What is the accounting cycle?
The accounting cycle is often described as a process that includes the following steps: identifying, collecting and analyzing documents and transactions, recording the transactions in journals, posting the journalized amounts to accounts in the general and subsidiary ledgers, preparing an unadjusted trial balance, perhaps preparing a worksheet, determining and recording adjusting entries, preparing an adjusted trial balance, preparing the financial statements, recording and posting closing entries, preparing a post-closing trial balance, and perhaps recording reversing entries.
Cycle and steps seem to be a carryover from the days of manual bookkeeping and accounting when transactions were first written into journals. In a separate step the amounts in the journal were posted to accounts. At the end of each month, the remaining steps had to take place in order to get the monthly, manually-prepared financial statements.
Today, most companies use accounting software that processes many of these steps simultaneously. The speed and accuracy of the software reduces the accountant's need for a worksheet containing the unadjusted trial balance, adjusting entries, and the adjusted trial balance. The accountant can enter the adjusting entries into the software and can obtain the complete financial statements by simply selecting the reports from a menu. After reviewing the financial statements, the accountant can make additional adjustments and almost immediately obtain the revised reports. The software will also prepare, record, and post the closing entries
Accounting Cycle - Ledgers - Capturing accounting eventFaHaD .H. NooR
What is a general ledger account?
A general ledger account is an account or record used to sort and store balance sheet and income statement transactions. Examples of general ledger accounts include the asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment. Examples of the general ledger liability accounts include Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits. Examples of income statement accounts found in the general ledger include Sales, Service Fee Revenues, Salaries Expense, Rent Expense, Advertising Expense, Interest Expense, and Loss on Disposal of Assets.
Some general ledger accounts are summary records which are referred to as control accounts. The detail that supports each of the control accounts will be found outside of the general ledger in what is known as a subsidiary ledger. For example, Accounts Receivable could be a control account in the general ledger, and there will be a subsidiary ledger which contains each customer's credit activity. The general ledger accounts Inventory, Equipment, and Accounts Payable could also be control accounts and for each there will be a subsidiary ledger containing the supporting detail.
Financial accounting Meaning . This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTSBibek Prajapati
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTS
Accounting Cycle - Ledgers - Capturing accounting eventFaHaD .H. NooR
What is a general ledger account?
A general ledger account is an account or record used to sort and store balance sheet and income statement transactions. Examples of general ledger accounts include the asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment. Examples of the general ledger liability accounts include Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits. Examples of income statement accounts found in the general ledger include Sales, Service Fee Revenues, Salaries Expense, Rent Expense, Advertising Expense, Interest Expense, and Loss on Disposal of Assets.
Some general ledger accounts are summary records which are referred to as control accounts. The detail that supports each of the control accounts will be found outside of the general ledger in what is known as a subsidiary ledger. For example, Accounts Receivable could be a control account in the general ledger, and there will be a subsidiary ledger which contains each customer's credit activity. The general ledger accounts Inventory, Equipment, and Accounts Payable could also be control accounts and for each there will be a subsidiary ledger containing the supporting detail.
Financial accounting Meaning . This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTSBibek Prajapati
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTS
Both the chapters journal and ledger along with the accounting cycle is resent in the PPT with their formats. It makes the learning of the chapters easy for an accountancy student.
Basics of Accounting. Principles and concepts of Accounting
what is Double Entry System of Accounting?what Financial Statements?
Accounting is a process of identifying, recording, summarising and reporting economic information
to decision makers in the form of financial statements.
To suggest, as textbooks tend to do, that politics takes place in a social context fails to convey just how intimately politics and social life are related. Politics, by its very nature, is a social activity, and it is viewed by some as nothing more than the process through which the conflicts of society are articulated and, perhaps, resolved. In this sense, society is no mere 'context', but the very stuff and substance of politics itself. Although later chapters examine the interaction between society and politics in relation to particular channels of communication, such as the media, elections, political parties, interest groups and so on, this chapter focuses on the broader political implications of how society is structured and how it has changed and continues to change. For example, the transition from agrarian societies to industrial societies and then to so-called post-industrial society has profoundly altered levels of social connectedness and given rise to new political battle lines. Not only has post-industrialism been associated with the declining significance of social class, but technological change, particularly in the fields of information and communication, has altered the breadth of connections between and among people, as well as the nature of these connections. These and related factors have been linked to the strengthening of individualism, with major political consequences. Modern thinking about the relationship between politics and society is, nevertheless, increasingly focused on the issue of identity, which, many claim, has given rise to a new politics of group self-assertion, commonly called identity politics. Amongst its other implications, this trend has highlighted the political significance of factors such as race and ethnicity, gender and culture
Post-industrialism is characterized, amongst other things, by an increasing emphasis on knowledge and information generally, with the advent of the internet and the wider use of computer-based technologies having given rise to the 'information society'. Not only do information societies connect more people to more other people, but the nature of those connections has also changed, especially through the development of looser and more diffuse networks
Media and Political Culture - Law & PoliticsFaHaD .H. NooR
Much of politics takes place in our heads; that is, it is shaped by our ideas, values and assumptions about how society should be organized, and our expectations, hopes and fears about government. Ultimately, what we believe about the society in which we live may be more important than the reality of its power structure, and the actual distribution of resources and opportunities within it. Perception may not only be more important than reality; in practical terms, perception may be reality. This highlights the vital role played by what is called 'political culture'. People's beliefs, symbols and values structure both their attitude to the political process and, crucially, their view of the regime in which they live. However, there is significant disagreement about the nature and role of the political culture, not least over whether it sustains democracy or is aligned with the interests of dominant groups. Others have highlighted concerns about the political culture's (apparently) declining capacity to foster civic engagement and a sense of social belonging. The issue of the political culture also draws attention to extent to which the politics of modern societies is conducted through the media – newspapers, television, the internet, mobile phones and so on. The media constitute much more than a channel of communications; they are part of the political process itself, affecting, and not merely reflecting, the distribution of power in society at large. Long-standing debate about the media's relationship with democracy and styles of governance have been given a fresh twist by the advent of electronic-based 'new' media, while media influence generally has been associated with a growing emphasis in politics on 'news management' and what is called 'spin'.
The mass media has affected governance in various ways. These include that they have transformed political leadership and, in the process, reapportioned government power. They have also changed the political culture and, some have warned, contributed to declining respect for politicians and politics in general. Finally, the growing influence of the media is evident in a policy-making process that has to react more rapidly and make sense of a vast amount of information
Both the chapters journal and ledger along with the accounting cycle is resent in the PPT with their formats. It makes the learning of the chapters easy for an accountancy student.
Basics of Accounting. Principles and concepts of Accounting
what is Double Entry System of Accounting?what Financial Statements?
Accounting is a process of identifying, recording, summarising and reporting economic information
to decision makers in the form of financial statements.
To suggest, as textbooks tend to do, that politics takes place in a social context fails to convey just how intimately politics and social life are related. Politics, by its very nature, is a social activity, and it is viewed by some as nothing more than the process through which the conflicts of society are articulated and, perhaps, resolved. In this sense, society is no mere 'context', but the very stuff and substance of politics itself. Although later chapters examine the interaction between society and politics in relation to particular channels of communication, such as the media, elections, political parties, interest groups and so on, this chapter focuses on the broader political implications of how society is structured and how it has changed and continues to change. For example, the transition from agrarian societies to industrial societies and then to so-called post-industrial society has profoundly altered levels of social connectedness and given rise to new political battle lines. Not only has post-industrialism been associated with the declining significance of social class, but technological change, particularly in the fields of information and communication, has altered the breadth of connections between and among people, as well as the nature of these connections. These and related factors have been linked to the strengthening of individualism, with major political consequences. Modern thinking about the relationship between politics and society is, nevertheless, increasingly focused on the issue of identity, which, many claim, has given rise to a new politics of group self-assertion, commonly called identity politics. Amongst its other implications, this trend has highlighted the political significance of factors such as race and ethnicity, gender and culture
Post-industrialism is characterized, amongst other things, by an increasing emphasis on knowledge and information generally, with the advent of the internet and the wider use of computer-based technologies having given rise to the 'information society'. Not only do information societies connect more people to more other people, but the nature of those connections has also changed, especially through the development of looser and more diffuse networks
Media and Political Culture - Law & PoliticsFaHaD .H. NooR
Much of politics takes place in our heads; that is, it is shaped by our ideas, values and assumptions about how society should be organized, and our expectations, hopes and fears about government. Ultimately, what we believe about the society in which we live may be more important than the reality of its power structure, and the actual distribution of resources and opportunities within it. Perception may not only be more important than reality; in practical terms, perception may be reality. This highlights the vital role played by what is called 'political culture'. People's beliefs, symbols and values structure both their attitude to the political process and, crucially, their view of the regime in which they live. However, there is significant disagreement about the nature and role of the political culture, not least over whether it sustains democracy or is aligned with the interests of dominant groups. Others have highlighted concerns about the political culture's (apparently) declining capacity to foster civic engagement and a sense of social belonging. The issue of the political culture also draws attention to extent to which the politics of modern societies is conducted through the media – newspapers, television, the internet, mobile phones and so on. The media constitute much more than a channel of communications; they are part of the political process itself, affecting, and not merely reflecting, the distribution of power in society at large. Long-standing debate about the media's relationship with democracy and styles of governance have been given a fresh twist by the advent of electronic-based 'new' media, while media influence generally has been associated with a growing emphasis in politics on 'news management' and what is called 'spin'.
The mass media has affected governance in various ways. These include that they have transformed political leadership and, in the process, reapportioned government power. They have also changed the political culture and, some have warned, contributed to declining respect for politicians and politics in general. Finally, the growing influence of the media is evident in a policy-making process that has to react more rapidly and make sense of a vast amount of information
Politics is the activity through which people make, preserve and amend the general rules under which they live. As such, it is an essentially social activity, inextricably linked, on the one hand, to the existence of diversity and conflict, and, on the other, to a willingness to cooperate and act collectively. Politics is better seen as a search for conflict resolution than as its achievement, as not all conflicts are, or can be, resolved.
Politics has been understood differently by different thinkers and within different traditions. Politics has been viewed as the art of government or as 'what concerns the state'; as the conduct and management of public affairs; as the resolution of conflict through debate and compromise; and as the production, distribution and use of resources in the course of social existence
Nations are defined by a combination of cultural and political factors. Culturally, they are groups of people who are bound together by a common language, religion, history and traditions. Ultimately, however, nations define themselves through the existence of a shared civic consciousness, classically expressed as the desire to achieve or maintain statehood.
Distinctive cultural and political forms of nationalism can be identified. Cultural nationalism emphasizes the regeneration of the nation as a distinctive civilization on the basis of a belief in the nation as a unique, historical and organic whole. Political nationalism, on the other hand, recognizes the nation as a discrete political com munity, and is thus linked with ideas such as sovereignty and self-determination
There have been a number of contrasting manifestations of political nationalism. Liberal nationalism is based on a belief in a universal right to self-determination. Conservative nationalism values the capacity of national patriotism to deliver social cohesion and political unity. Expansionist nationalism is a vehicle for aggression and imperial conquest. Anticolonial nationalism is associated with the struggle for national liberation, often fused with the quest for social development
The nation-state now confronts a number of challenges. Nation-states have been subject to centrifugal pressures generated by the growth in ethnic politics. Extern ally, they have confronted challenges from the growing power of supranational bodies, the advance of economic and cultural globalization, and the need to find international solutions to the environmental crisis
Legitimacy maintains political stability because it establishes a regime's right to rule, and so underpins the regime's authority over its people. Legitimacy may be based on traditional, charismatic or legal–rational authority. Nevertheless, structural imbalances in modern society may make it increasingly difficult to maintain legitimacy. Legitimation crises may arise from the conflict between the pressure for social and economic interventionism generated by democracy on the one hand, and the pressure generated by market economy on the other.
There is considerable controversy about how liberal-democratic systems work in practice. Pluralists praise the system's capacity to guarantee popular responsiveness and public accountability. Elitists highlight the tendency for political power to be concentrated in the hands of a privileged minority. Corporatists draw attention to the incorporation of groups into government. The New Right focuses on the dangers of 'democratic overload'. And Marxists point to tensions between democracy and capitalism.There are a number of rival models of democracy, each offering its own version of popular rule. Classical democracy, which is based on the political system of Ancient Athens, is defended on the grounds that it alone guarantees government by the people. Protective democracy gives citizens the greatest scope to live their lives as they choose. Developmental democracy has the virtue that, in extending participation, it widens liberty and fosters personal growth. People's democracy aims to achieve economic emancipation, rather than merely the extension of political rights.
Basic of Financial Accounting - Easy NotesFaHaD .H. NooR
These notes will provide you understanding basic of financial accounting
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
Companies issue financial statements on a routine schedule. The statements are considered external because they are given to people outside of the company, with the primary recipients being owners/stockholders, as well as certain lenders. If a corporation's stock is publicly traded, however, its financial statements (and other financial reportings) tend to be widely circulated, and information will likely reach secondary recipients such as competitors, customers, employees, labor organizations, and investment analysts.
It's important to point out that the purpose of financial accounting is not to report the value of a company. Rather, its purpose is to provide enough information for others to assess the value of a company for themselves.If financial accounting is going to be useful, a company's reports need to be credible, easy to understand, and comparable to those of other companies. To this end, financial accounting follows a set of common rules known as accounting standards or generally accepted accounting principles (GAAP, pronounced "gap").
Political Ideas and Ideologies - Law & PoliticsFaHaD .H. NooR
Ideology is a controversial political term that has often carried pejorative implications. In the social-scientific sense, a political ideology is a more or less coherent set of ideas that provides a basis for organized political action. Its central features are an account of existing power relationships, a model of a desired future, and an outline of how political change can and should be brought about. Ideologies link political theory with political practice. On one level, ideologies resemble political philosophies, in that they constitute a collection of values, theories and doctrines; that is, a distinctive world-view. On another level, however, they take the form of broad political movements, and are articulated through the activities of political leaders, parties and groups
Every ideology can be associated with a characteristic set of principles and ideas. Although these ideas 'hang together', in the sense that they interlock in distinctive ways, they are systematic or coherent only in a relative sense. All ideologies thus embody a range of rival traditions and internal tensions. Conflict within ideologies is thus sometimes more passionate than that between ideologies.
Informal Reports - Progress Report - Information Reports - Feasibility Report...FaHaD .H. NooR
Ten Keys to Designing Better Documents
The differences between formal and informal reports include tone, structure, scope, content and purpose. Another difference is that formal reports are often used in academic papers or to provide a lengthy overview of a major change or development within a business, while informal reports are used for shorter documents, such as memos and newsletters. Consequently, formal reports are more detailed than informal reports.Formal reports have a set structure: an introduction, body and conclusion. However, informal reports can be structured in any way. Formal reports also have a formal tone and use third-person narrative, while most informal reports use first- or second-person narrative. Although some informal reports use a professional tone, it is not required in many cases.
The scope of informal and formal reports is another major difference. Formal reports analyze a specific topic in great detail. On the other hand, informal reports are often very brief and only include the most relevant information.
Formal reports also provide evidence to back up the information in the report. Since informal reports are brief, this is not included in this type of report. Formal reports usually include citations for the sources used to generate the report. Charts, graphs and statistical information are also common components of formal reports. This information provides evidence and summarizes the findings of the report.
Accounting Cycle- Accruals and Defferls- Adjusting entriesFaHaD .H. NooR
An accrual occurs before a payment or receipt. A deferral occurs after a payment or receipt. There are accruals for expenses and for revenues. There are deferrals for expenses and for revenues.
An accrual of an expense refers to the reporting of an expense and the related liability in the period in which they occur, and that period is prior to the period in which the payment is made. An example of an accrual for an expense is the electricity that is used in December, but the payment will not be made until January.
An accrual of revenues refers to the reporting of revenues and the related receivables in the period in which they are earned, and that period is prior to the period of the cash receipt. An example of the accrual of revenues is the interest earned in December on an investment in a government bond, but the interest will not be received until January.
A deferral of an expense refers to a payment that was made in one period, but will be reported as an expense in a later period. An example is the payment in December for the six-month insurance premium that will be reported as an expense in the months of January through June.
A deferral of revenues refers to receipts in one accounting period, but they will be earned in future accounting periods. For example, the insurance company has a cash receipt in December for a six-month insurance premium. However, the insurance company will report this as part of its revenues in January through June.
These slides will help you preparing for an interview.
Following up after a job interview is an important, yet often overlooked, part of the job search process. It allows you to thank the interviewer for his or her time while also reiterating your interest in the job and your potential to positively contribute to the company. However, following-up can be a delicate process and going about it the wrong way can actually hurt your chances. This article will address the most appropriate way to follow-up after a job interview to help you stand out from the other job applicants.
If the interviewer does not offer a timeline for their decision-making process, you are perfectly entitled to ask for one. Find out when they expect to let candidates know their decision, who in the company will be contacting the candidates (interviewer, HR manager), and through what means - email, phone call or letter.
This will give you the person’s correct contact information, including name, title, mailing address and email address, which will save you time when you are sending your thank you note and letter.You should do this as soon after the interview as possible, from your smartphone on the way out of the building, as soon as you get home, or at least the same evening as the interview. This shows the interviewer that you are both enthusiastic and organized and ensures that they will not forget you as a candidate.
Accounting Cycle - Trial Balance - Easy AccountingFaHaD .H. NooR
Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first step towards the preparation of financial statements. It is usually prepared at the end of an accounting period to assist in the drafting of financial statements. Ledger balances are segregated into debit balances and credit balances. Asset and expense accounts appear on the debit side of the trial balance whereas liabilities, capital and income accounts appear on the credit side. If all accounting entries are recorded correctly and all the ledger balances are accurately extracted, the total of all debit balances appearing in the trial balance must equal to the sum of all credit balances.
Purpose of a Trial Balance
Trial Balance acts as the first step in the preparation of financial statements. It is a working paper that accountants use as a basis while preparing financial statements.
Trial balance ensures that for every debit entry recorded, a corresponding credit entry has been recorded in the books in accordance with the double entry concept of accounting. If the totals of the trial balance do not agree, the differences may be investigated and resolved before financial statements are prepared. Rectifying basic accounting errors can be a much lengthy task after the financial statements have been prepared because of the changes that would be required to correct the financial statements.
Trial balance ensures that the account balances are accurately extracted from accounting ledgers.
Trail balance assists in the identification and rectification of errors.
Limitations of a trial balance
Trial Balance only confirms that the total of all debit balances match the total of all credit balances. Trial balance totals may agree in spite of errors. An example would be an incorrect debit entry being offset by an equal credit entry. Likewise, a trial balance gives no proof that certain transactions have not been recorded at all because in such case, both debit and credit sides of a transaction would be omitted causing the trial balance totals to still agree.
Trial Balance Format
The initial trial balance report contains the following columns:
Account number
Account name
Ending debit balance (if any)
Ending credit balance (if any)
Persuasive Resume - Cover Letter - Job Letter WritingFaHaD .H. NooR
these slides will help you writing persuasive cover letter, resume and job letter.
Job seekers frequently send a cover letter along with their curriculum vitae or applications for employment as a way of introducing themselves to potential employers and explaining their suitability for the desired positions. Employers may look for individualized and thoughtfully written cover letters as one method of screening out applicants who are not sufficiently interested in their positions or who lack necessary basic skills.
The functional résumé is used to focus on skills that are specific to the type of position being sought. This format directly emphasizes specific professional capabilities and utilizes experience summaries as its primary means of communicating professional competency. In contrast, the chronological résumé format will briefly highlight these competencies prior to presenting a comprehensive timeline of career growth through reverse chronological listings, with the most recent experience listed first. The functional résumé works well for those making a career change, having a varied work history or with little work experience. A functional résumé is also preferred for applications to jobs that require very specific skills or clearly defined personality traits. A functional résumé is a good method for highlighting particular skills or experiences, especially when those particular skills or experiences may have derived from a role which was held some time ago. Rather than focus on the length of time that has passed, the functional résumé allows the reader to identify those skills quickly.
BASIC ACCOUNTING FOR ALL INCLUDING MANAGERS. ACCOUNTING, DOUBLE ENTRY SYSTEM, JOURNEL (defination,advantages/limitations, how to make,) TRAIL BALANCE(defination,limitations/advantages, steps}
ACCOUNTING PRINCIPLES 1. Which of the following is not a core financial statement?
a. The Income Statement
b. Statement of Cash Flows
c. The Trial Balance
d. The Balance Sheet
2. The income statement, which presents the results of operations, can be prepared in many forms including:
a. Single Step Income Statement
b. Condensed Income Statement
c. Common Sized Income Statement
d. All of the above
3. Which of the following account types increase by debits in double-entry accounting?
a. Assets, Expenses, Losses
b. Assets, Revenue, Gains
c. Expenses, Liabilities, Losses
d. Gains, Expenses, Liabilities
4. Which of the following is true?
a. Accounts receivable are found in the current asset section of a balance sheet.
b. Accounts receivable increase by credits.
c. Accounts receivable are generated when a customer makes payments.
d. Accounts receivable become more valuable over time.
5. A company that uses the cash basis of accounting will:
a. Record revenue when it is collected.
b. Record revenue when it is earned.
c. Record revenue at the same time as accounts receivable.
d. Record bad debt expense on the income statement.
6. What are the main sections on a balance sheet?
a. Assets, liabilities, income
b. Assets, liabilities, equity
c. Assets, liabilities, expenses
d. Assets, gains, revenue
7. How are a company’s financial statements used?
a. For internal analysis
b. For external negotiation
c. For compliance
d. All of the above
8. Which of the following scenarios increases accounts payable?
a. A customer fails to pay an invoice.
b. A supplier delivers raw materials on credit.
c. Office supplies are purchased with cash.
d. None of the above
9. Which of the following must a certified public accountant (CPA) have in-depth knowledge of to pass the CPA licensing exam? (Check all that apply.)
a. Accounting software packages
b. Auditing
c. Derivatives
d. International banking laws
10. What is the result of the following transaction for Company A? Company A’s customer is unable to pay for a previous credit sale in accordance with Company A’s 90-day payment terms. The customer makes a promissory note to Company A that extends payment over a 24-month term including 5% interest.
a. No result because the customer didn’t pay.
b. Accounts receivable increases because of the interest.
c. A note receivable is recorded in non-current assets.
d. Company A records the loan as a liability.
11. When are liabilities recorded under the accrual basis of accounting?
a. When incurred
b. When paid
c. At the end of the fiscal year
d. When bank accounts are reconciled
12. Which is true about time in accounting?
a. Current liabilities are debts payable within 2 years.
b. Balance sheets reflect a company’s financial position at a certain point in time.
c. The time value of money is a finance concept, not relevant in accounting.
d. Accounts receivable are more easily collected as time passes.
13. When a company purchases property, plant, and equipment, how is it reflected on the
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This certificate above verifies that Fahad Hassan Noor successfully completed the course Amazon FBA Private Label Course for Beginners | Amazon 2021 on 12/06/2020 as taught by Mehmet TEK, Esengül AKPOLAT, Emparazon Academy on Udemy. The certificate indicates the entire course was completed as validated by the student. The course duration represents the total video hours of the course at time of most recent completion.
Complete Video Production, Video Marketing, & YouTube Course - Fahad Hassan NoorFaHaD .H. NooR
This certificate above verifies that Fahad Hassan Noor successfully completed the course Complete Video Production, Video Marketing, & YouTube Course on 09/05/2021 as taught by Ing. Tomas Moravek | SEO, Facebook Ads & Facebook Marketing Expert, SEO, Facebook Ads & Digital Marketing Academy, Beck Robertson on Udemy. The certificate indicates the entire course was completed as validated by the student. The course duration represents the total video hours of the course at time of most recent completion.
While many firms are part of supply chain not all are managed in any truly coordinated fashion.
Many firms within supply chain wants to work independently.
Firms with large system inventories, many suppliers, complex product assemblies and highly valued customers benefit most from the practice of supply chain management.
For these firms, even moderate supply chain management success can mean lower purchasing and inventory carrying costs, better product quality and higher levels of customer service—all leading to more sales.
Creating and Managing Supplier RelationshipsFaHaD .H. NooR
Companies require their suppliers to deliver innovative and quality products not only in just-in-time (JIT) fashion, but also at a competitive price.
Good supplier relations can provide many benefits such as flexibility in terms of delivery, better quality, better information, and better material flows between buyers and suppliers.
Selecting the right supply partners and successfully managing these relationships over time is thus strategically important; it is often stated that “a firm is only as good as its suppliers.”
Purchasing departments contributes in product design, quality, cost of goods sold, manufacturing cycle time.
Ethical and Sustainable sourcing practices have become area of concern over the past five to ten years.
Global population growth, increasing environmental awareness, consumers desires for better corporate responsibility, and declining worldwide levels of natural resources has pressured companies to effectively implement these practices.
Purchasing mangement - Puchasing Process - Make Or Buy Decisions - Supplier S...FaHaD .H. NooR
Purchasing department in any organization assist with the identification, selection and acquisition of required materials and services.
Accomplish this as economically as possible, within acceptable standards of quality and service.
“Purchasing profession can be defined as the act of obtaining merchandise; equipment; raw materials; services; or maintenance, repair and operating (MRO) supplies in exchange for money or its equivalent”.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
2. THE ACCOUNTTHE ACCOUNT
An account is an individual accounting
record of increases and decreases in a
specific asset, liability, or owner’s
equity item.
A company will have separate
accounts for such items as cash,
salaries expense, accounts payable,
and so on.
3. The Role of Accounting Records
Establishes accountability for assets and
transactions.
Establishes accountability for assets and
transactions.
Keeps track of routine business activities.Keeps track of routine business activities.
Obtains detailed information about a
particular transaction.
Obtains detailed information about a
particular transaction.
Evaluates efficiency and performance
within company.
Evaluates efficiency and performance
within company.
Maintains evidence of a company’s
business activities.
Maintains evidence of a company’s
business activities.
4. DEBITS AND CREDITSDEBITS AND CREDITS
The term debit means left and credit means right
respectively.
The act of entering an amount on the left side of an
account is called debiting the account and making an
entry on the right side is crediting the account.
When the debit amounts exceed the credits, an account
has a debit balance; when the reverse is true, the account
has a credit balance. DR CR
5. DOUBLE-ENTRY SYSTEMDOUBLE-ENTRY SYSTEM
In a double-entry system, equal debits and
credits are made in the accounts for each
transaction.
Thus, the total debits will always equal the
total credits and the accounting equation
will always stay in balance.
Assets Liabilities Equity
6. DEBIT AND CREDIT EFFECTS —DEBIT AND CREDIT EFFECTS —
ASSETS AND LIABILITIESASSETS AND LIABILITIES
Debits Credits
Increase assets Decrease assets
Decrease liabilities Increase liabilities
7. NORMAL BALANCENORMAL BALANCE
Every account classification has a
normal balance, whether it is a debit
or credit.
For that particular account, the
opposite side entries should never
exceed the normal balance.
8. AA = LL + OEOE
ASSETSASSETS
Debit for
Increase
Credit for
Decrease
EQUITIESEQUITIES
Debit
for
Decrease
Credit for
Increase
LIABILITIESLIABILITIES
Debit
for
Decrease
Credit for
Increase
Debits and credits affect accounts as follows:Debits and credits affect accounts as follows:
Debit and Credit Rules
9. NORMAL BALANCES — ASSETSNORMAL BALANCES — ASSETS
AND LIABILITIESAND LIABILITIES
Assets
Increase Decrease
Debit
Credit
Decrease Increase
Liabilities
Normal
Balance
10. DEBIT AND CREDIT EFFECTS —DEBIT AND CREDIT EFFECTS —
OWNER’S CAPITALOWNER’S CAPITAL
Debits Credits
Decrease owner’s capital Increase owner’s capital
11. NORMAL BALANCE —NORMAL BALANCE —
OWNER’S CAPITALOWNER’S CAPITAL
Owner’s Capital
Decrease Increase
Debit
Credit
Normal
Balance
13. NORMAL BALANCE —NORMAL BALANCE —
OWNER’S DRAWINGOWNER’S DRAWING
Owner’s Drawing
Normal
Balance
Increase Decrease
Debit Credit
14. DEBIT AND CREDIT EFFECTS —DEBIT AND CREDIT EFFECTS —
REVENUES AND EXPENSESREVENUES AND EXPENSES
Decrease revenues Increase revenues
Increase expenses Decrease expenses
Debits Credits
15. NORMAL BALANCES — REVENUESNORMAL BALANCES — REVENUES
AND EXPENSESAND EXPENSES
Increase Decrease
Expenses
Revenues
Decrease Increase
Debit
Credit
Normal
Balance
Normal
Balance
16. EXPANDED BASIC EQUATION ANDEXPANDED BASIC EQUATION AND
DEBIT/CREDIT RULES AND EFFECTSDEBIT/CREDIT RULES AND EFFECTS
LiabilitiesAssets Owner’s Equity
= + -
+=
+ -
Assets
Dr. Cr.
+ -
Liabilities
Dr. Cr.
- +
Dr. Cr.
Owner’s
Drawing
+ -
Dr. Cr.
Revenues
- +
Dr. Cr.
Expenses
+ -
Dr. Cr.
Owner’s
Capital
- +
17. Accounting Periods
Time Period Principle
To provide users of financial
statements with timely information,
net income is measured for relatively
short accounting periods of equal
length.
Time Period Principle
To provide users of financial
statements with timely information,
net income is measured for relatively
short accounting periods of equal
length.
18. Revenue and Expenses
The price for goods
sold
and services
rendered during a
given accounting
period.
Increases
owners’ equity.
The costs of
goods and
services used up
in the process of
earning revenue.
Decreases
owner’s equity.
19. The Realization Principle:
When To Record Revenue
Realization Principle
Revenue should be
recognized at the time
goods are sold and
services are rendered.
20. The Matching Principle: When
To Record Expenses
Matching Principle
Expenses should be
recorded in the period
in which they are used
up.
22. EQUITIESEQUITIES
DebitDebit
forfor
DecreaseDecrease
Credit forCredit for
IncreaseIncrease
Payments to
owners
decrease
owners’
equity.
Owners’
investments
increase
owners’
equity.
DIVIDENDSDIVIDENDS
CreditCredit
forfor
DecreaseDecrease
DebitDebit
forfor
IncreaseIncrease
Investments by and Payments to Owners
CAPITAL STOCKCAPITAL STOCK
DebitDebit
forfor
DecreaseDecrease
Credit forCredit for
IncreaseIncrease
23. The basic steps in the recording process are:
1 Analyze each transaction for its effect on
the accounts.
2 Enter the transaction information in a
journal (book of original entry).
3 Transfer the journal information to the
appropriate accounts in the ledger (book of
accounts).
STEPS IN THESTEPS IN THE
RECORDING PROCESSRECORDING PROCESS
24. ILLUSTRATIONILLUSTRATION 2-122-12
THE RECORDINGTHE RECORDING
PROCESSPROCESS
1 Analyze each transaction
2 Enter transaction in a journal
3 Transfer journal information to ledger accounts
JOURNAL
JOURNAL
LEDGER
25. THE JOURNALTHE JOURNAL
Transactions are initially recorded in
chronological order in a journal before being
transferred to the accounts.
Every company has a general journal which
contains:
1 spaces for dates,
2 account titles and explanations,
3 references, and
4 two amount columns.
26. The journal makes several significant contributions to the
recording process:
1 It discloses in one place the complete effect of a
transaction.
2 It provides a chronological record of transactions.
3 It helps to prevent or locate errors because the debit and
credit amounts for each entry can be readily compared.
THE JOURNALTHE JOURNAL
27. JOURNALIZINGJOURNALIZING
Entering transaction data in the journal is known
as journalizing.
Separate journal entries are made for each
transaction.
A complete entry consists of:
1 the date of the transaction,
2 the accounts and amounts to be debited and
credited, and
3 a brief explanation of the transaction.
28. TECHNIQUE OF JOURNALIZINGTECHNIQUE OF JOURNALIZING
The date of the transaction is entered in the date column.The date of the transaction is entered in the date column.
29. TECHNIQUE OF JOURNALIZINGTECHNIQUE OF JOURNALIZING
The debit account title is entered at the extreme left
margin of the Account Titles and Explanation column.
The credit account title is indented on the next line.
The debit account title is entered at the extreme left
margin of the Account Titles and Explanation column.
The credit account title is indented on the next line.
30. TECHNIQUE OF JOURNALIZINGTECHNIQUE OF JOURNALIZING
The amounts for the debits are recorded in the Debit
column and the amounts for the credits are recorded in
the Credit column.
The amounts for the debits are recorded in the Debit
column and the amounts for the credits are recorded in
the Credit column.
31. TECHNIQUE OF JOURNALIZINGTECHNIQUE OF JOURNALIZING
A brief explanation of the transaction is given.A brief explanation of the transaction is given.
32. TECHNIQUE OF JOURNALIZINGTECHNIQUE OF JOURNALIZING
A space is left between journal entries. The blank
space separates individual journal entries and makes
the entire journal easier to read.
A space is left between journal entries. The blank
space separates individual journal entries and makes
the entire journal easier to read.
33. TECHNIQUE OF JOURNALIZINGTECHNIQUE OF JOURNALIZING
The column entitled Ref. is left blank at the time
journal entry is made and is used later when the
journal entries are transferred to the ledger accounts.
The column entitled Ref. is left blank at the time
journal entry is made and is used later when the
journal entries are transferred to the ledger accounts.
34. If an entry involves only two accounts, one debit and
one credit, it is considered a simple entry.
If an entry involves only two accounts, one debit and
one credit, it is considered a simple entry.
SIMPLE AND COMPOUNDSIMPLE AND COMPOUND
JOURNAL ENTRIESJOURNAL ENTRIES
35. When three or more accounts are required in one
journal entry, the entry is referred to as a
compound entry.
When three or more accounts are required in one
journal entry, the entry is referred to as a
compound entry.
COMPOUND JOURNAL ENTRYCOMPOUND JOURNAL ENTRY
2
1
3
36. COMPOUND JOURNAL ENTRYCOMPOUND JOURNAL ENTRY
This is the wrong format; all debits must be listed
before the credits are listed.
This is the wrong format; all debits must be listed
before the credits are listed.
37. Journalize
transactions.
Post entries to
the ledger
accounts.
Prepare trial
balance.
Make end-of-
year
adjustments.
Prepare adjusted
trial balance.
Prepare financial
statements.
Prepare after-closing
trial balance.
Journalize and
post closing
entries.
The Accounting Cycle
Editor's Notes
All accountants play a pivotal roll in establishing and maintaining economic information about a company. Much of Chapter Three will illustrate how an accounting system works. Most information is stored on computers -- and accounting information is no exception.
Accountants must be proficient in establishing and maintaining databases of financial information for a company. This information is used to prepare financial statements and other reports of interest to management and others.
To review, the left side of a ledger account is always called the debit, and the right side is always called the credit. Now, let’s move on to the mathematics of the double-entry system. Liabilities and Equity have the opposite sign of Assets. If liabilities were to move to the left side of the equation, it would read assets minus liabilities equal equity. As a convention of double-entry accounting, it’s been decided that a debit, or left side, of an asset account will represent an increase in the asset account balance. This convention determines all of the remaining math.Because Liabilities and Equity have the opposite sign of Assets, a debit to a liability or equity account must mean a decrease and a credit means an increase. Instead of using the terms increase and decrease we use the terms debit and credit. It is important to remember whether we are talking about an asset, liability, or equity account for the meaning of a debit or a credit.
It may take a short while to become accustomed to using the terms debit and credit, but with practice the concept can be easily mastered.
To provide timely and meaningful information to users of financial statements, business operations are divided into arbitrary time periods. Financial statements are usually prepared monthly. However, many transactions cross from one accounting period to the next. This creates a problem for accountants.
Part IRevenues represent the price of goods sold or services rendered to customers during any given accounting period. Revenues increase owners’ equity.Part IIExpenses are the cost of goods or services used up in the process of earning revenue. Accountants try to match expenses incurred with the revenues generated in an accounting period. Expenses decrease owners’ equity.
One of the basic concepts of accounting is that revenue should be recognized when the goods or services are sold to customers. This concept may take some time to understand, as most people are cash-based. That is, they recognize revenue when cash is received rather than when it is earned and recognize expenses when paid rather than when incurred.
The matching principle states that we must match expenses with the period in which they are used.
Part ILet’s look more closely at the recording of revenues and expenses. To review, revenues increase owners’ equity and expenses decrease owners’ equity.Part IIA decrease is shown in owners’ equity with a debit. Increases in expenses must be recorded as debits in a separate ledger account.Part IIIAn increase in owners’ equity is shown with a credit. Increases in revenues must be recorded as credits in a separate ledger account.
Part ITo review, payments to owners decrease owners’ equity and investments by owners increase owners’ equity.Part IIDividends represent payments to owners of a corporation. An increase in the dividend account must be shown with a debit.Part IICapital stock represents investments by owners of a corporation. An increase in the capital stock account must be shown with a credit.
This is a detailed schematic of the accounting cycle. It starts with recording transactions in the journal. At the end of each period, the books are closed and the next accounting period begins. The next chapter will continue to expand the accounting process to include all of the steps listed in this schematic.
We view the accounting cycle as an efficient means of introducing basic accounting terms, concepts, processes, and reports. Please do not confuse your familiarity with this sequence of procedures with a knowledge of accounting. The accounting cycle is but one accounting process—and a relatively simple one at that. Accountants spend much of their time focusing on the more analytical aspects of their discipline. These include, for example:
Determining the information needs of decision makers.
Designing systems to provide the information quickly and efficiently.
Evaluating the efficiency of operations throughout the organization.
Assisting decision makers in interpreting accounting information.
Auditing, which is confirming the reliability of accounting information.
Forecasting the probable results of future operations. And,
Tax planning.