Control accounts the account which represents a particular sub ledger, sales ledger and purchases ledger control accounts.
At the end of an accounting period the accounts are balanced off and a trial balance prepared to check the accuracy of the book keeping entries. If a trial balance fails to balance this usually indicates that an error or errors may have been made and needs to be identified. As the business expands the accounting requirements increase which may lead to more errors occurring which are very difficult to find.
It is the system in which both the aspects i.e. debit as well as credit are recorded in the books of accounts .It records transactions relating to all the accounts i.e. personal, real and nominal.
Bookkeeping means systematic recording of day-to-day activities such as financial transactions and expense accrual for a business. The company needs to track such details for making well operational decisions.
Control accounts the account which represents a particular sub ledger, sales ledger and purchases ledger control accounts.
At the end of an accounting period the accounts are balanced off and a trial balance prepared to check the accuracy of the book keeping entries. If a trial balance fails to balance this usually indicates that an error or errors may have been made and needs to be identified. As the business expands the accounting requirements increase which may lead to more errors occurring which are very difficult to find.
It is the system in which both the aspects i.e. debit as well as credit are recorded in the books of accounts .It records transactions relating to all the accounts i.e. personal, real and nominal.
Bookkeeping means systematic recording of day-to-day activities such as financial transactions and expense accrual for a business. The company needs to track such details for making well operational decisions.
12 CRITICAL SLIDES Title slide your company’s name, a sho.docxhyacinthshackley2629
12 CRITICAL SLIDES
Title slide: your company’s name, a short company description, name of presenter(s) if presenting in person.
Your elevator pitch: a succinct description of your products or services, market, and competitive advantages. Use
vibrant language, and if possible, embed audio or video to demonstrate your product or service.
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Size of opportunity: this is what investors — VCs even more so than angels — want to know. To what size can
your company potentially grow and what are your plans for future development?
Your specific target customers: who they are and the customer needs that your product or service will meet.
The market size: numbers and dollars, past growth, growth forecasts.
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The competition: division of market share, how your product compares to theirs, your value proposition in
comparison to the competition’s, and barriers to entry.
Your team: who they are, their past successes and experience, and why they are qualified to do the job.
The business model: how you will distribute your product, pricing strategies, how you will reach your customers.
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Milestones: a time line that outlines when you expect to reach key achievements.
Financials: a brief summary of key points from your income statement, balance sheet, and/or cash flow
projections.
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Funding: how much you are asking for in this round, how many future rounds are expected, how much you will
request during those rounds, and how the funds will be used.
The investment opportunity: potential exit strategies and financial return for investors.
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Accounts Payable/Accounts Receivable
Special Project
Policies and Procedures for Ensuring the 3-Way Match Occurs before Paying Invoice
This Special Project is worth 100 points and is due no later than June 8th, the date of the final exam. This is not a group project. Each student is required to prepare individual responses. A deduction of 20 points will be made for evidence of joint preparation. Late assignments will be given no points.
I would expect responses to vary in length but do not anticipate anything less than 3 pages.
Instructions:
Now that you are somewhat familiar with the payables function in QuickBooks, you no doubt realize that the software does not include a feature that ensures a three-way match is made/has been made prior to paying an invoice. It is largely a manual process.
You first job as the newly appointed head of the Accounts Payable departm.
Default Identification and Prevention of Frauds in International BusinessJIMS Rohini Sector 5
Expanding international business offers fantastic business opportunities for all-including fraudsters. Many times the default/fraud succeeds because of the unawareness of parties involved in the trade transaction. This unawareness can be on account of inherent weakness in a document involved in the transaction or may be due to myths related to a specific payment system as proposed by the counter party . For example, many exporters consider a letter of credit as a police to the commercial transaction which is not true .
It is therefore of ultimate importance for banks , traders and all other parties to be aware of associated risks, pitfalls and the red flags etc while handling the international trade transactions.
FIEO in association with JIMS, Rohini is organizing a one day workshop to impart knowledge on all dimensions of a trade transaction so as to be able to take necessary preventive precautions. Extensive coverage will be given on technical aspects of trade transactions, alternative possibilities , applicable rules , inherent strength or weakness of a particular type of document etc. The various topics covered in the workshop will be highlighted through case studies. It also covers further the legal and practical aspects; in particular the means of asset recovery post-fraud will be dealt with.
The workshop was led by Dr.(Prof.) Ashok Bhagat Ex. Head Sales – Trade&VP Societe Generale, ICC India nominee for ICC Banking Commission Paris –India Chapter & Ex-Officio Member ICC INDIA Executive Committee and currently Dean -IB , JIMS, Rohini. Delhi.
Factoring, receivables factoring or debtor financing, is when a company buys a debt or invoice from another company. Factoring is also seen as a form of invoice discounting in many markets and is very similar but just within a different context.
9.01 Meaning and Nature of Company
9.02 Kinds of Joint Stock Companies
9.03 Stages in the Formation of a Company
9.04 Share Capital of Company
9.05 Disclosure of Share Capital in the Company’s Balance Sheet
9.06 Type of Shares Issued by Limited Companies
5.01 Meaning of an Account
5.02 Meaning of Debit and Credit
5.03 Classification of Accounts
5.04 Significance of Debit and credit in Accounts
5.05 Journal
5.05.01 Steps and Rules of Journalising
5.05.02 Totaling and Carry Forward.
5.05.03 Simple and Compound Journal Entries
5.06 Opening Entry
5.07 Sub-division of Journal
5.08 Ledger
5.08.01 Meaning
5.08.02 Form of a Ledger
5.08.03 Mechanics of Posting
5.08.04 Balancing of Ledger Accounts
Fundamentals of Accounting / Introduction of AccountingAfzalur Rahman
1.01 Meaning and Definition of Accounting
1.02 Attributes (Characteristics) of Accounting
1.03 Functions of Accounting
1.04 Accounting Process
1.05 Book Keeping
1.06 Objectives of Accounting
1.07 Advantages of Accounting
1.08 Limitations of Accounting
1.09 Users of Accounting Information
1.10 Systems of Accounting
1.11 Basis of Accounting
For more content and questions refer (Copy and Paste this link)
https://clickuniv.com/introduction-to-accounting/
Follow me on: https://twitter.com/Afzalindian
Here in this slide fundamentals of accounting are discussed. After studying this slide you will be able to know
Meaning and Definition of Accounting
Attributes (Characteristics) of accounting
Functions of Accounting
Accounting Process
Bookkeeping
Objectives of Accounting
Advantages of Accounting
Limitations of Accounting
Users of Accounting Information
Systems of Accounting
Basis of Accounting
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
3. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
CHAPTER AT GLANCE (Chapter 4)
4.03 Source Documents
4.03.01 Cash Memo
4.03.02 Invoice or Bill
4.03.03 Receipt
4.03.04 Pay-In-slip
4.03.05 Cheque
4.03.05 Debit Note
4.03.06 Credit Note
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4. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.02
VOUCHER
4.01.01 Meaning of a Voucher
A Voucher is a document evidencing a business
transaction.
Thus,
• whenever a transaction takes place,
• an evidence to that effect is also established.
• such evidences are known as Source Documents.
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6. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.01
VOUCHER
4.01.02 Types of Vouchers
(i) Source Vouchers or Source Documents or Supporting
Vouchers:
They are the vouchers or documents
• which come into existence at the time of transaction
Examples
• cash memo for cash sale,
• Invoice for credit sale,
• agreement for rent, and so on.
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7. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.02
VOUCHER
(ii) Accounting Vouchers:
An accountant has supporting vouchers such as cash
payments, cash receipts, invoices, etc.
Source vouchers are analysed to determine accounts to
be debited and credited.
The decision is recorded on a document termed
Accounting Voucher.
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9. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.02
VOUCHER
1. Cash Vouchers and
• Cash Vouchers refer to the voucher prepared
• at the time of receipt or payment of cash and
• includes receipt and payment through cheques.
• Cash Vouchers can be of the following two types
(i) Credit Voucher
(ii) Debit Voucher
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12. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.02
VOUCHER
2. Non-Cash Vouchers or Transfer Vouchers
Non-Cash Vouchers refer to vouchers prepared for
transactions not involving cash.
Examples
Invoice or Bills, Debit and Credit Notes, etc.
A specimen of Non Cash Voucher.
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14. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
Transaction
It is a financial happening entered into by two or more
willing parties.
It effects a change in the asset, liability, or net worth
account.
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15. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
Transactions
Transactions are recorded in the books of accounts
on the basis of an source documents such as
• cash memo
• bills of purchases,
• invoices for sales,
• debit and credit notes,
• contracts , agreements etc.
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16. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
Transactions
Accounting voucher is prepared
on the basis of Source Documents and
recorded in
• Journal and special purpose books
• in a chronological order
The recorded entries are transferred to the specific Ledger
Accounts
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18. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.01 Cash Memo
Cash Memo is prepared by the seller when he sells goods
against cash.
It has details with respect to description of goods sold,
quantity,
rate of each item and
the total amount received,
besides the date of transaction
and other terms and conditions, if any.
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19. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.01 Cash Memo
It is an evidence for the purchaser
for goods purchased against cash and
for the enterprise,
it is an evidence of sale for cash.
Picture of the Cash Memo
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21. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.02 Invoice or Bill
An Invoice or Bill is prepared by the seller
when he sells goods on credit.
It has details with respect to the name of the party
to whom goods are sold,
the description of goods sold and
the total sale amount.
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23. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.03 Receipt
When cash or cheque is received
a receipt is prepared and issued
It is an acknowledgment of receipt
The receipt is prepared in duplicate.
Original copy is for the party tendering the payment
Duplicate copy is kept for record.
It is a Source Document
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25. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.04 Pay-in-Slip
It relates to Bank Transactions
A Pay-in-Slip is a form supplied by the bank
To deposit cash, cheques, etc., in the Bank Account.
It has a counterfoil
Returned to the depositor
With cashier’s signature, as receipt.
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27. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.05 Cheque
A Cheque is a document in writing
drawn on a specified banker and
payable on demand
The bank supplies cheque forms
The name of the party to whom payment is to be made
is written after the words ‘Pay To’
Then the amount is written—both in words and figures
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29. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.06 Debit Note
A Debit Note is made out evidencing that
a debit has been made to the account of the party
named in the debit note.
A specimen of a Debit note.
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31. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.06 Debit Note
The effect of a debit note is that
• the indebtedness to the supplier is reduced or,
• if the account is already settled,
• goods can be purchased further without payment.
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32. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.07 Credit Note
A Credit Note is made out evidencing that
credit has been granted to a debtor.
Example,
• if a customer returns goods previously invoiced,
• a credit noted is issued or
• the customer is allowed further discount.
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33. BUSINESS TRANSACTIONS—VOUCHER PREPARATION
4.03
SOURCE DOCUMENTS
4.03.07 Credit Note
The effect of a credit note is that
the amount of the customer’s indebtedness
is reduced or,
if it is already settled,
the credit lies in his account.
A specimen of a Credit Note
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