accounting is a system for collecting, recording, analyzing, and communicating a company's financial information. Accounting is divided into two main categories: financial accounting and managerial accounting. In this video we explore what accounting is, the two main categories of financial and managerial accounting, as well as specific concepts related to those two categories.


Careers: The Real World of Accounting !

by Saleh S. Abu-keshek on 3:18 PM

Undecided about your career? FInd all you need to know about the accounting field to see if this is a career that suits you, or if you should keep away from it !!!


Financial Accounting - Balance Sheet

by Saleh S. Abu-keshek on 2:37 PM
Balance Sheet

This video goes over the accounting equation and how it relates to the Balance Sheet. It also explains the balance sheet both comparative and classified.


Working as a General Ledger Accountant

by Saleh S. Abu-keshek on 12:58 PM
The general ledger is basically the end result of the company's accounting process, and is the source from which all the company's financial reporting is generated. Therefore, the general ledger accountant is responsible for ensuring that all business transactions have been properly accounted for and accurately and completely reflected on the company's books. A general accountant may also be referred to as a corporate accountant or management accountant.
What Does the General Ledger Accountant Do?
The role that the general ledger accountant plays, and the range of functions performed and level of responsibility assigned, will depend on the size and nature of the organization. In a larger organization, a general ledger accountant may specialize in certain areas of the overall accounting operation, while in a smaller organization, the position may involve a wider range of duties and responsibilities.


The Revenue Cycle related Concepts

by Saleh S. Abu-keshek on 5:32 AM

The Revenue Cycle related concepts

REVENUE CYCLE BUSINESS ACTIVITIES:

Four basic business activities are performed in the revenue cycle :

  • -Sales order entry
  • -Shipping
  • -Billing
  • -Cash collection

Definitions

  • Sales order : contains information about item numbers , quantities , prices , and other  items of the sale.
  • Back order : a notification to the customer that his order can not be available .
  • Picking ticket : a list contains the items & it's quantities .
  • Packing slip : lists the quantitie & description of each item included in the shipment .
  • Bill of lading : a legal contract that defines responsibility for the goods in transit .
  • a lockbox : a postal address to which customers sends their remittances .
  • EFT (electronic funds transfer) : a way to make customers send their remittances
  • electronically to the company's bank .
  • FEDI (financial electronic data interchange) : an electronic system that solve the
  • additional data transfering in the EFT by integrats it with the EDI .

Financial Statement Analysis

by Saleh S. Abu-keshek on 4:50 AM

Financial Statement Analysis

FINANCIAL STATEMENT AND ITS ANALYSIS Financial statement analysis is the biggest part of quantitative analysis. It involves looking at historical performance data to estimate the future performance. Followers of quantitative analysis want as much data as they can find on revenue, expenses, assets, liabilities, and all the other financial aspects of a company. The massive amount of numbers in a company's financial statement can be confusing and scary to many investors. On the other hand, if you know how to read them, the financial statements are a gold mine of information. To learn and understand the financial situation of a business whether you are a part of management, an investor, creditor or lender, or a partner, the first step is the examination of the firm’s basic financial statement. Each group is interested in different things. For example: -An investor might assess profitability, growth, stability, and the rate of dividends. -On the other hand, a creditor is much more interested in the amount of debt that a company currently has and whether it has the ability to make repayments.


Differences between Profit and Nonprofit Accounting

by Saleh S. Abu-keshek on 3:34 AM

Differences between Profit and Nonprofit Accounting in Financial statement analysis :

Financial statement analysis Differences between for-profit and non-profit organizations Organizational differences • Different orientation toward the bottom line. • Although both must comply with GAAP and FASB, SEC monitors for-profit organization accounting. IRS and state regulator monitor non-for profit. Governmental accounting has a separate set of rules. Other differences in stakeholders • Investors versus donors or government agencies • IRS: need to comply with 501( c) 3 (and other) requirements • Need to maintain credibility and respect of community Resulting differences • Fund accounting – restricted, temporarily restricted, permanently restricted accounts – endowment, agency, enterprise funds Other differences • Separation of expenses into functional categories – Program – Administrative – Fundraising Other differences • Closer links between IRS Form 990 requirements and financial statements Similarities • Need to look at one organization across time – need consistent accounting procedures – need to understand the footnotes Need for information from different perspectives • Balance sheet--snap shot • Cash flow statement--solvency • Activities (income statement)--Matching Ratio analysis • Same basic ratios for solvency, liquidity, profitability (less important) with some additional issues.

Subscribe to: Posts (Atom)